Fair Value Measurements

12 Months Ended

Dec. 31, 2017

Teucrium Commodity Trust - Combined [Member]

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, 2017 and December 31, 2016:                          

December 31, 2017

Assets:	Level 1		Level 2		Level 3		Balance as of December 31, 2017
Cash Equivalents	$	49,932,760	$	—	$	—	$	49,932,760
Commodity Futures Contracts
Corn futures contracts		120,487		—		—		120,487
Sugar futures contracts		184,319		—		—		184,319
Wheat futures contracts		604,475		—		—		604,475
Total	$	50,842,041	$	—	$	—	$	50,842,041

Liabilities:	Level 1		Level 2		Level 3		Balance as of December 31, 2017
Commodity Futures Contracts
Corn futures contracts	$	1,962,050	$	—	$	—	$	1,962,050
Soybeans futures contracts		448,063		—		—		448,063
Sugar futures contracts		67,133		—		—		67,133
Wheat futures contracts		3,200,525		—		—		3,200,525
Total	$	5,677,771	$	—	$	—	$	5,677,771

December 31, 2016

Assets:	Level 1		Level 2		Level 3		Balance as of December 31, 2016
Cash Equivalents	$	1,412,423	$	—	$	—	$	1,412,423
Commodity Futures Contracts
Soybeans futures contracts		357,500		—		—		357,500
Sugar futures contracts		185,147		—		—		185,147
Total	$	1,955,070	$	—	$	—	$	1,955,070

Liabilities:	Level 1		Level 2		Level 3		Balance as of December 31, 2016
Commodity Futures Contracts
Corn futures contracts	$	1,460,800	$	—	$	—	$	1,460,800
Soybeans futures contracts		12,025		—		—		12,025
Sugar futures contracts		331,542		—		—		331,542
Wheat futures contracts		3,921,588		—		—		3,921,588
Total	$	5,725,955	$	—	$	—	$	5,725,955

For the years ended December 31, 2017 and 2016, the Funds 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 4 above for an explanation of the transfers into and out of each level of the fair value hierarchy.

Teucrium Corn Fund [Member]

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, 2017 and December 31, 2016:

December 31, 2017        

Assets:	Level 1		Level 2		Level 3		Balance as of December 31, 2017
Cash Equivalents	$	24,965,043	$	—	$	—	$	24,965,043
Corn Futures Contracts		120,487		—		—		120,487
Total	$	25,085,530	$	—	$	—	$	25,085,530

Liabilities:	Level 1		Level 2		Level 3		Balance as of December 31, 2017
Corn Futures Contracts	$	1,962,050	$	—	$	—	$	1,962,050

December 31, 2016        

Assets:	Level 1		Level 2		Level 3		Balance as of December 31, 2016
Cash equivalents	$	692,293	$	—	$	—	$	692,293

Liabilities:	Level 1		Level 2		Level 3		Balance as of December 31, 2016
Corn futures contracts	$	1,460,800	$	—	$	—	$	1,460,800

For the years ended December 31, 2017 and 2016, the Fund did not have any significant transfers between any of the levels of the fair value hierarchy.

Teucrium Soybean Fund [Member]

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, 2017 and December 31, 2016:

December 31, 2017

Assets:	Level 1		Level 2		Level 3		Balance as of December 31, 2017
Cash Equivalents	$	100	$	—	$	—	$	100

Liabilities:	Level 1		Level 2		Level 3		Balance as of December 31, 2017
Soybeans futures contracts	$	448,063	$	—	$	—	$	448,063

December 31, 2016

							Balance as of
Assets:	Level 1		Level 2		Level 3		December 31, 2016
Cash equivalents	$	185,661	$	—	$	—	$	185,661
Soybean futures contracts		357,500		—		—		357,500
Total	$	543,161	$	—	$	—	$	543,161

							Balance as of
Liabilities:	Level 1		Level 2		Level 3		December 31, 2016
Soybean futures contracts	$	12,025	$	—	$	—	$	12,025

For the years ended December 31, 2017 and 2016, the Fund did not have any significant transfers between any of the levels of the fair value hierarchy.

Teucrium Sugar Fund [Member]

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, 2017 and December 31, 2016.

December 31, 2017

Assets:	Level 1		Level 2		Level 3		Balance as of December 31, 2017
Cash Equivalents	$	100	$	—	$	—	$	100
Sugar Futures Contracts		184,319		—		—		184,319
Total	$	184,419	$	—	$	—	$	184,419

Liabilities:	Level 1		Level 2		Level 3		Balance as of December 31, 2017
Sugar Futures Contracts	$	67,133	$	—	$	—	$	67,133

December 31, 2016

Assets:	Level 1		Level 2		Level 3		Balance as of December 31, 2016
Cash Equivalents	$	125,182	$	—	$	—	$	125,182
Sugar Futures Contracts		185,147		—		—		185,147
Total	$	310,329	$	—	$	—	$	310,329

Liabilities:	Level 1		Level 2		Level 3		Balance as of December 31, 2016
Sugar Futures Contracts	$	331,542	$	—	$	—	$	331,542

For the years ended December 31, 2017 and 2016, the Fund did not have any significant transfers between any of the levels of the fair value hierarchy.

Teucrium Wheat Fund [Member]

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, 2017 and December 31, 2016:

December 31, 2017

Assets:	Level 1		Level 2		Level 3		Balance as of December 31, 2017
Cash Equivalents	$	24,965,043	$	—	$	—	$	24,965,043
Wheat Futures contracts		604,475		—		—		604,475
Total	$	25,569,518	$	—	$	—	$	25,569,518

Liabilities:	Level 1		Level 2		Level 3		Balance as of December 31, 2017
Wheat Futures contracts	$	3,200,525	$	—	$	—	$	3,200,525

December 31, 2016

Assets:	Level 1		Level 2		Level 3		Balance as of December 31, 2016
Cash Equivalents	$	406,927	$	—	$	—	$	406,927

Liabilities:	Level 1		Level 2		Level 3		Balance as of December 31, 2016
Wheat Futures contracts	$	3,921,588	$	—	$	—	$	3,921,588

For the years ended December 31, 2017 and 2016, the Fund did not have any transfers between any of the level 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.

Teucrium Agricultural Fund [Member]

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, 2017 and December 31, 2016:

December 31, 2017

Assets:	Level 1		Level 2		Level 3		Balance as of December 31, 2017
Exchange Traded Funds	$	1,136,120	$	—	$	—	$	1,136,120
Cash Equivalents		2,474		—		—		2,474
Total	$	1,138,594	$	—	$	—	$	1,138,594

December 31, 2016

Assets:	Level 1		Level 2		Level 3		Balance as of December 31, 2016
Exchange Traded Funds	$	1,313,554	$	—	$	—	$	1,313,554
Cash Equivalents		2,360		—		—		2,360
Total	$	1,315,914	$	—	$	—	$	1,315,914

For the years ended December 31, 2017 and 2016, the Fund did not have any transfers between any of the level 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.