Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Feb. 28, 2023 | Jun. 30, 2022 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001471824 | ||
Entity Registrant Name | Teucrium Commodity Trust | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2022 | ||
Document Transition Report | false | ||
Entity File Number | 001-34765 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 61-1604335 | ||
Entity Address, Address Line One | Three Main Street, Suite 215 | ||
Entity Address, City or Town | Burlington | ||
Entity Address, State or Province | VT | ||
Entity Address, Postal Zip Code | 05401 | ||
City Area Code | 802 | ||
Local Phone Number | 540-0019 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 845,379,594 | ||
Auditor Name | GRANT THORNTON LLP | ||
Auditor Location | New York, NY | ||
Auditor Firm ID | 248 | ||
Shares of Hashdex Bitcoin Futures ETF [Member] | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Shares of Hashdex Bitcoin Futures ETF | ||
Trading Symbol | DEFI | ||
Security Exchange Name | NYSEArca | ||
Entity Public Float | 0 | ||
Entity Common Stock, Shares Outstanding | 50,004 | ||
Shares of Teucrium Agricultural Fund [Member] | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Shares of Teucrium Agricultural Fund | ||
Trading Symbol | TAGS | ||
Security Exchange Name | NYSEArca | ||
Entity Public Float | 47,381,812 | ||
Entity Common Stock, Shares Outstanding | 1,175,002 | ||
Shares of Teucrium Wheat Fund [Member] | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Shares of Teucrium Wheat Fund | ||
Trading Symbol | WEAT | ||
Security Exchange Name | NYSEArca | ||
Entity Public Float | 450,870,036 | ||
Entity Common Stock, Shares Outstanding | 25,525,004 | ||
Shares of Teucrium Soybean Fund [Member] | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Shares of Teucrium Soybean Fund | ||
Trading Symbol | SOYB | ||
Security Exchange Name | NYSEArca | ||
Entity Public Float | 75,091,608 | ||
Entity Common Stock, Shares Outstanding | 1,575,004 | ||
Shares of Teucrium Sugar Fund [Member] | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Shares of Teucrium Sugar Fund | ||
Trading Symbol | CANE | ||
Security Exchange Name | NYSEArca | ||
Entity Public Float | 32,387,037 | ||
Entity Common Stock, Shares Outstanding | 2,425,004 | ||
Shares of Teucrium Corn Fund [Member] | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Shares of Teucrium Corn Fund | ||
Trading Symbol | CORN | ||
Security Exchange Name | NYSEArca | ||
Entity Public Float | $ 239,649,101 | ||
Entity Common Stock, Shares Outstanding | 5,050,004 |
Combined Statements of Assets a
Combined Statements of Assets and Liabilities - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and cash equivalents | $ 434,062,296 | $ 252,211,943 |
Interest receivable | 317,351 | 16,982 |
Other assets | 9,069 | 1,000 |
Capital shares receivable | 1,344,830 | 0 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 8,207,381 | 13,415,301 |
Due from broker | 61,563,417 | 613,126 |
Total equity in trading accounts | 69,770,798 | 14,028,427 |
Total assets | 505,504,344 | 266,258,352 |
Liabilities | ||
Management fee payable to Sponsor | 432,882 | 227,779 |
Other liabilities | 78,880 | 129,453 |
Payable for Shares redeemed | 10,183,915 | 0 |
Equity in trading accounts, liabilities: | ||
Commodity and cryptocurrency futures contracts | 29,433,069 | 735,475 |
Due to broker | 0 | 888,877 |
Total equity in trading accounts | 29,433,069 | 1,624,352 |
Total liabilities | 40,128,746 | 1,981,584 |
Net Assets | $ 465,375,598 | $ 264,276,768 |
Combined Statements of Operatio
Combined Statements of Operations - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Realized and unrealized gain (loss) on trading of commodity and cryptocurrency futures contracts: | |||
Realized (loss) gain on commodity and cryptocurrency futures contracts | $ (43,176,670) | $ 117,839,481 | $ 25,091,898 |
Net change in unrealized (depreciation) appreciation on commodity and cryptocurrency futures contracts | (33,905,514) | (29,744,871) | 35,293,415 |
Interest income | 10,664,323 | 541,938 | 1,350,681 |
Total (loss) income | (66,417,861) | 88,636,548 | 61,735,994 |
Expenses | |||
Management fees | 6,630,551 | 3,246,117 | 2,185,437 |
Professional fees | 1,432,587 | 1,089,756 | 1,266,367 |
Distribution and marketing fees | 4,075,048 | 3,281,450 | 2,826,548 |
Custodian fees and expenses | 410,660 | 363,000 | 369,293 |
Business permits and licenses fees | 157,326 | 123,465 | 213,173 |
General and administrative expenses | 323,468 | 301,580 | 297,679 |
Other expenses | 2,147 | 17 | 2,811 |
Total expenses | 13,031,787 | 8,405,385 | 7,161,308 |
Expenses waived by the Sponsor | (1,277,037) | (2,183,856) | (1,580,551) |
Total expenses, net | 11,754,750 | 6,221,529 | 5,580,757 |
Net (loss) income | $ (78,172,611) | $ 82,415,019 | $ 56,155,237 |
Combined Statements of Changes
Combined Statements of Changes in Net Assets - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operations | |||
Net (loss) income | $ (78,172,611) | $ 82,415,019 | $ 56,155,237 |
Capital transactions | |||
Issuance of Shares | 1,251,138,564 | 176,346,175 | 305,719,849 |
Redemption of Shares | (945,423,586) | (293,409,949) | (219,645,122) |
Net change in the cost of the Underlying Funds | (26,443,537) | (11,187,671) | (23,367) |
Total capital transactions | 279,271,441 | (128,251,445) | 86,051,360 |
Net change in net assets | 201,098,830 | (45,836,426) | 142,206,597 |
Net assets, beginning of period | 264,276,768 | 310,113,194 | 167,906,597 |
Net assets, end of period | $ 465,375,598 | $ 264,276,768 | $ 310,113,194 |
Combined Statements of Cash Flo
Combined Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net (loss) income | $ (78,172,611) | $ 82,415,019 | $ 56,155,237 |
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||
Net change in unrealized depreciation (appreciation) on commodity and cryptocurrency futures contracts | 33,905,514 | 29,744,871 | (35,293,415) |
Changes in operating assets and liabilities: | |||
Due from broker | (60,950,291) | (613,126) | 4,252 |
Interest receivable | (300,369) | 0 | (16,732) |
Other assets | (8,069) | (962) | 9,681 |
Due to broker | (888,877) | (26,389,281) | 22,138,032 |
Management fee payable to Sponsor | 205,103 | (36,930) | 122,811 |
Payable for purchases of commercial paper | (13,050) | (9,995,298) | 9,995,298 |
Other liabilities | (37,523) | 57,885 | 32,801 |
Net cash (used in) provided by operating activities | (106,260,173) | 75,182,178 | 53,147,965 |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 1,249,793,734 | 176,654,005 | 305,412,019 |
Redemption of Shares | (935,239,671) | (297,814,864) | (215,240,207) |
Net change in cost of the Underlying Funds | (26,443,537) | (11,187,671) | (23,367) |
Net cash provided by (used in) financing activities | 288,110,526 | (132,348,530) | 90,148,445 |
Net change in cash and cash equivalents | 181,850,353 | (57,166,352) | 143,296,410 |
Cash and cash equivalents, beginning of period | 252,211,943 | 309,378,295 | 166,081,885 |
Cash and cash equivalents, end of period | $ 434,062,296 | $ 252,211,943 | $ 309,378,295 |
Statements of Assets and Liabil
Statements of Assets and Liabilities - Teucrium Corn Fund - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and cash equivalents | $ 434,062,296 | $ 252,211,943 |
Interest receivable | 317,351 | 16,982 |
Other assets | 9,069 | 1,000 |
Capital shares receivable | 1,344,830 | 0 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 8,207,381 | 13,415,301 |
Due from broker | 61,563,417 | 613,126 |
Total equity in trading accounts | 69,770,798 | 14,028,427 |
Total assets | 505,504,344 | 266,258,352 |
Liabilities | ||
Management fee payable to Sponsor | 432,882 | 227,779 |
Other liabilities | 78,880 | 129,453 |
Payable for Shares redeemed | 10,183,915 | 0 |
Equity in trading accounts, liabilities: | ||
Total liabilities | 40,128,746 | 1,981,584 |
Net Assets | 465,375,598 | 264,276,768 |
Teucrium Corn Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 142,434,737 | 115,012,740 |
Interest receivable | 125,014 | 8,614 |
Other assets | 854 | 0 |
Capital shares receivable | 1,344,830 | 0 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 1,585,798 | 5,936,552 |
Due from broker | 11,625,331 | 77,143 |
Total equity in trading accounts | 13,211,129 | 6,013,695 |
Total assets | 157,116,564 | 121,035,049 |
Liabilities | ||
Management fee payable to Sponsor | 144,877 | 104,087 |
Other liabilities | 21,349 | 84,706 |
Payable for Shares redeemed | 1,344,830 | 0 |
Equity in trading accounts, liabilities: | ||
Commodity futures contracts | 2,967,103 | 0 |
Total liabilities | 4,478,159 | 188,793 |
Net Assets | $ 152,638,405 | $ 120,846,256 |
Shares outstanding (in shares) | 5,675,004 | 5,600,004 |
Shares authorized (in shares) | 22,425,000 | |
Net asset value per share (in dollars per share) | $ 26.90 | $ 21.58 |
Market value per share (in dollars per share) | $ 26.93 | $ 21.54 |
Statements of Operations - Teuc
Statements of Operations - Teucrium Corn Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Realized and unrealized gain (loss) on trading of commodity and cryptocurrency futures contracts: | |||
Realized (loss) gain on commodity and cryptocurrency futures contracts | $ (43,176,670) | $ 117,839,481 | $ 25,091,898 |
Net change in unrealized (depreciation) appreciation on commodity and cryptocurrency futures contracts | (33,905,514) | (29,744,871) | 35,293,415 |
Interest income | 10,664,323 | 541,938 | 1,350,681 |
Total (loss) income | (66,417,861) | 88,636,548 | 61,735,994 |
Expenses | |||
Management fees | 6,630,551 | 3,246,117 | 2,185,437 |
Professional fees | 1,432,587 | 1,089,756 | 1,266,367 |
Distribution and marketing fees | 4,075,048 | 3,281,450 | 2,826,548 |
Custodian fees and expenses | 410,660 | 363,000 | 369,293 |
Business permits and licenses fees | 157,326 | 123,465 | 213,173 |
General and administrative expenses | 323,468 | 301,580 | 297,679 |
Other expenses | 2,147 | 17 | 2,811 |
Total expenses | 13,031,787 | 8,405,385 | 7,161,308 |
Expenses waived by the Sponsor | (1,277,037) | (2,183,856) | (1,580,551) |
Total expenses, net | 11,754,750 | 6,221,529 | 5,580,757 |
Net (loss) income | (78,172,611) | 82,415,019 | 56,155,237 |
Teucrium Corn Fund [Member] | |||
Realized and unrealized gain (loss) on trading of commodity and cryptocurrency futures contracts: | |||
Realized (loss) gain on commodity and cryptocurrency futures contracts | 28,784,977 | 65,827,118 | 5,882,216 |
Net change in unrealized (depreciation) appreciation on commodity and cryptocurrency futures contracts | (7,317,857) | (14,218,054) | 19,371,125 |
Interest income | 3,437,856 | 258,156 | 603,571 |
Total (loss) income | 24,904,976 | 51,867,220 | 25,856,912 |
Expenses | |||
Management fees | 2,121,041 | 1,505,165 | 945,485 |
Professional fees | 416,723 | 526,954 | 534,142 |
Distribution and marketing fees | 1,197,419 | 1,569,853 | 1,347,461 |
Custodian fees and expenses | 110,365 | 170,890 | 174,070 |
Business permits and licenses fees | 34,477 | 29,157 | 78,930 |
General and administrative expenses | 113,955 | 134,708 | 132,300 |
Other expenses | 0 | 0 | 2,783 |
Total expenses | 3,993,980 | 3,936,727 | 3,215,171 |
Expenses waived by the Sponsor | (345,855) | (1,060,261) | (849,396) |
Total expenses, net | 3,648,125 | 2,876,466 | 2,365,775 |
Net (loss) income | $ 21,256,851 | $ 48,990,754 | $ 23,491,137 |
Net gain per share (in dollars per share) | $ 5.32 | $ 6.04 | $ 0.72 |
Net gain per weighted average share (in dollars per share) | $ 2.66 | $ 6.29 | $ 3.28 |
Weighted average shares outstanding (in shares) | 8,002,538 | 7,790,689 | 7,170,974 |
Statements of Changes in Net As
Statements of Changes in Net Assets - Teucrium Corn Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operations | |||
Net (loss) income | $ (78,172,611) | $ 82,415,019 | $ 56,155,237 |
Capital transactions | |||
Issuance of Shares | 1,251,138,564 | 176,346,175 | 305,719,849 |
Redemption of Shares | (945,423,586) | (293,409,949) | (219,645,122) |
Total capital transactions | 279,271,441 | (128,251,445) | 86,051,360 |
Net change in net assets | 201,098,830 | (45,836,426) | 142,206,597 |
Net assets, beginning of period | 264,276,768 | 310,113,194 | 167,906,597 |
Net assets, end of period | 465,375,598 | 264,276,768 | 310,113,194 |
Teucrium Corn Fund [Member] | |||
Operations | |||
Net (loss) income | 21,256,851 | 48,990,754 | 23,491,137 |
Capital transactions | |||
Issuance of Shares | 218,911,328 | 95,586,980 | 155,612,893 |
Redemption of Shares | (208,376,030) | (162,021,015) | (116,034,683) |
Total capital transactions | 10,535,298 | (66,434,035) | 39,578,210 |
Net change in net assets | 31,792,149 | (17,443,281) | 63,069,347 |
Net assets, beginning of period | 120,846,256 | 138,289,537 | 75,220,190 |
Net assets, end of period | $ 152,638,405 | $ 120,846,256 | $ 138,289,537 |
Net asset value per share at beginning of period (in dollars per share) | $ 21.58 | $ 15.54 | $ 14.82 |
Net asset value per share at end of period (in dollars per share) | $ 26.90 | $ 21.58 | $ 15.54 |
Stock Issued During Period, Shares, New Issues (in shares) | 8,050,000 | 5,025,000 | 12,675,000 |
Redemption of Shares (in shares) | 7,975,000 | 8,325,000 | 8,850,000 |
Statements of Cash Flows - Teuc
Statements of Cash Flows - Teucrium Corn Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net (loss) income | $ (78,172,611) | $ 82,415,019 | $ 56,155,237 |
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||
Net change in unrealized depreciation (appreciation) on commodity and cryptocurrency futures contracts | 33,905,514 | 29,744,871 | (35,293,415) |
Changes in operating assets and liabilities: | |||
Due from broker | (60,950,291) | (613,126) | 4,252 |
Interest receivable | (300,369) | 0 | (16,732) |
Other assets | (8,069) | (962) | 9,681 |
Due to broker | (888,877) | (26,389,281) | 22,138,032 |
Management fee payable to Sponsor | 205,103 | (36,930) | 122,811 |
Payable for purchases of commercial paper | (13,050) | (9,995,298) | 9,995,298 |
Other liabilities | (37,523) | 57,885 | 32,801 |
Net cash (used in) provided by operating activities | (106,260,173) | 75,182,178 | 53,147,965 |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 1,249,793,734 | 176,654,005 | 305,412,019 |
Redemption of Shares | (935,239,671) | (297,814,864) | (215,240,207) |
Net cash provided by (used in) financing activities | 288,110,526 | (132,348,530) | 90,148,445 |
Net change in cash and cash equivalents | 181,850,353 | (57,166,352) | 143,296,410 |
Cash and cash equivalents, beginning of period | 252,211,943 | 309,378,295 | 166,081,885 |
Cash and cash equivalents, end of period | 434,062,296 | 252,211,943 | 309,378,295 |
Teucrium Corn Fund [Member] | |||
Cash flows from operating activities: | |||
Net (loss) income | 21,256,851 | 48,990,754 | 23,491,137 |
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||
Net change in unrealized depreciation (appreciation) on commodity and cryptocurrency futures contracts | 7,317,857 | 14,218,054 | (19,371,125) |
Changes in operating assets and liabilities: | |||
Due from broker | (11,548,188) | (77,143) | 4,252 |
Interest receivable | (116,400) | (1,271) | (7,237) |
Other assets | (854) | 0 | 0 |
Due to broker | 0 | (12,973,828) | 12,973,828 |
Management fee payable to Sponsor | 40,790 | (13,777) | 52,631 |
Payable for purchases of commercial paper | 0 | (4,997,847) | 4,997,847 |
Other liabilities | (63,357) | 63,047 | (1,880) |
Net cash (used in) provided by operating activities | 16,886,699 | 45,207,989 | 22,139,453 |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 217,566,498 | 95,586,980 | 155,612,893 |
Redemption of Shares | (207,031,200) | (163,963,290) | (114,092,408) |
Net cash provided by (used in) financing activities | 10,535,298 | (68,376,310) | 41,520,485 |
Net change in cash and cash equivalents | 27,421,997 | (23,168,321) | 63,659,938 |
Cash and cash equivalents, beginning of period | 115,012,740 | 138,181,061 | 74,521,123 |
Cash and cash equivalents, end of period | $ 142,434,737 | $ 115,012,740 | $ 138,181,061 |
Statements of Assets and Liab_2
Statements of Assets and Liabilities - Teucrium Soybean Fund - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and cash equivalents | $ 434,062,296 | $ 252,211,943 |
Interest receivable | 317,351 | 16,982 |
Other assets | 9,069 | 1,000 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 8,207,381 | 13,415,301 |
Due from broker | 61,563,417 | 613,126 |
Total equity in trading accounts | 69,770,798 | 14,028,427 |
Total assets | 505,504,344 | 266,258,352 |
Liabilities | ||
Payable for Shares redeemed | 10,183,915 | 0 |
Management fee payable to Sponsor | 432,882 | 227,779 |
Other liabilities | 78,880 | 129,453 |
Equity in trading accounts, liabilities: | ||
Due to broker | 0 | 888,877 |
Total liabilities | 40,128,746 | 1,981,584 |
Net Assets | 465,375,598 | 264,276,768 |
Teucrium Soybean Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 58,212,569 | 43,019,884 |
Interest receivable | 66,135 | 1,928 |
Other assets | 1,160 | 0 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 2,520,370 | 2,684,851 |
Due from broker | 543,205 | 0 |
Total equity in trading accounts | 3,063,575 | 2,684,851 |
Total assets | 61,343,439 | 45,706,663 |
Liabilities | ||
Payable for Shares redeemed | 2,850,260 | 0 |
Management fee payable to Sponsor | 55,430 | 36,457 |
Other liabilities | 7,764 | 22,412 |
Equity in trading accounts, liabilities: | ||
Due to broker | 0 | 675,169 |
Total liabilities | 2,913,454 | 734,038 |
Net Assets | $ 58,429,985 | $ 44,972,625 |
Shares outstanding (in shares) | 2,050,004 | 1,975,004 |
Shares authorized (in shares) | 15,875,000 | |
Net asset value per share (in dollars per share) | $ 28.50 | $ 22.77 |
Market value per share (in dollars per share) | $ 28.50 | $ 22.75 |
Statements of Operations - Te_2
Statements of Operations - Teucrium Soybean Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Realized and unrealized gain (loss) on trading of commodity and cryptocurrency futures contracts: | |||
Realized (loss) gain on commodity and cryptocurrency futures contracts | $ (43,176,670) | $ 117,839,481 | $ 25,091,898 |
Net change in unrealized (depreciation) appreciation on commodity and cryptocurrency futures contracts | (33,905,514) | (29,744,871) | 35,293,415 |
Interest income | 10,664,323 | 541,938 | 1,350,681 |
Total (loss) income | (66,417,861) | 88,636,548 | 61,735,994 |
Expenses | |||
Management fees | 6,630,551 | 3,246,117 | 2,185,437 |
Professional fees | 1,432,587 | 1,089,756 | 1,266,367 |
Distribution and marketing fees | 4,075,048 | 3,281,450 | 2,826,548 |
Custodian fees and expenses | 410,660 | 363,000 | 369,293 |
Business permits and licenses fees | 157,326 | 123,465 | 213,173 |
General and administrative expenses | 323,468 | 301,580 | 297,679 |
Total expenses | 13,031,787 | 8,405,385 | 7,161,308 |
Expenses waived by the Sponsor | (1,277,037) | (2,183,856) | (1,580,551) |
Total expenses, net | 11,754,750 | 6,221,529 | 5,580,757 |
Net (loss) income | (78,172,611) | 82,415,019 | 56,155,237 |
Teucrium Soybean Fund [Member] | |||
Realized and unrealized gain (loss) on trading of commodity and cryptocurrency futures contracts: | |||
Realized (loss) gain on commodity and cryptocurrency futures contracts | 10,362,032 | 27,370,674 | 14,404,714 |
Net change in unrealized (depreciation) appreciation on commodity and cryptocurrency futures contracts | (164,481) | (12,439,375) | 14,192,330 |
Interest income | 1,141,422 | 124,186 | 261,834 |
Total (loss) income | 11,338,973 | 15,055,485 | 28,858,878 |
Expenses | |||
Management fees | 677,727 | 727,110 | 580,800 |
Professional fees | 140,044 | 278,476 | 295,623 |
Distribution and marketing fees | 379,076 | 802,965 | 675,392 |
Custodian fees and expenses | 37,114 | 91,007 | 86,875 |
Business permits and licenses fees | 21,062 | 25,359 | 52,067 |
General and administrative expenses | 43,514 | 79,574 | 70,720 |
Total expenses | 1,298,537 | 2,004,491 | 1,761,477 |
Expenses waived by the Sponsor | (89,562) | (576,014) | (399,518) |
Total expenses, net | 1,208,975 | 1,428,477 | 1,361,959 |
Net (loss) income | $ 10,129,998 | $ 13,627,008 | $ 27,496,919 |
Net gain per share (in dollars per share) | $ 5.73 | $ 3.28 | $ 3.64 |
Net gain per weighted average share (in dollars per share) | $ 4.03 | $ 4.11 | $ 7.37 |
Weighted average shares outstanding (in shares) | 2,515,004 | 3,319,593 | 3,731,425 |
Statements of Changes in Net _2
Statements of Changes in Net Assets - Teucrium Soybean Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operations | |||
Net (loss) income | $ (78,172,611) | $ 82,415,019 | $ 56,155,237 |
Capital transactions | |||
Issuance of Shares | 1,251,138,564 | 176,346,175 | 305,719,849 |
Redemption of Shares | (945,423,586) | (293,409,949) | (219,645,122) |
Total capital transactions | 279,271,441 | (128,251,445) | 86,051,360 |
Net change in net assets | 201,098,830 | (45,836,426) | 142,206,597 |
Net assets, beginning of period | 264,276,768 | 310,113,194 | 167,906,597 |
Net assets, end of period | 465,375,598 | 264,276,768 | 310,113,194 |
Teucrium Soybean Fund [Member] | |||
Operations | |||
Net (loss) income | 10,129,998 | 13,627,008 | 27,496,919 |
Capital transactions | |||
Issuance of Shares | 60,420,360 | 26,122,875 | 110,771,840 |
Redemption of Shares | (57,092,998) | (83,956,120) | (77,225,028) |
Total capital transactions | 3,327,362 | (57,833,245) | 33,546,812 |
Net change in net assets | 13,457,360 | (44,206,237) | 61,043,731 |
Net assets, beginning of period | 44,972,625 | 89,178,862 | 28,135,131 |
Net assets, end of period | $ 58,429,985 | $ 44,972,625 | $ 89,178,862 |
Net asset value per share at beginning of period (in dollars per share) | $ 22.77 | $ 19.49 | $ 15.85 |
Net asset value per share at end of period (in dollars per share) | $ 28.50 | $ 22.77 | $ 19.49 |
Stock Issued During Period, Shares, New Issues (in shares) | 2,200,000 | 1,225,000 | 7,600,000 |
Redemption of Shares (in shares) | 2,125,000 | 3,825,000 | 4,800,000 |
Statements of Cash Flows - Te_2
Statements of Cash Flows - Teucrium Soybean Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net (loss) income | $ (78,172,611) | $ 82,415,019 | $ 56,155,237 |
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||
Net change in unrealized depreciation (appreciation) on commodity and cryptocurrency futures contracts | 33,905,514 | 29,744,871 | (35,293,415) |
Changes in operating assets and liabilities: | |||
Due from broker | (60,950,291) | (613,126) | 4,252 |
Interest receivable | (300,369) | 0 | (16,732) |
Other assets | (8,069) | (962) | 9,681 |
Due to broker | (888,877) | (26,389,281) | 22,138,032 |
Management fee payable to Sponsor | 205,103 | (36,930) | 122,811 |
Payable for purchases of commercial paper | (13,050) | (9,995,298) | 9,995,298 |
Other liabilities | (37,523) | 57,885 | 32,801 |
Net cash (used in) provided by operating activities | (106,260,173) | 75,182,178 | 53,147,965 |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 1,249,793,734 | 176,654,005 | 305,412,019 |
Redemption of Shares | (935,239,671) | (297,814,864) | (215,240,207) |
Net cash provided by (used in) financing activities | 288,110,526 | (132,348,530) | 90,148,445 |
Net change in cash and cash equivalents | 181,850,353 | (57,166,352) | 143,296,410 |
Cash and cash equivalents, beginning of period | 252,211,943 | 309,378,295 | 166,081,885 |
Cash and cash equivalents, end of period | 434,062,296 | 252,211,943 | 309,378,295 |
Teucrium Soybean Fund [Member] | |||
Cash flows from operating activities: | |||
Net (loss) income | 10,129,998 | 13,627,008 | 27,496,919 |
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||
Net change in unrealized depreciation (appreciation) on commodity and cryptocurrency futures contracts | 164,481 | 12,439,375 | (14,192,330) |
Changes in operating assets and liabilities: | |||
Due from broker | (543,205) | 0 | 0 |
Interest receivable | (64,207) | 3,550 | (5,436) |
Other assets | (1,160) | 37 | 4,333 |
Due to broker | (675,169) | (10,582,397) | 10,613,758 |
Management fee payable to Sponsor | 18,973 | (39,194) | 52,512 |
Payable for purchases of commercial paper | 0 | (4,997,451) | 4,997,451 |
Other liabilities | (14,648) | 3,810 | 9,681 |
Net cash (used in) provided by operating activities | 9,015,063 | 10,454,738 | 28,976,888 |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 60,420,360 | 26,122,875 | 110,771,840 |
Redemption of Shares | (54,242,738) | (83,956,120) | (77,225,028) |
Net cash provided by (used in) financing activities | 6,177,622 | (57,833,245) | 33,546,812 |
Net change in cash and cash equivalents | 15,192,685 | (47,378,507) | 62,523,700 |
Cash and cash equivalents, beginning of period | 43,019,884 | 90,398,391 | 27,874,691 |
Cash and cash equivalents, end of period | $ 58,212,569 | $ 43,019,884 | $ 90,398,391 |
Statements of Assets and Liab_3
Statements of Assets and Liabilities - Teucrium Sugar Fund - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and cash equivalents | $ 434,062,296 | $ 252,211,943 |
Interest receivable | 317,351 | 16,982 |
Other assets | 9,069 | 1,000 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 8,207,381 | 13,415,301 |
Due from broker | 61,563,417 | 613,126 |
Total equity in trading accounts | 69,770,798 | 14,028,427 |
Total assets | 505,504,344 | 266,258,352 |
Liabilities | ||
Management fee payable to Sponsor | 432,882 | 227,779 |
Other liabilities | 78,880 | 129,453 |
Equity in trading accounts, liabilities: | ||
Total liabilities | 40,128,746 | 1,981,584 |
Net Assets | 465,375,598 | 264,276,768 |
Teucrium Sugar Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 22,977,480 | 21,332,902 |
Interest receivable | 30,669 | 1,444 |
Other assets | 2,965 | 0 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 911,329 | 1,079,226 |
Due from broker | 447,801 | 535,983 |
Total equity in trading accounts | 1,359,130 | 1,615,209 |
Total assets | 24,370,244 | 22,949,555 |
Liabilities | ||
Management fee payable to Sponsor | 20,912 | 19,490 |
Other liabilities | 1,845 | 14,895 |
Equity in trading accounts, liabilities: | ||
Commodity futures contracts | 85,128 | 80,506 |
Total liabilities | 107,885 | 114,891 |
Net Assets | $ 24,262,359 | $ 22,834,664 |
Shares outstanding (in shares) | 2,550,004 | 2,475,004 |
Shares authorized (in shares) | 21,450,000 | |
Net asset value per share (in dollars per share) | $ 9.51 | $ 9.23 |
Market value per share (in dollars per share) | $ 9.53 | $ 9.20 |
Statements of Operations - Te_3
Statements of Operations - Teucrium Sugar Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Realized and unrealized gain (loss) on trading of commodity and cryptocurrency futures contracts: | |||
Realized (loss) gain on commodity and cryptocurrency futures contracts | $ (43,176,670) | $ 117,839,481 | $ 25,091,898 |
Net change in unrealized (depreciation) appreciation on commodity and cryptocurrency futures contracts | (33,905,514) | (29,744,871) | 35,293,415 |
Interest income | 10,664,323 | 541,938 | 1,350,681 |
Total (loss) income | (66,417,861) | 88,636,548 | 61,735,994 |
Expenses | |||
Management fees | 6,630,551 | 3,246,117 | 2,185,437 |
Professional fees | 1,432,587 | 1,089,756 | 1,266,367 |
Distribution and marketing fees | 4,075,048 | 3,281,450 | 2,826,548 |
Custodian fees and expenses | 410,660 | 363,000 | 369,293 |
Business permits and licenses fees | 157,326 | 123,465 | 213,173 |
General and administrative expenses | 323,468 | 301,580 | 297,679 |
Other expenses | 2,147 | 17 | 2,811 |
Total expenses | 13,031,787 | 8,405,385 | 7,161,308 |
Expenses waived by the Sponsor | (1,277,037) | (2,183,856) | (1,580,551) |
Total expenses, net | 11,754,750 | 6,221,529 | 5,580,757 |
Net (loss) income | (78,172,611) | 82,415,019 | 56,155,237 |
Teucrium Sugar Fund [Member] | |||
Realized and unrealized gain (loss) on trading of commodity and cryptocurrency futures contracts: | |||
Realized (loss) gain on commodity and cryptocurrency futures contracts | (442,477) | 6,223,228 | (656,937) |
Net change in unrealized (depreciation) appreciation on commodity and cryptocurrency futures contracts | (172,519) | (408,983) | 1,060,274 |
Interest income | 452,734 | 27,813 | 68,866 |
Total (loss) income | (162,262) | 5,842,058 | 472,203 |
Expenses | |||
Management fees | 278,028 | 204,160 | 104,170 |
Professional fees | 77,992 | 60,302 | 137,657 |
Distribution and marketing fees | 168,266 | 177,047 | 158,618 |
Custodian fees and expenses | 15,692 | 18,782 | 22,168 |
Business permits and licenses fees | 28,238 | 26,423 | 41,840 |
General and administrative expenses | 20,254 | 22,387 | 21,585 |
Other expenses | 0 | 8 | 18 |
Total expenses | 588,470 | 509,109 | 486,056 |
Expenses waived by the Sponsor | (78,237) | (134,294) | (210,614) |
Total expenses, net | 510,233 | 374,815 | 275,442 |
Net (loss) income | $ (672,495) | $ 5,467,243 | $ 196,761 |
Net gain per share (in dollars per share) | $ 0.28 | $ 2.51 | $ (0.32) |
Net gain per weighted average share (in dollars per share) | $ (0.22) | $ 2.28 | $ 0.12 |
Weighted average shares outstanding (in shares) | 2,995,004 | 2,396,442 | 1,676,917 |
Statements of Changes in Net _3
Statements of Changes in Net Assets - Teucrium Sugar Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operations | |||
Net (loss) income | $ (78,172,611) | $ 82,415,019 | $ 56,155,237 |
Capital transactions | |||
Issuance of Shares | 1,251,138,564 | 176,346,175 | 305,719,849 |
Redemption of Shares | (945,423,586) | (293,409,949) | (219,645,122) |
Total capital transactions | 279,271,441 | (128,251,445) | 86,051,360 |
Net change in net assets | 201,098,830 | (45,836,426) | 142,206,597 |
Net assets, beginning of period | 264,276,768 | 310,113,194 | 167,906,597 |
Net assets, end of period | 465,375,598 | 264,276,768 | 310,113,194 |
Teucrium Sugar Fund [Member] | |||
Operations | |||
Net (loss) income | (672,495) | 5,467,243 | 196,761 |
Capital transactions | |||
Issuance of Shares | 27,142,395 | 14,673,718 | 9,284,965 |
Redemption of Shares | (25,042,205) | (10,072,388) | (9,028,815) |
Total capital transactions | 2,100,190 | 4,601,330 | 256,150 |
Net change in net assets | 1,427,695 | 10,068,573 | 452,911 |
Net assets, beginning of period | 22,834,664 | 12,766,091 | 12,313,180 |
Net assets, end of period | $ 24,262,359 | $ 22,834,664 | $ 12,766,091 |
Net asset value per share at beginning of period (in dollars per share) | $ 9.23 | $ 6.72 | $ 7.04 |
Net asset value per share at end of period (in dollars per share) | $ 9.51 | $ 9.23 | $ 6.72 |
Stock Issued During Period, Shares, New Issues (in shares) | 2,800,000 | 1,700,000 | 1,575,000 |
Redemption of Shares (in shares) | 2,725,000 | 1,125,000 | 1,425,000 |
Statements of Cash Flows - Te_3
Statements of Cash Flows - Teucrium Sugar Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net (loss) income | $ (78,172,611) | $ 82,415,019 | $ 56,155,237 |
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||
Net change in unrealized depreciation (appreciation) on commodity and cryptocurrency futures contracts | 33,905,514 | 29,744,871 | (35,293,415) |
Changes in operating assets and liabilities: | |||
Due from broker | (60,950,291) | (613,126) | 4,252 |
Interest receivable | (300,369) | 0 | (16,732) |
Other assets | (8,069) | (962) | 9,681 |
Due to broker | (888,877) | (26,389,281) | 22,138,032 |
Management fee payable to Sponsor | 205,103 | (36,930) | 122,811 |
Other liabilities | (37,523) | 57,885 | 32,801 |
Net cash (used in) provided by operating activities | (106,260,173) | 75,182,178 | 53,147,965 |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 1,249,793,734 | 176,654,005 | 305,412,019 |
Redemption of Shares | (935,239,671) | (297,814,864) | (215,240,207) |
Net cash provided by (used in) financing activities | 288,110,526 | (132,348,530) | 90,148,445 |
Net change in cash and cash equivalents | 181,850,353 | (57,166,352) | 143,296,410 |
Cash and cash equivalents, beginning of period | 252,211,943 | 309,378,295 | 166,081,885 |
Cash and cash equivalents, end of period | 434,062,296 | 252,211,943 | 309,378,295 |
Teucrium Sugar Fund [Member] | |||
Cash flows from operating activities: | |||
Net (loss) income | (672,495) | 5,467,243 | 196,761 |
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||
Net change in unrealized depreciation (appreciation) on commodity and cryptocurrency futures contracts | 172,519 | 408,983 | (1,060,274) |
Changes in operating assets and liabilities: | |||
Due from broker | 88,182 | (535,983) | 0 |
Interest receivable | (29,225) | (540) | (876) |
Other assets | (2,965) | 0 | 1,140 |
Due to broker | 0 | (475,661) | 237,753 |
Management fee payable to Sponsor | 1,422 | 9,198 | (317) |
Other liabilities | (13,050) | 9,000 | 3,200 |
Net cash (used in) provided by operating activities | (455,612) | 4,882,240 | (622,613) |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 27,142,395 | 14,673,718 | 9,284,965 |
Redemption of Shares | (25,042,205) | (10,072,388) | (9,028,815) |
Net cash provided by (used in) financing activities | 2,100,190 | 4,601,330 | 256,150 |
Net change in cash and cash equivalents | 1,644,578 | 9,483,570 | (366,463) |
Cash and cash equivalents, beginning of period | 21,332,902 | 11,849,332 | 12,215,795 |
Cash and cash equivalents, end of period | $ 22,977,480 | $ 21,332,902 | $ 11,849,332 |
Statements of Assets and Liab_4
Statements of Assets and Liabilities - Teucrium Wheat Fund - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and cash equivalents | $ 434,062,296 | $ 252,211,943 |
Interest receivable | 317,351 | 16,982 |
Other assets | 9,069 | 1,000 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 8,207,381 | 13,415,301 |
Due from broker | 61,563,417 | 613,126 |
Total equity in trading accounts | 69,770,798 | 14,028,427 |
Total assets | 505,504,344 | 266,258,352 |
Liabilities | ||
Payable for Shares redeemed | 10,183,915 | 0 |
Management fee payable to Sponsor | 432,882 | 227,779 |
Other liabilities | 78,880 | 129,453 |
Equity in trading accounts, liabilities: | ||
Due to broker | 0 | 888,877 |
Total equity in trading accounts | 29,433,069 | 1,624,352 |
Total liabilities | 40,128,746 | 1,981,584 |
Net Assets | 465,375,598 | 264,276,768 |
Teucrium Wheat Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 209,730,825 | 72,841,616 |
Interest receivable | 92,540 | 4,993 |
Other assets | 3,468 | 970 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 3,160,732 | 3,714,672 |
Due from broker | 48,610,031 | 0 |
Total equity in trading accounts | 51,770,763 | 3,714,672 |
Total assets | 261,597,596 | 76,562,251 |
Liabilities | ||
Payable for Shares redeemed | 5,988,825 | 0 |
Management fee payable to Sponsor | 210,795 | 67,745 |
Other liabilities | 45,099 | 4,242 |
Equity in trading accounts, liabilities: | ||
Commodity futures contracts | 26,380,838 | 654,969 |
Due to broker | 0 | 213,708 |
Total equity in trading accounts | 26,380,838 | 868,677 |
Total liabilities | 32,625,557 | 940,664 |
Net Assets | $ 228,972,039 | $ 75,621,587 |
Shares outstanding (in shares) | 28,675,004 | 10,250,004 |
Shares authorized (in shares) | 33,600,000 | |
Net asset value per share (in dollars per share) | $ 7.99 | $ 7.38 |
Market value per share (in dollars per share) | $ 7.98 | $ 7.39 |
Statements of Operations - Te_4
