Fair Value Measurements (Soyb)

12 Months Ended

Dec. 31, 2015

Teucrium Soybean 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	$	161,718	$	—	$	—	$	161,718
Soybean futures contracts		16,175		—		—		16,175
Total	$	177,893	$	—	$	—	$	177,893

							Balance as of
Liabilities:	Level 1		Level 2		Level 3		December 31, 2015
Soybean futures contracts	$	238,662	$	—	$	—	$	238,662

December 31, 2014

							Balance as of
Assets:	Level 1		Level 2		Level 3		December 31, 2014
Cash equivalents	$	11,505,788	$	—	$	—	$	11,505,788

							Balance as of
Liabilities:	Level 1		Level 2		Level 3		December 31, 2014
Soybean futures contracts	$	277,013	$	—	$	—	$	277,013

For the year ended December 31, 2015, the Fund did not have any significant transfers between any of the levels of the fair value hierarchy.

Transfers into and out of each level of the fair value hierarchy for the NOV14 Soybean Contracts for the period from January 1, 2014 through December 31, 2014 were as follows:

	Transfers into Level 1		Transfers out of Level 1		Transfers into Level 2		Transfers out of Level 2		Transfers into Level 3		Transfers out of Level 3
Liabilities (at fair value)
Derivative contracts
Soybean future contracts	$	12,075	$	12,075	$	12,075	$	12,075	$	-	$	-

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.