XML 60 R23.htm IDEA: XBRL DOCUMENT v3.8.0.1
Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2017
Teucrium Commodity Trust - Combined [Member]  
Schedule of Fair Value of Derivative Instruments

Offsetting of Financial Assets and Derivative Assets as of December 31, 2017

 

            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                              
Corn futures contracts  $120,487   $—     $120,487   $120,487   $—     $—   
Sugar futures contracts  $184,319   $—     $184,319   $67,133   $—     $117,186 
Wheat futures contracts  $604,475   $—     $604,475   $604,475   $—     $—   

  

Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2017

 

            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                              
Corn futures contracts  $1,962,050   $—     $1,962,050   $120,487   $1,841,563   $—   
Soybeans futures contracts  $448,063   $—     $448,063   $—     $—        
Sugar futures contracts  $67,133   $—     $67,133   $67,133   $—     $—   
Wheat futures contracts  $3,200,525   $—     $3,200,525   $604,475   $2,596,050   $—   

 

Offsetting of Financial Assets and Derivative Assets as of December 31, 2016

 

            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                              
Soybeans futures contracts  $357,500   $—     $357,500   $12,025   $—     $345,475 
Sugar futures contracts  $185,147   $—     $185,147   $185,147   $—     $—   

  

Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2016

 

            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                              
Corn futures contracts  $1,460,800   $—     $1,460,800   $—     $1,460,800   $—   
Soybeans futures contracts  $12,025   $—     $12,025   $12,025   $—     $—   
Sugar futures contracts  $331,542   $—     $331,542   $185,147   $146,395   $—   
Wheat futures contracts  $3,921,588   $—     $3,921,588   $—     $3,921,588   $—   

 
Summary of Realized and Unrealized Gains (Losses) of the Derivative Instruments

Year ended December 31, 2017

 

Primary Underlying Risk  Realized (Loss) Gain on Commodity Futures Contracts  Net Change in Unrealized Depreciation or Appreciation on Commodity Futures Contracts
Commodity Price          
Corn futures contracts  $(5,603,513)  $(380,763)
Soybeans futures contracts   8,425    (793,538)
Sugar futures contracts   (2,435,305)   263,581 
Wheat futures contracts   (5,305,113)   1,325,538 
Total commodity futures contracts  $(13,335,506)  $414,818 

 

Year ended December 31, 2016

 

Primary Underlying Risk  Realized (Loss) Gain on Commodity Futures Contracts  Net Change in Unrealized Appreciation or Depreciation on Commodity Futures Contacts
Commodity price          
Corn futures contracts  $(9,438,913)  $2,447,750 
Soybean futures contracts   939,088    567,962 
Sugar futures contracts   1,967,694    (510,451)
Wheat futures contracts   (9,631,400)   (1,997,125)
Total commodity futures contracts  $(16,163,531)  $508,136 

 

Year ended December 31, 2015

 

Primary Underlying Risk  Realized Loss on Commodity Futures Contracts  Net Change in Unrealized Appreciation or Depreciation on Commodity Futures Contacts
Commodity price          
Corn futures contracts  $(8,533,650)  $(5,660,263)
Soybean futures contracts   (1,355,738)   54,526 
Sugar futures contracts   (1,279,891)   868,011 
Wheat futures contracts   (4,559,863)   (2,640,963)
Total commodity futures contracts  $(15,729,142)  $(7,378,689)

  
Teucrium Corn Fund [Member]  
Schedule of Fair Value of Derivative Instruments

Offsetting of Financial Assets and Derivative Assets as of December 31, 2017

 

                      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                                    
  Corn Futures Contracts   $ 120,487     $ -     $ 120,487     $ 120,487     $ -     $ -  

 

Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2017

 

                      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                                    
  Corn Futures Contracts   $ 1,962,050     $ -     $ 1,962,050     $ 120,487     $ 1,841,563     $ -  

   

Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2016

 

            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                              
 Corn Futures Contracts  $1,460,800   $—     $1,460,800   $—     $—     $—   

  
Summary of Realized and Unrealized Gains (Losses) of the Derivative Instruments

Year ended December 31, 2017

 

          Net Change in Unrealized  
    Realized Loss on     Appreciation or Depreciation on  
    Commodity Futures Contracts     Commodity Futures Contacts  
Commodity Price            
Corn futures contracts   $ (5,603,513 )   $ (380,763 )

 

Year ended December 31, 2016

 

          Net Change in Unrealized  
    Realized Loss on     Appreciation or Depreciation on  
    Commodity Futures Contracts     Commodity Futures Contacts  
Commodity Price            
Corn futures contracts   $ (9,438,913 )   $ 2,447,750  

 

Year ended December 31, 2015

 

          Net Change in Unrealized  
    Realized Loss on     Appreciation or Depreciation on  
    Commodity Futures Contracts     Commodity Futures Contacts  
Commodity Price            
Corn futures contracts   $ (8,533,650 )   $ (5,660,263 )