Statements of Operations - Teucrium Wheat Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Realized and unrealized gain (loss) on trading of commodity and cryptocurrency futures contracts: | |||
Realized (loss) gain on commodity and cryptocurrency futures contracts | $ (43,176,670) | $ 117,839,481 | $ 25,091,898 |
Net change in unrealized (depreciation) appreciation on commodity and cryptocurrency futures contracts | (33,905,514) | (29,744,871) | 35,293,415 |
Interest income | 10,664,323 | 541,938 | 1,350,681 |
Total (loss) income | (66,417,861) | 88,636,548 | 61,735,994 |
Expenses | |||
Management fees | 6,630,551 | 3,246,117 | 2,185,437 |
Professional fees | 1,432,587 | 1,089,756 | 1,266,367 |
Distribution and marketing fees | 4,075,048 | 3,281,450 | 2,826,548 |
Custodian fees and expenses | 410,660 | 363,000 | 369,293 |
Business permits and licenses fees | 157,326 | 123,465 | 213,173 |
General and administrative expenses | 323,468 | 301,580 | 297,679 |
Other expenses | 2,147 | 17 | 2,811 |
Total expenses | 13,031,787 | 8,405,385 | 7,161,308 |
Expenses waived by the Sponsor | (1,277,037) | (2,183,856) | (1,580,551) |
Total expenses, net | 11,754,750 | 6,221,529 | 5,580,757 |
Net (loss) income | (78,172,611) | 82,415,019 | 56,155,237 |
Teucrium Wheat Fund [Member] | |||
Realized and unrealized gain (loss) on trading of commodity and cryptocurrency futures contracts: | |||
Realized (loss) gain on commodity and cryptocurrency futures contracts | (81,457,408) | 18,418,461 | 5,461,905 |
Net change in unrealized (depreciation) appreciation on commodity and cryptocurrency futures contracts | (26,279,809) | (2,678,459) | 669,686 |
Interest income | 5,619,025 | 131,765 | 416,399 |
Total (loss) income | (102,118,192) | 15,871,767 | 6,547,990 |
Expenses | |||
Management fees | 3,549,506 | 809,682 | 554,982 |
Professional fees | 663,700 | 201,641 | 287,573 |
Distribution and marketing fees | 2,141,826 | 662,478 | 631,478 |
Custodian fees and expenses | 228,096 | 74,742 | 84,306 |
Business permits and licenses fees | 49,106 | 27,591 | 26,198 |
General and administrative expenses | 123,180 | 60,012 | 71,671 |
Other expenses | 2,108 | 0 | 0 |
Total expenses | 6,757,522 | 1,836,146 | 1,656,208 |
Expenses waived by the Sponsor | (425,164) | (307,565) | (81,190) |
Total expenses, net | 6,332,358 | 1,528,581 | 1,575,018 |
Net (loss) income | $ (108,450,550) | $ 14,343,186 | $ 4,972,972 |
Net gain per share (in dollars per share) | $ 0.61 | $ 1.22 | $ 0.32 |
Net gain per weighted average share (in dollars per share) | $ (2.86) | $ 1.20 | $ 0.50 |
Weighted average shares outstanding (in shares) | 37,882,059 | 11,913,086 | 9,949,731 |
Statements of Changes in Net _4
Statements of Changes in Net Assets - Teucrium Wheat Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operations | |||
Net (loss) income | $ (78,172,611) | $ 82,415,019 | $ 56,155,237 |
Capital transactions | |||
Issuance of Shares | 1,251,138,564 | 176,346,175 | 305,719,849 |
Redemption of Shares | (945,423,586) | (293,409,949) | (219,645,122) |
Total capital transactions | 279,271,441 | (128,251,445) | 86,051,360 |
Net change in net assets | 201,098,830 | (45,836,426) | 142,206,597 |
Net assets, beginning of period | 264,276,768 | 310,113,194 | 167,906,597 |
Net assets, end of period | 465,375,598 | 264,276,768 | 310,113,194 |
Teucrium Wheat Fund [Member] | |||
Operations | |||
Net (loss) income | (108,450,550) | 14,343,186 | 4,972,972 |
Capital transactions | |||
Issuance of Shares | 896,636,750 | 26,494,978 | 29,814,205 |
Redemption of Shares | (634,835,748) | (35,093,155) | (17,146,795) |
Total capital transactions | 261,801,002 | (8,598,177) | 12,667,410 |
Net change in net assets | 153,350,452 | 5,745,009 | 17,640,382 |
Net assets, beginning of period | 75,621,587 | 69,876,578 | 52,236,196 |
Net assets, end of period | $ 228,972,039 | $ 75,621,587 | $ 69,876,578 |
Net asset value per share at beginning of period (in dollars per share) | $ 7.38 | $ 6.16 | $ 5.84 |
Net asset value per share at end of period (in dollars per share) | $ 7.99 | $ 7.38 | $ 6.16 |
Stock Issued During Period, Shares, New Issues (in shares) | 85,350,000 | 4,050,000 | 5,350,000 |
Redemption of Shares (in shares) | 66,925,000 | 5,150,000 | 2,950,000 |
Statements of Cash Flows - Te_4
Statements of Cash Flows - Teucrium Wheat Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net (loss) income | $ (78,172,611) | $ 82,415,019 | $ 56,155,237 |
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||
Net change in unrealized depreciation (appreciation) on commodity and cryptocurrency futures contracts | 33,905,514 | 29,744,871 | (35,293,415) |
Changes in operating assets and liabilities: | |||
Due from broker | (60,950,291) | (613,126) | 4,252 |
Interest receivable | (300,369) | 0 | (16,732) |
Other assets | (8,069) | (962) | 9,681 |
Due to broker | (888,877) | (26,389,281) | 22,138,032 |
Management fee payable to Sponsor | 205,103 | (36,930) | 122,811 |
Other liabilities | (37,523) | 57,885 | 32,801 |
Net cash (used in) provided by operating activities | (106,260,173) | 75,182,178 | 53,147,965 |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 1,249,793,734 | 176,654,005 | 305,412,019 |
Redemption of Shares | (935,239,671) | (297,814,864) | (215,240,207) |
Net cash provided by (used in) financing activities | 288,110,526 | (132,348,530) | 90,148,445 |
Net change in cash and cash equivalents | 181,850,353 | (57,166,352) | 143,296,410 |
Cash and cash equivalents, beginning of period | 252,211,943 | 309,378,295 | 166,081,885 |
Cash and cash equivalents, end of period | 434,062,296 | 252,211,943 | 309,378,295 |
Teucrium Wheat Fund [Member] | |||
Cash flows from operating activities: | |||
Net (loss) income | (108,450,550) | 14,343,186 | 4,972,972 |
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||
Net change in unrealized depreciation (appreciation) on commodity and cryptocurrency futures contracts | 26,279,809 | 2,678,459 | (669,686) |
Changes in operating assets and liabilities: | |||
Due from broker | (48,610,031) | 0 | 0 |
Interest receivable | (87,547) | (1,736) | (3,186) |
Other assets | (2,498) | (970) | 4,209 |
Due to broker | (213,708) | (2,357,395) | (1,687,307) |
Management fee payable to Sponsor | 143,050 | 6,843 | 17,985 |
Other liabilities | 40,857 | (20,509) | 21,875 |
Net cash (used in) provided by operating activities | (130,900,618) | 14,647,878 | 2,656,862 |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 896,636,750 | 26,802,808 | 29,506,375 |
Redemption of Shares | (628,846,923) | (37,555,795) | (14,684,155) |
Net cash provided by (used in) financing activities | 267,789,827 | (10,752,987) | 14,822,220 |
Net change in cash and cash equivalents | 136,889,209 | 3,894,891 | 17,479,082 |
Cash and cash equivalents, beginning of period | 72,841,616 | 68,946,725 | 51,467,643 |
Cash and cash equivalents, end of period | $ 209,730,825 | $ 72,841,616 | $ 68,946,725 |
Statements of Assets and Liab_5
Statements of Assets and Liabilities - Teucrium Agricultural Fund - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and cash equivalents | $ 434,062,296 | $ 252,211,943 |
Interest receivable | 317,351 | 16,982 |
Other assets | 9,069 | 1,000 |
Equity in trading accounts: | ||
Total assets | 505,504,344 | 266,258,352 |
Liabilities | ||
Other liabilities | 78,880 | 129,453 |
Net Assets | 465,375,598 | 264,276,768 |
Teucrium Agricultural Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 4,716 | 4,801 |
Interest receivable | 32 | 3 |
Other assets | 622 | 30 |
Equity in trading accounts: | ||
Investments in securities, at fair value (cost: $39,425,287 and $12,799,498 as of December 31, 2022 and December 31, 2021 respectively) | 39,572,698 | 14,178,019 |
Total assets | 39,578,068 | 14,182,853 |
Liabilities | ||
Other liabilities | 2,823 | 3,198 |
Net Assets | $ 39,575,245 | $ 14,179,655 |
Shares outstanding (in shares) | 1,262,502 | 525,002 |
Shares authorized (in shares) | 4,075,000 | |
Net asset value per share (in dollars per share) | $ 31.35 | $ 27.01 |
Market value per share (in dollars per share) | $ 31.32 | $ 26.94 |
Statements of Assets and Liab_6
Statements of Assets and Liabilities - Teucrium Agricultural Fund (Parentheticals) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Teucrium Agricultural Fund [Member] | ||
Investments, at cost | $ 39,425,287 | $ 1,586,899 |
Statements of Operations - Te_5
Statements of Operations - Teucrium Agricultural Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Realized and unrealized gain (loss) on trading of commodity and cryptocurrency futures contracts: | |||
Interest income | $ 10,664,323 | $ 541,938 | $ 1,350,681 |
Total (loss) income | (66,417,861) | 88,636,548 | 61,735,994 |
Expenses | |||
Professional fees | 1,432,587 | 1,089,756 | 1,266,367 |
Distribution and marketing fees | 4,075,048 | 3,281,450 | 2,826,548 |
Custodian fees and expenses | 410,660 | 363,000 | 369,293 |
Business permits and licenses fees | 157,326 | 123,465 | 213,173 |
General and administrative expenses | 323,468 | 301,580 | 297,679 |
Other expenses | 2,147 | 17 | 2,811 |
Total expenses | 13,031,787 | 8,405,385 | 7,161,308 |
Expenses waived by the Sponsor | (1,277,037) | (2,183,856) | (1,580,551) |
Total expenses, net | 11,754,750 | 6,221,529 | 5,580,757 |
Net (loss) income | (78,172,611) | 82,415,019 | 56,155,237 |
Teucrium Agricultural Fund [Member] | |||
Realized and unrealized gain (loss) on trading of commodity and cryptocurrency futures contracts: | |||
Realized gain (loss) on securities | 182,252 | 24,928 | (345,117) |
Net change in unrealized (depreciation) appreciation on securities | (1,231,110) | 1,383,158 | 427,132 |
Interest income | 432 | 18 | 11 |
Total (loss) income | (1,048,426) | 1,408,104 | 82,026 |
Expenses | |||
Professional fees | 79,712 | 22,383 | 11,372 |
Distribution and marketing fees | 187,385 | 69,107 | 13,599 |
Custodian fees and expenses | 19,180 | 7,579 | 1,874 |
Business permits and licenses fees | 13,601 | 14,935 | 14,138 |
General and administrative expenses | 13,821 | 4,899 | 1,403 |
Other expenses | 39 | 9 | 10 |
Total expenses | 313,738 | 118,912 | 42,396 |
Expenses waived by the Sponsor | (262,928) | (105,722) | (39,833) |
Total expenses, net | 50,810 | 13,190 | 2,563 |
Net (loss) income | $ (1,099,236) | $ 1,394,914 | $ 79,463 |
Net gain per share (in dollars per share) | $ 4.34 | $ 5.89 | $ 1.40 |
Net gain per weighted average share (in dollars per share) | $ (0.92) | $ 4.60 | $ 1.12 |
Weighted average shares outstanding (in shares) | 1,189,659 | 303,324 | 70,733 |
Statements of Changes in Net _5
Statements of Changes in Net Assets - Teucrium Agricultural Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operations | |||
Net (loss) income | $ (78,172,611) | $ 82,415,019 | $ 56,155,237 |
Capital transactions | |||
Issuance of Shares | 1,251,138,564 | 176,346,175 | 305,719,849 |
Redemption of Shares | (945,423,586) | (293,409,949) | (219,645,122) |
Total capital transactions | 279,271,441 | (128,251,445) | 86,051,360 |
Net change in net assets | 201,098,830 | (45,836,426) | 142,206,597 |
Net assets, beginning of period | 264,276,768 | 310,113,194 | 167,906,597 |
Net assets, end of period | 465,375,598 | 264,276,768 | 310,113,194 |
Teucrium Agricultural Fund [Member] | |||
Operations | |||
Net (loss) income | (1,099,236) | 1,394,914 | 79,463 |
Capital transactions | |||
Issuance of Shares | 45,566,391 | 13,467,624 | 235,946 |
Redemption of Shares | (19,071,565) | (2,267,271) | (209,801) |
Total capital transactions | 26,494,826 | 11,200,353 | 26,145 |
Net change in net assets | 25,395,590 | 12,595,267 | 105,608 |
Net assets, beginning of period | 14,179,655 | 1,584,388 | 1,478,780 |
Net assets, end of period | $ 39,575,245 | $ 14,179,655 | $ 1,584,388 |
Net asset value per share at beginning of period (in dollars per share) | $ 27.01 | $ 21.12 | $ 19.72 |
Net asset value per share at end of period (in dollars per share) | $ 31.35 | $ 27.01 | $ 21.12 |
Stock Issued During Period, Shares, New Issues (in shares) | 1,362,500 | 537,500 | 12,500 |
Redemption of Shares (in shares) | 625,000 | 87,500 | 12,500 |
Statements of Cash Flows - Te_5
Statements of Cash Flows - Teucrium Agricultural Fund - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net (loss) income | $ (78,172,611) | $ 82,415,019 | $ 56,155,237 |
Changes in operating assets and liabilities: | |||
Interest receivable | (300,369) | 0 | (16,732) |
Other assets | (8,069) | (962) | 9,681 |
Other liabilities | (37,523) | 57,885 | 32,801 |
Net cash (used in) provided by operating activities | (106,260,173) | 75,182,178 | 53,147,965 |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 1,249,793,734 | 176,654,005 | 305,412,019 |
Redemption of Shares | (935,239,671) | (297,814,864) | (215,240,207) |
Net cash provided by (used in) financing activities | 288,110,526 | (132,348,530) | 90,148,445 |
Net change in cash and cash equivalents | 181,850,353 | (57,166,352) | 143,296,410 |
Cash and cash equivalents, beginning of period | 252,211,943 | 309,378,295 | 166,081,885 |
Cash and cash equivalents, end of period | 434,062,296 | 252,211,943 | 309,378,295 |
Teucrium Agricultural Fund [Member] | |||
Cash flows from operating activities: | |||
Net (loss) income | (1,099,236) | 1,394,914 | 79,463 |
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||
Net change in unrealized depreciation (appreciation) on securities | 1,231,110 | (1,383,158) | (427,132) |
Changes in operating assets and liabilities: | |||
Net (purchase)/sale of investments in securities | (26,625,789) | (11,212,599) | 321,750 |
Interest receivable | (29) | (3) | 3 |
Other assets | (592) | (29) | (1) |
Other liabilities | (375) | 2,537 | (75) |
Net cash (used in) provided by operating activities | (26,494,911) | (11,198,338) | (25,992) |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 45,566,391 | 13,467,624 | 235,946 |
Redemption of Shares | (19,071,565) | (2,267,271) | (209,801) |
Net cash provided by (used in) financing activities | 26,494,826 | 11,200,353 | 26,145 |
Net change in cash and cash equivalents | (85) | 2,015 | 153 |
Cash and cash equivalents, beginning of period | 4,801 | 2,786 | 2,633 |
Cash and cash equivalents, end of period | $ 4,716 | $ 4,801 | $ 2,786 |
Statements of Assets and Liab_7
Statements of Assets and Liabilities - Hashdex Bitcoin Futures ETF | Dec. 31, 2022 USD ($) $ / shares shares |
Assets | |
Cash and cash equivalents | $ 434,062,296 |
Interest receivable | 317,351 |
Equity in trading accounts: | |
Due from broker | 61,563,417 |
Total equity in trading accounts | 69,770,798 |
Total assets | 505,504,344 |
Liabilities | |
Management fee payable to Sponsor | 432,882 |
Net Assets | 465,375,598 |
Hashdex Bitcoin Futures ETF [Member] | |
Assets | |
Cash and cash equivalents | 701,969 |
Interest receivable | 2,961 |
Equity in trading accounts: | |
Cryptocurrency futures contracts | 29,152 |
Due from broker | 337,049 |
Total equity in trading accounts | 366,201 |
Total assets | 1,071,131 |
Liabilities | |
Management fee payable to Sponsor | 868 |
Net Assets | $ 1,070,263 |
Shares outstanding (in shares) | shares | 50,004 |
Net asset value per share (in dollars per share) | $ / shares | $ 21.40 |
Market value per share (in dollars per share) | $ / shares | $ 21.39 |
Statements of Operations - Hash
Statements of Operations - Hashdex Bitcoin Futures ETF | 4 Months Ended |
Dec. 31, 2022 USD ($) $ / shares shares | |
Hashdex Bitcoin Futures ETF [Member] | |
Realized and unrealized gain (loss) on trading of commodity and cryptocurrency futures contracts: | |
Realized (loss) gain on commodity and cryptocurrency futures contracts | $ (423,794) |
Net change in unrealized (depreciation) appreciation on commodity and cryptocurrency futures contracts | 29,152 |
Interest income | 12,854 |
Total (loss) income | (381,788) |
Expenses | |
Management fees | 4,249 |
Professional fees | 54,416 |
Distribution and marketing fees | 1,076 |
Custodian fees and expenses | 213 |
Business permits and licenses fees | 10,842 |
General and administrative expenses | 8,744 |
Total expenses | 79,540 |
Expenses waived by the Sponsor | (75,291) |
Total expenses, net | 4,249 |
Net (loss) income | $ (386,037) |
Net gain per share (in dollars per share) | $ / shares | $ (3.60) |
Net gain per weighted average share (in dollars per share) | $ / shares | $ (5.82) |
Weighted average shares outstanding (in shares) | shares | 66,359 |
Statements of Changes in Net _6
Statements of Changes in Net Assets - Hashdex Bitcoin Futures ETF | 4 Months Ended |
Dec. 31, 2022 USD ($) $ / shares shares | |
Capital transactions | |
Net assets, end of period | $ 465,375,598 |
Hashdex Bitcoin Futures ETF [Member] | |
Net (loss) income | (386,037) |
Capital transactions | |
Issuance of Shares | 2,461,340 |
Redemption of Shares | (1,005,040) |
Total capital transactions | 1,456,300 |
Net change in net assets | 1,070,263 |
Net assets, beginning of period | 0 |
Net assets, end of period | $ 1,070,263 |
Net asset value per share at beginning of period (in dollars per share) | $ / shares | $ 25 |
Net asset value per share at end of period (in dollars per share) | $ / shares | $ 21.40 |
Stock Issued During Period, Shares, New Issues (in shares) | shares | 100,004 |
Redemption of Shares (in shares) | shares | 50,000 |
Statements of Cash Flows - Hash
Statements of Cash Flows - Hashdex Bitcoin Futures ETF - USD ($) | 4 Months Ended | 12 Months Ended |
Dec. 31, 2022 | Dec. 31, 2022 | |
Cash flows from operating activities: | ||
Net (loss) income | $ (78,172,611) | |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Net change in unrealized depreciation (appreciation) on commodity and cryptocurrency futures contracts | 33,905,514 | |
Changes in operating assets and liabilities: | ||
Due from broker | (60,950,291) | |
Interest receivable | (300,369) | |
Management fee payable to Sponsor | 205,103 | |
Net cash (used in) provided by operating activities | (106,260,173) | |
Cash flows from financing activities: | ||
Proceeds from sale of Shares | 1,249,793,734 | |
Redemption of Shares | (935,239,671) | |
Net cash provided by (used in) financing activities | 288,110,526 | |
Net change in cash and cash equivalents | 181,850,353 | |
Cash and cash equivalents, beginning of period | 252,211,943 | |
Cash and cash equivalents, end of period | $ 434,062,296 | 434,062,296 |
Hashdex Bitcoin Futures ETF [Member] | ||
Cash flows from operating activities: | ||
Net (loss) income | (386,037) | |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Net change in unrealized depreciation (appreciation) on commodity and cryptocurrency futures contracts | (29,152) | |
Changes in operating assets and liabilities: | ||
Due from broker | (337,049) | |
Interest receivable | (2,961) | |
Management fee payable to Sponsor | 868 | |
Net cash (used in) provided by operating activities | (754,331) | |
Cash flows from financing activities: | ||
Proceeds from sale of Shares | 2,461,340 | |
Redemption of Shares | (1,005,040) | |
Net cash provided by (used in) financing activities | 1,456,300 | |
Net change in cash and cash equivalents | 701,969 | |
Cash and cash equivalents, beginning of period | 0 | |
Cash and cash equivalents, end of period | $ 701,969 | $ 701,969 |
Combined Schedule of Investment
Combined Schedule of Investments | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Investment Holdings, Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS December 31, 2022 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 28,382,122 $ 28,382,122 6.10 % 28,382,122 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 160,258,295 160,258,295 34.44 160,258,295 Total money market funds $ 188,640,417 $ 188,640,417 40.54 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 1.07 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 14,877,488 14,968,886 3.22 15,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % 4,959,225 4,989,644 1.07 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 9,935,000 9,972,500 2.14 10,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 9,899,472 9,943,862 2.14 10,000,000 Crown Castle Inc. January 10, 2023 4.877 % 7,443,000 7,491,000 1.61 7,500,000 Crown Castle Inc. January 12, 2023 4.765 % 12,449,410 12,482,050 2.68 12,500,000 Entergy Corporation January 4, 2023 4.311 % 9,926,808 9,996,460 2.15 10,000,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 12,400,060 12,486,207 2.68 12,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 7,418,417 7,484,417 1.61 7,500,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 2.15 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 5,461,843 5,491,823 1.18 5,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 5,263,032 5,298,631 1.14 5,300,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 1.61 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 4,959,561 4,977,688 1.07 5,000,000 Humana Inc. January 9, 2023 4.670 % 7,448,250 7,492,333 1.61 7,500,000 Hyundai Capital America January 10, 2023 4.000 % 9,903,645 9,990,145 2.15 10,000,000 ITT Inc. January 19, 2023 4.475 % 4,965,088 4,988,975 1.07 5,000,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 1.07 5,000,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 1.07 5,000,000 Oracle Corporation January 17, 2023 4.361 % 9,931,919 9,980,889 2.14 10,000,000 V.F. Corporation January 17, 2023 4.364 % 4,959,390 4,990,444 1.07 5,000,000 V.F. Corporation February 2, 2023 4.669 % 6,456,811 6,473,422 1.39 6,500,000 VW Credit, Inc. January 19, 2023 4.434 % 7,448,106 7,483,613 1.61 7,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 4,970,188 4,971,512 1.07 5,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 4,959,098 4,961,736 1.07 5,000,000 Total Commercial Paper $ 198,351,250 $ 199,360,060 42.84 % Total Cash Equivalents $ 388,000,477 83.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 0.34 % $ 45,779,763 United States soybean futures contracts CBOT soybean futures MAR23 268 642,912 0.14 20,421,600 CBOT soybean futures MAY23 229 807,218 0.17 17,518,500 CBOT soybean futures NOV23 289 1,070,240 0.23 20,472,038 United States sugar futures contracts ICE sugar futures MAY23 401 356,963 0.08 8,407,526 ICE sugar futures JUL23 362 554,366 0.12 7,289,811 United States wheat futures contracts CBOT wheat futures JUL23 1,711 3,160,732 0.68 68,696,650 United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 24,979 0.01 496,050 CME Bitcoin futures FEB23 7 4,173 0.00 575,575 Total commodity and cryptocurrency futures contracts $ 8,207,381 1.77 % $ 189,657,513 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.16 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 0.48 53,440,625 United States sugar futures contracts ICE sugar futures MAR24 427 85,128 0.02 8,565,278 United States wheat futures contracts CBOT wheat futures MAY23 2,005 7,079,231 1.52 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 4.15 80,220,450 Total commodity and cryptocurrency futures contracts $ 29,433,069 6.33 % $ 275,693,541 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 9,885,980 2.12 % 367,555 Teucrium Soybean Fund 9,921,042 2.13 348,075 Teucrium Sugar Fund 9,745,653 2.09 1,024,284 Teucrium Wheat Fund 10,020,023 2.15 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 8.49 % *The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. The accompanying notes are an integral part of these financial statements. TEUCRIUM COMMODITY TRUST COMBINED SCHEDULE OF INVESTMENTS December 31, 2021 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 30,443,449 $ 30,443,449 11.52 % 30,443,449 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,525,384 2,525,384 0.96 2,525,384 Total money market funds $ 32,968,833 $ 32,968,833 12.48 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 9,996,324 $ 9,998,489 3.78 % 10,000,000 Albemarle Corporation January 11, 2022 0.200 % 4,998,834 4,999,722 1.89 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 0.95 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 7,497,300 7,499,867 2.84 7,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 4,998,710 4,999,646 1.89 5,000,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 4,998,000 4,999,889 1.89 5,000,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 9,995,111 9,998,333 3.78 10,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 4,998,800 4,999,956 1.89 5,000,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 9,996,061 9,999,444 3.78 10,000,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 4,997,876 4,999,268 1.89 5,000,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 4,997,328 4,997,918 1.89 5,000,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 1.89 5,000,000 Jabil Inc. January 20, 2022 0.250 % 2,499,219 2,499,670 0.95 2,500,000 Jabil Inc. February 8, 2022 0.300 % 7,496,063 7,497,625 2.84 7,500,000 Jabil Inc. February 25, 2022 0.310 % 4,996,900 4,997,632 1.89 5,000,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 1.89 5,000,000 Viatris Inc. February 11, 2022 0.300 % 4,996,625 4,998,292 1.89 5,000,000 Viatris Inc. March 1, 2022 0.310 % 4,996,986 4,997,460 1.89 5,000,000 Viatris Inc. January 21, 2022 0.200 % 4,998,584 4,999,444 1.89 5,000,000 WGL Holdings, Inc. January 12, 2022 0.220 % 4,998,686 4,999,664 1.89 5,000,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 1.89 5,000,000 Total Commercial Paper $ 119,951,019 $ 119,980,366 45.38 % Total Cash Equivalents $ 152,949,199 57.86 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 1.43 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.07 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 0.75 42,533,400 United States soybean futures contracts CBOT soybean futures MAR22 234 591,547 0.22 15,669,225 CBOT soybean futures MAY22 199 1,008,504 0.38 13,422,550 CBOT soybean futures NOV22 250 1,084,800 0.41 15,865,625 United States sugar futures contracts ICE sugar futures MAY22 381 225,299 0.09 7,936,992 ICE sugar futures MAR23 392 853,927 0.32 8,091,507 United States wheat futures contracts CBOT wheat futures MAY22 687 1,809,796 0.68 26,595,488 CBOT wheat futures DEC22 686 1,904,876 0.72 26,411,000 Total commodity futures contracts $ 13,415,301 5.07 % $ 234,855,437 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.03 % $ 6,817,541 United States wheat futures contracts CBOT wheat futures JUL22 593 654,969 0.25 22,667,425 Total commodity futures contracts $ 735,475 0.28 % $ 29,484,966 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,537,560 1.34 % 163,930 Teucrium Soybean Fund 3,538,006 1.34 155,374 Teucrium Sugar Fund 3,591,878 1.36 389,317 Teucrium Wheat Fund 3,510,575 1.33 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 5.37 % *The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. The accompanying notes are an integral part of these financial statements. |
Note 1 - Organization and Opera
Note 1 - Organization and Operation | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009, On June 7, 2010, 1 June 8, 2010, June 9, 2010. April 7, 2022. On June 13, 2011, 1 September 16, 2011, September 19, 2011, April 7, 2022. March 9, 2022. On February 10, 2012, 1 March 27, 2012, March 28, 2012. April 7, 2022. On September 14, 2022, 1 September 15, 2022, September 16, 2022. Teucrium Trading, LLC is the sponsor (“Sponsor”) of the Trust. The Sponsor is a member of the National Futures Association (the “NFA”) and became a commodity pool operator (“CPO”) registered with the Commodity Futures Trading Commission (the “CFTC”) effective November 10, 2009. September 8, 2017. The specific investment objective of each Fund and information regarding the organization and operation of each Fund are included in each Fund’s financial statements and accompanying notes, as well as in other sections of this Form 10 Subject to the terms of the Trust Agreement, Teucrium Trading, LLC in its capacity as the Sponsor (“Sponsor”) may no |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Corn Fund (referred to herein as “CORN,” or the “Fund”) is a commodity pool that is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust formed on September 11, 2009. The investment objective of CORN is to have the daily changes in the NAV of the Fund’s Shares reflect the daily changes in the corn market for future delivery as measured by the Benchmark. The Benchmark is a weighted average of the closing settlement prices for three futures contracts for corn (“Corn Futures Contracts”) that are traded on the Chicago Board of Trade (“CBOT”): CORN Benchmark CBOT Corn Futures Contract Weighting Second to expire 35% Third to expire 30% December following the third to expire 35% The Fund commenced investment operations on June 9, 2010 December 31. On June 7, 2010, 1 June 8, 2010, June 9, 2010. April 7, 2022. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor , may no |
Teucrium Sugar Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Teucrium Sugar Fund (referred to herein as “CANE” or the “Fund”) is a commodity pool that is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust formed on September 11, 2009. The investment objective of CANE is to have the daily changes in the NAV of the Fund’s Shares reflect the daily changes in the sugar market for future delivery as measured by the Benchmark. The Benchmark is a weighted average of the closing settlement prices for three futures contracts for No. 11 CANE Benchmark ICE Sugar Futures Contract Weighting Second to expire 35% Third to expire 30% Expiring in the March following the expiration of the third to expire contract 35% The Fund commenced investment operations on September 19, 2011 December 31. On June 13, 2011, 1 September 16, 2011, September 19, 2011, April 7, 2022. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor, may no |
Teucrium Agricultural Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Agricultural Fund (referred to herein as “TAGS” or the “Fund”) is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009. March 29, 2011 July 28, 2009. On April 22, 2011, February 10, 2012, 1 March 28, 2012, March 28, 2012 December 31, 2011, April 7, 2022. The investment objective of the TAGS is to have the daily changes in percentage terms of the NAV of its Shares reflect the daily changes in percentage terms of a weighted average (the “Underlying Fund Average”) of the NAVs per share of four other commodity pools that are series of the Trust and are sponsored by the Sponsor: the Teucrium Corn Fund, the Teucrium Wheat Fund, the Teucrium Soybean Fund and the Teucrium Sugar Fund (collectively, the “Underlying Funds”). The Underlying Fund Average will have a weighting of 25% to each Underlying Fund, and the Fund’s assets will be rebalanced, generally on a daily basis, to maintain the approximate 25% allocation to each Underlying Fund: TAGS Benchmark Underlying Fund Weighting CORN 25% SOYB 25% CANE 25% WEAT 25% The Fund seeks to provide daily investment results that reflect the combined daily performance of the Underlying Funds. Under normal market conditions, the Fund seeks to achieve its investment objective generally by investing equally in shares of each Underlying Fund and, to a lesser extent, cash equivalents. The Fund’s investments in shares of Underlying Funds is rebalanced, generally on a daily basis, in order to maintain approximately a 25% allocation of the Fund’s assets to each Underlying Fund. (This weighted average is referred to herein as the Underlying Fund’s “Benchmark,” the Futures Contracts that at any given time make up an Underlying Fund’s Benchmark are referred to herein as the Underlying Fund’s “Benchmark Component Futures Contracts,” and the commodity specified in the Underlying Fund’s name is referred to herein as its “Specified Commodity.”) Specifically, the Teucrium Corn Fund’s Benchmark is: ( 1 second 2 third 3 December third 1 second 2 third 3 December third 1 second 2 third 3 November third August September not 1 second No. 11 2 third No. 11 3 No. 11 March third While the Fund expects to maintain substantially all of its assets in shares of the Underlying Funds at all times, the Fund may Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor, may no |
Hashdex Bitcoin Futures ETF [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Hashdex Bitcoin Futures ETF (the “Fund”) is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009. April 26, 2019. may https://www.sec.gov/Archives/edgar/data/1471824/000165495419004865/ex31.htm. July 28, 2009. On September 14, 2022, 1 September 15, 2022, The Fund’s investment objective is for changes in the Shares’ NAV to reflect the daily changes of the price of a specified benchmark (the “Benchmark”), less expenses from the Fund’s operations. The Benchmark currently is the average of the closing settlement prices for the first second one DEFI Benchmark CME Bitcoin Futures Contracts Weighting First to expire 50 % Second to expire 50 % Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor (“Sponsor”), may no |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Soybean Fund (referred to herein as “SOYB” or the “Fund”) is a commodity pool that is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust formed on September 11, 2009. The investment objective of SOYB is to have the daily changes in the NAV of the Fund’s Shares reflect the daily changes in the soybean market for future delivery as measured by the Benchmark. The Benchmark is a weighted average of the closing settlement prices for three futures contracts for soybeans (“Soybean Futures Contracts”) that are traded on the Chicago Board of Trade (“CBOT”): SOYB Benchmark CBOT Soybeans Futures Contract Weighting Second to expire (excluding August & September) 35% Third to expire (excluding August & September) 30% Expiring in the November following the expiration of the third to expire contract 35% The Fund commenced investment operations on September 19, 2011 December 31. On June 13, 2011, 1 September 16, 2011, September 19, 2011, April 7, 2022. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor, may no |
Teucrium Wheat Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Teucrium Wheat Fund (referred to herein as “WEAT” or the “Fund”) is a commodity pool that is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust formed on September 11, 2009. The investment objective of WEAT is to have the daily changes in the NAV of the Fund’s Shares reflect the daily changes in the wheat market for future delivery as measured by the Benchmark. The Benchmark is a weighted average of the closing settlement prices for three futures contracts for wheat (“Wheat Futures Contracts”) that are traded on the Chicago Board of Trade (“CBOT”): WEAT Benchmark CBOT Wheat Futures Contract Weighting Second to expire 35% Third to expire 30% December following the third to expire 35% The Fund commenced investment operations on September 19, 2011 December 31. On June 13, 2011, 1 September 19, 2011, 100,000shares September 19, 2011 December 31, 2010, March 9, 2022. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor, may no |
Note 2 - Principal Contracts an
