Note 5 - Derivative Instruments and Hedging Activities - Teucrium Sugar Fund (Tables)

6 Months Ended

Jun. 30, 2023

Notes Tables

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

Offsetting of Financial Assets and Derivative Assets as of June 30, 2023
	(i)		(ii)		(iii) = (i-ii)		(iv)				(v) = (iii)-(iv)
							Gross Amount Not Offset in the Statement of Assets and Liabilities
Description	Gross Amount of Recognized Assets		Gross Amount Offset in the Statement of Assets and Liabilities		Net Amount Presented in the Statement of Assets and Liabilities		Futures Contracts Available for Offset		Collateral, Due to Broker		Net Amount
Commodity and Cryptocurrency Price
Soybean futures contracts	$	818,350	$	-	$	818,350	$	685,954	$	-	$	132,396
Sugar futures contracts	$	921,870	$	-	$	921,870	$	97,357	$	-	$	824,513
Bitcoin futures contracts	$	126,672	$	-	$	126,672	$	-	$	-	$	126,672

Offsetting of Financial Liabilities and Derivative Liabilities as of June 30, 2023
	(i)		(ii)		(iii) = (i-ii)		(iv)				(v) = (iii)-(iv)
							Gross Amount Not Offset in the Statement of Assets and Liabilities
Description	Gross Amount of Recognized Liabilities		Gross Amount Offset in the Statement of Assets and Liabilities		Net Amount Presented in the Statement of Assets and Liabilities		Futures Contracts Available for Offset		Collateral, Due from Broker*		Net Amount
Commodity and Cryptocurrency Price
Corn futures contracts	$	13,427,593	$	-	$	13,427,593	$	-	$	13,427,593	$	-
Soybean futures contracts	$	685,954	$	-	$	685,954	$	685,954	$	-	$	-
Sugar futures contracts	$	97,357	$	-	$	97,357	$	97,357	$	-	$	-
Wheat futures contracts	$	23,351,829	$	-	$	23,351,829	$	-	$	23,351,829	$	-

Offsetting of Financial Assets and Derivative Assets as of December 31, 2022
	(i)		(ii)		(iii) = (i-ii)		(iv)				(v) = (iii)-(iv)
							Gross Amount Not Offset in the Statement of Assets and Liabilities
Description	Gross Amount of Recognized Assets		Gross Amount Offset in the Statement of Assets and Liabilities		Net Amount Presented in the Statement of Assets and Liabilities		Futures Contracts Available for Offset		Collateral, Due to Broker		Net Amount
Commodity and Cryptocurrency Price
Corn futures contracts	$	1,585,798	$	-	$	1,585,798	$	1,585,798	$	-	$	-
Soybean futures contracts	$	2,520,370	$	-	$	2,520,370	$	-	$	-	$	2,520,370
Sugar futures contracts	$	911,329	$	-	$	911,329	$	85,128	$	-	$	826,201
Wheat futures contracts	$	3,160,732	$	-	$	3,160,732	$	3,160,732	$	-	$	-
Bitcoin futures contracts	$	29,152	$	-	$	29,152	$	-	$	-	$	29,152

Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2022
	(i)		(ii)		(iii) = (i-ii)		(iv)				(v) = (iii)-(iv)
							Gross Amount Not Offset in the Statement of Assets and Liabilities
Description	Gross Amount of Recognized Liabilities		Gross Amount Offset in the Statement of Assets and Liabilities		Net Amount Presented in the Statement of Assets and Liabilities		Futures Contracts Available for Offset		Collateral, Due from Broker*		Net Amount
Commodity and Cryptocurrency Price
Corn futures contracts	$	2,967,103	$	-	$	2,967,103	$	1,585,798	$	1,381,305	$	-
Sugar futures contracts	$	85,128	$	-	$	85,128	$	85,128	$	-	$	-
Wheat futures contracts	$	26,380,838	$	-	$	26,380,838	$	3,160,732	$	23,220,106	$	-

Derivative Instruments, Gain (Loss) [Table Text Block]

	Realized (Loss) Gain on Commodity Futures Contracts			Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts
Commodity Price
Corn futures contracts	$	(5,192,445	)	$	(8,746,928	)
Soybeans futures contracts		(1,108,023	)		1,311,668
Sugar futures contracts		7,408,174			(3,141,505	)
Wheat futures contracts		(17,129,061	)		1,960,839
Bitcoin futures Contracts		71,236			(30,948	)
Total commodity and cryptocurrency futures contracts	$	(15,950,119	)	$	(8,646,874	)

