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Fair Value Measurements (Weat)
 12 Months Ended
Dec. 31, 2015
Teucrium Wheat Fund [Member]  
Fair Value Measurements

Note 4 – Fair Value Measurements

The Fund's assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Fund's significant accounting policies in Note 3. The following table presents information about the Fund'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
 $ 1,179,336   $ -   $ -   $ 1,179,336

 

          Balance as of  
Liabilities: Level 1   Level 2   Level 3   December 31, 2015
Wheat futures contracts $ 1,924,464   $ -   $ -   $ 1,924,464

 

December 31, 2014

          Balance as of  
Assets: Level 1   Level 2   Level 3   December 31, 2014
Cash equivalents $ 21,568,368   $ -   $ -   $ 21,568,368
Wheat futures contracts     729,626     -     -     729,626
Total   $ 22,297,994   $ -   $ -   $ 22,297,994

 

          Balance as of  
Liabilities: Level 1   Level 2   Level 3   December 31, 2014
Wheat futures contracts $ 13,125   $ -   $ -   $ 13,125

 

Transfers into and out of each level of the fair value hierarchy for the DEC15 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 DEC14 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
Liabilities (at fair value)                            
Derivative contracts                                    
Wheat future contracts   $ 2,437,725   $ 2,437,725   $ 2,437,725   $ 2,437,725   $ -   $ -

See the Fair Value - Definition and Hierarchy section in Note 3 above for an explanation of the transfers into and out of each level of the fair value hierarchy.