Note 2 - Principal Contracts and Agreements | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 The Sponsor employs U.S. Bank N.A. as the Custodian for the Funds. The principal business address for U.S. Bank N.A is 1555 302, 53212. 615 53202. For custody services, the Funds will pay to U.S. Bank N.A. 0.0075% of average gross assets up to $1 $1 first $500 $500 $2 $3 The Sponsor employs Foreside Fund Services, LLC (“Foreside” or the “Distributor”) as the Distributor for the Funds. The Distribution Services Agreement among the Distributor and the Sponsor calls for the Distributor to work with the Custodian in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising materials. The Distributor and the Sponsor have also entered into a Securities Activities and Service Agreement (the “SASA”) under which certain employees and officers of the Sponsor are licensed as registered representatives or registered principals of the Distributor, under Financial Industry Regulatory Authority (“FINRA”) rules. For its services as the Distributor, Foreside receives a fee of 0.01% of the Fund’s average daily net assets and an aggregate annual fee of $100,000 for all Teucrium Funds, along with certain expense reimbursements. For its services under the SASA, Foreside receives a fee of $5,000 per registered representative and $1,000 per registered location. These services are recorded in distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below. Pursuant to a Consulting Services Agreement, Foreside Consulting Services, LLC, performs certain consulting support services for the Trust’s Sponsor. Additionally, Foreside Distributors, LLC performs certain distribution consulting services pursuant to a Distribution Consulting Agreement with the Trust’s Sponsor. Marex Capital Markets, Inc. (“Marex”), StoneX Financial Inc. (“StoneX”) and Phillip Capital Inc. (“Phillip Capital”) serve as the Funds’ clearing brokers to execute and clear futures contracts and provide other brokerage-related services. Marex, StoneX and Phillip Capital are each registered as futures commission merchants (“FCM”) with the U.S. CFTC and are members of the NFA. The clearing brokers are registered as broker-dealers with the SEC and are each a member of FINRA. Marex, StoneX and Phillip Capital are each clearing members of ICE Futures U.S., Inc., Chicago Board of Trade, Chicago Mercantile Exchange, New York Mercantile Exchange, and all other major United States commodity exchanges. For Corn, Soybean, Sugar and Wheat Futures Contracts, Marex is paid $11.00 per round turn. StoneX is paid $2.50 per round turn exclusive of pass-through fees for the exchange and the NFA. Additionally, if the monthly commissions paid by each Fund does not Brokerage Commissions The sole Trustee of the Trust is Wilmington Trust Company, a Delaware banking corporation. The Trustee will accept service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act. For its services, the Trustee receives an annual fee of $3,300 from the Trust. These services are recorded in business permits and licenses fees on the combined statements of operations. A summary of these expenses is included below. The Sponsor employs Thales Capital Partners LLC (“Thales”) for distribution and solicitation-related services. Thales is registered as a Broker-Dealer with the SEC and a member of Financial Industry Regulatory Authority (FINRA) and SIPC. Thales receives a quarterly fee of $18,750 or 0.10% of new assets raised in referred accounts for distribution and solicitation-related services. This fee based on new assets raised is determined by an agreed upon level of assets at the time of signing the contract. These services are recorded in distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below: Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 410,660 $ 363,000 $ 369,293 Amount of Custody Services Waived $ 42,625 $ 120,850 $ 71,342 Amount Recognized for Distribution Services $ 200,313 $ 186,531 $ 180,024 Amount of Distribution Services Waived $ 48,593 $ 94,724 $ 68,140 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 550 $ 991 $ 2,215 Amount Recognized for Thales $ 278,958 $ 297,222 $ 116,901 Amount of Thales Waived $ 106,944 $ 153,198 $ 57,988 |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared on a combined basis in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification and include the accounts of the Trust, CORN, CANE, SOYB, WEAT, TAGS and DEFI. Refer to the accompanying separate financial statements for each Fund for more detailed information. For the periods represented by the financial statements herein the operations of the Trust contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI except for eliminations for TAGS as explained below for the months during which each Fund was in operation. Given the investment objective of TAGS as described in Note 1 Revenue Recognition Commodity and Cryptocurrency futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. The Funds seek to earn interest on their assets denominated in U.S. dollars on deposit with the Futures Commission Merchant. In addition, the Funds seek to earn interest on funds held at the custodian and at other financial institutions at prevailing market rates for such investments. The Sponsor may The Sponsor may Brokerage Commissions Beginning on August 21, 2019, December 31, 2022 2021 2020 CORN SOYB CANE WEAT TAGS DEFI TRUST Year Ending December 31, 2022 $ 217,050 $ 27,011 $ 33,469 $ 387,999 $ - $ 2,217 $ 667,746 Year Ending December 31, 2021 $ 141,674 $ 29,889 $ 21,123 $ 47,448 $ - $ - $ 240,134 Year Ending December 31, 2020 $ 149,619 $ 35,880 $ 14,681 $ 40,741 $ 1 $ - $ 240,922 Income Taxes The Trust is organized and will be operated as a Delaware statutory trust. For federal income tax purposes, each Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Funds are required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Funds recognize interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized for the years ending December 31, 2022 2021 2020 2019 The Funds may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 Each Fund receives or pays the proceeds from shares sold or redeemed within three There are a minimum number of baskets and associated shares specified for each Fund in the Fund’s respective prospectus, as amended from time to time. Once the minimum number of baskets is reached, there can be no CORN: 50,000 shares representing 2 baskets SOYB: 50,000 shares representing 2 baskets CANE: 50,000 shares representing 2 baskets WEAT: 50,000 shares representing 2 baskets TAGS: 50,000 shares representing 4 baskets DEFI: 50,000 shares representing 5 baskets Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 188,640,417 $ 32,968,833 $ 61,121,678 Demand Deposit Savings Accounts 46,061,819 99,262,744 95,809,411 Commercial Paper 199,360,060 119,980,366 152,447,206 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 434,062,296 $ 252,211,943 $ 309,378,295 Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement, which represents the amount payable for contracts purchased but not Due from/to Broker The amount recorded by the Trust for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one Payable/Receivable for Securities Purchased/Sold Due from/to broker for investments in securities are securities transactions pending settlement. The Trust and the Funds are subject to credit risk to the extent any broker with whom it conducts business is unable to fulfill contractual obligations on its behalf. The management of the Trust and the Funds monitors the financial condition of such brokers and does not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Fund’s sponsor, Teucrium Trading, LLC (the “Sponsor”), is responsible for investing the assets of the Funds in accordance with the objectives and policies of each Fund. In addition, the Sponsor arranges for one third not no .94% The Agricultural Funds generally pay for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, or any other regulatory agency in connection with the offer and sale of subsequent Shares, after its initial registration, and all legal, accounting, printing and other expenses associated therewith. The Funds also pay the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 2,721,842 $ 2,321,539 $ 2,279,672 Waived Related Party Transactions $ 518,599 $ 1,052,715 $ 775,432 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated, and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value - Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Trust uses various valuation approaches. In accordance with U.S. GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Trust. Unobservable inputs reflect the Trust’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may not 1 2 3 On December 31, 2022 2021 no 1 2 For the quarter ended June 30, 2021, Sep21 Dec21 2 1 September 30, 2021. For the quarter ended March 31, 2021, Jul21 Sep21 Dec21 Jul21 Nov21 2 1 June 30, 2021, Sep21 Dec21 2 For the quarter ending June 30, 2020, DEC21 not, 2 DEC21 June 30, 2020. 1 September 30, 2020. The Funds and the Trust record their derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Investments in the securities of the Underlying Funds are freely traded and listed on the NYSE Arca. These investments are valued at the NAV of the Underlying Fund as of the valuation date as calculated by the administrator based on the exchange-quoted prices of the commodity futures contracts held by the Underlying Fund. Expenses Expenses are recorded using the accrual method of accounting. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: March 31, 2021; not The FASB issued ASU 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification. Revenue Recognition Commodity futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. The Fund seeks to earn interest on its assets denominated in U.S. dollars on deposit with the Futures Commission Merchant. In addition, the Fund earns interest on funds held at the custodian and at other financial institutions at prevailing market rates for such investments. The Sponsor invests a portion of cash in commercial paper, which is deemed a cash equivalent based on the rating and duration of contracts as described in the notes to the financial statements and reflected in cash and cash equivalents on the statements of assets and liabilities and statements of cash flows. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. The Sponsor invests a portion of the cash held by the broker in short term Treasury Bills as collateral for open futures contracts. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. Brokerage Commissions Beginning on August 21, 2019, December 31, 2020 2021 2022 CORN Year Ending December 31, 2022 $ 217,050 Year Ending December 31, 2021 $ 141,674 Year Ending December 31, 2020 $ 149,619 Income Taxes For federal income tax purposes, the Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Fund is required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Fund recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the years ended December 31, 2022 2021 2020 2019 The Fund may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 The Fund receives or pays the proceeds from shares sold or redeemed within three As outlined in the most recent Form S- 1 no Allocation of Shareholder Income and Losses Profit or loss is allocated among the shareholders of the Fund in proportion to the number of shares each shareholder holds as of the close of each month. Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 52,555,915 $ 11,399,662 $ 27,496,317 Demand Deposit Savings Accounts 25,538,663 50,122,297 40,210,208 Commercial Paper 64,340,159 53,490,781 70,474,536 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 142,434,737 $ 115,012,740 $ 138,181,061 Payable for Purchases of Commercial Paper The amount recorded by the Fund for commercial paper transactions awaiting settlement, which represents the amount payable for contracts purchased but not Due from/to Broker The amount recorded by the Fund for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Calculation of Net Asset Value The Fund’s NAV is calculated by: · Taking the current market value of its total assets and · Subtracting any liabilities The administrator, Global Fund Services, calculates the NAV of the Fund once each trading day. It calculates the NAV as of the earlier of the close of the NYSE or 4:00 4:15 In determining the value of Corn Futures Contracts, the administrator uses the CBOT closing price. The administrator determines the value of all other Fund investments as of the earlier of the close of the NYSE or 4:00 may third not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Sponsor is responsible for investing the assets of the Fund in accordance with the objectives and policies of the Fund. In addition, the Sponsor arranges for one third not The Fund generally pays for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, or any other regulatory agency in connection with the offer and sale of subsequent Shares after its initial registration and all legal, accounting, printing and other expenses associated therewith. The Fund also pays its portion of the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Funds based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 827,230 $ 1,095,188 $ 1,089,985 Waived Related Party Transactions $ 149,721 $ 535,622 $ 493,231 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no CORN Year Ended December 31, 2022 $ 345,855 Year Ended December 31, 2021 $ 1,060,261 Year Ended December 31, 2020 $ 849,396 Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value - Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Fund uses various valuation approaches. In accordance with GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may 1 2 3 On December 31, 2022 2021 no 1 2 For the quarter ended June 30, 2021, Sep21 Dec21 2 1 September 30, 2021. For the quarter ended March 31, 2021, Jul21 Sep21 Dec21 2 Jul21 1 June 30, 2021, Sep21 Dec21 1 September 30, 2021. The Fund records its derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Expenses Expenses are recorded using the accrual method of accounting. Net Income (Loss) per Share Net income (loss) per Share is the difference between the NAV per unit at the beginning of each period and at the end of each period. The weighted average number of Shares outstanding was computed for purposes of disclosing net income (loss) per weighted average Share. The weighted average Shares are equal to the number of Shares outstanding at the end of the period, adjusted proportionately for Shares created or redeemed based on the amount of time the Shares were outstanding during such period. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: December 15, 2020. March 31, 2021; not The FASB issued 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification. Revenue Recognition Commodity futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. Interest on cash equivalents with financial institutions are recognized on the accrual basis. The Fund seeks to earn interest on funds held at the custodian and other financial institutions at prevailing market rates for such investments. The Sponsor invests a portion of cash in commercial paper, which is deemed a cash equivalent based on the rating and duration of contracts as described in the notes to the financial statements and reflected in cash and cash equivalents on the statements of assets and liabilities and on the statements of cash flows. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. The Sponsor invests a portion of the cash held by the broker in short term Treasury Bills as collateral for open futures contracts. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. Brokerage Commissions Beginning on August 21, 2019, December 31, 2020 2021 2022 SOYB Year Ending December 31, 2022 $ 27,011 Year Ending December 31, 2021 $ 29,889 Year Ending December 31, 2020 $ 35,880 Income Taxes For federal income tax purposes, the Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Fund is required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Fund recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the years ended December 31, 2022 2021 2020 2019 The Fund may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 The Fund receives or pays the proceeds from shares sold or redeemed within three As outlined in the most recent Form S- 1 no Allocation of Shareholder Income and Losses Profit or loss is allocated among the shareholders of the Fund in proportion to the number of shares each shareholder holds as of the close of each month. Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 25,631,042 $ 11,462,494 $ 13,242,009 Demand Deposit Savings Accounts 5,143,495 10,059,937 32,671,497 Commercial Paper 27,438,032 21,497,453 44,484,885 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 58,212,569 $ 43,019,884 $ 90,398,391 Payable for Purchases of Commercial Paper The amount recorded by the Fund for commercial paper transactions awaiting settlement, which represents the amount payable for contracts purchased but not Due from/to Broker The amount recorded by the Fund for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Calculation of Net Asset Value The Fund’s NAV is calculated by: · Taking the current market value of its total assets and · Subtracting any liabilities The administrator, Global Fund Services, calculates the NAV of the Fund once each trading day. It calculates the NAV as of the earlier of the close of the NYSE or 4:00 4:15 In determining the value of Soybean Futures Contracts, the administrator uses the CBOT closing price. The administrator determines the value of all other Fund investments as of the earlier of the close of the NYSE or 4:00 may third not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Sponsor is responsible for investing the assets of the Fund in accordance with the objectives and policies of the Fund. In addition, the Sponsor arranges for one third not The Fund generally pays for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, or any other regulatory agency in connection with the offer and sale of subsequent Shares after its initial registration and all legal, accounting, printing and other expenses associated therewith. The Fund also pays its portion of the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Funds based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 261,124 $ 571,585 $ 547,998 Waived Related Party Transactions $ 32,056 $ 288,098 $ 194,347 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no SOYB Year Ended December 31, 2022 $ 89,562 Year Ended December 31, 2021 $ 576,014 Year Ended December 31, 2020 $ 399,518 Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value - Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Fund uses various valuation approaches. In accordance with U.S. GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may 1 2 3 On December 31, 2022 2021 no 1 2 For the quarter ended March 31, 2021, Jul21 Nov21 2 1 June 30, 2021. The Fund records its derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Expenses Expenses are recorded using the accrual method of accounting. Net Income (Loss) per Share Net income (loss) per Share is the difference between the NAV per unit at the beginning of each period and at the end of each period. The weighted average number of Shares outstanding was computed for purposes of disclosing net income (loss) per weighted average Share. The weighted average Shares are equal to the number of Shares outstanding at the end of the period, adjusted proportionately for Shares created or redeemed based on the amount of time the Shares were outstanding during such period. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: December 15, 2020. March 31, 2021; not The FASB issued 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Teucrium Sugar Fund [Member] | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification. Revenue Recognition Commodity futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. Interest on cash equivalents with financial institutions are recognized on the accrual basis. The Fund seeks to earn interest on funds held at the custodian and other financial institutions at prevailing market rates for such investments. The Sponsor invests a portion of cash in commercial paper, which is deemed a cash equivalent based on the rating and duration of contracts as described in the notes to the financial statements and reflected in cash and cash equivalents on the statements of assets and liabilities and on the statements of cash flows. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. The Sponsor invests a portion of the cash held by the broker in short term Treasury Bills as collateral for open futures contracts. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. Brokerage Commissions Beginning on August 21, 2019, December 31, 2020 2021 2022 CANE Year Ending December 31, 2022 $ 33,469 Year Ending December 31, 2021 $ 21,123 Year Ending December 31, 2020 $ 14,681 Income Taxes For federal income tax purposes, the Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Fund is required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Fund recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the years ended December 31, 2022 2021 2020 2019 The Fund may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 The Fund receives or pays the proceeds from shares sold or redeemed within three As outlined in the most recent Form S- 1 no Allocation of Shareholder Income and Losses Profit or loss is allocated among the shareholders of the Fund in proportion to the number of shares each shareholder holds as of the close of each month. Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 9,920,499 $ 4,816,883 $ 4,153,164 Demand Deposit Savings Accounts 3,069,677 9,016,479 5,197,140 Commercial Paper 9,987,304 7,499,540 2,499,028 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 22,977,480 $ 21,332,902 $ 11,849,332 Due from/to Broker The amount recorded by the Fund for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Calculation of Net Asset Value The Fund’s NAV is calculated by: · Taking the current market value of its total assets and · Subtracting any liabilities The administrator, Global Fund Services, calculates the NAV of the Fund once each trading day. It calculates the NAV as of the earlier of the close of the NYSE or 4:00 4:15 In determining the value of Sugar Futures Contracts, the administrator uses the ICE closing price. The administrator determines the value of all other Fund investments as of the earlier of the close of the NYSE or 4:00 may third not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Sponsor is responsible for investing the assets of the Fund in accordance with the objectives and policies of the Fund. In addition, the Sponsor arranges for one third not The Fund generally pays for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, , or any other regulatory agency in connection with the offer and sale of subsequent Shares after its initial registration and all legal, accounting, printing and other expenses associated therewith. The Fund also pays its portion of the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Funds based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 119,244 $ 124,660 $ 126,960 Waived Related Party Transactions $ 25,739 $ 48,034 $ 50,547 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no CANE Year Ended December 31, 2022 $ 78,237 Year Ended December 31, 2021 $ 134,294 Year Ended December 31, 2020 $ 210,614 Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Fund uses various valuation approaches. In accordance with U.S. GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may 1 2 3 On December 31, 2022 2021 no 1 2 For the years ended December 31, 2022 2021 not The Fund records its derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Expenses Expenses are recorded using the accrual method of accounting. Net Income (Loss) per Share Net income (loss) per Share is the difference between the NAV per unit at the beginning of each period and at the end of each period. The weighted average number of Shares outstanding was computed for purposes of disclosing net income (loss) per weighted average Share. The weighted average Shares are equal to the number of Shares outstanding at the end of the period, adjusted proportionately for Shares created or redeemed based on the amount of time the Shares were outstanding during such period. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: December 15, 2020. March 31, 2021; not The FASB issued 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Teucrium Wheat Fund [Member] | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification. Revenue Recognition Commodity futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. The Fund seeks to earn interest on its assets denominated in U.S. dollars on deposit with the Futures Commission Merchant. In addition, the Fund earns interest on funds held at the custodian and at other financial institutions at prevailing market rates for such investments. The Sponsor invests a portion of cash in commercial paper, which is deemed a cash equivalent based on the rating and duration of contracts as described in the notes to the financial statements and reflected in cash and cash equivalents on the statements of assets and liabilities and on the statements of cash flows. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. The Sponsor invests a portion of the cash held by the broker in short term Treasury Bills as collateral for open futures contracts. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. Brokerage Commissions Beginning on August 21, 2019, December 31, 2020 2021 2022 WEAT Year Ending December 31, 2022 $ 387,999 Year Ending December 31, 2021 $ 47,448 Year Ending December 31, 2020 $ 40,741 Income Taxes For federal income tax purposes, the Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Fund is required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Fund recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the years ended December 31, 2022 2021 2020 2019 The Fund may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 The Fund receives or pays the proceeds from shares sold or redeemed within three As outlined in the most recent Form S- 1 no Allocation of Shareholder Income and Losses Profit or loss is allocated among the shareholders of the Fund in proportion to the number of shares each shareholder holds as of the close of each month. Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 99,826,276 $ 5,284,993 $ 16,227,402 Demand Deposit Savings Accounts 12,309,984 30,064,031 17,730,566 Commercial Paper 97,594,565 37,492,592 34,988,757 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 209,730,825 $ 72,841,616 $ 68,946,725 Due from/to Broker The amount recorded by the Fund for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Calculation of Net Asset Value The Fund’s NAV is calculated by: · Taking the current market value of its total assets and · Subtracting any liabilities The administrator, Global Fund Services, calculates the NAV of the Fund once each trading day. It calculates the NAV as of the earlier of the close of the NYSE or 4:00 4:15 In determining the value of Wheat Futures Contracts, the administrator uses the CBOT closing price. The administrator determines the value of all other Fund investments as of the earlier of the close of the NYSE or 4:00 may third not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Sponsor is responsible for investing the assets of the Fund in accordance with the objectives and policies of the Fund. In addition, the Sponsor arranges for one third not The Fund generally pays for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, , or any other regulatory agency in connection with the offer and sale of subsequent Shares after its initial registration and all legal, accounting, printing and other expenses associated therewith. The Fund also pays its portion of the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Funds based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 1,388,272 $ 478,989 $ 503,823 Waived Related Party Transactions $ 224,587 $ 134,898 $ 27,789 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no WEAT Year Ended December 31, 2022 $ 425,164 Year Ended December 31, 2021 $ 307,565 Year Ended December 31, 2020 $ 81,190 Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value - Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Fund uses various valuation approaches. In accordance with U.S. GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may 1 2 3 On December 31, 2022 2021 no 1 2 For the period ended June 30, 2020, DEC21 not, 2 June 30, 2020 1 September 30, 2020. The Fund records its derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Expenses Expenses are recorded using the accrual method of accounting. Net Income (Loss) per Share Net income (loss) per Share is the difference between the NAV per unit at the beginning of each period and at the end of each period. The weighted average number of Shares outstanding was computed for purposes of disclosing net income (loss) per weighted average Share. The weighted average Shares are equal to the number of Shares outstanding at the end of the period, adjusted proportionately for Shares created or redeemed based on the amount of time the Shares were outstanding during such period. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: December 15, 2020. March 31, 2021; not The FASB issued 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Teucrium Agricultural Fund [Member] | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification. Revenue Recognition Investment transactions are accounted for on a trade-date basis. All such transactions are recorded on the identified cost basis and marked to market daily. Unrealized appreciation or depreciation on investments are reflected in the statements of assets and liabilities as the difference between the original amount and the fair market value as of the last business day of the year or as of the last date of the financial statements. Brokerage Commissions Brokerage commissions are accrued on the trade date and on a full-turn basis. Income Taxes For federal income tax purposes, the Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Fund is required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Fund recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the years ended December 31, 2022 2021 2020 2019 The Fund may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 The Fund will receive the proceeds from shares sold or will pay for redeemed shares within three As outlined in the most recent Form S- 1 no Allocation of Shareholder Income and Losses Profit or loss is allocated among the shareholders of the Fund in proportion to the number of shares each shareholder holds as of the close of each month. Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 may, December 31, 2022 December 31, 2021 Payable/Receivable for Securities Purchased/Sold Due from/to broker for investments in securities are securities transactions pending settlement. The Fund is subject to credit risk to the extent any broker with whom it conducts business is unable to fulfill contractual obligations on its behalf. The management of the Fund monitors the financial condition of such brokers and does not Calculation of Net Asset Value The Fund’s NAV is calculated by: · Taking the current market value of its total assets and · Subtracting any liabilities The administrator, Global Fund Services, will calculate the NAV of the Fund once each trading day. It will calculate the NAV as of the earlier of the close of the New York Stock Exchange or 4:00 4:15 For purposes of the determining the Fund’s NAV, the Fund’s investments in the Underlying Funds will be valued based on the Underlying Funds’ NAVs. In turn, in determining the value of the Futures Contracts held by the Underlying Funds, the Administrator will use the closing price on the exchange on which they are traded. The Administrator will determine the value of all other Fund and Underlying Fund investments as of the earlier of the close of the New York Stock Exchange or 4:00 may third not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Sponsor is responsible for investing the assets of the Fund in accordance with the objectives and policies of the Fund. In addition, the Sponsor arranges for one third not The Fund generally pays for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, or any other regulatory agency in connection with the offer and sale of subsequent Shares after its initial registration and all legal, accounting, printing and other expenses associated therewith. The Fund also pays its portion of the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Funds based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 125,972 $ 51,117 $ 10,906 Waived Related Party Transactions $ 86,496 $ 46,063 $ 9,518 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no TAGS Year Ended December 31, 2022 $ 262,928 Year Ended December 31, 2021 $ 105,722 Year Ended December 31, 2020 $ 39,833 Expenses Expenses are recorded using the accrual method of accounting. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: December 15, 2020. March 31, 2021; not The FASB issued 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not Fair Value - Definition and Hierarchy In accordance with GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Fund uses various valuation approaches. In accordance with GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may 1 2 3 The determination is made as of the settlement of the underlying futures contracts on the last day of trading for the reporting period. In making the determination of a Level 1 2 Investments in the financial instruments of the Underlying Funds are freely tradable and listed on the NYSE Arca. These investments are valued at the NAV of the Underlying Fund as of the valuation date as calculated by the administrator based on the exchange-quoted prices of the commodity futures contracts held by the Underlying Funds. Net Income (Loss) per Share Net income (loss) per Share is the difference between the NAV per unit at the beginning of each period and at the end of each period. The weighted average number of Shares outstanding was computed for purposes of disclosing net income (loss) per weighted average Share. The weighted average Shares are equal to the number of Shares outstanding at the end of the period, adjusted proportionately for Shares created or redeemed based on the amount of time the Shares were outstanding during such period. |