	Realized Gain on Commodity Futures Contracts		Net Change in Unrealized Depreciation on Commodity Futures Contracts
Commodity Price
Corn futures contracts	$	22,454,084	$	(47,449,038	)
Soybeans futures contracts		2,645,146		(2,827,976	)
Sugar futures contracts		401,262		(2,174,684	)
Wheat futures contracts		1,412,938		(60,209,162	)
Total commodity futures contracts	$	26,913,430	$	(112,660,860	)

	Realized (Loss) Gain on Commodity Futures Contracts			Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts
Commodity Price
Corn futures contracts	$	(11,461,380	)	$	(12,046,288	)
Soybeans futures contracts		(40,479	)		(2,387,974	)
Sugar futures contracts		8,747,622			(1,688	)
Wheat futures contracts		(40,487,794	)		(131,723	)
Bitcoin futures Contracts		700,787			97,520
Total commodity and cryptocurrency futures contracts	$	(42,541,244	)	$	(14,470,153	)

	Realized Gain on Commodity Futures Contracts		Net Change in Unrealized Depreciation on Commodity Futures Contracts
Commodity Price
Corn futures contracts	$	39,023,065	$	(27,554,708	)
Soybeans futures contracts		9,697,847		(1,913,259	)
Sugar futures contracts		471,423		(1,266,942	)
Wheat futures contracts		39,419,505		(97,060,524	)
Total commodity and cryptocurrency futures contracts	$	88,611,840	$	(127,795,433	)

Teucrium Sugar Fund [Member]

Notes Tables

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

	(i)		(ii)		(iii) = (i)-(ii)		(iv)				(v)=(iii)-(iv)
							Gross Amount Not Offset in the Statement of Assets and Liabilities
Description	Gross Amount of Recognized Assets		Gross Amount Offset in the Statement of Assets and Liabilities		Net Amount Presented in the Statement of Assets and Liabilities		Futures Contracts Available for Offset		Collateral, Due to Broker		Net Amount
Commodity Price
Sugar futures contracts	$	921,870	$	-	$	921,870	$	97,357	$	-	$	824,513

	(i)		(ii)		(iii) = (i)-(ii)		(iv)				(v)=(iii)-(iv)
							Gross Amount Not Offset in the Statement of Assets and Liabilities
Description	Gross Amount of Recognized Liabilities		Gross Amount Offset in the Statement of Assets and Liabilities		Net Amount Presented in the Statement of Assets and Liabilities		Futures Contracts Available for Offset		Collateral, Due from Broker*		Net Amount
Commodity Price
Sugar futures contracts	$	97,357	$	-	$	97,357	$	97,357	$	-	$	-

	(i)		(ii)		(iii) = (i)-(ii)		(iv)				(v)=(iii)-(iv)
							Gross Amount Not Offset in the Statement of Assets and Liabilities
Description	Gross Amount of Recognized Assets		Gross Amount Offset in the Statement of Assets and Liabilities		Net Amount Presented in the Statement of Assets and Liabilities		Futures Contracts Available for Offset		Collateral, Due to Broker		Net Amount
Commodity Price
Sugar futures contracts	$	911,329	$	-	$	911,329	$	85,128	$	-	$	826,201

	(i)		(ii)		(iii) = (i)-(ii)		(iv)				(v)=(iii)-(iv)
							Gross Amount Not Offset in the Statement of Assets and Liabilities
Description	Gross Amount of Recognized Liabilities		Gross Amount Offset in the Statement of Assets and Liabilities		Net Amount Presented in the Statement of Assets and Liabilities		Futures Contracts Available for Offset		Collateral, Due from Broker*		Net Amount
Commodity Price
Sugar futures contracts	$	85,128	$	-	$	85,128	$	85,128	$	-	$	-

Derivative Instruments, Gain (Loss) [Table Text Block]

	Realized Gain on Commodity Futures Contracts		Net Change in Unrealized Depreciation on Commodity Futures Contracts
Commodity Price
Sugar futures contracts	$	7,408,174	$	(3,141,505	)

	Realized Gain on Commodity Futures Contracts		Net Change in Unrealized Depreciation on Commodity Futures Contracts
Commodity Price
Sugar futures contracts	$	401,262	$	(2,174,684	)

	Realized Gain on Commodity Futures Contracts		Net Change in Unrealized Depreciation on Commodity Futures Contracts
Commodity Price
Sugar futures contracts	$	8,747,622	$	(1,688	)

	Realized Gain on Commodity Futures Contracts		Net Change in Unrealized Depreciation on Commodity Futures Contracts
Commodity Price
Sugar futures contracts	$	471,423	$	(1,266,942	)