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Fair Value Measurements

6 Months Ended

Jun. 30, 2018

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 June 30, 2018 and December 31, 2017:

June 30, 2018

Assets:		Level 1				Level 2				Level 3				Balance as of June 30, 2018
Cash Equivalents		$	77,279,134			$	-			$	-			$	77,279,134
Commodity futures Contracts
Sugar futures contracts			25,592				-				-				25,592
Total		$	77,304,726			$	-			$	-			$	77,304,726

Liabilities:		Level 1				Level 2				Level 3				Balance as of June 30, 2018
Commodity Futures Contracts
Corn futures contracts			6,650,900				-				-				6,650,900
Soybean futures contracts			2,022,063				-				-				2,022,063
Sugar futures contracts			516,869				-				-				516,869
Wheat futures contracts			2,858,100				-				-				2,858,100
Total		$	12,047,932			$	-			$	-			$	12,047,932

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

For the three months ended June 30, 2018 and year ended December 31, 2017, 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 3 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 June 30, 2018 and December 31, 2017:

June 30, 2018

Assets:	Level 1	Level 2	Level 3	Balance as of June 30, 2018
Cash Equivalents	$34,895,492	$-	$-	$34,895,492
Liabilities:	Level 1	Level 2	Level 3	Balance as of June 30, 2018
Corn Futures Contracts	$6,650,900	$-	$-	$6,650,900

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

For the six months ended June 30, 2018 and year ended December 31, 2017, 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.

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 2. The following table presents information about the Fund’s assets and liabilities measured at fair value as of June 30, 2018 and December 31, 2017:

June 30, 2018

Assets:	Level 1	Level 2	Level 3	Balance as of June 30, 2018
Cash Equivalents	$4,987,698	$-	$-	$4,987,698
Liabilities:	Level 1	Level 2	Level 3	Balance as of June 30, 2018
Soybean Futures Contracts	$2,022,063	$-	$-	$2,022,063

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

For the three and six months ended June 30, 2018 and year ended December 31, 2017, the Fund did not have any 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.

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 June 30, 2018 and December 31, 2017:

June 30, 2018

Assets:	Level 1	Level 2	Level 3	Balance as of June 30, 2018
Cash Equivalents	$4,987,384	$-	$-	$4,987,384
Sugar Futures Contracts	25,592	-	-	25,592
Total	$5,012,976	$-	$-	$5,012,976
Liabilities:	Level 1	Level 2	Level 3	Balance as of June 30, 2018
Sugar Futures Contracts	$516,869	$-	$-	$516,869

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
Soybean Futures Contracts	$67,133	$-	$-	$67,133

For the three and six months ended June 30, 2018 and year ended December 31, 2017, the Fund did not have any 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.

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 June 30, 2018 and December 31, 2017:

June 30, 2018

Assets:	Level 1	Level 2	Level 3	Balance as of June 30, 2018
Cash Equivalents	$32,405,704	$-	$-	$32,405,704

Liabilities:	Level 1	Level 2	Level 3	Balance as of June 30, 2018
Wheat Futures contracts	$2,858,100	$-	$-	$2,858,100

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

For the three and six months ended June 30, 2018 and year ended December 31, 2017, the Fund did not have any 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.

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 June 30, 2018 and December 31, 2017:

June 30, 2018

Assets:	Level 1	Level 2	Level 3	Balance as of June 30, 2018
Exchange Traded Funds	$1,581,009	$-	$-	$1,581,009
Cash Equivalents	3,242	-	-	3,242
Total	$1,584,251	$-	$-	$1,584,251

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

For the three and six months ended June 30, 2018 and year ended December 31, 2017, 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.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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