Hashdex Bitcoin Futures ETF [Member] | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification. Revenue Recognition Investment transactions are accounted for on a trade-date basis. All such transactions are recorded on the identified cost basis and marked to market daily. Unrealized appreciation or depreciation on investments are reflected in the statements of operations as the difference between the original amount and the fair market value as of the last business day of the year or as of the last date of the financial statements. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. Brokerage Commissions The Sponsor recognizes the expense for brokerage commissions for futures contract trades on a per-trade basis. The below table shows the amounts included on the statements of operations as total brokerage commissions paid inclusive of unrealized loss from the commencement of operations ( September 15, 2022) December 31, 2022 DEFI Period Ended December 31, 2022 $ 2,217 Income Taxes For federal income tax purposes, the Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not There is very limited authority on the U.S. federal income tax treatment of bitcoin and no not 7704 7704 not no not not The Fund recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and from the commencement of operations ( September 15, 2022) December 31, 2022 The Fund may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 The Fund will receive the proceeds from shares sold or will pay for redeemed shares within three As outlined in the most recent Form S- 1 no Allocation of Shareholder Income and Losses Profit or loss is allocated among the shareholders of the Fund in proportion to the number of shares each shareholder holds as of the close of each month. Cash Equivalents Cash equivalents are highly liquid investments with maturity dates of 90 may, December 31, 2022 Due from/to Broker The amount recorded by the Fund for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a cryptocurrency interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a very small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Calculation of Net Asset Value The Fund’s NAV is calculated by: • Taking the current market value of its total assets and • Subtracting any liabilities. The administrator, Global Fund Services, will calculate the NAV of the Fund once each trading day. It will calculate the NAV as of the earlier of the close of the New York Stock Exchange or 4:00 4:15 In determining the value of Bitcoin Futures Contracts, the Administrator uses the settlement price for the Benchmark Component Futures Contracts, as reported on the CME. CME Group staff determines the daily settlements for the Benchmark Component Futures Contracts based on trading activity on CME Globex exchange between 14:59:00 15:00:00 may 4:00 not Sponsor Fee Allocation of Expenses and Related Party Transactions The Sponsor is responsible for investing the assets of the Fund in accordance with the objectives and policies of the Fund. DEFI is contractually obligated to pay a monthly management fee to the Sponsor, based on average daily net assets, at a rate equal to 0.94% per annum. From the Management Fee, the Sponsor pays all of the routine operational, administrative and other ordinary expenses of the Fund, generally as determined by the Sponsor, including but not 1 not not not not The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there will be no DEFI Period Ended December 31, 2022 $ 75,291 Expenses Expenses are recorded using the accrual method of accounting. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not September 30, 2022; not Fair Value - Definition and Hierarchy In accordance with GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Fund uses various valuation approaches. In accordance with GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may On December 31, 2022 no Net Income (Loss) per Share Net income (loss) per share is the difference between the NAV per unit at the beginning of each period and at the end of each period. The weighted average number of units outstanding was computed for purposes of disclosing net income (loss) per weighted average unit. The weighted average units are equal to the number of units outstanding at the end of the period, adjusted proportionately for units created or redeemed based on the amount of time the units were outstanding during such period. |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 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. December 31, 2022 December 31, 2021 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 388,000,477 $ - $ - $ 388,000,477 Commodity and Cryptocurrency Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Soybean futures contracts 2,520,370 - - 2,520,370 Sugar futures contracts 911,329 - - 911,329 Wheat futures contracts 3,160,732 - - 3,160,732 Bitcoin futures contracts 29,152 - - 29,152 Total $ 396,207,858 $ - $ - $ 396,207,858 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Sugar futures contracts 85,128 - - 85,128 Wheat futures contracts 26,380,838 - - 26,380,838 Total $ 29,433,069 $ - $ - $ 29,433,069 December 31, 2021 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 152,949,199 $ - $ - $ 152,949,199 Commodity Futures Contracts Corn futures contracts 5,936,552 - - 5,936,552 Soybean futures contracts 2,684,851 - - 2,684,851 Sugar futures contracts 1,079,226 - - 1,079,226 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 166,364,500 $ - $ - $ 166,364,500 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Commodity Futures Contracts Sugar futures contracts $ 80,506 $ - $ - $ 80,506 Wheat futures contracts 654,969 - - 654,969 Total $ 735,475 $ - $ - $ 735,475 For the years ended December 31, 2022 2021 not 1 2 See the Fair Value - Definition and Hierarchy 4 |
Note 5 - Derivative Instruments
Note 5 - Derivative Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 5 In the normal course of business, the Funds utilize derivative contracts in connection with its proprietary trading activities. Investments in derivative contracts are subject to additional risks that can result in a loss of all or part of an investment. The Funds’ derivative activities and exposure to derivative contracts are classified by the following primary underlying risks: interest rate, credit, commodity price, and equity price risks. In addition to its primary underlying risks, the Funds are also subject to additional counterparty risk due to inability of its counterparties to meet the terms of their contracts. For the years ended December 31, 2022 2021 Futures Contracts The Funds are subject to commodity and cryptocurrency price risk in the normal course of pursuing their investment objectives. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. The purchase and sale of futures contracts requires margin deposits with an FCM. Subsequent payments (variation margin) are made or received by each Fund each day, depending on the daily fluctuations in the value of the contract, and are recorded as unrealized gains or losses by each Fund. Futures contracts may The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other equity deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in FASB ASU No. 2011 11 210 2013 01 210 The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCMs, Marex and StoneX as of December 31, 2022 2021 not 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 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 2021 (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 Corn futures contracts $ 5,936,552 $ - $ 5,936,552 $ - $ - $ 5,936,552 Soybean futures contracts $ 2,684,851 $ - $ 2,684,851 $ - $ 675,169 $ 2,009,682 Sugar futures contracts $ 1,079,226 $ - $ 1,079,226 $ 80,506 $ - $ 998,720 Wheat futures contracts $ 3,714,672 $ - $ 3,714,672 $ 654,969 $ 213,708 $ 2,845,995 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2021 (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 $ 80,506 $ - $ 80,506 $ 80,506 $ - $ - Wheat futures contracts $ 654,969 $ - $ 654,969 $ 654,969 $ - $ - The following is a summary of realized and net change in unrealized gains (losses) of the derivative instruments utilized by the Trust: Year ended December 31, 2022 Realized Gain (Loss) on Commodity and Cryptocurrency Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity and Cryptocurrency Futures Contracts Commodity and Cryptocurrency Price Corn futures contracts $ 28,784,977 $ (7,317,857 ) Soybean futures contracts 10,362,032 (164,481 ) Sugar futures contracts (442,477 ) (172,519 ) Wheat futures contracts (81,457,408 ) (26,279,809 ) Bitcoin futures contracts (423,794 ) 29,152 Total commodity futures contracts $ (43,176,670 ) $ (33,905,514 ) Year ended December 31, 2021 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 65,827,118 $ (14,218,054 ) Soybean futures contracts 27,370,674 (12,439,375 ) Sugar futures contracts 6,223,228 (408,983 ) Wheat futures contracts 18,418,461 (2,678,459 ) Total commodity futures contracts $ 117,839,481 $ (29,744,871 ) Year ended December 31, 2020 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 5,882,216 $ 19,371,125 Soybean futures contracts 14,404,714 14,192,330 Sugar futures contracts (656,937 ) 1,060,274 Wheat futures contracts 5,461,905 669,686 Total commodity futures contracts $ 25,091,898 $ 35,293,415 Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $653.8 million in 2022 2021 2020 |
Note 6 - Organizational and Off
Note 6 - Organizational and Offering Costs | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Organizational and Offering Costs [Text Block] | Note 6 Expenses incurred in organizing of the Trust and the initial offering of the shares, including applicable SEC registration fees, were borne directly by the Sponsor for the Funds and will be borne directly by the Sponsor for any series of the Trust which is not not |
Note 7 - Detail of the Net Asse
Note 7 - Detail of the Net Assets and Shares Outstanding of the Funds that are a Series of the Trust | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 7 The following are the net assets and shares outstanding of each Fund that is a series of the Trust and, thus, in total, comprise the combined net assets of the Trust: December 31, 2022 Outstanding Shares Net Assets Teucrium Corn Fund 5,675,004 $ 152,638,405 Teucrium Soybean Fund 2,050,004 58,429,985 Teucrium Sugar Fund 2,550,004 24,262,359 Teucrium Wheat Fund 28,675,004 228,972,039 Hashdex Bitcoin Futures ETF 50,004 1,070,263 Teucrium Agricultural Fund: 1,262,502 Net assets including the investment in the Underlying Funds 39,575,245 Less: Investment in the Underlying Funds 39,572,698 Net for the Fund in the combined net assets of the Trust 2,547 Total $ 465,375,598 December 31, 2021 Outstanding Shares Net Assets Teucrium Corn Fund 5,600,004 $ 120,846,256 Teucrium Soybean Fund 1,975,004 44,972,625 Teucrium Sugar Fund 2,475,004 22,834,664 Teucrium Wheat Fund 10,250,004 75,621,587 Teucrium Agricultural Fund: 525,002 Net assets including the investment in the Underlying Funds 14,179,655 Less: Investment in the Underlying Funds (14,178,019 ) Net for the Fund in the combined net assets of the Trust 1,636 Total $ 264,276,768 The detailed information for the subscriptions and redemptions, and other financial information for each Fund that is a series of the Trust are included in the accompanying financial statements of each Fund. |
Note 8 - Subsequent Events
Note 8 - Subsequent Events | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Management has evaluated the financial statements for the year-ended December 31, 2022 no CORN: Nothing to report. SOYB: The total net assets of the Fund decreased by $15,131,868, or 26%, for the period December 31, 2022 February 28, 2023. CANE: Nothing to report. WEAT: The total net assets of the Fund decreased by $46,724,300, or 20%, for the period December 31, 2022 February 28, 2023. TAGS: Nothing to report. DEFI: The total net assets of the Fund increased by $431,977, or 40%, for the period December 31, 2022 February 28, 2023. |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Management has evaluated the financial statements for the year-ended December 31, 2022 no The total net assets of the Fund decreased by $15,131,868, or 26%, for the period December 31, 2022 February 28, 2023. |
Teucrium Wheat Fund [Member] | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 - Subsequent Events Management has evaluated the financial statements for the year-ended December 31, 2022 no The total net assets of the Fund decreased by $46,724,300, or 20%, for the period December 31, 2022 February 28, 2023 |
Hashdex Bitcoin Futures ETF [Member] | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the period ended December 31, 2022 no The total net assets of the Fund increased by $431,977, or 40%, for the period December 31, 2022 February 28, 2023. |
Schedule of Investments - Teucr
Schedule of Investments - Teucrium Corn Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Investment Holdings, Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS December 31, 2022 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 28,382,122 $ 28,382,122 6.10 % 28,382,122 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 160,258,295 160,258,295 34.44 160,258,295 Total money market funds $ 188,640,417 $ 188,640,417 40.54 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 1.07 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 14,877,488 14,968,886 3.22 15,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % 4,959,225 4,989,644 1.07 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 9,935,000 9,972,500 2.14 10,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 9,899,472 9,943,862 2.14 10,000,000 Crown Castle Inc. January 10, 2023 4.877 % 7,443,000 7,491,000 1.61 7,500,000 Crown Castle Inc. January 12, 2023 4.765 % 12,449,410 12,482,050 2.68 12,500,000 Entergy Corporation January 4, 2023 4.311 % 9,926,808 9,996,460 2.15 10,000,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 12,400,060 12,486,207 2.68 12,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 7,418,417 7,484,417 1.61 7,500,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 2.15 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 5,461,843 5,491,823 1.18 5,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 5,263,032 5,298,631 1.14 5,300,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 1.61 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 4,959,561 4,977,688 1.07 5,000,000 Humana Inc. January 9, 2023 4.670 % 7,448,250 7,492,333 1.61 7,500,000 Hyundai Capital America January 10, 2023 4.000 % 9,903,645 9,990,145 2.15 10,000,000 ITT Inc. January 19, 2023 4.475 % 4,965,088 4,988,975 1.07 5,000,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 1.07 5,000,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 1.07 5,000,000 Oracle Corporation January 17, 2023 4.361 % 9,931,919 9,980,889 2.14 10,000,000 V.F. Corporation January 17, 2023 4.364 % 4,959,390 4,990,444 1.07 5,000,000 V.F. Corporation February 2, 2023 4.669 % 6,456,811 6,473,422 1.39 6,500,000 VW Credit, Inc. January 19, 2023 4.434 % 7,448,106 7,483,613 1.61 7,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 4,970,188 4,971,512 1.07 5,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 4,959,098 4,961,736 1.07 5,000,000 Total Commercial Paper $ 198,351,250 $ 199,360,060 42.84 % Total Cash Equivalents $ 388,000,477 83.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 0.34 % $ 45,779,763 United States soybean futures contracts CBOT soybean futures MAR23 268 642,912 0.14 20,421,600 CBOT soybean futures MAY23 229 807,218 0.17 17,518,500 CBOT soybean futures NOV23 289 1,070,240 0.23 20,472,038 United States sugar futures contracts ICE sugar futures MAY23 401 356,963 0.08 8,407,526 ICE sugar futures JUL23 362 554,366 0.12 7,289,811 United States wheat futures contracts CBOT wheat futures JUL23 1,711 3,160,732 0.68 68,696,650 United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 24,979 0.01 496,050 CME Bitcoin futures FEB23 7 4,173 0.00 575,575 Total commodity and cryptocurrency futures contracts $ 8,207,381 1.77 % $ 189,657,513 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.16 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 0.48 53,440,625 United States sugar futures contracts ICE sugar futures MAR24 427 85,128 0.02 8,565,278 United States wheat futures contracts CBOT wheat futures MAY23 2,005 7,079,231 1.52 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 4.15 80,220,450 Total commodity and cryptocurrency futures contracts $ 29,433,069 6.33 % $ 275,693,541 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 9,885,980 2.12 % 367,555 Teucrium Soybean Fund 9,921,042 2.13 348,075 Teucrium Sugar Fund 9,745,653 2.09 1,024,284 Teucrium Wheat Fund 10,020,023 2.15 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 8.49 % *The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. The accompanying notes are an integral part of these financial statements. TEUCRIUM COMMODITY TRUST COMBINED SCHEDULE OF INVESTMENTS December 31, 2021 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 30,443,449 $ 30,443,449 11.52 % 30,443,449 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,525,384 2,525,384 0.96 2,525,384 Total money market funds $ 32,968,833 $ 32,968,833 12.48 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 9,996,324 $ 9,998,489 3.78 % 10,000,000 Albemarle Corporation January 11, 2022 0.200 % 4,998,834 4,999,722 1.89 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 0.95 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 7,497,300 7,499,867 2.84 7,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 4,998,710 4,999,646 1.89 5,000,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 4,998,000 4,999,889 1.89 5,000,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 9,995,111 9,998,333 3.78 10,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 4,998,800 4,999,956 1.89 5,000,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 9,996,061 9,999,444 3.78 10,000,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 4,997,876 4,999,268 1.89 5,000,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 4,997,328 4,997,918 1.89 5,000,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 1.89 5,000,000 Jabil Inc. January 20, 2022 0.250 % 2,499,219 2,499,670 0.95 2,500,000 Jabil Inc. February 8, 2022 0.300 % 7,496,063 7,497,625 2.84 7,500,000 Jabil Inc. February 25, 2022 0.310 % 4,996,900 4,997,632 1.89 5,000,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 1.89 5,000,000 Viatris Inc. February 11, 2022 0.300 % 4,996,625 4,998,292 1.89 5,000,000 Viatris Inc. March 1, 2022 0.310 % 4,996,986 4,997,460 1.89 5,000,000 Viatris Inc. January 21, 2022 0.200 % 4,998,584 4,999,444 1.89 5,000,000 WGL Holdings, Inc. January 12, 2022 0.220 % 4,998,686 4,999,664 1.89 5,000,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 1.89 5,000,000 Total Commercial Paper $ 119,951,019 $ 119,980,366 45.38 % Total Cash Equivalents $ 152,949,199 57.86 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 1.43 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.07 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 0.75 42,533,400 United States soybean futures contracts CBOT soybean futures MAR22 234 591,547 0.22 15,669,225 CBOT soybean futures MAY22 199 1,008,504 0.38 13,422,550 CBOT soybean futures NOV22 250 1,084,800 0.41 15,865,625 United States sugar futures contracts ICE sugar futures MAY22 381 225,299 0.09 7,936,992 ICE sugar futures MAR23 392 853,927 0.32 8,091,507 United States wheat futures contracts CBOT wheat futures MAY22 687 1,809,796 0.68 26,595,488 CBOT wheat futures DEC22 686 1,904,876 0.72 26,411,000 Total commodity futures contracts $ 13,415,301 5.07 % $ 234,855,437 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.03 % $ 6,817,541 United States wheat futures contracts CBOT wheat futures JUL22 593 654,969 0.25 22,667,425 Total commodity futures contracts $ 735,475 0.28 % $ 29,484,966 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,537,560 1.34 % 163,930 Teucrium Soybean Fund 3,538,006 1.34 155,374 Teucrium Sugar Fund 3,591,878 1.36 389,317 Teucrium Wheat Fund 3,510,575 1.33 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 5.37 % *The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. The accompanying notes are an integral part of these financial statements. |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Investment Holdings, Schedule of Investments [Text Block] | SCHEDULE OF INVESTMENTS December 31, 2022 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 3,498,444 $ 3,498,444 2.29 % 3,498,444 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 49,057,471 49,057,471 32.14 49,057,471 Total money market funds $ 52,555,915 $ 52,555,915 34.43 % Maturity Percentage of Date Yield Cost Fair Value Net Assets Principal Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 7,438,744 $ 7,484,443 $ 4.90 7,500,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 2,483,750 2,493,125 1.63 2,500,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 4,949,736 4,971,931 3.26 5,000,000 Crown Castle Inc. January 10, 2023 4.877 % 2,481,000 2,497,000 1.64 2,500,000 Crown Castle Inc. January 12, 2023 4.765 % 4,979,764 4,992,820 3.27 5,000,000 Entergy Corporation January 4, 2023 4.311 % 2,481,702 2,499,115 1.64 2,500,000 General Motors Financial Company, Inc. January 10, 2023 4.618 % 7,449,762 7,491,469 4.91 7,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 2,472,806 2,494,806 1.63 2,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 2,482,562 2,499,354 1.64 2,500,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 4.90 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 2,479,781 2,488,844 1.63 2,500,000 Hyundai Capital America January 10, 2023 4.000 % 2,475,911 2,497,536 1.64 2,500,000 ITT Inc. January 19, 2023 4.475 % 2,482,544 2,494,487 1.63 2,500,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 3.27 5,000,000 Oracle Corporation January 17, 2023 4.361 % 2,482,980 2,495,222 1.63 2,500,000 V.F. Corporation February 2, 2023 4.669 % 1,986,711 1,991,822 1.30 2,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 2,479,549 2,480,868 1.63 2,500,000 Total Commercial Paper $ 64,046,259 $ 64,340,159 42.15 % Total Cash Equivalents $ 116,896,074 76.58 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 1.04 % $ 45,779,763 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.49 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 1.45 53,440,625 Total commodity futures contracts $ 2,967,103 1.94 % $ 106,833,125 The accompanying notes are an integral part of these financial statements. TEUCRIUM CORN FUND SCHEDULE OF INVESTMENTS December 31, 2021 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.260 % $ 11,397,154 $ 11,397,154 9.43 % 11,397,154 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,508 2,508 0.00 2,508 Total money market funds $ 11,399,662 $ 11,399,662 9.43 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % 7,497,243 $ 7,498,867 $ 6.20 7,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 2,499,000 2,499,955 2.07 2,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 2,499,355 2,499,823 2.07 2,500,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 2,499,000 2,499,944 2.07 2,500,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 3,498,289 3,499,417 2.89 3,500,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 2,499,400 2,499,978 2.07 2,500,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 7,497,046 7,499,583 6.20 7,500,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 2,498,664 2,498,959 2.07 2,500,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 4.14 5,000,000 Jabil Inc. February 8, 2022 0.300 % 4,997,375 4,998,417 4.13 5,000,000 Jabil Inc. February 25, 2022 0.310 % 2,498,450 2,498,816 2.07 2,500,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 4.14 5,000,000 Viatris Inc. March 1, 2022 0.310 % 2,498,493 2,498,730 2.07 2,500,000 WGL Holdings, Inc. January 12, 2022 0.220 % 2,499,343 2,499,832 2.07 2,500,000 Total Commercial Paper $ 53,477,549 $ 53,490,781 44.26 % Total Cash Equivalents $ 64,890,443 53.69 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 3.12 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.16 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 1.63 42,533,400 Total commodity futures contracts $ 5,936,552 4.91 % $ 120,863,050 The accompanying notes are an integral part of these financial statements. |
Note 1 - Organization and Ope_2
Note 1 - Organization and Operation - Teucrium Corn Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009, On June 7, 2010, 1 June 8, 2010, June 9, 2010. April 7, 2022. On June 13, 2011, 1 September 16, 2011, September 19, 2011, April 7, 2022. March 9, 2022. On February 10, 2012, 1 March 27, 2012, March 28, 2012. April 7, 2022. On September 14, 2022, 1 September 15, 2022, September 16, 2022. Teucrium Trading, LLC is the sponsor (“Sponsor”) of the Trust. The Sponsor is a member of the National Futures Association (the “NFA”) and became a commodity pool operator (“CPO”) registered with the Commodity Futures Trading Commission (the “CFTC”) effective November 10, 2009. September 8, 2017. The specific investment objective of each Fund and information regarding the organization and operation of each Fund are included in each Fund’s financial statements and accompanying notes, as well as in other sections of this Form 10 Subject to the terms of the Trust Agreement, Teucrium Trading, LLC in its capacity as the Sponsor (“Sponsor”) may no |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Corn Fund (referred to herein as “CORN,” or the “Fund”) is a commodity pool that is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust formed on September 11, 2009. The investment objective of CORN is to have the daily changes in the NAV of the Fund’s Shares reflect the daily changes in the corn market for future delivery as measured by the Benchmark. The Benchmark is a weighted average of the closing settlement prices for three futures contracts for corn (“Corn Futures Contracts”) that are traded on the Chicago Board of Trade (“CBOT”): CORN Benchmark CBOT Corn Futures Contract Weighting Second to expire 35% Third to expire 30% December following the third to expire 35% The Fund commenced investment operations on June 9, 2010 December 31. On June 7, 2010, 1 June 8, 2010, June 9, 2010. April 7, 2022. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor , may no |
Note 2 - Principal Contracts _2
Note 2 - Principal Contracts and Agreements - Teucrium Corn Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 The Sponsor employs U.S. Bank N.A. as the Custodian for the Funds. The principal business address for U.S. Bank N.A is 1555 302, 53212. 615 53202. For custody services, the Funds will pay to U.S. Bank N.A. 0.0075% of average gross assets up to $1 $1 first $500 $500 $2 $3 The Sponsor employs Foreside Fund Services, LLC (“Foreside” or the “Distributor”) as the Distributor for the Funds. The Distribution Services Agreement among the Distributor and the Sponsor calls for the Distributor to work with the Custodian in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising materials. The Distributor and the Sponsor have also entered into a Securities Activities and Service Agreement (the “SASA”) under which certain employees and officers of the Sponsor are licensed as registered representatives or registered principals of the Distributor, under Financial Industry Regulatory Authority (“FINRA”) rules. For its services as the Distributor, Foreside receives a fee of 0.01% of the Fund’s average daily net assets and an aggregate annual fee of $100,000 for all Teucrium Funds, along with certain expense reimbursements. For its services under the SASA, Foreside receives a fee of $5,000 per registered representative and $1,000 per registered location. These services are recorded in distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below. Pursuant to a Consulting Services Agreement, Foreside Consulting Services, LLC, performs certain consulting support services for the Trust’s Sponsor. Additionally, Foreside Distributors, LLC performs certain distribution consulting services pursuant to a Distribution Consulting Agreement with the Trust’s Sponsor. Marex Capital Markets, Inc. (“Marex”), StoneX Financial Inc. (“StoneX”) and Phillip Capital Inc. (“Phillip Capital”) serve as the Funds’ clearing brokers to execute and clear futures contracts and provide other brokerage-related services. Marex, StoneX and Phillip Capital are each registered as futures commission merchants (“FCM”) with the U.S. CFTC and are members of the NFA. The clearing brokers are registered as broker-dealers with the SEC and are each a member of FINRA. Marex, StoneX and Phillip Capital are each clearing members of ICE Futures U.S., Inc., Chicago Board of Trade, Chicago Mercantile Exchange, New York Mercantile Exchange, and all other major United States commodity exchanges. For Corn, Soybean, Sugar and Wheat Futures Contracts, Marex is paid $11.00 per round turn. StoneX is paid $2.50 per round turn exclusive of pass-through fees for the exchange and the NFA. Additionally, if the monthly commissions paid by each Fund does not Brokerage Commissions The sole Trustee of the Trust is Wilmington Trust Company, a Delaware banking corporation. The Trustee will accept service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act. For its services, the Trustee receives an annual fee of $3,300 from the Trust. These services are recorded in business permits and licenses fees on the combined statements of operations. A summary of these expenses is included below. The Sponsor employs Thales Capital Partners LLC (“Thales”) for distribution and solicitation-related services. Thales is registered as a Broker-Dealer with the SEC and a member of Financial Industry Regulatory Authority (FINRA) and SIPC. Thales receives a quarterly fee of $18,750 or 0.10% of new assets raised in referred accounts for distribution and solicitation-related services. This fee based on new assets raised is determined by an agreed upon level of assets at the time of signing the contract. These services are recorded in distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below: Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 410,660 $ 363,000 $ 369,293 Amount of Custody Services Waived $ 42,625 $ 120,850 $ 71,342 Amount Recognized for Distribution Services $ 200,313 $ 186,531 $ 180,024 Amount of Distribution Services Waived $ 48,593 $ 94,724 $ 68,140 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 550 $ 991 $ 2,215 Amount Recognized for Thales $ 278,958 $ 297,222 $ 116,901 Amount of Thales Waived $ 106,944 $ 153,198 $ 57,988 |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 The Sponsor employs U.S. Bank N.A. as the Custodian for the Funds. The principal business address for U.S. Bank N.A is 1555 302, 53212. 615 53202. For custody services, the Funds will pay to U.S. Bank N.A. 0.0075% of average gross assets up to $1 $1 first $500 $500 $2 $3 The Sponsor employs Foreside Fund Services, LLC (“Foreside” or the “Distributor”) as the Distributor for the Funds. The Distribution Services Agreement among the Distributor and the Sponsor calls for the Distributor to work with the Custodian in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising materials. The Distributor and the Sponsor have also entered into a Securities Activities and Service Agreement (the “SASA”) under which certain employees and officers of the Sponsor are licensed as registered representatives or registered principals of the Distributor, under Financial Industry Regulatory Authority (“FINRA”) rules. For its services as the Distributor, Foreside receives a fee of 0.01% of the Fund’s average daily net assets and an aggregate annual fee of $100,000 for all Teucrium Funds, along with certain expense reimbursements. For its services under the SASA, Foreside receives a fee of $5,000 per registered representative and $1,000 per registered location. These services are recorded in distribution and marketing fees on the statements of operations. A summary of these expenses is included below. Pursuant to a Consulting Services Agreement, Foreside Consulting Services, LLC, performs certain consulting support services for the Trust’s Sponsor. Additionally, Foreside Distributors, LLC performs certain distribution consulting services pursuant to a Distribution Consulting Agreement with the Trust’s Sponsor. Marex Capital Markets, Inc. (“Marex”) and StoneX Financial Inc. (“StoneX”) serve as the Funds’ clearing brokers to execute and provide other brokerage-related services. Marex and StoneX are each registered as futures commission merchants (“FCM”) with the U.S. CFTC and are members of the NFA. The clearing brokers are registered as broker-dealers with the SEC and are each a member of FINRA. Marex and StoneX are each clearing members of ICE Futures U.S., Inc., Chicago Board of Trade, Chicago Mercantile Exchange, New York Mercantile Exchange, and all other major United States commodity exchanges. For Corn, Soybean, Sugar, and Wheat Futures Contracts Marex is paid $11.00 per round turn. StoneX is paid $2.50 per round turn exclusive of pass-through fees for the exchange and the NFA. Additionally, if the monthly commissions paid by each Fund does not The sole Trustee of the Trust is Wilmington Trust Company, a Delaware banking corporation. The Trustee will accept service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act. For its services, the Trustee receives an annual fee of $3,300 from the Trust. These services are recorded in business permits and licenses fees on the statements of operations. A summary of these expenses is included below. The Sponsor employs Thales Capital Partners LLC (“Thales”) for distribution and solicitation-related services. Thales is registered as a Broker-Dealer with the SEC and a member of FINRA and the Securities Investor Protection Corporation (“SIPC”). Thales receives a quarterly fee of the higher of $18,750 or 0.10% of new assets raised in referred accounts for distribution and solicitation-related services. This fee based on new assets raised is determined by an agreed upon level of assets at the time of signing the contract. These services are recorded in distribution and marketing fees on the statements of operations. A summary of these expenses is included below: Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 110,365 $ 170,890 $ 174,070 Amount of Custody Services Waived $ 4,000 $ 59,872 $ 52,728 Amount Recognized for Distribution Services $ 60,803 $ 88,049 $ 86,151 Amount of Distribution Services Waived $ 17,010 $ 40,063 $ 28,816 Amount Recognized for Wilmington Trust $ 550 $ 1,520 $ 1,511 Amount of Wilmington Trust Waived $ - $ - $ 1,511 Amount Recognized for Thales $ 90,561 $ 138,657 $ 56,292 Amount of Thales Waived $ 27,193 $ 80,945 $ 22,621 |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies - Teucrium Corn Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared on a combined basis in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification and include the accounts of the Trust, CORN, CANE, SOYB, WEAT, TAGS and DEFI. Refer to the accompanying separate financial statements for each Fund for more detailed information. For the periods represented by the financial statements herein the operations of the Trust contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI except for eliminations for TAGS as explained below for the months during which each Fund was in operation. Given the investment objective of TAGS as described in Note 1 Revenue Recognition Commodity and Cryptocurrency futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. The Funds seek to earn interest on their assets denominated in U.S. dollars on deposit with the Futures Commission Merchant. In addition, the Funds seek to earn interest on funds held at the custodian and at other financial institutions at prevailing market rates for such investments. The Sponsor may The Sponsor may Brokerage Commissions Beginning on August 21, 2019, December 31, 2022 2021 2020 CORN SOYB CANE WEAT TAGS DEFI TRUST Year Ending December 31, 2022 $ 217,050 $ 27,011 $ 33,469 $ 387,999 $ - $ 2,217 $ 667,746 Year Ending December 31, 2021 $ 141,674 $ 29,889 $ 21,123 $ 47,448 $ - $ - $ 240,134 Year Ending December 31, 2020 $ 149,619 $ 35,880 $ 14,681 $ 40,741 $ 1 $ - $ 240,922 Income Taxes The Trust is organized and will be operated as a Delaware statutory trust. For federal income tax purposes, each Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Funds are required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Funds recognize interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized for the years ending December 31, 2022 2021 2020 2019 The Funds may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 Each Fund receives or pays the proceeds from shares sold or redeemed within three There are a minimum number of baskets and associated shares specified for each Fund in the Fund’s respective prospectus, as amended from time to time. Once the minimum number of baskets is reached, there can be no CORN: 50,000 shares representing 2 baskets SOYB: 50,000 shares representing 2 baskets CANE: 50,000 shares representing 2 baskets WEAT: 50,000 shares representing 2 baskets TAGS: 50,000 shares representing 4 baskets DEFI: 50,000 shares representing 5 baskets Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 188,640,417 $ 32,968,833 $ 61,121,678 Demand Deposit Savings Accounts 46,061,819 99,262,744 95,809,411 Commercial Paper 199,360,060 119,980,366 152,447,206 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 434,062,296 $ 252,211,943 $ 309,378,295 Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement, which represents the amount payable for contracts purchased but not Due from/to Broker The amount recorded by the Trust for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one Payable/Receivable for Securities Purchased/Sold Due from/to broker for investments in securities are securities transactions pending settlement. The Trust and the Funds are subject to credit risk to the extent any broker with whom it conducts business is unable to fulfill contractual obligations on its behalf. The management of the Trust and the Funds monitors the financial condition of such brokers and does not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Fund’s sponsor, Teucrium Trading, LLC (the “Sponsor”), is responsible for investing the assets of the Funds in accordance with the objectives and policies of each Fund. In addition, the Sponsor arranges for one third not no .94% The Agricultural Funds generally pay for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, or any other regulatory agency in connection with the offer and sale of subsequent Shares, after its initial registration, and all legal, accounting, printing and other expenses associated therewith. The Funds also pay the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 2,721,842 $ 2,321,539 $ 2,279,672 Waived Related Party Transactions $ 518,599 $ 1,052,715 $ 775,432 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated, and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value - Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Trust uses various valuation approaches. In accordance with U.S. GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Trust. Unobservable inputs reflect the Trust’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may not 1 2 3 On December 31, 2022 2021 no 1 2 For the quarter ended June 30, 2021, Sep21 Dec21 2 1 September 30, 2021. For the quarter ended March 31, 2021, Jul21 Sep21 Dec21 Jul21 Nov21 2 1 June 30, 2021, Sep21 Dec21 2 For the quarter ending June 30, 2020, DEC21 not, 2 DEC21 June 30, 2020. 