Fair Value Measurements (Trust)

12 Months Ended

Dec. 31, 2015

Teucrium Commodity Trust [Member]

Fair Value Measurements

Note 5 – Fair Value Measurements 

The Trust's assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Trust's significant accounting policies in Note 3. The following table presents information about the Trust's assets and liabilities measured at fair value as of December 31, 2015 and December 31, 2014:                          

December 31, 2015

							Balance as of
Assets:	Level 1		Level 2		Level 3		December 31, 2015
Cash equivalents	$	2,539,641	$	-	$	-	$	2,539,641
Commodity futures contracts
Soybean futures contracts		16,175		-		-		16,175
Sugar futures contracts		364,056		-		-		364,056
Total	$	2,919,872	$	-	$	-	$	2,919,872

							Balance as of
Liabilities:	Level 1		Level 2		Level 3		December 31, 2015
Commodity futures contracts
Corn futures contracts	$	3,908,550	$	-	$	-	$	3,908,550
Soybean futures contracts		238,662		-		-		238,662
Wheat futures contracts		1,924,464		-		-		1,924,464
Total	$	6,071,676	$	-	$	-	$	6,071,676

December 31, 2014

							Balance as of
Assets:	Level 1		Level 2		Level 3		December 31, 2014
Cash equivalents	$	142,419,068	$	-	$	-	$	142,419,068
Commodity futures contracts
Corn futures contracts		3,651,637		-		-		3,651,637
Wheat futures contracts		729,626		-		-		729,626
Total	$	146,800,331	$	-	$	-	$	146,800,331

							Balance as of
Liabilities:	Level 1		Level 2		Level 3		December 31, 2014
Commodity futures contracts
Corn futures contracts	$	1,899,925	$	-	$	-	$	1,899,925
Soybean futures contracts		277,013		-		-		277,013
Sugar futures contracts		503,955		-		-		503,955
Wheat futures contracts		13,125		-		-		13,125
Total	$	2,694,018	$	-	$	-	$	2,694,018

Transfers into and out of each level of the fair value hierarchy for the DEC16 Wheat Contracts, for the period from January 1, 2015 through December 31, 2015 were as follows:

Transfers

Transfers

Transfers

Transfers

Transfers

Transfers

into

out of

into

out of

into

out of

Level 1

Level 1

Level 2

Level 2

Level 3

Level 3

Assets (at fair value)

Derivative contracts

Wheat future contracts

$

1,178,088

$

1,178,088

$

1,178,088

$

1,178,088

$

-

$

-

Transfers into and out of each level of the fair value hierarchy for the MAR16 Sugar Contracts, the NOV15 Soybean Contracts and the DEC15 Wheat Contracts, for the period from January 1, 2014 through December 31, 2014 were as follows:

	Transfers		Transfers		Transfers		Transfers		Transfers		Transfers
	into		out of		into		out of		into		out of
	Level 1		Level 1		Level 2		Level 2		Level 3		Level 3
Assets (at fair value)
Derivative contracts
Sugar future contracts	$	17,405	$	17,405	$	17,405	$	17,405	$	-	$	-
Liabilities (at fair value)
Derivative contracts
Soybean future contracts		12,075		12,075		12,075		12,075		-		-
Wheat future contracts		2,437,725		2,437,725		2,437,725		2,437,725		-		-
Total	$	2,449,800	$	2,449,800	$	2,449,800	$	2,449,800	$	-	$	-

See the Fair Value - Definition and Hierarchy section in Note 4 above for an explanation of the transfers into and out of each level of the fair value hierarchy.