Fair Value Measurements (Soyb)

3 Months Ended

Mar. 31, 2016

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 2. The following table presents information about the Fund's assets and liabilities measured at fair value as of March 31, 2016 and December 31, 2015:

March 31, 2016

							Balance as of
Assets:	Level 1		Level 2		Level 3		March 31, 2016
Cash equivalents	$	532,089	$	—	$	—	$	532,089
Soybean futures contracts		148,363		—		—		148,363
Total	$	680,452	$	—	$	—	$	680,452

							Balance as of
Liabilities:	Level 1		Level 2		Level 3		March 31, 2016
Soybean futures contracts	$	26,225	$	—	$	—	$	26,225

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

For the three months ended March 31, 2016 and year ended December 31, 2015, the Fund did not have any significant transfers between any of the levels of the fair value hierarchy.

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.