1 September 30, 2020. The Funds and the Trust record their derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Investments in the securities of the Underlying Funds are freely traded and listed on the NYSE Arca. These investments are valued at the NAV of the Underlying Fund as of the valuation date as calculated by the administrator based on the exchange-quoted prices of the commodity futures contracts held by the Underlying Fund. Expenses Expenses are recorded using the accrual method of accounting. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: March 31, 2021; not The FASB issued ASU 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification. Revenue Recognition Commodity futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. The Fund seeks to earn interest on its assets denominated in U.S. dollars on deposit with the Futures Commission Merchant. In addition, the Fund earns interest on funds held at the custodian and at other financial institutions at prevailing market rates for such investments. The Sponsor invests a portion of cash in commercial paper, which is deemed a cash equivalent based on the rating and duration of contracts as described in the notes to the financial statements and reflected in cash and cash equivalents on the statements of assets and liabilities and statements of cash flows. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. The Sponsor invests a portion of the cash held by the broker in short term Treasury Bills as collateral for open futures contracts. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. Brokerage Commissions Beginning on August 21, 2019, December 31, 2020 2021 2022 CORN Year Ending December 31, 2022 $ 217,050 Year Ending December 31, 2021 $ 141,674 Year Ending December 31, 2020 $ 149,619 Income Taxes For federal income tax purposes, the Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Fund is required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Fund recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the years ended December 31, 2022 2021 2020 2019 The Fund may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 The Fund receives or pays the proceeds from shares sold or redeemed within three As outlined in the most recent Form S- 1 no Allocation of Shareholder Income and Losses Profit or loss is allocated among the shareholders of the Fund in proportion to the number of shares each shareholder holds as of the close of each month. Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 52,555,915 $ 11,399,662 $ 27,496,317 Demand Deposit Savings Accounts 25,538,663 50,122,297 40,210,208 Commercial Paper 64,340,159 53,490,781 70,474,536 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 142,434,737 $ 115,012,740 $ 138,181,061 Payable for Purchases of Commercial Paper The amount recorded by the Fund for commercial paper transactions awaiting settlement, which represents the amount payable for contracts purchased but not Due from/to Broker The amount recorded by the Fund for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Calculation of Net Asset Value The Fund’s NAV is calculated by: · Taking the current market value of its total assets and · Subtracting any liabilities The administrator, Global Fund Services, calculates the NAV of the Fund once each trading day. It calculates the NAV as of the earlier of the close of the NYSE or 4:00 4:15 In determining the value of Corn Futures Contracts, the administrator uses the CBOT closing price. The administrator determines the value of all other Fund investments as of the earlier of the close of the NYSE or 4:00 may third not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Sponsor is responsible for investing the assets of the Fund in accordance with the objectives and policies of the Fund. In addition, the Sponsor arranges for one third not The Fund generally pays for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, or any other regulatory agency in connection with the offer and sale of subsequent Shares after its initial registration and all legal, accounting, printing and other expenses associated therewith. The Fund also pays its portion of the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Funds based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 827,230 $ 1,095,188 $ 1,089,985 Waived Related Party Transactions $ 149,721 $ 535,622 $ 493,231 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no CORN Year Ended December 31, 2022 $ 345,855 Year Ended December 31, 2021 $ 1,060,261 Year Ended December 31, 2020 $ 849,396 Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value - Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Fund uses various valuation approaches. In accordance with GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may 1 2 3 On December 31, 2022 2021 no 1 2 For the quarter ended June 30, 2021, Sep21 Dec21 2 1 September 30, 2021. For the quarter ended March 31, 2021, Jul21 Sep21 Dec21 2 Jul21 1 June 30, 2021, Sep21 Dec21 1 September 30, 2021. The Fund records its derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Expenses Expenses are recorded using the accrual method of accounting. Net Income (Loss) per Share Net income (loss) per Share is the difference between the NAV per unit at the beginning of each period and at the end of each period. The weighted average number of Shares outstanding was computed for purposes of disclosing net income (loss) per weighted average Share. The weighted average Shares are equal to the number of Shares outstanding at the end of the period, adjusted proportionately for Shares created or redeemed based on the amount of time the Shares were outstanding during such period. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: December 15, 2020. March 31, 2021; not The FASB issued 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements - Teucrium Corn Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 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. December 31, 2022 December 31, 2021 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 388,000,477 $ - $ - $ 388,000,477 Commodity and Cryptocurrency Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Soybean futures contracts 2,520,370 - - 2,520,370 Sugar futures contracts 911,329 - - 911,329 Wheat futures contracts 3,160,732 - - 3,160,732 Bitcoin futures contracts 29,152 - - 29,152 Total $ 396,207,858 $ - $ - $ 396,207,858 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Sugar futures contracts 85,128 - - 85,128 Wheat futures contracts 26,380,838 - - 26,380,838 Total $ 29,433,069 $ - $ - $ 29,433,069 December 31, 2021 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 152,949,199 $ - $ - $ 152,949,199 Commodity Futures Contracts Corn futures contracts 5,936,552 - - 5,936,552 Soybean futures contracts 2,684,851 - - 2,684,851 Sugar futures contracts 1,079,226 - - 1,079,226 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 166,364,500 $ - $ - $ 166,364,500 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Commodity Futures Contracts Sugar futures contracts $ 80,506 $ - $ - $ 80,506 Wheat futures contracts 654,969 - - 654,969 Total $ 735,475 $ - $ - $ 735,475 For the years ended December 31, 2022 2021 not 1 2 See the Fair Value - Definition and Hierarchy 4 |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 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. December 31, 2022 December 31, 2021 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 116,896,074 $ - $ - $ 116,896,074 Corn futures contracts 1,585,798 - - 1,585,798 Total $ 118,481,872 $ - $ - $ 118,481,872 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 December 31, 2021 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 64,890,443 $ - $ - $ 64,890,443 Corn futures contracts 5,936,552 - - 5,936,552 Total $ 70,826,995 $ - $ - $ 70,826,995 For the years ended December 31, 2022 2021 not See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Derivative Instrumen_2
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Corn Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 5 In the normal course of business, the Funds utilize derivative contracts in connection with its proprietary trading activities. Investments in derivative contracts are subject to additional risks that can result in a loss of all or part of an investment. The Funds’ derivative activities and exposure to derivative contracts are classified by the following primary underlying risks: interest rate, credit, commodity price, and equity price risks. In addition to its primary underlying risks, the Funds are also subject to additional counterparty risk due to inability of its counterparties to meet the terms of their contracts. For the years ended December 31, 2022 2021 Futures Contracts The Funds are subject to commodity and cryptocurrency price risk in the normal course of pursuing their investment objectives. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. The purchase and sale of futures contracts requires margin deposits with an FCM. Subsequent payments (variation margin) are made or received by each Fund each day, depending on the daily fluctuations in the value of the contract, and are recorded as unrealized gains or losses by each Fund. Futures contracts may The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other equity deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in FASB ASU No. 2011 11 210 2013 01 210 The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCMs, Marex and StoneX as of December 31, 2022 2021 not 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 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 2021 (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 Corn futures contracts $ 5,936,552 $ - $ 5,936,552 $ - $ - $ 5,936,552 Soybean futures contracts $ 2,684,851 $ - $ 2,684,851 $ - $ 675,169 $ 2,009,682 Sugar futures contracts $ 1,079,226 $ - $ 1,079,226 $ 80,506 $ - $ 998,720 Wheat futures contracts $ 3,714,672 $ - $ 3,714,672 $ 654,969 $ 213,708 $ 2,845,995 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2021 (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 $ 80,506 $ - $ 80,506 $ 80,506 $ - $ - Wheat futures contracts $ 654,969 $ - $ 654,969 $ 654,969 $ - $ - The following is a summary of realized and net change in unrealized gains (losses) of the derivative instruments utilized by the Trust: Year ended December 31, 2022 Realized Gain (Loss) on Commodity and Cryptocurrency Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity and Cryptocurrency Futures Contracts Commodity and Cryptocurrency Price Corn futures contracts $ 28,784,977 $ (7,317,857 ) Soybean futures contracts 10,362,032 (164,481 ) Sugar futures contracts (442,477 ) (172,519 ) Wheat futures contracts (81,457,408 ) (26,279,809 ) Bitcoin futures contracts (423,794 ) 29,152 Total commodity futures contracts $ (43,176,670 ) $ (33,905,514 ) Year ended December 31, 2021 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 65,827,118 $ (14,218,054 ) Soybean futures contracts 27,370,674 (12,439,375 ) Sugar futures contracts 6,223,228 (408,983 ) Wheat futures contracts 18,418,461 (2,678,459 ) Total commodity futures contracts $ 117,839,481 $ (29,744,871 ) Year ended December 31, 2020 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 5,882,216 $ 19,371,125 Soybean futures contracts 14,404,714 14,192,330 Sugar futures contracts (656,937 ) 1,060,274 Wheat futures contracts 5,461,905 669,686 Total commodity futures contracts $ 25,091,898 $ 35,293,415 Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $653.8 million in 2022 2021 2020 |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 5 In the normal course of business, the Fund utilizes derivative contracts in connection with its proprietary trading activities. Investments in derivative contracts are subject to additional risks that can result in a loss of all or part of an investment. The Fund’s derivative activities and exposure to derivative contracts are classified by the following primary underlying risks: interest rate, credit, commodity price, and equity price risks. In addition to its primary underlying risks, the Fund is also subject to additional counterparty risk due to inability of its counterparties to meet the terms of their contracts. For the years ended December 31, 2022 2021 Futures Contracts The Fund is subject to commodity price risk in the normal course of pursuing its investment objectives. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. The purchase and sale of futures contracts requires margin deposits with an FCM. Subsequent payments (variation margin) are made or received by the Fund each day, depending on the daily fluctuations in the value of the contract, and are recorded as unrealized gains or losses by the Fund. Futures contracts may The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other equity deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in FASB ASU No. 2011 11 210 2013 01 210 The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCMs, Marex and StoneX as of December 31, 2022 2021 not 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 Price Corn futures contracts $ 1,585,798 $ - $ 1,585,798 $ 1,585,798 $ - $ - 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 Price Corn futures contracts $ 2,967,103 $ - $ 2,967,103 $ 1,585,798 $ 1,381,305 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 2021 (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 Corn futures contracts $ 5,936,552 $ - $ 5,936,552 $ - $ - $ 5,936,552 The following is a summary of realized and net change in unrealized gains (losses) of the derivative instruments utilized by the Fund: Year ended December 31, 2022 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,784,977 $ (7,317,857 ) Year ended December 31, 2021 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 65,827,118 $ (14,218,054 ) Year ended December 31, 2020 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 5,882,216 $ 19,371,125 Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $212.2 million in 2022 2021 2020 |
Note 6 - Financial Highlights -
Note 6 - Financial Highlights - Teucrium Corn Fund | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Investment Company, Financial Highlights [Text Block] | Note 6 The following table presents per share performance data and other supplemental financial data for the years ended . This information has been derived from information presented in the financial statements and is presented with total expenses gross of expenses waived by the Sponsor and with total expenses net of expenses waived by the Sponsor, as appropriate. Year ended Year ended Year ended December 31, 2022 December 31, 2021 December 31, 2020 Per Share Operation Performance Net asset value at beginning of period $ 21.58 $ 15.54 $ 14.82 Income (loss) from investment operations: Investment income 0.43 0.03 0.08 Net realized and unrealized gain on commodity futures contracts 5.34 6.38 0.97 Total expenses, net (0.45 ) (0.37 ) (0.33 ) Net increase in net asset value 5.32 6.04 0.72 Net asset value at end of period $ 26.90 $ 21.58 $ 15.54 Total Return 24.64 % 38.88 % 4.83 % Ratios to Average Net Assets (Annualized) Total expenses 1.88 % 2.62 % 3.40 % Total expenses, net 1.72 % 1.91 % 2.50 % Net investment loss (0.10 )% (1.74 )% (1.86 )% The financial highlights per share data are calculated consistent with the methodology used to calculate asset-based fees and expenses. |
Note 7 - Organizational and Off
Note 7 - Organizational and Offering Costs - Teucrium Corn Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Organizational and Offering Costs [Text Block] | Note 6 Expenses incurred in organizing of the Trust and the initial offering of the shares, including applicable SEC registration fees, were borne directly by the Sponsor for the Funds and will be borne directly by the Sponsor for any series of the Trust which is not not |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Organizational and Offering Costs [Text Block] | Note 7 Expenses incurred in organizing of the Trust and the initial offering of the Shares of the Fund, including applicable SEC registration fees were borne directly by the Sponsor. The Fund is not |
Note 8 - Subsequent Events - Te
Note 8 - Subsequent Events - Teucrium Corn Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Management has evaluated the financial statements for the year-ended December 31, 2022 no CORN: Nothing to report. SOYB: The total net assets of the Fund decreased by $15,131,868, or 26%, for the period December 31, 2022 February 28, 2023. CANE: Nothing to report. WEAT: The total net assets of the Fund decreased by $46,724,300, or 20%, for the period December 31, 2022 February 28, 2023. TAGS: Nothing to report. DEFI: The total net assets of the Fund increased by $431,977, or 40%, for the period December 31, 2022 February 28, 2023. |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Management has evaluated the financial statements for the year-ended December 31, 2022 no Nothing to report. |
Schedule of Investments - Teu_2
Schedule of Investments - Teucrium Soybean Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Investment Holdings, Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS December 31, 2022 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 28,382,122 $ 28,382,122 6.10 % 28,382,122 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 160,258,295 160,258,295 34.44 160,258,295 Total money market funds $ 188,640,417 $ 188,640,417 40.54 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 1.07 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 14,877,488 14,968,886 3.22 15,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % 4,959,225 4,989,644 1.07 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 9,935,000 9,972,500 2.14 10,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 9,899,472 9,943,862 2.14 10,000,000 Crown Castle Inc. January 10, 2023 4.877 % 7,443,000 7,491,000 1.61 7,500,000 Crown Castle Inc. January 12, 2023 4.765 % 12,449,410 12,482,050 2.68 12,500,000 Entergy Corporation January 4, 2023 4.311 % 9,926,808 9,996,460 2.15 10,000,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 12,400,060 12,486,207 2.68 12,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 7,418,417 7,484,417 1.61 7,500,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 2.15 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 5,461,843 5,491,823 1.18 5,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 5,263,032 5,298,631 1.14 5,300,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 1.61 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 4,959,561 4,977,688 1.07 5,000,000 Humana Inc. January 9, 2023 4.670 % 7,448,250 7,492,333 1.61 7,500,000 Hyundai Capital America January 10, 2023 4.000 % 9,903,645 9,990,145 2.15 10,000,000 ITT Inc. January 19, 2023 4.475 % 4,965,088 4,988,975 1.07 5,000,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 1.07 5,000,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 1.07 5,000,000 Oracle Corporation January 17, 2023 4.361 % 9,931,919 9,980,889 2.14 10,000,000 V.F. Corporation January 17, 2023 4.364 % 4,959,390 4,990,444 1.07 5,000,000 V.F. Corporation February 2, 2023 4.669 % 6,456,811 6,473,422 1.39 6,500,000 VW Credit, Inc. January 19, 2023 4.434 % 7,448,106 7,483,613 1.61 7,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 4,970,188 4,971,512 1.07 5,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 4,959,098 4,961,736 1.07 5,000,000 Total Commercial Paper $ 198,351,250 $ 199,360,060 42.84 % Total Cash Equivalents $ 388,000,477 83.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 0.34 % $ 45,779,763 United States soybean futures contracts CBOT soybean futures MAR23 268 642,912 0.14 20,421,600 CBOT soybean futures MAY23 229 807,218 0.17 17,518,500 CBOT soybean futures NOV23 289 1,070,240 0.23 20,472,038 United States sugar futures contracts ICE sugar futures MAY23 401 356,963 0.08 8,407,526 ICE sugar futures JUL23 362 554,366 0.12 7,289,811 United States wheat futures contracts CBOT wheat futures JUL23 1,711 3,160,732 0.68 68,696,650 United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 24,979 0.01 496,050 CME Bitcoin futures FEB23 7 4,173 0.00 575,575 Total commodity and cryptocurrency futures contracts $ 8,207,381 1.77 % $ 189,657,513 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.16 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 0.48 53,440,625 United States sugar futures contracts ICE sugar futures MAR24 427 85,128 0.02 8,565,278 United States wheat futures contracts CBOT wheat futures MAY23 2,005 7,079,231 1.52 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 4.15 80,220,450 Total commodity and cryptocurrency futures contracts $ 29,433,069 6.33 % $ 275,693,541 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 9,885,980 2.12 % 367,555 Teucrium Soybean Fund 9,921,042 2.13 348,075 Teucrium Sugar Fund 9,745,653 2.09 1,024,284 Teucrium Wheat Fund 10,020,023 2.15 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 8.49 % *The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. The accompanying notes are an integral part of these financial statements. TEUCRIUM COMMODITY TRUST COMBINED SCHEDULE OF INVESTMENTS December 31, 2021 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 30,443,449 $ 30,443,449 11.52 % 30,443,449 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,525,384 2,525,384 0.96 2,525,384 Total money market funds $ 32,968,833 $ 32,968,833 12.48 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 9,996,324 $ 9,998,489 3.78 % 10,000,000 Albemarle Corporation January 11, 2022 0.200 % 4,998,834 4,999,722 1.89 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 0.95 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 7,497,300 7,499,867 2.84 7,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 4,998,710 4,999,646 1.89 5,000,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 4,998,000 4,999,889 1.89 5,000,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 9,995,111 9,998,333 3.78 10,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 4,998,800 4,999,956 1.89 5,000,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 9,996,061 9,999,444 3.78 10,000,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 4,997,876 4,999,268 1.89 5,000,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 4,997,328 4,997,918 1.89 5,000,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 1.89 5,000,000 Jabil Inc. January 20, 2022 0.250 % 2,499,219 2,499,670 0.95 2,500,000 Jabil Inc. February 8, 2022 0.300 % 7,496,063 7,497,625 2.84 7,500,000 Jabil Inc. February 25, 2022 0.310 % 4,996,900 4,997,632 1.89 5,000,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 1.89 5,000,000 Viatris Inc. February 11, 2022 0.300 % 4,996,625 4,998,292 1.89 5,000,000 Viatris Inc. March 1, 2022 0.310 % 4,996,986 4,997,460 1.89 5,000,000 Viatris Inc. January 21, 2022 0.200 % 4,998,584 4,999,444 1.89 5,000,000 WGL Holdings, Inc. January 12, 2022 0.220 % 4,998,686 4,999,664 1.89 5,000,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 1.89 5,000,000 Total Commercial Paper $ 119,951,019 $ 119,980,366 45.38 % Total Cash Equivalents $ 152,949,199 57.86 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 1.43 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.07 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 0.75 42,533,400 United States soybean futures contracts CBOT soybean futures MAR22 234 591,547 0.22 15,669,225 CBOT soybean futures MAY22 199 1,008,504 0.38 13,422,550 CBOT soybean futures NOV22 250 1,084,800 0.41 15,865,625 United States sugar futures contracts ICE sugar futures MAY22 381 225,299 0.09 7,936,992 ICE sugar futures MAR23 392 853,927 0.32 8,091,507 United States wheat futures contracts CBOT wheat futures MAY22 687 1,809,796 0.68 26,595,488 CBOT wheat futures DEC22 686 1,904,876 0.72 26,411,000 Total commodity futures contracts $ 13,415,301 5.07 % $ 234,855,437 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.03 % $ 6,817,541 United States wheat futures contracts CBOT wheat futures JUL22 593 654,969 0.25 22,667,425 Total commodity futures contracts $ 735,475 0.28 % $ 29,484,966 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,537,560 1.34 % 163,930 Teucrium Soybean Fund 3,538,006 1.34 155,374 Teucrium Sugar Fund 3,591,878 1.36 389,317 Teucrium Wheat Fund 3,510,575 1.33 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 5.37 % *The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. The accompanying notes are an integral part of these financial statements. |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Investment Holdings, Schedule of Investments [Text Block] | SCHEDULE OF INVESTMENTS December 31, 2022 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 10,287,270 $ 10,287,270 17.61 % 10,287,270 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 15,343,772 15,343,772 26.26 15,343,772 Total money market funds $ 25,631,042 $ 25,631,042 43.87 % Maturity Percentage of Date Yield Cost Fair Value Net Assets Principal Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % $ 4,959,225 $ 4,989,644 8.54 % 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 2,483,750 2,493,125 4.27 2,500,000 Crown Castle Inc. January 10, 2023 4.877 % 2,481,000 2,497,000 4.27 2,500,000 Crown Castle Inc. January 12, 2023 4.765 % 2,489,882 2,496,410 4.27 2,500,000 Entergy Corporation January 4, 2023 4.311 % 2,481,702 2,499,115 4.28 2,500,000 Humana Inc. January 9, 2023 4.670 % 2,482,750 2,497,444 4.27 2,500,000 V.F. Corporation January 17, 2023 4.364 % 2,479,695 2,495,222 4.27 2,500,000 V.F. Corporation February 2, 2023 4.669 % 2,483,389 2,489,778 4.26 2,500,000 VW Credit, Inc. January 19, 2023 4.434 % 2,482,702 2,494,538 4.27 2,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 2,485,094 2,485,756 4.25 2,500,000 Total Commercial Paper $ 27,309,189 $ 27,438,032 46.96 % Total Cash Equivalents $ 53,069,074 90.83 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States soybean futures contracts CBOT soybean futures MAR23 268 $ 642,912 1.10 % $ 20,421,600 CBOT soybean futures MAY23 229 807,218 1.38 17,518,500 CBOT soybean futures NOV23 289 1,070,240 1.82 20,472,038 Total commodity futures contracts $ 2,520,370 4.30 % $ 58,412,138 The accompanying notes are an integral part of these financial statements. TEUCRIUM SOYBEAN FUND SCHEDULE OF INVESTMENTS December 31, 2021 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 8,951,314 $ 8,951,314 19.91 % 8,951,314 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,511,180 2,511,180 5.58 2,511,180 Total money market funds $ 11,462,494 $ 11,462,494 25.49 % Maturity Percentage of Date Yield Cost Fair Value Net Assets Shares Commercial Paper Albemarle Corporation January 11, 2022 0.200 % $ 2,499,417 $ 2,499,861 5.56 % 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 2,499,000 2,499,956 5.56 2,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 2,499,355 2,499,823 5.56 2,500,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 3,998,044 3,999,333 8.89 4,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 2,499,400 2,499,978 5.56 2,500,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 2,498,938 2,499,634 5.56 2,500,000 Viatris Inc. February 11, 2022 0.300 % 2,498,312 2,499,146 5.55 2,500,000 Viatris Inc. January 21, 2022 0.200 % 2,499,292 2,499,722 5.56 2,500,000 Total Commercial Paper $ 21,491,758 $ 21,497,453 47.80 % Total Cash Equivalents $ 32,959,947 73.29 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States soybean futures contracts CBOT soybean futures MAR22 234 $ 591,547 1.32 % $ 15,669,225 CBOT soybean futures MAY22 199 1,008,504 2.24 13,422,550 CBOT soybean futures NOV22 250 1,084,800 2.41 15,865,625 Total commodity futures contracts $ 2,684,851 5.97 % $ 44,957,400 The accompanying notes are an integral part of these financial statements. |
Note 1 - Organization and Ope_3
Note 1 - Organization and Operation - Teucrium Soybean Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009, On June 7, 2010, 1 June 8, 2010, June 9, 2010. April 7, 2022. On June 13, 2011, 1 September 16, 2011, September 19, 2011, April 7, 2022. March 9, 2022. On February 10, 2012, 1 March 27, 2012, March 28, 2012. April 7, 2022. On September 14, 2022, 1 September 15, 2022, September 16, 2022. Teucrium Trading, LLC is the sponsor (“Sponsor”) of the Trust. The Sponsor is a member of the National Futures Association (the “NFA”) and became a commodity pool operator (“CPO”) registered with the Commodity Futures Trading Commission (the “CFTC”) effective November 10, 2009. September 8, 2017. The specific investment objective of each Fund and information regarding the organization and operation of each Fund are included in each Fund’s financial statements and accompanying notes, as well as in other sections of this Form 10 Subject to the terms of the Trust Agreement, Teucrium Trading, LLC in its capacity as the Sponsor (“Sponsor”) may no |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Soybean Fund (referred to herein as “SOYB” or the “Fund”) is a commodity pool that is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust formed on September 11, 2009. The investment objective of SOYB is to have the daily changes in the NAV of the Fund’s Shares reflect the daily changes in the soybean market for future delivery as measured by the Benchmark. The Benchmark is a weighted average of the closing settlement prices for three futures contracts for soybeans (“Soybean Futures Contracts”) that are traded on the Chicago Board of Trade (“CBOT”): SOYB Benchmark CBOT Soybeans Futures Contract Weighting Second to expire (excluding August & September) 35% Third to expire (excluding August & September) 30% Expiring in the November following the expiration of the third to expire contract 35% The Fund commenced investment operations on September 19, 2011 December 31. On June 13, 2011, 1 September 16, 2011, September 19, 2011, April 7, 2022. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor, may no |
Teucrium Sugar Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Teucrium Sugar Fund (referred to herein as “CANE” or the “Fund”) is a commodity pool that is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust formed on September 11, 2009. The investment objective of CANE is to have the daily changes in the NAV of the Fund’s Shares reflect the daily changes in the sugar market for future delivery as measured by the Benchmark. The Benchmark is a weighted average of the closing settlement prices for three futures contracts for No. 11 CANE Benchmark ICE Sugar Futures Contract Weighting Second to expire 35% Third to expire 30% Expiring in the March following the expiration of the third to expire contract 35% The Fund commenced investment operations on September 19, 2011 December 31. On June 13, 2011, 1 September 16, 2011, September 19, 2011, April 7, 2022. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor, may no |
Note 2 - Principal Contracts _3
