prospectus_supplement
Filed
pursuant to Rule 424(b)(3)
File No.
333-230623
File
No. 333-223943
File
No. 333-241569
TEUCRIUM WHEAT FUND
TEUCRIUM AGRICULTURAL FUND
Supplement
dated October 2, 2020
to
Prospectuses
dated May 1, 2020
TEUCRIUM SOYBEAN FUND
Supplement
dated October 2, 2020
to
Prospectus
dated August 24, 2020
This
supplement updates the prospectuses of the Teucrium Wheat Fund and
the Teucrium Agricultural Fund, each dated May 1, 2020, and the
prospectus of the Teucrium Soybean Fund dated August 24, 2020
(each, a “Fund,” and together, the
“Funds”), with the following information. It should be
read in its entirety and kept together with your prospectus for
future reference. Capitalized terms and certain other terms used in
this supplement, unless otherwise defined in this supplement, have
the meanings assigned to them in the applicable
prospectus.
1.
The
Teucrium Wheat Fund and Teucrium Soybean Fund have added the
following paragraphs under the heading “Operation of the
Fund” in the section of each Fund’s prospectus entitled
“Prospectus Summary” and under the heading “The
Fund in General” in the section of each Fund’s
prospectus entitled “The Offering”:
Consistent
with applicable provisions of the Trust Agreement and Delaware law,
the Fund has broad authority to make changes to the Fund’s
operations. Consistent with this authority, the Fund, in its sole
discretion and without shareholder approval or advance notice, may
change its investment objective, Benchmark, or investment
strategies. The Fund has no current intention to make any such
change, and any change is subject to applicable regulatory
requirements, including, but not limited to, any requirement to
amend applicable listing rules of the NYSE.
The
reasons for and circumstances that may trigger any such changes may
vary widely and cannot be predicted. However, by way of example,
the Fund may change the term structure or underlying components of
the Benchmark in furtherance of the Fund’s investment
objective of tracking the price of the specified commodities for
future delivery if, due to market conditions, a potential or actual
imposition of position limits by the CFTC or futures exchange
rules, or the imposition of risk mitigation measures by a futures
commission merchant restricts the ability of the Fund to invest in
the current Benchmark Component Futures Contracts. The Fund would
file a current report on Form 8-K and a prospectus supplement to
describe any such change and the effective date of the change.
Shareholders may modify their holdings of the Fund’s shares
in response to any change by purchasing or selling Fund shares
through their broker-dealer.
2.
The Teucrium Wheat Fund and Teucrium Soybean
Fund have added the following risk factor under the heading
“The Fund’s Operating Risks” in the section of
each Fund’s prospectus entitled “What Are the Risk
Factors Involved with an Investment in the Fund?”:
:
The Fund may change its investment objective, Benchmark, or
investment strategies at any time without shareholder approval or
advance notice.
Consistent
with its authority under the Trust Agreement and Delaware law, the
Fund, in its sole discretion and without shareholder approval or
advance notice, may change the Fund’s investment objective,
Benchmark or investment strategies, subject to applicable
regulatory requirements, including, but not limited to, any
requirement to amend applicable listing rules of the NYSE. The
reasons for and circumstances that may trigger any such changes may
vary widely and cannot be predicted. By way of example, the Fund
may change the term structure or underlying components of the
Benchmark in furtherance of the Fund’s investment objective
of tracking the price of the specified commodities for future
delivery if, due to market conditions, a potential or actual
imposition of position limits by the CFTC or futures exchange
rules, or the imposition of risk mitigation measures by a futures
commission merchant restricts the ability of the Fund to invest in
the current Benchmark Component Futures Contracts. Shareholders may
experience losses on their investments in the Fund as a result of
such changes.
3.
The
Teucrium Agricultural Fund has added the following paragraphs under
the heading “Operation of the Fund” in the section of
the Fund’s prospectus entitled “Prospectus
Summary” and under the heading “The Fund in
General” in the section of the Fund’s prospectus
entitled “The Offering”:
Consistent
with applicable provisions of the Trust Agreement and Delaware law,
the Fund has broad authority to make changes to the Fund’s
operations. Consistent with this authority, the Fund, in its sole
discretion and without shareholder approval or advance notice, may
change its investment objective, Benchmark or investment
strategies. The Fund has no current intention to make any such
change, and any change is subject to applicable regulatory
requirements, including, but not limited to, any requirement to
amend applicable listing rules of the NYSE.
The
reasons for and circumstances that may trigger any such changes may
vary widely and cannot be predicted. However, by way of example,
the Fund may change the weighting or underlying components of the
Benchmark in furtherance of the Fund’s investment objective
of tracking the combined daily performance of the Underlying Funds.
This could be done for a variety of market conditions, including a
potential or actual imposition of position limits by the CFTC or
futures exchange rules, or the imposition of risk mitigation
measures by a futures commission merchant restricts the ability of
an Underlying Fund to invest in its current Benchmark Component
Futures Contracts. The Fund and the applicable Underlying Fund
would file a current report on Form 8-K and a prospectus supplement
to describe any such change and the effective date of the change.
Shareholders may modify their holdings of the Fund’s shares
in response to any change by purchasing or selling Fund shares
through their broker-dealer.
4.
The Teucrium Agricultural Fund has added the
following risk factor under the heading “The Fund’s
Operating Risks” in the section of the Fund’s
prospectus entitled “What Are the Risk Factors Involved with
an Investment in the Fund?”: :
The Fund may change its investment objective, benchmark or
investment strategies at any time without shareholder approval or
advance notice.
Consistent
with its authority under the Trust Agreement and Delaware law, the
Fund, in its sole discretion and without shareholder approval or
advance notice, may change the Fund’s investment objective,
Benchmark or investment strategies, subject to applicable
regulatory requirements, including, but not limited to, any
requirement to amend applicable listing rules of the NYSE. The
reasons for and circumstances that may trigger any such changes may
vary widely and cannot be predicted. By way of example, the Fund
may change the weighting or underlying components of the Benchmark
in furtherance of the Fund’s investment objective of tracking
the combined daily performance of the Underlying Funds. This could
be done for a variety of market conditions, including a potential
or actual imposition of position limits by the CFTC or futures
exchange rules, or the imposition of risk mitigation measures by a
futures commission merchant restricts the ability of an Underlying
Fund to invest in its current Benchmark Component Futures
Contracts. Shareholders may experience losses on their investments
in the Fund as a result of such changes.
5.
Effective
October 16, 2020, Deutsche Bank Securities Inc. will terminate its
agreement as an Authorized Purchaser for the Teucrium
Funds.