 
Teucrium Soybean Fund [Member]  
Schedule of Fair Value of Derivative Instruments

Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2017

 

                      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                                    
Soybean Futures Contracts   $ 448,063     $ -     $ 448,063     $ -   $ -     $   -  

 

Offsetting of Financial Assets and Derivative Assets as of December 31, 2016

 

                      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                                    
Soybean Futures Contracts   $ 357,500     $ -     $ 357,500     $ 12,025     $ -     $ 345,475  

  

Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2016

 

                      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                                    
Soybean Futures Contracts   $ 12,025     $ -     $ 12,025     $ 12,025     $ -     $ -  

 
Summary of Realized and Unrealized Gains (Losses) of the Derivative Instruments

Year ended December 31, 2017

 

          Net Change in Unrealized  
    Realized Gain on     Appreciation or Depreciation on  
    Commodity Futures Contracts     Commodity Futures Contacts  
Commodity Price            
Soybean futures contracts   $ 8,425     $ (793,538 )

 

Year ended December 31, 2016

 

          Net Change in Unrealized  
    Realized Gain on     Appreciation or Depreciation on  
    Commodity Futures Contracts     Commodity Futures Contacts  
Commodity Price            
Soybean futures contracts   $ 939,088     $ 567,962  

  

Year ended December 31, 2015

 

          Net Change in Unrealized  
    Realized Loss on     Appreciation or Depreciation on  
    Commodity Futures Contracts     Commodity Futures Contacts  
Commodity Price            
Soybean futures contracts   $ (1,355,738 )   $ 54,526  

 
Teucrium Sugar Fund [Member]  
Schedule of Fair Value of Derivative Instruments

Offsetting of Financial Assets and Derivative Assets as of December 31, 2017

 

                      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   $ 184,319     $ -     $ 184,319     $ 67,133     $ -     $ 117,186  

 

Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2017

 

                      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   $ 67,133     $ -     $ 67,133     $ 67,133     $ -     $ -  

  

Offsetting of Financial Assets and Derivative Assets as of December 31, 2016

 

                      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   $ 185,147     $ -     $ 185,147     $ 185,147     $ -     $ -  

  

Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2016

 

                      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   $ 331,542     $ -     $ 331,542     $ 185,147     $ 146,395     $ -  

 
Summary of Realized and Unrealized Gains (Losses) of the Derivative Instruments

Year ended December 31, 2017

 

   

Realized Loss on

Commodity Futures Contracts

     Net Change in Unrealized Appreciation on Commodity Futures Contacts  
Commodity Price            
Sugar futures contracts   $ (2,435,305 )   $ 263,581  

 

Year ended December 31, 2016

 

   

Realized Gain on

Commodity Futures Contracts

     Net Change in Unrealized Depreciation on Commodity Futures Contacts  
Commodity Price            
Sugar futures contracts   $ 1,967,694     $ (510,451 )

  

Year ended December 31, 2015

 

   

Realized Loss on

Commodity Futures Contracts

     Net Change in Unrealized Appreciation on Commodity Futures Contacts  
Commodity Price            
Sugar futures contracts   $ (1,279,891 )   $ 868,011  

 
Teucrium Wheat Fund [Member]  
Schedule of Fair Value of Derivative Instruments

Offsetting of Financial Assets and Derivative Assets as of December 31, 2017

 

                      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                                    
Wheat Futures Contracts   $ 604,475     $ -     $ 604,475     $ 604,475     $ -     $ -  

 

Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2017

 

                      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                                    
Wheat Futures Contracts   $ 3,200,525     $ -     $ 3,200,525     $ 604,475     $ 2,596,050     $ -  

  

Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2016

 

                      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                                    
Wheat Futures Contracts   $ 3,921,588     $ -     $ 3,921,588     $ -     $ 3,921,588     $ -  

 
Summary of Realized and Unrealized Gains (Losses) of the Derivative Instruments

Year ended December 31, 2017

 

          Net Change in Unrealized  
    Realized Loss on     Appreciation on  
    Commodity Futures Contracts     Commodity Futures Contacts  
Commodity Price            
Wheat futures contracts   $ (5,305,113 )   $ 1,325,538  

 

Year ended December 31, 2016

 

          Net Change in Unrealized  
    Realized Loss on     Depreciation on  
    Commodity Futures Contracts     Commodity Futures Contacts  
Commodity Price            
Wheat futures contracts   $ (9,631,400 )   $ (1,997,125 )

  

Year ended December 31, 2015

 

          Net Change in Unrealized  
    Realized Loss on     Depreciation on  
    Commodity Futures Contracts     Commodity Futures Contacts  
Commodity Price            
Wheat futures contracts   $ (4,559,863 )   $ (2,640,963 )