Note 2 - Principal Contracts and Agreements - Teucrium Soybean Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 The Sponsor employs U.S. Bank N.A. as the Custodian for the Funds. The principal business address for U.S. Bank N.A is 1555 302, 53212. 615 53202. For custody services, the Funds will pay to U.S. Bank N.A. 0.0075% of average gross assets up to $1 $1 first $500 $500 $2 $3 The Sponsor employs Foreside Fund Services, LLC (“Foreside” or the “Distributor”) as the Distributor for the Funds. The Distribution Services Agreement among the Distributor and the Sponsor calls for the Distributor to work with the Custodian in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising materials. The Distributor and the Sponsor have also entered into a Securities Activities and Service Agreement (the “SASA”) under which certain employees and officers of the Sponsor are licensed as registered representatives or registered principals of the Distributor, under Financial Industry Regulatory Authority (“FINRA”) rules. For its services as the Distributor, Foreside receives a fee of 0.01% of the Fund’s average daily net assets and an aggregate annual fee of $100,000 for all Teucrium Funds, along with certain expense reimbursements. For its services under the SASA, Foreside receives a fee of $5,000 per registered representative and $1,000 per registered location. These services are recorded in distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below. Pursuant to a Consulting Services Agreement, Foreside Consulting Services, LLC, performs certain consulting support services for the Trust’s Sponsor. Additionally, Foreside Distributors, LLC performs certain distribution consulting services pursuant to a Distribution Consulting Agreement with the Trust’s Sponsor. Marex Capital Markets, Inc. (“Marex”), StoneX Financial Inc. (“StoneX”) and Phillip Capital Inc. (“Phillip Capital”) serve as the Funds’ clearing brokers to execute and clear futures contracts and provide other brokerage-related services. Marex, StoneX and Phillip Capital are each registered as futures commission merchants (“FCM”) with the U.S. CFTC and are members of the NFA. The clearing brokers are registered as broker-dealers with the SEC and are each a member of FINRA. Marex, StoneX and Phillip Capital are each clearing members of ICE Futures U.S., Inc., Chicago Board of Trade, Chicago Mercantile Exchange, New York Mercantile Exchange, and all other major United States commodity exchanges. For Corn, Soybean, Sugar and Wheat Futures Contracts, Marex is paid $11.00 per round turn. StoneX is paid $2.50 per round turn exclusive of pass-through fees for the exchange and the NFA. Additionally, if the monthly commissions paid by each Fund does not Brokerage Commissions The sole Trustee of the Trust is Wilmington Trust Company, a Delaware banking corporation. The Trustee will accept service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act. For its services, the Trustee receives an annual fee of $3,300 from the Trust. These services are recorded in business permits and licenses fees on the combined statements of operations. A summary of these expenses is included below. The Sponsor employs Thales Capital Partners LLC (“Thales”) for distribution and solicitation-related services. Thales is registered as a Broker-Dealer with the SEC and a member of Financial Industry Regulatory Authority (FINRA) and SIPC. Thales receives a quarterly fee of $18,750 or 0.10% of new assets raised in referred accounts for distribution and solicitation-related services. This fee based on new assets raised is determined by an agreed upon level of assets at the time of signing the contract. These services are recorded in distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below: Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 410,660 $ 363,000 $ 369,293 Amount of Custody Services Waived $ 42,625 $ 120,850 $ 71,342 Amount Recognized for Distribution Services $ 200,313 $ 186,531 $ 180,024 Amount of Distribution Services Waived $ 48,593 $ 94,724 $ 68,140 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 550 $ 991 $ 2,215 Amount Recognized for Thales $ 278,958 $ 297,222 $ 116,901 Amount of Thales Waived $ 106,944 $ 153,198 $ 57,988 |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 The Sponsor employs U.S. Bank N.A. as the Custodian for the Funds. The principal business address for U.S. Bank N.A is 1555 302, 53212. 615 53202. For custody services, the Funds will pay to U.S. Bank N.A. 0.0075% of average gross assets up to $1 $1 first $500 $500 $2 $3 The Sponsor employs Foreside Fund Services, LLC (“Foreside” or the “Distributor”) as the Distributor for the Funds. The Distribution Services Agreement among the Distributor and the Sponsor calls for the Distributor to work with the Custodian in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising materials. The Distributor and the Sponsor have also entered into a Securities Activities and Service Agreement (the “SASA”) under which certain employees and officers of the Sponsor are licensed as registered representatives or registered principals of the Distributor, under Financial Industry Regulatory Authority (“FINRA”) rules. For its services as the Distributor, Foreside receives a fee of 0.01% of the Fund’s average daily net assets and an aggregate annual fee of $100,000 for all Teucrium Funds, along with certain expense reimbursements. For its services under the SASA, Foreside receives a fee of $5,000 per registered representative and $1,000 per registered location. These services are recorded in distribution and marketing fees on the statements of operations. A summary of these expenses is included below. Pursuant to a Consulting Services Agreement, Foreside Consulting Services, LLC, performs certain consulting support services for the Trust’s Sponsor. Additionally, Foreside Distributors, LLC performs certain distribution consulting services pursuant to a Distribution Consulting Agreement with the Trust’s Sponsor. Marex Capital Markets, Inc. (“Marex”) and StoneX Financial Inc. (“StoneX”) serve as the Funds’ clearing brokers to execute and provide other brokerage-related services. Marex and StoneX are each registered as futures commission merchants (“FCM”) with the U.S. CFTC and are members of the NFA. The clearing brokers are registered as broker-dealers with the SEC and are each a member of FINRA. Marex and StoneX are each clearing members of ICE Futures U.S., Inc., Chicago Board of Trade, Chicago Mercantile Exchange, New York Mercantile Exchange, and all other major United States commodity exchanges. For Corn, Soybean, Sugar, and Wheat Futures Contracts Marex is paid $11.00 per round turn. StoneX is paid $2.50 per round turn exclusive of pass-through fees for the exchange and the NFA. Additionally, if the monthly commissions paid by each Fund does not The sole Trustee of the Trust is Wilmington Trust Company, a Delaware banking corporation. The Trustee will accept service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act. For its services, the Trustee receives an annual fee of $3,300 from the Trust. These services are recorded in business permits and licenses fees on the statements of operations. A summary of these expenses is included below. The Sponsor employs Thales Capital Partners LLC (“Thales”) for distribution and solicitation-related services. Thales is registered as a Broker-Dealer with the SEC and a member of FINRA and the Securities Investor Protection Corporation (“SIPC”). Thales receives a quarterly fee of the higher of $18,750 or 0.10% of new assets raised in referred accounts for distribution and solicitation-related services. This fee based on new assets raised is determined by an agreed upon level of assets at the time of signing the contract. These services are recorded in distribution and marketing fees on the statements of operations. A summary of these expenses is included below: Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 37,114 $ 91,007 $ 86,875 Amount of Custody Services Waived $ 4,000 $ 30,326 $ 667 Amount Recognized for Distribution Services $ 19,183 $ 46,195 $ 43,517 Amount of Distribution Services Waived $ 3,962 $ 24,812 $ 23,156 Amount Recognized for Wilmington Trust $ 550 $ 631 $ 1,073 Amount of Wilmington Trust Waived $ - $ 631 $ - Amount Recognized for Thales $ 27,880 $ 78,988 $ 28,871 Amount of Thales Waived $ - $ 31,340 $ 21,770 |
Note 3 - Summary of Significa_3
Note 3 - Summary of Significant Accounting Policies - Teucrium Soybean Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared on a combined basis in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification and include the accounts of the Trust, CORN, CANE, SOYB, WEAT, TAGS and DEFI. Refer to the accompanying separate financial statements for each Fund for more detailed information. For the periods represented by the financial statements herein the operations of the Trust contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI except for eliminations for TAGS as explained below for the months during which each Fund was in operation. Given the investment objective of TAGS as described in Note 1 Revenue Recognition Commodity and Cryptocurrency futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. The Funds seek to earn interest on their assets denominated in U.S. dollars on deposit with the Futures Commission Merchant. In addition, the Funds seek to earn interest on funds held at the custodian and at other financial institutions at prevailing market rates for such investments. The Sponsor may The Sponsor may Brokerage Commissions Beginning on August 21, 2019, December 31, 2022 2021 2020 CORN SOYB CANE WEAT TAGS DEFI TRUST Year Ending December 31, 2022 $ 217,050 $ 27,011 $ 33,469 $ 387,999 $ - $ 2,217 $ 667,746 Year Ending December 31, 2021 $ 141,674 $ 29,889 $ 21,123 $ 47,448 $ - $ - $ 240,134 Year Ending December 31, 2020 $ 149,619 $ 35,880 $ 14,681 $ 40,741 $ 1 $ - $ 240,922 Income Taxes The Trust is organized and will be operated as a Delaware statutory trust. For federal income tax purposes, each Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Funds are required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Funds recognize interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized for the years ending December 31, 2022 2021 2020 2019 The Funds may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 Each Fund receives or pays the proceeds from shares sold or redeemed within three There are a minimum number of baskets and associated shares specified for each Fund in the Fund’s respective prospectus, as amended from time to time. Once the minimum number of baskets is reached, there can be no CORN: 50,000 shares representing 2 baskets SOYB: 50,000 shares representing 2 baskets CANE: 50,000 shares representing 2 baskets WEAT: 50,000 shares representing 2 baskets TAGS: 50,000 shares representing 4 baskets DEFI: 50,000 shares representing 5 baskets Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 188,640,417 $ 32,968,833 $ 61,121,678 Demand Deposit Savings Accounts 46,061,819 99,262,744 95,809,411 Commercial Paper 199,360,060 119,980,366 152,447,206 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 434,062,296 $ 252,211,943 $ 309,378,295 Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement, which represents the amount payable for contracts purchased but not Due from/to Broker The amount recorded by the Trust for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one Payable/Receivable for Securities Purchased/Sold Due from/to broker for investments in securities are securities transactions pending settlement. The Trust and the Funds are subject to credit risk to the extent any broker with whom it conducts business is unable to fulfill contractual obligations on its behalf. The management of the Trust and the Funds monitors the financial condition of such brokers and does not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Fund’s sponsor, Teucrium Trading, LLC (the “Sponsor”), is responsible for investing the assets of the Funds in accordance with the objectives and policies of each Fund. In addition, the Sponsor arranges for one third not no .94% The Agricultural Funds generally pay for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, or any other regulatory agency in connection with the offer and sale of subsequent Shares, after its initial registration, and all legal, accounting, printing and other expenses associated therewith. The Funds also pay the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 2,721,842 $ 2,321,539 $ 2,279,672 Waived Related Party Transactions $ 518,599 $ 1,052,715 $ 775,432 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated, and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value - Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Trust uses various valuation approaches. In accordance with U.S. GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Trust. Unobservable inputs reflect the Trust’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may not 1 2 3 On December 31, 2022 2021 no 1 2 For the quarter ended June 30, 2021, Sep21 Dec21 2 1 September 30, 2021. For the quarter ended March 31, 2021, Jul21 Sep21 Dec21 Jul21 Nov21 2 1 June 30, 2021, Sep21 Dec21 2 For the quarter ending June 30, 2020, DEC21 not, 2 DEC21 June 30, 2020. 1 September 30, 2020. The Funds and the Trust record their derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Investments in the securities of the Underlying Funds are freely traded and listed on the NYSE Arca. These investments are valued at the NAV of the Underlying Fund as of the valuation date as calculated by the administrator based on the exchange-quoted prices of the commodity futures contracts held by the Underlying Fund. Expenses Expenses are recorded using the accrual method of accounting. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: March 31, 2021; not The FASB issued ASU 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification. Revenue Recognition Commodity futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. Interest on cash equivalents with financial institutions are recognized on the accrual basis. The Fund seeks to earn interest on funds held at the custodian and other financial institutions at prevailing market rates for such investments. The Sponsor invests a portion of cash in commercial paper, which is deemed a cash equivalent based on the rating and duration of contracts as described in the notes to the financial statements and reflected in cash and cash equivalents on the statements of assets and liabilities and on the statements of cash flows. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. The Sponsor invests a portion of the cash held by the broker in short term Treasury Bills as collateral for open futures contracts. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. Brokerage Commissions Beginning on August 21, 2019, December 31, 2020 2021 2022 SOYB Year Ending December 31, 2022 $ 27,011 Year Ending December 31, 2021 $ 29,889 Year Ending December 31, 2020 $ 35,880 Income Taxes For federal income tax purposes, the Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Fund is required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Fund recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the years ended December 31, 2022 2021 2020 2019 The Fund may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 The Fund receives or pays the proceeds from shares sold or redeemed within three As outlined in the most recent Form S- 1 no Allocation of Shareholder Income and Losses Profit or loss is allocated among the shareholders of the Fund in proportion to the number of shares each shareholder holds as of the close of each month. Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 25,631,042 $ 11,462,494 $ 13,242,009 Demand Deposit Savings Accounts 5,143,495 10,059,937 32,671,497 Commercial Paper 27,438,032 21,497,453 44,484,885 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 58,212,569 $ 43,019,884 $ 90,398,391 Payable for Purchases of Commercial Paper The amount recorded by the Fund for commercial paper transactions awaiting settlement, which represents the amount payable for contracts purchased but not Due from/to Broker The amount recorded by the Fund for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Calculation of Net Asset Value The Fund’s NAV is calculated by: · Taking the current market value of its total assets and · Subtracting any liabilities The administrator, Global Fund Services, calculates the NAV of the Fund once each trading day. It calculates the NAV as of the earlier of the close of the NYSE or 4:00 4:15 In determining the value of Soybean Futures Contracts, the administrator uses the CBOT closing price. The administrator determines the value of all other Fund investments as of the earlier of the close of the NYSE or 4:00 may third not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Sponsor is responsible for investing the assets of the Fund in accordance with the objectives and policies of the Fund. In addition, the Sponsor arranges for one third not The Fund generally pays for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, or any other regulatory agency in connection with the offer and sale of subsequent Shares after its initial registration and all legal, accounting, printing and other expenses associated therewith. The Fund also pays its portion of the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Funds based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 261,124 $ 571,585 $ 547,998 Waived Related Party Transactions $ 32,056 $ 288,098 $ 194,347 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no SOYB Year Ended December 31, 2022 $ 89,562 Year Ended December 31, 2021 $ 576,014 Year Ended December 31, 2020 $ 399,518 Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value - Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Fund uses various valuation approaches. In accordance with U.S. GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may 1 2 3 On December 31, 2022 2021 no 1 2 For the quarter ended March 31, 2021, Jul21 Nov21 2 1 June 30, 2021. The Fund records its derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Expenses Expenses are recorded using the accrual method of accounting. Net Income (Loss) per Share Net income (loss) per Share is the difference between the NAV per unit at the beginning of each period and at the end of each period. The weighted average number of Shares outstanding was computed for purposes of disclosing net income (loss) per weighted average Share. The weighted average Shares are equal to the number of Shares outstanding at the end of the period, adjusted proportionately for Shares created or redeemed based on the amount of time the Shares were outstanding during such period. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: December 15, 2020. March 31, 2021; not The FASB issued 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements - Teucrium Soybean Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 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. December 31, 2022 December 31, 2021 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 388,000,477 $ - $ - $ 388,000,477 Commodity and Cryptocurrency Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Soybean futures contracts 2,520,370 - - 2,520,370 Sugar futures contracts 911,329 - - 911,329 Wheat futures contracts 3,160,732 - - 3,160,732 Bitcoin futures contracts 29,152 - - 29,152 Total $ 396,207,858 $ - $ - $ 396,207,858 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Sugar futures contracts 85,128 - - 85,128 Wheat futures contracts 26,380,838 - - 26,380,838 Total $ 29,433,069 $ - $ - $ 29,433,069 December 31, 2021 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 152,949,199 $ - $ - $ 152,949,199 Commodity Futures Contracts Corn futures contracts 5,936,552 - - 5,936,552 Soybean futures contracts 2,684,851 - - 2,684,851 Sugar futures contracts 1,079,226 - - 1,079,226 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 166,364,500 $ - $ - $ 166,364,500 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Commodity Futures Contracts Sugar futures contracts $ 80,506 $ - $ - $ 80,506 Wheat futures contracts 654,969 - - 654,969 Total $ 735,475 $ - $ - $ 735,475 For the years ended December 31, 2022 2021 not 1 2 See the Fair Value - Definition and Hierarchy 4 |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 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. December 31, 2022 December 31, 2021 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 53,069,074 $ - $ - $ 53,069,074 Soybean futures contracts 2,520,370 - - 2,520,370 Total $ 55,589,444 $ - $ - $ 55,589,444 December 31, 2021 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 32,959,947 $ - $ - $ 32,959,947 Soybean futures contracts 2,684,851 - - 2,684,851 Total $ 35,644,798 $ - $ - $ 35,644,798 For the years ended December 31, 2022 2021 not See the Fair Value Definition and Hierarchy 3 |
Note 5 - Derivative Instrumen_3
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Soybean Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 5 In the normal course of business, the Funds utilize derivative contracts in connection with its proprietary trading activities. Investments in derivative contracts are subject to additional risks that can result in a loss of all or part of an investment. The Funds’ derivative activities and exposure to derivative contracts are classified by the following primary underlying risks: interest rate, credit, commodity price, and equity price risks. In addition to its primary underlying risks, the Funds are also subject to additional counterparty risk due to inability of its counterparties to meet the terms of their contracts. For the years ended December 31, 2022 2021 Futures Contracts The Funds are subject to commodity and cryptocurrency price risk in the normal course of pursuing their investment objectives. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. The purchase and sale of futures contracts requires margin deposits with an FCM. Subsequent payments (variation margin) are made or received by each Fund each day, depending on the daily fluctuations in the value of the contract, and are recorded as unrealized gains or losses by each Fund. Futures contracts may The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other equity deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in FASB ASU No. 2011 11 210 2013 01 210 The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCMs, Marex and StoneX as of December 31, 2022 2021 not 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 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 2021 (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 Corn futures contracts $ 5,936,552 $ - $ 5,936,552 $ - $ - $ 5,936,552 Soybean futures contracts $ 2,684,851 $ - $ 2,684,851 $ - $ 675,169 $ 2,009,682 Sugar futures contracts $ 1,079,226 $ - $ 1,079,226 $ 80,506 $ - $ 998,720 Wheat futures contracts $ 3,714,672 $ - $ 3,714,672 $ 654,969 $ 213,708 $ 2,845,995 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2021 (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 $ 80,506 $ - $ 80,506 $ 80,506 $ - $ - Wheat futures contracts $ 654,969 $ - $ 654,969 $ 654,969 $ - $ - The following is a summary of realized and net change in unrealized gains (losses) of the derivative instruments utilized by the Trust: Year ended December 31, 2022 Realized Gain (Loss) on Commodity and Cryptocurrency Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity and Cryptocurrency Futures Contracts Commodity and Cryptocurrency Price Corn futures contracts $ 28,784,977 $ (7,317,857 ) Soybean futures contracts 10,362,032 (164,481 ) Sugar futures contracts (442,477 ) (172,519 ) Wheat futures contracts (81,457,408 ) (26,279,809 ) Bitcoin futures contracts (423,794 ) 29,152 Total commodity futures contracts $ (43,176,670 ) $ (33,905,514 ) Year ended December 31, 2021 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 65,827,118 $ (14,218,054 ) Soybean futures contracts 27,370,674 (12,439,375 ) Sugar futures contracts 6,223,228 (408,983 ) Wheat futures contracts 18,418,461 (2,678,459 ) Total commodity futures contracts $ 117,839,481 $ (29,744,871 ) Year ended December 31, 2020 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 5,882,216 $ 19,371,125 Soybean futures contracts 14,404,714 14,192,330 Sugar futures contracts (656,937 ) 1,060,274 Wheat futures contracts 5,461,905 669,686 Total commodity futures contracts $ 25,091,898 $ 35,293,415 Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $653.8 million in 2022 2021 2020 |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 5 In the normal course of business, the Fund utilizes derivative contracts in connection with its proprietary trading activities. Investments in derivative contracts are subject to additional risks that can result in a loss of all or part of an investment. The Fund’s derivative activities and exposure to derivative contracts are classified by the following primary underlying risks: interest rate, credit, commodity price, and equity price risks. In addition to its primary underlying risks, the Fund is also subject to additional counterparty risk due to inability of its counterparties to meet the terms of their contracts. For the years ended December 31, 2022 2021 Futures Contracts The Fund is subject to commodity price risk in the normal course of pursuing its investment objectives. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. The purchase and sale of futures contracts requires margin deposits with an FCM. Subsequent payments (variation margin) are made or received by the Fund each day, depending on the daily fluctuations in the value of the contract, and are recorded as unrealized gains or losses by the Fund. Futures contracts may The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other equity deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in FASB ASU No. 2011 11 210 2013 01 210 The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCMs, Marex and StoneX as of December 31, 2022 2021 not 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 Price Soybean futures contracts $ 2,520,370 $ - $ 2,520,370 $ - $ - $ 2,520,370 Offsetting of Financial Assets and Derivative Assets as of December 31, 2021 (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 Soybean futures contracts $ 2,684,851 $ - $ 2,684,851 $ - $ 675,169 $ 2,009,682 The following is a summary of realized and net change in unrealized gains (losses) of the derivative instruments utilized by the Fund: Year ended December 31, 2022 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 10,362,032 $ (164,481 ) Year ended December 31, 2021 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 27,370,674 $ (12,439,375 ) Year ended December 31, 2020 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 14,404,714 $ 14,192,330 Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $67.3 million in 2022 2021 2020 |
Note 6 - Financial Highlights_2
Note 6 - Financial Highlights - Teucrium Soybean Fund | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Investment Company, Financial Highlights [Text Block] | Note 6 The following table presents per share performance data and other supplemental financial data for the years ended December 31, 2022, 2021 2020 Year ended Year ended Year ended December 31, 2022 December 31, 2021 December 31, 2020 Per Share Operation Performance Net asset value at beginning of period $ 22.77 $ 19.49 $ 15.85 Income (loss) from investment operations: Investment income 0.45 0.04 0.07 Net realized and unrealized gain on commodity futures contracts 5.76 3.67 3.94 Total expenses, net (0.48 ) (0.43 ) (0.37 ) Net increase in net asset value 5.73 3.28 3.64 Net asset value at end of period $ 28.50 $ 22.77 $ 19.49 Total Return 25.17 % 16.82 % 22.98 % Ratios to Average Net Assets (Annualized) Total expenses 1.92 % 2.76 % 3.03 % Total expenses, net 1.78 % 1.96 % 2.34 % Net investment loss (0.10 )% (1.79 )% (1.89 )% The financial highlights per share data are calculated consistent with the methodology used to calculate asset-based fees and expenses. |
Note 7 - Organizational and O_2
Note 7 - Organizational and Offering Costs - Teucrium Soybean Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Organizational and Offering Costs [Text Block] | Note 6 Expenses incurred in organizing of the Trust and the initial offering of the shares, including applicable SEC registration fees, were borne directly by the Sponsor for the Funds and will be borne directly by the Sponsor for any series of the Trust which is not not |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Organizational and Offering Costs [Text Block] | Note 7 Expenses incurred in organizing of the Trust and the initial offering of the Shares of the Fund, including applicable SEC registration fees were borne directly by the Sponsor. The Fund is not |
Note 8 - Subsequent Events - _2
Note 8 - Subsequent Events - Teucrium Soybean Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Management has evaluated the financial statements for the year-ended December 31, 2022 no CORN: Nothing to report. SOYB: The total net assets of the Fund decreased by $15,131,868, or 26%, for the period December 31, 2022 February 28, 2023. CANE: Nothing to report. WEAT: The total net assets of the Fund decreased by $46,724,300, or 20%, for the period December 31, 2022 February 28, 2023. TAGS: Nothing to report. DEFI: The total net assets of the Fund increased by $431,977, or 40%, for the period December 31, 2022 February 28, 2023. |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Management has evaluated the financial statements for the year-ended December 31, 2022 no The total net assets of the Fund decreased by $15,131,868, or 26%, for the period December 31, 2022 February 28, 2023. |
Schedule of Investments - Teu_3
Schedule of Investments - Teucrium Sugar Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Investment Holdings, Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS December 31, 2022 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 28,382,122 $ 28,382,122 6.10 % 28,382,122 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 160,258,295 160,258,295 34.44 160,258,295 Total money market funds $ 188,640,417 $ 188,640,417 40.54 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 1.07 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 14,877,488 14,968,886 3.22 15,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % 4,959,225 4,989,644 1.07 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 9,935,000 9,972,500 2.14 10,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 9,899,472 9,943,862 2.14 10,000,000 Crown Castle Inc. January 10, 2023 4.877 % 7,443,000 7,491,000 1.61 7,500,000 Crown Castle Inc. January 12, 2023 4.765 % 12,449,410 12,482,050 2.68 12,500,000 Entergy Corporation January 4, 2023 4.311 % 9,926,808 9,996,460 2.15 10,000,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 12,400,060 12,486,207 2.68 12,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 7,418,417 7,484,417 1.61 7,500,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 2.15 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 5,461,843 5,491,823 1.18 5,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 5,263,032 5,298,631 1.14 5,300,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 1.61 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 4,959,561 4,977,688 1.07 5,000,000 Humana Inc. January 9, 2023 4.670 % 7,448,250 7,492,333 1.61 7,500,000 Hyundai Capital America January 10, 2023 4.000 % 9,903,645 9,990,145 2.15 10,000,000 ITT Inc. January 19, 2023 4.475 % 4,965,088 4,988,975 1.07 5,000,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 1.07 5,000,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 1.07 5,000,000 Oracle Corporation January 17, 2023 4.361 % 9,931,919 9,980,889 2.14 10,000,000 V.F. Corporation January 17, 2023 4.364 % 4,959,390 4,990,444 1.07 5,000,000 V.F. Corporation February 2, 2023 4.669 % 6,456,811 6,473,422 1.39 6,500,000 VW Credit, Inc. January 19, 2023 4.434 % 7,448,106 7,483,613 1.61 7,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 4,970,188 4,971,512 1.07 5,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 4,959,098 4,961,736 1.07 5,000,000 Total Commercial Paper $ 198,351,250 $ 199,360,060 42.84 % Total Cash Equivalents $ 388,000,477 83.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 0.34 % $ 45,779,763 United States soybean futures contracts CBOT soybean futures MAR23 268 642,912 0.14 20,421,600 CBOT soybean futures MAY23 229 807,218 0.17 17,518,500 CBOT soybean futures NOV23 289 1,070,240 0.23 20,472,038 United States sugar futures contracts ICE sugar futures MAY23 401 356,963 0.08 8,407,526 ICE sugar futures JUL23 362 554,366 0.12 7,289,811 United States wheat futures contracts CBOT wheat futures JUL23 1,711 3,160,732 0.68 68,696,650 United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 24,979 0.01 496,050 CME Bitcoin futures FEB23 7 4,173 0.00 575,575 Total commodity and cryptocurrency futures contracts $ 8,207,381 1.77 % $ 189,657,513 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.16 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 0.48 53,440,625 United States sugar futures contracts ICE sugar futures MAR24 427 85,128 0.02 8,565,278 United States wheat futures contracts CBOT wheat futures MAY23 2,005 7,079,231 1.52 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 4.15 80,220,450 Total commodity and cryptocurrency futures contracts $ 29,433,069 6.33 % $ 275,693,541 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 9,885,980 2.12 % 367,555 Teucrium Soybean Fund 9,921,042 2.13 348,075 Teucrium Sugar Fund 9,745,653 2.09 1,024,284 Teucrium Wheat Fund 10,020,023 2.15 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 8.49 % *The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. The accompanying notes are an integral part of these financial statements. TEUCRIUM COMMODITY TRUST COMBINED SCHEDULE OF INVESTMENTS December 31, 2021 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 30,443,449 $ 30,443,449 11.52 % 30,443,449 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,525,384 2,525,384 0.96 2,525,384 Total money market funds $ 32,968,833 $ 32,968,833 12.48 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 9,996,324 $ 9,998,489 3.78 % 10,000,000 Albemarle Corporation January 11, 2022 0.200 % 4,998,834 4,999,722 1.89 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 0.95 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 7,497,300 7,499,867 2.84 7,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 4,998,710 4,999,646 1.89 5,000,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 4,998,000 4,999,889 1.89 5,000,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 9,995,111 9,998,333 3.78 10,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 4,998,800 4,999,956 1.89 5,000,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 9,996,061 9,999,444 3.78 10,000,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 4,997,876 4,999,268 1.89 5,000,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 4,997,328 4,997,918 1.89 5,000,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 1.89 5,000,000 Jabil Inc. January 20, 2022 0.250 % 2,499,219 2,499,670 0.95 2,500,000 Jabil Inc. February 8, 2022 0.300 % 7,496,063 7,497,625 2.84 7,500,000 Jabil Inc. February 25, 2022 0.310 % 4,996,900 4,997,632 1.89 5,000,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 1.89 5,000,000 Viatris Inc. February 11, 2022 0.300 % 4,996,625 4,998,292 1.89 5,000,000 Viatris Inc. March 1, 2022 0.310 % 4,996,986 4,997,460 1.89 5,000,000 Viatris Inc. January 21, 2022 0.200 % 4,998,584 4,999,444 1.89 5,000,000 WGL Holdings, Inc. January 12, 2022 0.220 % 4,998,686 4,999,664 1.89 5,000,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 1.89 5,000,000 Total Commercial Paper $ 119,951,019 $ 119,980,366 45.38 % Total Cash Equivalents $ 152,949,199 57.86 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 1.43 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.07 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 0.75 42,533,400 United States soybean futures contracts CBOT soybean futures MAR22 234 591,547 0.22 15,669,225 CBOT soybean futures MAY22 199 1,008,504 0.38 13,422,550 CBOT soybean futures NOV22 250 1,084,800 0.41 15,865,625 United States sugar futures contracts ICE sugar futures MAY22 381 225,299 0.09 7,936,992 ICE sugar futures MAR23 392 853,927 0.32 8,091,507 United States wheat futures contracts CBOT wheat futures MAY22 687 1,809,796 0.68 26,595,488 CBOT wheat futures DEC22 686 1,904,876 0.72 26,411,000 Total commodity futures contracts $ 13,415,301 5.07 % $ 234,855,437 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.03 % $ 6,817,541 United States wheat futures contracts CBOT wheat futures JUL22 593 654,969 0.25 22,667,425 Total commodity futures contracts $ 735,475 0.28 % $ 29,484,966 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,537,560 1.34 % 163,930 Teucrium Soybean Fund 3,538,006 1.34 155,374 Teucrium Sugar Fund 3,591,878 1.36 389,317 Teucrium Wheat Fund 3,510,575 1.33 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 5.37 % *The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. The accompanying notes are an integral part of these financial statements. |
Teucrium Sugar Fund [Member] | |
Notes to Financial Statements | |
Investment Holdings, Schedule of Investments [Text Block] | SCHEDULE OF INVESTMENTS December 31, 2022 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 5,634,177 $ 5,634,177 23.22 % 5,634,177 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 4,286,322 4,286,322 17.67 4,286,322 Total Money Market Funds $ 9,920,499 $ 9,920,499 40.89 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Entergy Corporation January 4, 2023 4.311 % $ 2,481,702 $ 2,499,115 10.30 % 2,500,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 2,475,149 2,497,369 10.29 2,500,000 Glencore Funding LLC January 13, 2023 4.526 % 2,482,656 2,496,283 10.29 2,500,000 VW Credit, Inc. January 19, 2023 4.434 % 2,482,702 2,494,537 10.28 2,500,000 Total Commercial Paper $ 9,922,209 $ 9,987,304 41.16 % Total Cash Equivalents $ 19,907,803 82.05 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures MAY23 401 $ 356,963 1.47 % $ 8,407,526 ICE sugar futures JUL23 362 554,366 2.29 7,289,811 Total commodity futures contracts $ 911,329 3.76 % $ 15,697,337 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures MAR24 427 $ 85,128 0.35 % $ 8,565,278 The accompanying notes are an integral part of these financial statements. TEUCRIUM SUGAR FUND SCHEDULE OF INVESTMENTS December 31, 2021 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 4,808,415 $ 4,808,415 21.06 % 4,808,415 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 8,468 8,468 0.04 8,468 Total Money Market Funds $ 4,816,883 $ 4,816,883 21.10 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Jabil Inc. January 20, 2022 0.250 % $ 2,499,219 $ 2,499,670 10.95 2,500,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 21.89 5,000,000 Total Commercial Paper $ 7,497,919 $ 7,499,540 32.84 % Total Cash Equivalents $ 12,316,423 53.94 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures MAY22 381 $ 225,299 0.99 % $ 7,936,992 ICE sugar futures MAR23 392 853,927 3.74 8,091,507 Total commodity futures contracts $ 1,079,226 4.73 % $ 16,028,499 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.35 % $ 6,817,541 The accompanying notes are an integral part of these financial statements. |
Note 1 - Organization and Ope_4
Note 1 - Organization and Operation - Teucrium Sugar Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009, On June 7, 2010, 1 June 8, 2010, June 9, 2010. April 7, 2022. On June 13, 2011, 1 September 16, 2011, September 19, 2011, April 7, 2022. March 9, 2022. On February 10, 2012, 1 March 27, 2012, March 28, 2012. April 7, 2022. On September 14, 2022, 1 September 15, 2022, September 16, 2022. Teucrium Trading, LLC is the sponsor (“Sponsor”) of the Trust. The Sponsor is a member of the National Futures Association (the “NFA”) and became a commodity pool operator (“CPO”) registered with the Commodity Futures Trading Commission (the “CFTC”) effective November 10, 2009. September 8, 2017. The specific investment objective of each Fund and information regarding the organization and operation of each Fund are included in each Fund’s financial statements and accompanying notes, as well as in other sections of this Form 10 Subject to the terms of the Trust Agreement, Teucrium Trading, LLC in its capacity as the Sponsor (“Sponsor”) may no |
Teucrium Sugar Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Teucrium Sugar Fund (referred to herein as “CANE” or the “Fund”) is a commodity pool that is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust formed on September 11, 2009. The investment objective of CANE is to have the daily changes in the NAV of the Fund’s Shares reflect the daily changes in the sugar market for future delivery as measured by the Benchmark. The Benchmark is a weighted average of the closing settlement prices for three futures contracts for No. 11 CANE Benchmark ICE Sugar Futures Contract Weighting Second to expire 35% Third to expire 30% Expiring in the March following the expiration of the third to expire contract 35% The Fund commenced investment operations on September 19, 2011 December 31. On June 13, 2011, 1 September 16, 2011, September 19, 2011, April 7, 2022. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor, may no |
Note 2 - Principal Contracts _4
Note 2 - Principal Contracts and Agreements - Teucrium Sugar Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 The Sponsor employs U.S. Bank N.A. as the Custodian for the Funds. The principal business address for U.S. Bank N.A is 1555 302, 53212. 615 53202. For custody services, the Funds will pay to U.S. Bank N.A. 0.0075% of average gross assets up to $1 $1 first $500 $500 $2 $3 The Sponsor employs Foreside Fund Services, LLC (“Foreside” or the “Distributor”) as the Distributor for the Funds. The Distribution Services Agreement among the Distributor and the Sponsor calls for the Distributor to work with the Custodian in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising materials. The Distributor and the Sponsor have also entered into a Securities Activities and Service Agreement (the “SASA”) under which certain employees and officers of the Sponsor are licensed as registered representatives or registered principals of the Distributor, under Financial Industry Regulatory Authority (“FINRA”) rules. For its services as the Distributor, Foreside receives a fee of 0.01% of the Fund’s average daily net assets and an aggregate annual fee of $100,000 for all Teucrium Funds, along with certain expense reimbursements. For its services under the SASA, Foreside receives a fee of $5,000 per registered representative and $1,000 per registered location. These services are recorded in distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below. Pursuant to a Consulting Services Agreement, Foreside Consulting Services, LLC, performs certain consulting support services for the Trust’s Sponsor. Additionally, Foreside Distributors, LLC performs certain distribution consulting services pursuant to a Distribution Consulting Agreement with the Trust’s Sponsor. Marex Capital Markets, Inc. (“Marex”), StoneX Financial Inc. (“StoneX”) and Phillip Capital Inc. (“Phillip Capital”) serve as the Funds’ clearing brokers to execute and clear futures contracts and provide other brokerage-related services. Marex, StoneX and Phillip Capital are each registered as futures commission merchants (“FCM”) with the U.S. CFTC and are members of the NFA. The clearing brokers are registered as broker-dealers with the SEC and are each a member of FINRA. Marex, StoneX and Phillip Capital are each clearing members of ICE Futures U.S., Inc., Chicago Board of Trade, Chicago Mercantile Exchange, New York Mercantile Exchange, and all other major United States commodity exchanges. For Corn, Soybean, Sugar and Wheat Futures Contracts, Marex is paid $11.00 per round turn. StoneX is paid $2.50 per round turn exclusive of pass-through fees for the exchange and the NFA. Additionally, if the monthly commissions paid by each Fund does not Brokerage Commissions The sole Trustee of the Trust is Wilmington Trust Company, a Delaware banking corporation. The Trustee will accept service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act. For its services, the Trustee receives an annual fee of $3,300 from the Trust. These services are recorded in business permits and licenses fees on the combined statements of operations. A summary of these expenses is included below. The Sponsor employs Thales Capital Partners LLC (“Thales”) for distribution and solicitation-related services. Thales is registered as a Broker-Dealer with the SEC and a member of Financial Industry Regulatory Authority (FINRA) and SIPC. Thales receives a quarterly fee of $18,750 or 0.10% of new assets raised in referred accounts for distribution and solicitation-related services. This fee based on new assets raised is determined by an agreed upon level of assets at the time of signing the contract. These services are recorded in distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below: Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 410,660 $ 363,000 $ 369,293 Amount of Custody Services Waived $ 42,625 $ 120,850 $ 71,342 Amount Recognized for Distribution Services $ 200,313 $ 186,531 $ 180,024 Amount of Distribution Services Waived $ 48,593 $ 94,724 $ 68,140 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 550 $ 991 $ 2,215 Amount Recognized for Thales $ 278,958 $ 297,222 $ 116,901 Amount of Thales Waived $ 106,944 $ 153,198 $ 57,988 |
Teucrium Sugar Fund [Member] | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 Principal Contracts and Agreements The Sponsor employs U.S. Bank N.A. as the Custodian for the Funds. The principal business address for U.S. Bank N.A is 1555 302, 53212. 615 53202. For custody services, the Funds will pay to U.S. Bank N.A. 0.0075% of average gross assets up to $1 $1 first $500 $500 $2 $3 The Sponsor employs Foreside Fund Services, LLC (“Foreside” or the “Distributor”) as the Distributor for the Funds. The Distribution Services Agreement among the Distributor and the Sponsor calls for the Distributor to work with the Custodian in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising materials. The Distributor and the Sponsor have also entered into a Securities Activities and Service Agreement (the “SASA”) under which certain employees and officers of the Sponsor are licensed as registered representatives or registered principals of the Distributor, under Financial Industry Regulatory Authority (“FINRA”) rules. For its services as the Distributor, Foreside receives a fee of 0.01% of the Fund’s average daily net assets and an aggregate annual fee of $100,000 for all Teucrium Funds, along with certain expense reimbursements. For its services under the SASA, Foreside receives a fee of $5,000 per registered representative and $1,000 per registered location. These services are recorded in distribution and marketing fees on the statements of operations. A summary of these expenses is included below. Pursuant to a Consulting Services Agreement, Foreside Consulting Services, LLC, performs certain consulting support services for the Trust’s Sponsor. Additionally, Foreside Distributors, LLC performs certain distribution consulting services pursuant to a Distribution Consulting Agreement with the Trust’s Sponsor. Marex Capital Markets, Inc. (“Marex”) and StoneX Financial Inc. (“StoneX”) serve as the Funds’ clearing brokers to execute and provide other brokerage-related services. Marex and StoneX are each registered as futures commission merchants (“FCM”) with the U.S. CFTC and are members of the NFA. The clearing brokers are registered as broker-dealers with the SEC and are each a member of FINRA. Marex and StoneX are each clearing members of ICE Futures U.S., Inc., Chicago Board of Trade, Chicago Mercantile Exchange, New York Mercantile Exchange, and all other major United States commodity exchanges. For Corn, Soybean, Sugar, and Wheat Futures Contracts Marex is paid $11.00 per round turn. StoneX is paid $2.50 per round turn exclusive of pass-through fees for the exchange and the NFA. Additionally, if the monthly commissions paid by each Fund does not The sole Trustee of the Trust is Wilmington Trust Company, a Delaware banking corporation. The Trustee will accept service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act. For its services, the Trustee receives an annual fee of $3,300 from the Trust. These services are recorded in business permits and licenses fees on the statements of operations. A summary of these expenses is included below. The Sponsor employs Thales Capital Partners LLC (“Thales”) for distribution and solicitation-related services. Thales is registered as a Broker-Dealer with the SEC and a member of FINRA and the Securities Investor Protection Corporation (“SIPC”). Thales receives a quarterly fee of the higher of $18,750 or 0.10% of new assets raised in referred accounts for distribution and solicitation-related services. This fee based on new assets raised is determined by an agreed upon level of assets at the time of signing the contract. These services are recorded in distribution and marketing fees on the statements of operations. A summary of these expenses is included below: Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 15,692 $ 18,782 $ 22,168 Amount of Custody Services Waived $ 1,068 $ 9,186 $ 10,306 Amount Recognized for Distribution Services $ 8,636 $ 10,036 $ 9,928 Amount of Distribution Services Waived $ 3,331 $ 6,027 $ 6,200 Amount Recognized for Wilmington Trust $ 550 $ 252 $ 139 Amount of Wilmington Trust Waived $ - $ 252 $ 139 Amount Recognized for Thales $ 12,926 $ 14,554 $ 6,364 Amount of Thales Waived $ 4,427 $ 9,114 $ 4,770 |
Note 3 - Summary of Significa_4
Note 3 - Summary of Significant Accounting Policies - Teucrium Sugar Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared on a combined basis in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification and include the accounts of the Trust, CORN, CANE, SOYB, WEAT, TAGS and DEFI. Refer to the accompanying separate financial statements for each Fund for more detailed information. For the periods represented by the financial statements herein the operations of the Trust contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI except for eliminations for TAGS as explained below for the months during which each Fund was in operation. Given the investment objective of TAGS as described in Note 1 Revenue Recognition Commodity and Cryptocurrency futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. The Funds seek to earn interest on their assets denominated in U.S. dollars on deposit with the Futures Commission Merchant. In addition, the Funds seek to earn interest on funds held at the custodian and at other financial institutions at prevailing market rates for such investments. The Sponsor may The Sponsor may Brokerage Commissions Beginning on August 21, 2019, December 31, 2022 2021 2020 CORN SOYB CANE WEAT TAGS DEFI TRUST Year Ending December 31, 2022 $ 217,050 $ 27,011 $ 33,469 $ 387,999 $ - $ 2,217 $ 667,746 Year Ending December 31, 2021 $ 141,674 $ 29,889 $ 21,123 $ 47,448 $ - $ - $ 240,134 Year Ending December 31, 2020 $ 149,619 $ 35,880 $ 14,681 $ 40,741 $ 1 $ - $ 240,922 Income Taxes The Trust is organized and will be operated as a Delaware statutory trust. For federal income tax purposes, each Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Funds are required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Funds recognize interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized for the years ending December 31, 2022 2021 2020 2019 The Funds may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 Each Fund receives or pays the proceeds from shares sold or redeemed within three There are a minimum number of baskets and associated shares specified for each Fund in the Fund’s respective prospectus, as amended from time to time. Once the minimum number of baskets is reached, there can be no CORN: 50,000 shares representing 2 baskets SOYB: 50,000 shares representing 2 baskets CANE: 50,000 shares representing 2 baskets WEAT: 50,000 shares representing 2 baskets TAGS: 50,000 shares representing 4 baskets DEFI: 50,000 shares representing 5 baskets Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 188,640,417 $ 32,968,833 $ 61,121,678 Demand Deposit Savings Accounts 46,061,819 99,262,744 95,809,411 Commercial Paper 199,360,060 119,980,366 152,447,206 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 434,062,296 $ 252,211,943 $ 309,378,295 Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement, which represents the amount payable for contracts purchased but not Due from/to Broker The amount recorded by the Trust for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one Payable/Receivable for Securities Purchased/Sold Due from/to broker for investments in securities are securities transactions pending settlement. The Trust and the Funds are subject to credit risk to the extent any broker with whom it conducts business is unable to fulfill contractual obligations on its behalf. The management of the Trust and the Funds monitors the financial condition of such brokers and does not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Fund’s sponsor, Teucrium Trading, LLC (the “Sponsor”), is responsible for investing the assets of the Funds in accordance with the objectives and policies of each Fund. In addition, the Sponsor arranges for one third not no .94% The Agricultural Funds generally pay for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, or any other regulatory agency in connection with the offer and sale of subsequent Shares, after its initial registration, and all legal, accounting, printing and other expenses associated therewith. The Funds also pay the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 2,721,842 $ 2,321,539 $ 2,279,672 Waived Related Party Transactions $ 518,599 $ 1,052,715 $ 775,432 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated, and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value - Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Trust uses various valuation approaches. In accordance with U.S. GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Trust. Unobservable inputs reflect the Trust’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may not 1 2 3 On December 31, 2022 2021 no 1 2 For the quarter ended June 30, 2021, Sep21 Dec21 2 1 September 30, 2021. For the quarter ended March 31, 2021, Jul21 Sep21 Dec21 Jul21 Nov21 2 1 June 30, 2021, Sep21 Dec21 2 For the quarter ending June 30, 2020, DEC21 not, 2 DEC21 June 30, 2020. 1 September 30, 2020. The Funds and the Trust record their derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Investments in the securities of the Underlying Funds are freely traded and listed on the NYSE Arca. These investments are valued at the NAV of the Underlying Fund as of the valuation date as calculated by the administrator based on the exchange-quoted prices of the commodity futures contracts held by the Underlying Fund. Expenses Expenses are recorded using the accrual method of accounting. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: March 31, 2021; not The FASB issued ASU 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Teucrium Sugar Fund [Member] | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification. Revenue Recognition Commodity futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. Interest on cash equivalents with financial institutions are recognized on the accrual basis. The Fund seeks to earn interest on funds held at the custodian and other financial institutions at prevailing market rates for such investments. The Sponsor invests a portion of cash in commercial paper, which is deemed a cash equivalent based on the rating and duration of contracts as described in the notes to the financial statements and reflected in cash and cash equivalents on the statements of assets and liabilities and on the statements of cash flows. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. The Sponsor invests a portion of the cash held by the broker in short term Treasury Bills as collateral for open futures contracts. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. Brokerage Commissions Beginning on August 21, 2019, December 31, 2020 2021 2022 CANE Year Ending December 31, 2022 $ 33,469 Year Ending December 31, 2021 $ 21,123 Year Ending December 31, 2020 $ 14,681 Income Taxes For federal income tax purposes, the Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Fund is required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Fund recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the years ended December 31, 2022 2021 2020 2019 The Fund may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 The Fund receives or pays the proceeds from shares sold or redeemed within three As outlined in the most recent Form S- 1 no Allocation of Shareholder Income and Losses Profit or loss is allocated among the shareholders of the Fund in proportion to the number of shares each shareholder holds as of the close of each month. Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 9,920,499 $ 4,816,883 $ 4,153,164 Demand Deposit Savings Accounts 3,069,677 9,016,479 5,197,140 Commercial Paper 9,987,304 7,499,540 2,499,028 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 22,977,480 $ 21,332,902 $ 11,849,332 Due from/to Broker The amount recorded by the Fund for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Calculation of Net Asset Value The Fund’s NAV is calculated by: · Taking the current market value of its total assets and · Subtracting any liabilities The administrator, Global Fund Services, calculates the NAV of the Fund once each trading day. It calculates the NAV as of the earlier of the close of the NYSE or 4:00 4:15 In determining the value of Sugar Futures Contracts, the administrator uses the ICE closing price. The administrator determines the value of all other Fund investments as of the earlier of the close of the NYSE or 4:00 may third not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Sponsor is responsible for investing the assets of the Fund in accordance with the objectives and policies of the Fund. In addition, the Sponsor arranges for one third not The Fund generally pays for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, , or any other regulatory agency in connection with the offer and sale of subsequent Shares after its initial registration and all legal, accounting, printing and other expenses associated therewith. The Fund also pays its portion of the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Funds based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 119,244 $ 124,660 $ 126,960 Waived Related Party Transactions $ 25,739 $ 48,034 $ 50,547 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no CANE Year Ended December 31, 2022 $ 78,237 Year Ended December 31, 2021 $ 134,294 Year Ended December 31, 2020 $ 210,614 Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Fund uses various valuation approaches. In accordance with U.S. GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may 1 2 3 On December 31, 2022 2021 no 1 2 For the years ended December 31, 2022 2021 not The Fund records its derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Expenses Expenses are recorded using the accrual method of accounting. Net Income (Loss) per Share Net income (loss) per Share is the difference between the NAV per unit at the beginning of each period and at the end of each period. The weighted average number of Shares outstanding was computed for purposes of disclosing net income (loss) per weighted average Share. The weighted average Shares are equal to the number of Shares outstanding at the end of the period, adjusted proportionately for Shares created or redeemed based on the amount of time the Shares were outstanding during such period. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: December 15, 2020. March 31, 2021; not The FASB issued 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Note 4 - Fair Value Measureme_4
Note 4 - Fair Value Measurements - Teucrium Sugar Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 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. December 31, 2022 December 31, 2021 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 388,000,477 $ - $ - $ 388,000,477 Commodity and Cryptocurrency Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Soybean futures contracts 2,520,370 - - 2,520,370 Sugar futures contracts 911,329 - - 911,329 Wheat futures contracts 3,160,732 - - 3,160,732 Bitcoin futures contracts 29,152 - - 29,152 Total $ 396,207,858 $ - $ - $ 396,207,858 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Sugar futures contracts 85,128 - - 85,128 Wheat futures contracts 26,380,838 - - 26,380,838 Total $ 29,433,069 $ - $ - $ 29,433,069 December 31, 2021 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 152,949,199 $ - $ - $ 152,949,199 Commodity Futures Contracts Corn futures contracts 5,936,552 - - 5,936,552 Soybean futures contracts 2,684,851 - - 2,684,851 Sugar futures contracts 1,079,226 - - 1,079,226 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 166,364,500 $ - $ - $ 166,364,500 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Commodity Futures Contracts Sugar futures contracts $ 80,506 $ - $ - $ 80,506 Wheat futures contracts 654,969 - - 654,969 Total $ 735,475 $ - $ - $ 735,475 For the years ended December 31, 2022 2021 not 1 2 See the Fair Value - Definition and Hierarchy 4 |
Teucrium Sugar Fund [Member] | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 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. December 31, 2022 December 31, 2021 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 19,907,803 $ - $ - $ 19,907,803 Sugar futures contracts 911,329 - - 911,329 Total $ 20,819,132 $ - $ - $ 20,819,132 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Sugar futures contracts $ 85,128 $ - $ - $ 85,128 December 31, 2021 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 12,316,423 $ - $ - $ 12,316,423 Sugar futures contracts 1,079,226 - - 1,079,226 Total $ 13,395,649 $ - $ - $ 13,395,649 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Sugar futures contracts $ 80,506 $ - $ - $ 80,506 For the years ended December 31, 2022 2021 not See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Derivative Instrumen_4
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Sugar Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 5 In the normal course of business, the Funds utilize derivative contracts in connection with its proprietary trading activities. Investments in derivative contracts are subject to additional risks that can result in a loss of all or part of an investment. The Funds’ derivative activities and exposure to derivative contracts are classified by the following primary underlying risks: interest rate, credit, commodity price, and equity price risks. In addition to its primary underlying risks, the Funds are also subject to additional counterparty risk due to inability of its counterparties to meet the terms of their contracts. For the years ended December 31, 2022 2021 Futures Contracts The Funds are subject to commodity and cryptocurrency price risk in the normal course of pursuing their investment objectives. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. The purchase and sale of futures contracts requires margin deposits with an FCM. Subsequent payments (variation margin) are made or received by each Fund each day, depending on the daily fluctuations in the value of the contract, and are recorded as unrealized gains or losses by each Fund. Futures contracts may The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other equity deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in FASB ASU No. 2011 11 210 2013 01 210 The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCMs, Marex and StoneX as of December 31, 2022 2021 not 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 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 2021 (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 Corn futures contracts $ 5,936,552 $ - $ 5,936,552 $ - $ - $ 5,936,552 Soybean futures contracts $ 2,684,851 $ - $ 2,684,851 $ - $ 675,169 $ 2,009,682 Sugar futures contracts $ 1,079,226 $ - $ 1,079,226 $ 80,506 $ - $ 998,720 Wheat futures contracts $ 3,714,672 $ - $ 3,714,672 $ 654,969 $ 213,708 $ 2,845,995 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2021 (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 $ 80,506 $ - $ 80,506 $ 80,506 $ - $ - Wheat futures contracts $ 654,969 $ - $ 654,969 $ 654,969 $ - $ - The following is a summary of realized and net change in unrealized gains (losses) of the derivative instruments utilized by the Trust: Year ended December 31, 2022 Realized Gain (Loss) on Commodity and Cryptocurrency Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity and Cryptocurrency Futures Contracts Commodity and Cryptocurrency Price Corn futures contracts $ 28,784,977 $ (7,317,857 ) Soybean futures contracts 10,362,032 (164,481 ) Sugar futures contracts (442,477 ) (172,519 ) Wheat futures contracts (81,457,408 ) (26,279,809 ) Bitcoin futures contracts (423,794 ) 29,152 Total commodity futures contracts $ (43,176,670 ) $ (33,905,514 ) Year ended December 31, 2021 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 65,827,118 $ (14,218,054 ) Soybean futures contracts 27,370,674 (12,439,375 ) Sugar futures contracts 6,223,228 (408,983 ) Wheat futures contracts 18,418,461 (2,678,459 ) Total commodity futures contracts $ 117,839,481 $ (29,744,871 ) Year ended December 31, 2020 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 5,882,216 $ 19,371,125 Soybean futures contracts 14,404,714 14,192,330 Sugar futures contracts (656,937 ) 1,060,274 Wheat futures contracts 5,461,905 669,686 Total commodity futures contracts $ 25,091,898 $ 35,293,415 Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $653.8 million in 2022 2021 2020 |
Teucrium Sugar Fund [Member] | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 5 In the normal course of business, the Fund utilizes derivative contracts in connection with its proprietary trading activities. Investments in derivative contracts are subject to additional risks that can result in a loss of all or part of an investment. The Fund’s derivative activities and exposure to derivative contracts are classified by the following primary underlying risks: interest rate, credit, commodity price, and equity price risks. In addition to its primary underlying risks, the Fund is also subject to additional counterparty risk due to inability of its counterparties to meet the terms of their contracts. For the years ended December 31, 2022 2021 Futures Contracts The Fund is subject to commodity price risk in the normal course of pursuing its investment objectives. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. The purchase and sale of futures contracts requires margin deposits with an FCM. Subsequent payments (variation margin) are made or received by the Fund each day, depending on the daily fluctuations in the value of the contract, and are recorded as unrealized gains or losses by the Fund. Futures contracts may The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other equity deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in FASB ASU No. 2011 11 210 2013 01 210 The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCM, Marex and StoneX as of December 31, 2022 2021 not 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 Price Sugar futures contracts $ 911,329 $ - $ 911,329 $ 85,128 $ - $ 826,201 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 Price Sugar futures contracts $ 85,128 $ - $ 85,128 $ 85,128 $ - $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 2021 (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 $ 1,079,226 $ - $ 1,079,226 $ 80,506 $ - $ 998,720 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2021 (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 $ 80,506 $ - $ 80,506 $ 80,506 $ - $ - The following is a summary of realized and net change in unrealized gains (losses) of the derivative instruments utilized by the Fund: Year ended December 31, 2022 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ (442,477 ) $ (172,519 ) Year ended December 31, 2021 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ 6,223,228 $ (408,983 ) Year ended December 31, 2020 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ (656,937 ) $ 1,060,274 Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $27.1 million in 2022 2021 2020 |
Note 6 - Financial Highlights_3
Note 6 - Financial Highlights - Teucrium Sugar Fund | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Sugar Fund [Member] | |
Notes to Financial Statements | |
Investment Company, Financial Highlights [Text Block] | Note 6 The following table presents per share performance data and other supplemental financial data for the years ended December 31, 2022, 2021 2020 Year ended Year ended Year ended December 31, 2022 December 31, 2021 December 31, 2020 Per Share Operation Performance Net asset value at beginning of period $ 9.23 $ 6.72 $ 7.04 Income (loss) from investment operations: Investment income 0.15 0.01 0.04 Net realized and unrealized gain (loss) on commodity futures contracts 0.31 2.65 (0.20 ) Total expenses, net (0.18 ) (0.15 ) (0.16 ) Net increase (decrease) in net asset value 0.28 2.51 (0.32 ) Net asset value at end of period $ 9.51 $ 9.23 $ 6.72 Total Return 3.13 % 37.31 % (4.51 )% Ratios to Average Net Assets (Annualized) Total expenses 2.12 % 2.49 % 4.67 % Total expenses, net 1.84 % 1.84 % 2.64 % Net investment loss (0.21 )% (1.70 )% (1.98 )% The financial highlights per share data are calculated consistent with the methodology used to calculate asset-based fees and expenses. |
Note 7 - Organizational and O_3
Note 7 - Organizational and Offering Costs - Teucrium Sugar Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Organizational and Offering Costs [Text Block] | Note 6 Expenses incurred in organizing of the Trust and the initial offering of the shares, including applicable SEC registration fees, were borne directly by the Sponsor for the Funds and will be borne directly by the Sponsor for any series of the Trust which is not not |
Teucrium Sugar Fund [Member] | |
Notes to Financial Statements | |
Organizational and Offering Costs [Text Block] | Note 7 Expenses incurred in organizing of the Trust and the initial offering of the Shares of the Fund, including applicable SEC registration fees, were borne directly by the Sponsor. The Fund is not |
Note 8 - Subsequent Events - _3
Note 8 - Subsequent Events - Teucrium Sugar Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Management has evaluated the financial statements for the year-ended December 31, 2022 no CORN: Nothing to report. SOYB: The total net assets of the Fund decreased by $15,131,868, or 26%, for the period December 31, 2022 February 28, 2023. CANE: Nothing to report. WEAT: The total net assets of the Fund decreased by $46,724,300, or 20%, for the period December 31, 2022 February 28, 2023. TAGS: Nothing to report. DEFI: The total net assets of the Fund increased by $431,977, or 40%, for the period December 31, 2022 February 28, 2023. |
Teucrium Sugar Fund [Member] | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Management has evaluated the financial statements for the year-ended December 31, 2022 no Nothing to report. |
Schedule of Investments - Teu_4
Schedule of Investments - Teucrium Wheat Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Investment Holdings, Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS December 31, 2022 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 28,382,122 $ 28,382,122 6.10 % 28,382,122 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 160,258,295 160,258,295 34.44 160,258,295 Total money market funds $ 188,640,417 $ 188,640,417 40.54 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 1.07 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 14,877,488 14,968,886 3.22 15,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % 4,959,225 4,989,644 1.07 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 9,935,000 9,972,500 2.14 10,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 9,899,472 9,943,862 2.14 10,000,000 Crown Castle Inc. January 10, 2023 4.877 % 7,443,000 7,491,000 1.61 7,500,000 Crown Castle Inc. January 12, 2023 4.765 % 12,449,410 12,482,050 2.68 12,500,000 Entergy Corporation January 4, 2023 4.311 % 9,926,808 9,996,460 2.15 10,000,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 12,400,060 12,486,207 2.68 12,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 7,418,417 7,484,417 1.61 7,500,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 2.15 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 5,461,843 5,491,823 1.18 5,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 5,263,032 5,298,631 1.14 5,300,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 1.61 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 4,959,561 4,977,688 1.07 5,000,000 Humana Inc. January 9, 2023 4.670 % 7,448,250 7,492,333 1.61 7,500,000 Hyundai Capital America January 10, 2023 4.000 % 9,903,645 9,990,145 2.15 10,000,000 ITT Inc. January 19, 2023 4.475 % 4,965,088 4,988,975 1.07 5,000,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 1.07 5,000,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 1.07 5,000,000 Oracle Corporation January 17, 2023 4.361 % 9,931,919 9,980,889 2.14 10,000,000 V.F. Corporation January 17, 2023 4.364 % 4,959,390 4,990,444 1.07 5,000,000 V.F. Corporation February 2, 2023 4.669 % 6,456,811 6,473,422 1.39 6,500,000 VW Credit, Inc. January 19, 2023 4.434 % 7,448,106 7,483,613 1.61 7,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 4,970,188 4,971,512 1.07 5,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 4,959,098 4,961,736 1.07 5,000,000 Total Commercial Paper $ 198,351,250 $ 199,360,060 42.84 % Total Cash Equivalents $ 388,000,477 83.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 0.34 % $ 45,779,763 United States soybean futures contracts CBOT soybean futures MAR23 268 642,912 0.14 20,421,600 CBOT soybean futures MAY23 229 807,218 0.17 17,518,500 CBOT soybean futures NOV23 289 1,070,240 0.23 20,472,038 United States sugar futures contracts ICE sugar futures MAY23 401 356,963 0.08 8,407,526 ICE sugar futures JUL23 362 554,366 0.12 7,289,811 United States wheat futures contracts CBOT wheat futures JUL23 1,711 3,160,732 0.68 68,696,650 United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 24,979 0.01 496,050 CME Bitcoin futures FEB23 7 4,173 0.00 575,575 Total commodity and cryptocurrency futures contracts $ 8,207,381 1.77 % $ 189,657,513 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.16 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 0.48 53,440,625 United States sugar futures contracts ICE sugar futures MAR24 427 85,128 0.02 8,565,278 United States wheat futures contracts CBOT wheat futures MAY23 2,005 7,079,231 1.52 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 4.15 80,220,450 Total commodity and cryptocurrency futures contracts $ 29,433,069 6.33 % $ 275,693,541 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 9,885,980 2.12 % 367,555 Teucrium Soybean Fund 9,921,042 2.13 348,075 Teucrium Sugar Fund 9,745,653 2.09 1,024,284 Teucrium Wheat Fund 10,020,023 2.15 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 8.49 % *The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. The accompanying notes are an integral part of these financial statements. TEUCRIUM COMMODITY TRUST COMBINED SCHEDULE OF INVESTMENTS December 31, 2021 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 30,443,449 $ 30,443,449 11.52 % 30,443,449 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,525,384 2,525,384 0.96 2,525,384 Total money market funds $ 32,968,833 $ 32,968,833 12.48 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 9,996,324 $ 9,998,489 3.78 % 10,000,000 Albemarle Corporation January 11, 2022 0.200 % 4,998,834 4,999,722 1.89 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 0.95 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 7,497,300 7,499,867 2.84 7,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 4,998,710 4,999,646 1.89 5,000,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 4,998,000 4,999,889 1.89 5,000,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 9,995,111 9,998,333 3.78 10,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 4,998,800 4,999,956 1.89 5,000,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 9,996,061 9,999,444 3.78 10,000,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 4,997,876 4,999,268 1.89 5,000,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 4,997,328 4,997,918 1.89 5,000,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 1.89 5,000,000 Jabil Inc. January 20, 2022 0.250 % 2,499,219 2,499,670 0.95 2,500,000 Jabil Inc. February 8, 2022 0.300 % 7,496,063 7,497,625 2.84 7,500,000 Jabil Inc. February 25, 2022 0.310 % 4,996,900 4,997,632 1.89 5,000,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 1.89 5,000,000 Viatris Inc. February 11, 2022 0.300 % 4,996,625 4,998,292 1.89 5,000,000 Viatris Inc. March 1, 2022 0.310 % 4,996,986 4,997,460 1.89 5,000,000 Viatris Inc. January 21, 2022 0.200 % 4,998,584 4,999,444 1.89 5,000,000 WGL Holdings, Inc. January 12, 2022 0.220 % 4,998,686 4,999,664 1.89 5,000,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 1.89 5,000,000 Total Commercial Paper $ 119,951,019 $ 119,980,366 45.38 % Total Cash Equivalents $ 152,949,199 57.86 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 1.43 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.07 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 0.75 42,533,400 United States soybean futures contracts CBOT soybean futures MAR22 234 591,547 0.22 15,669,225 CBOT soybean futures MAY22 199 1,008,504 0.38 13,422,550 CBOT soybean futures NOV22 250 1,084,800 0.41 15,865,625 United States sugar futures contracts ICE sugar futures MAY22 381 225,299 0.09 7,936,992 ICE sugar futures MAR23 392 853,927 0.32 8,091,507 United States wheat futures contracts CBOT wheat futures MAY22 687 1,809,796 0.68 26,595,488 CBOT wheat futures DEC22 686 1,904,876 0.72 26,411,000 Total commodity futures contracts $ 13,415,301 5.07 % $ 234,855,437 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.03 % $ 6,817,541 United States wheat futures contracts CBOT wheat futures JUL22 593 654,969 0.25 22,667,425 Total commodity futures contracts $ 735,475 0.28 % $ 29,484,966 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,537,560 1.34 % 163,930 Teucrium Soybean Fund 3,538,006 1.34 155,374 Teucrium Sugar Fund 3,591,878 1.36 389,317 Teucrium Wheat Fund 3,510,575 1.33 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 5.37 % *The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. The accompanying notes are an integral part of these financial statements. |
Teucrium Wheat Fund [Member] | |
Notes to Financial Statements | |
Investment Holdings, Schedule of Investments [Text Block] | SCHEDULE OF INVESTMENTS December 31, 2022 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 8,255,546 $ 8,255,546 3.61 % 8,255,546 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 91,570,730 91,570,730 39.99 91,570,730 Total money market funds $ 99,826,276 $ 99,826,276 43.60 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 2.18 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 7,438,744 7,484,443 3.27 7,500,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 4,967,500 4,986,250 2.18 5,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 4,949,736 4,971,931 2.17 5,000,000 Crown Castle Inc. January 10, 2023 4.877 % 2,481,000 2,497,000 1.09 2,500,000 Crown Castle Inc. January 12, 2023 4.765 % 4,979,764 4,992,820 2.18 5,000,000 Entergy Corporation January 4, 2023 4.311 % 2,481,702 2,499,115 1.09 2,500,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 2,475,149 2,497,369 1.09 2,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 4,945,611 4,989,611 2.18 5,000,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 4.36 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 2,979,187 2,995,540 1.31 3,000,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 2,780,470 2,799,277 1.22 2,800,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 2,479,780 2,488,844 1.09 2,500,000 Humana Inc. January 9, 2023 4.670 % 4,965,500 4,994,889 2.18 5,000,000 Hyundai Capital America January 10, 2023 4.000 % 7,427,734 7,492,609 3.27 7,500,000 ITT Inc. January 19, 2023 4.475 % 2,482,544 2,494,488 1.09 2,500,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 2.18 5,000,000 Oracle Corporation January 17, 2023 4.361 % 7,448,939 7,485,667 3.27 7,500,000 V.F. Corporation January 17, 2023 4.364 % 2,479,695 2,495,222 1.09 2,500,000 V.F. Corporation February 2, 2023 4.669 % 1,986,711 1,991,822 0.87 2,000,000 VW Credit, Inc. January 19, 2023 4.434 % 2,482,702 2,494,538 1.09 2,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 2,485,094 2,485,756 1.09 2,500,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 2,479,549 2,480,868 1.08 2,500,000 Total Commercial Paper $ 97,073,593 $ 97,594,565 42.62 % Total Cash Equivalents $ 197,420,841 86.22 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States wheat futures contracts CBOT wheat futures JUL23 1,711 $ 3,160,732 1.38 % $ 68,696,650 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States wheat futures contracts CBOT wheat futures MAY23 2,005 $ 7,079,231 3.09 % $ 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 8.43 80,220,450 Total commodity futures contracts $ 26,380,838 11.52 % $ 160,295,138 The accompanying notes are an integral part of these financial statements. TEUCRIUM WHEAT FUND SCHEDULE OF INVESTMENTS December 31, 2021 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 5,281,765 $ 5,281,765 6.99 % 5,281,765 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 3,228 3,228 0.00 3,228 Total money market funds $ 5,284,993 $ 5,284,993 6.99 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 2,499,081 $ 2,499,622 3.30 % 2,500,000 Albemarle Corporation January 11, 2022 0.200 % 2,499,417 2,499,861 3.31 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 3.31 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 2,499,300 2,499,956 3.31 2,500,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 2,499,000 2,499,945 3.31 2,500,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 2,498,778 2,499,583 3.30 2,500,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 2,499,015 2,499,861 3.31 2,500,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 2,498,938 2,499,634 3.31 2,500,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 2,498,664 2,498,959 3.30 2,500,000 Jabil Inc. February 8, 2022 0.300 % 2,498,688 2,499,208 3.30 2,500,000 Jabil Inc. February 25, 2022 0.310 % 2,498,450 2,498,816 3.30 2,500,000 Viatris Inc. February 11, 2022 0.300 % 2,498,313 2,499,146 3.30 2,500,000 Viatris Inc. January 21, 2011 0.200 % 2,499,292 2,499,722 3.31 2,500,000 Viatris Inc. March 1, 2022 0.310 % 2,498,493 2,498,730 3.30 2,500,000 WGL Holdings, Inc. January 12, 2022 0.220 % 2,499,343 2,499,832 3.31 2,500,000 Total Commercial Paper $ 37,483,793 $ 37,492,592 49.58 % Total Cash Equivalents $ 42,777,585 56.57 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States wheat futures contracts CBOT wheat futures MAY22 687 $ 1,809,796 2.39 % $ 26,595,488 CBOT wheat futures DEC22 686 1,904,876 2.52 26,411,000 Total commodity futures contracts $ 3,714,672 4.91 % $ 53,006,488 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States wheat futures contracts CBOT wheat futures JUL22 593 $ 654,969 0.87 % $ 22,667,425 The accompanying notes are an integral part of these financial statements. |
Note 1 - Organization and Ope_5
Note 1 - Organization and Operation - Teucrium Wheat Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009, On June 7, 2010, 1 June 8, 2010, June 9, 2010. April 7, 2022. On June 13, 2011, 1 September 16, 2011, September 19, 2011, April 7, 2022. March 9, 2022. On February 10, 2012, 1 March 27, 2012, March 28, 2012. April 7, 2022. On September 14, 2022, 1 September 15, 2022, September 16, 2022. Teucrium Trading, LLC is the sponsor (“Sponsor”) of the Trust. The Sponsor is a member of the National Futures Association (the “NFA”) and became a commodity pool operator (“CPO”) registered with the Commodity Futures Trading Commission (the “CFTC”) effective November 10, 2009. September 8, 2017. The specific investment objective of each Fund and information regarding the organization and operation of each Fund are included in each Fund’s financial statements and accompanying notes, as well as in other sections of this Form 10 Subject to the terms of the Trust Agreement, Teucrium Trading, LLC in its capacity as the Sponsor (“Sponsor”) may no |
Teucrium Wheat Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Teucrium Wheat Fund (referred to herein as “WEAT” or the “Fund”) is a commodity pool that is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust formed on September 11, 2009. The investment objective of WEAT is to have the daily changes in the NAV of the Fund’s Shares reflect the daily changes in the wheat market for future delivery as measured by the Benchmark. The Benchmark is a weighted average of the closing settlement prices for three futures contracts for wheat (“Wheat Futures Contracts”) that are traded on the Chicago Board of Trade (“CBOT”): WEAT Benchmark CBOT Wheat Futures Contract Weighting Second to expire 35% Third to expire 30% December following the third to expire 35% The Fund commenced investment operations on September 19, 2011 December 31. On June 13, 2011, 1 September 19, 2011, 100,000shares September 19, 2011 December 31, 2010, March 9, 2022. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor, may no |
Note 2 - Principal Contracts _5
Note 2 - Principal Contracts and Agreements - Teucrium Wheat Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 The Sponsor employs U.S. Bank N.A. as the Custodian for the Funds. The principal business address for U.S. Bank N.A is 1555 302, 53212. 615 53202. For custody services, the Funds will pay to U.S. Bank N.A. 0.0075% of average gross assets up to $1 $1 first $500 $500 $2 $3 The Sponsor employs Foreside Fund Services, LLC (“Foreside” or the “Distributor”) as the Distributor for the Funds. The Distribution Services Agreement among the Distributor and the Sponsor calls for the Distributor to work with the Custodian in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising materials. The Distributor and the Sponsor have also entered into a Securities Activities and Service Agreement (the “SASA”) under which certain employees and officers of the Sponsor are licensed as registered representatives or registered principals of the Distributor, under Financial Industry Regulatory Authority (“FINRA”) rules. For its services as the Distributor, Foreside receives a fee of 0.01% of the Fund’s average daily net assets and an aggregate annual fee of $100,000 for all Teucrium Funds, along with certain expense reimbursements. For its services under the SASA, Foreside receives a fee of $5,000 per registered representative and $1,000 per registered location. These services are recorded in distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below. Pursuant to a Consulting Services Agreement, Foreside Consulting Services, LLC, performs certain consulting support services for the Trust’s Sponsor. Additionally, Foreside Distributors, LLC performs certain distribution consulting services pursuant to a Distribution Consulting Agreement with the Trust’s Sponsor. Marex Capital Markets, Inc. (“Marex”), StoneX Financial Inc. (“StoneX”) and Phillip Capital Inc. (“Phillip Capital”) serve as the Funds’ clearing brokers to execute and clear futures contracts and provide other brokerage-related services. Marex, StoneX and Phillip Capital are each registered as futures commission merchants (“FCM”) with the U.S. CFTC and are members of the NFA. The clearing brokers are registered as broker-dealers with the SEC and are each a member of FINRA. Marex, StoneX and Phillip Capital are each clearing members of ICE Futures U.S., Inc., Chicago Board of Trade, Chicago Mercantile Exchange, New York Mercantile Exchange, and all other major United States commodity exchanges. For Corn, Soybean, Sugar and Wheat Futures Contracts, Marex is paid $11.00 per round turn. StoneX is paid $2.50 per round turn exclusive of pass-through fees for the exchange and the NFA. Additionally, if the monthly commissions paid by each Fund does not Brokerage Commissions The sole Trustee of the Trust is Wilmington Trust Company, a Delaware banking corporation. The Trustee will accept service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act. For its services, the Trustee receives an annual fee of $3,300 from the Trust. These services are recorded in business permits and licenses fees on the combined statements of operations. A summary of these expenses is included below. The Sponsor employs Thales Capital Partners LLC (“Thales”) for distribution and solicitation-related services. Thales is registered as a Broker-Dealer with the SEC and a member of Financial Industry Regulatory Authority (FINRA) and SIPC. Thales receives a quarterly fee of $18,750 or 0.10% of new assets raised in referred accounts for distribution and solicitation-related services. This fee based on new assets raised is determined by an agreed upon level of assets at the time of signing the contract. These services are recorded in distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below: Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 410,660 $ 363,000 $ 369,293 Amount of Custody Services Waived $ 42,625 $ 120,850 $ 71,342 Amount Recognized for Distribution Services $ 200,313 $ 186,531 $ 180,024 Amount of Distribution Services Waived $ 48,593 $ 94,724 $ 68,140 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 550 $ 991 $ 2,215 Amount Recognized for Thales $ 278,958 $ 297,222 $ 116,901 Amount of Thales Waived $ 106,944 $ 153,198 $ 57,988 |
Teucrium Wheat Fund [Member] | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 Principal Contracts and Agreements The Sponsor employs U.S. Bank N.A. as the Custodian for the Funds. The principal business address for U.S. Bank N.A is 1555 302, 53212. 615 53202. For custody services, the Funds will pay to U.S. Bank N.A. 0.0075% of average gross assets up to $1 $1 first $500 $500 $2 $3 The Sponsor employs Foreside Fund Services, LLC (“Foreside” or the “Distributor”) as the Distributor for the Funds. The Distribution Services Agreement among the Distributor and the Sponsor calls for the Distributor to work with the Custodian in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising materials. The Distributor and the Sponsor have also entered into a Securities Activities and Service Agreement (the “SASA”) under which certain employees and officers of the Sponsor are licensed as registered representatives or registered principals of the Distributor, under Financial Industry Regulatory Authority (“FINRA”) rules. For its services as the Distributor, Foreside receives a fee of 0.01% of the Fund’s average daily net assets and an aggregate annual fee of $100,000 for all Teucrium Funds, along with certain expense reimbursements. For its services under the SASA, Foreside receives a fee of $5,000 per registered representative and $1,000 per registered location. These services are recorded in distribution and marketing fees on the statements of operations. A summary of these expenses is included below. Pursuant to a Consulting Services Agreement, Foreside Consulting Services, LLC, performs certain consulting support services for the Trust’s Sponsor. Additionally, Foreside Distributors, LLC performs certain distribution consulting services pursuant to a Distribution Consulting Agreement with the Trust’s Sponsor. Marex Capital Markets, Inc. (“Marex”) and StoneX Financial Inc. (“StoneX”) serve as the Funds’ clearing brokers to execute and provide other brokerage-related services. Marex and StoneX are each registered as futures commission merchants (“FCM”) with the U.S. CFTC and are members of the NFA. The clearing brokers are registered as broker-dealers with the SEC and are each a member of FINRA. Marex and StoneX are each clearing members of ICE Futures U.S., Inc., Chicago Board of Trade, Chicago Mercantile Exchange, New York Mercantile Exchange, and all other major United States commodity exchanges. For Corn, Soybean, Sugar, and Wheat Futures Contracts Marex is paid $11.00 per round turn. StoneX is paid $2.50 per round turn exclusive of pass-through fees for the exchange and the NFA. Additionally, if the monthly commissions paid by each Fund does not The sole Trustee of the Trust is Wilmington Trust Company, a Delaware banking corporation. The Trustee will accept service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act. For its services, the Trustee receives an annual fee of $3,300 from the Trust. These services are recorded in business permits and licenses fees on the statements of operations. A summary of these expenses is included below. The Sponsor employs Thales Capital Partners LLC (“Thales”) for distribution and solicitation-related services. Thales is registered as a Broker-Dealer with the SEC and a member of FINRA and the Securities Investor Protection Corporation (“SIPC”). Thales receives a quarterly fee of the higher of $18,750 or 0.10% of new assets raised in referred accounts for distribution and solicitation-related services. This fee based on new assets raised is determined by an agreed upon level of assets at the time of signing the contract. These services are recorded in distribution and marketing fees on the statements of operations. A summary of these expenses is included below: Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 228,096 $ 74,742 $ 84,306 Amount of Custody Services Waived $ 14,164 $ 14,267 $ 5,939 Amount Recognized for Distribution Services $ 102,332 $ 38,391 $ 39,577 Amount of Distribution Services Waived $ 14,931 $ 20,120 $ 9,177 Amount Recognized for Wilmington Trust $ 550 $ 789 $ 565 Amount of Wilmington Trust Waived $ - $ - $ 565 Amount Recognized for Thales $ 135,043 $ 59,673 $ 24,841 Amount of Thales Waived $ 66,481 $ 26,449 $ 8,462 |
Note 3 - Summary of Significa_5
Note 3 - Summary of Significant Accounting Policies - Teucrium Wheat Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared on a combined basis in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification and include the accounts of the Trust, CORN, CANE, SOYB, WEAT, TAGS and DEFI. Refer to the accompanying separate financial statements for each Fund for more detailed information. For the periods represented by the financial statements herein the operations of the Trust contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI except for eliminations for TAGS as explained below for the months during which each Fund was in operation. Given the investment objective of TAGS as described in Note 1 Revenue Recognition Commodity and Cryptocurrency futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. The Funds seek to earn interest on their assets denominated in U.S. dollars on deposit with the Futures Commission Merchant. In addition, the Funds seek to earn interest on funds held at the custodian and at other financial institutions at prevailing market rates for such investments. The Sponsor may The Sponsor may Brokerage Commissions Beginning on August 21, 2019, December 31, 2022 2021 2020 CORN SOYB CANE WEAT TAGS DEFI TRUST Year Ending December 31, 2022 $ 217,050 $ 27,011 $ 33,469 $ 387,999 $ - $ 2,217 $ 667,746 Year Ending December 31, 2021 $ 141,674 $ 29,889 $ 21,123 $ 47,448 $ - $ - $ 240,134 Year Ending December 31, 2020 $ 149,619 $ 35,880 $ 14,681 $ 40,741 $ 1 $ - $ 240,922 Income Taxes The Trust is organized and will be operated as a Delaware statutory trust. For federal income tax purposes, each Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Funds are required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Funds recognize interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized for the years ending December 31, 2022 2021 2020 2019 The Funds may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 Each Fund receives or pays the proceeds from shares sold or redeemed within three There are a minimum number of baskets and associated shares specified for each Fund in the Fund’s respective prospectus, as amended from time to time. Once the minimum number of baskets is reached, there can be no CORN: 50,000 shares representing 2 baskets SOYB: 50,000 shares representing 2 baskets CANE: 50,000 shares representing 2 baskets WEAT: 50,000 shares representing 2 baskets TAGS: 50,000 shares representing 4 baskets DEFI: 50,000 shares representing 5 baskets Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 188,640,417 $ 32,968,833 $ 61,121,678 Demand Deposit Savings Accounts 46,061,819 99,262,744 95,809,411 Commercial Paper 199,360,060 119,980,366 152,447,206 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 434,062,296 $ 252,211,943 $ 309,378,295 Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement, which represents the amount payable for contracts purchased but not Due from/to Broker The amount recorded by the Trust for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one Payable/Receivable for Securities Purchased/Sold Due from/to broker for investments in securities are securities transactions pending settlement. The Trust and the Funds are subject to credit risk to the extent any broker with whom it conducts business is unable to fulfill contractual obligations on its behalf. The management of the Trust and the Funds monitors the financial condition of such brokers and does not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Fund’s sponsor, Teucrium Trading, LLC (the “Sponsor”), is responsible for investing the assets of the Funds in accordance with the objectives and policies of each Fund. In addition, the Sponsor arranges for one third not no .94% The Agricultural Funds generally pay for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, or any other regulatory agency in connection with the offer and sale of subsequent Shares, after its initial registration, and all legal, accounting, printing and other expenses associated therewith. The Funds also pay the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 2,721,842 $ 2,321,539 $ 2,279,672 Waived Related Party Transactions $ 518,599 $ 1,052,715 $ 775,432 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated, and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value - Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Trust uses various valuation approaches. In accordance with U.S. GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Trust. Unobservable inputs reflect the Trust’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may not 1 2 3 On December 31, 2022 2021 no 1 2 For the quarter ended June 30, 2021, Sep21 Dec21 2 1 September 30, 2021. For the quarter ended March 31, 2021, Jul21 Sep21 Dec21 Jul21 Nov21 2 1 June 30, 2021, Sep21 Dec21 2 For the quarter ending June 30, 2020, DEC21 not, 2 DEC21 June 30, 2020. 1 September 30, 2020. The Funds and the Trust record their derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Investments in the securities of the Underlying Funds are freely traded and listed on the NYSE Arca. These investments are valued at the NAV of the Underlying Fund as of the valuation date as calculated by the administrator based on the exchange-quoted prices of the commodity futures contracts held by the Underlying Fund. Expenses Expenses are recorded using the accrual method of accounting. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: March 31, 2021; not The FASB issued ASU 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Teucrium Wheat Fund [Member] | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification. Revenue Recognition Commodity futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. The Fund seeks to earn interest on its assets denominated in U.S. dollars on deposit with the Futures Commission Merchant. In addition, the Fund earns interest on funds held at the custodian and at other financial institutions at prevailing market rates for such investments. The Sponsor invests a portion of cash in commercial paper, which is deemed a cash equivalent based on the rating and duration of contracts as described in the notes to the financial statements and reflected in cash and cash equivalents on the statements of assets and liabilities and on the statements of cash flows. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. The Sponsor invests a portion of the cash held by the broker in short term Treasury Bills as collateral for open futures contracts. Accretion on these investments is recognized using the effective interest method in U.S. dollars and included in interest income on the statements of operations. Brokerage Commissions Beginning on August 21, 2019, December 31, 2020 2021 2022 WEAT Year Ending December 31, 2022 $ 387,999 Year Ending December 31, 2021 $ 47,448 Year Ending December 31, 2020 $ 40,741 Income Taxes For federal income tax purposes, the Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Fund is required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Fund recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the years ended December 31, 2022 2021 2020 2019 The Fund may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 The Fund receives or pays the proceeds from shares sold or redeemed within three As outlined in the most recent Form S- 1 no Allocation of Shareholder Income and Losses Profit or loss is allocated among the shareholders of the Fund in proportion to the number of shares each shareholder holds as of the close of each month. Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 99,826,276 $ 5,284,993 $ 16,227,402 Demand Deposit Savings Accounts 12,309,984 30,064,031 17,730,566 Commercial Paper 97,594,565 37,492,592 34,988,757 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 209,730,825 $ 72,841,616 $ 68,946,725 Due from/to Broker The amount recorded by the Fund for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Calculation of Net Asset Value The Fund’s NAV is calculated by: · Taking the current market value of its total assets and · Subtracting any liabilities The administrator, Global Fund Services, calculates the NAV of the Fund once each trading day. It calculates the NAV as of the earlier of the close of the NYSE or 4:00 4:15 In determining the value of Wheat Futures Contracts, the administrator uses the CBOT closing price. The administrator determines the value of all other Fund investments as of the earlier of the close of the NYSE or 4:00 may third not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Sponsor is responsible for investing the assets of the Fund in accordance with the objectives and policies of the Fund. In addition, the Sponsor arranges for one third not The Fund generally pays for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, , or any other regulatory agency in connection with the offer and sale of subsequent Shares after its initial registration and all legal, accounting, printing and other expenses associated therewith. The Fund also pays its portion of the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Funds based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 1,388,272 $ 478,989 $ 503,823 Waived Related Party Transactions $ 224,587 $ 134,898 $ 27,789 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no WEAT Year Ended December 31, 2022 $ 425,164 Year Ended December 31, 2021 $ 307,565 Year Ended December 31, 2020 $ 81,190 Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value - Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Fund uses various valuation approaches. In accordance with U.S. GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may 1 2 3 On December 31, 2022 2021 no 1 2 For the period ended June 30, 2020, DEC21 not, 2 June 30, 2020 1 September 30, 2020. The Fund records its derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Expenses Expenses are recorded using the accrual method of accounting. Net Income (Loss) per Share Net income (loss) per Share is the difference between the NAV per unit at the beginning of each period and at the end of each period. The weighted average number of Shares outstanding was computed for purposes of disclosing net income (loss) per weighted average Share. The weighted average Shares are equal to the number of Shares outstanding at the end of the period, adjusted proportionately for Shares created or redeemed based on the amount of time the Shares were outstanding during such period. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: December 15, 2020. March 31, 2021; not The FASB issued 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Note 4 - Fair Value Measureme_5
Note 4 - Fair Value Measurements - Teucrium Wheat Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 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. December 31, 2022 December 31, 2021 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 388,000,477 $ - $ - $ 388,000,477 Commodity and Cryptocurrency Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Soybean futures contracts 2,520,370 - - 2,520,370 Sugar futures contracts 911,329 - - 911,329 Wheat futures contracts 3,160,732 - - 3,160,732 Bitcoin futures contracts 29,152 - - 29,152 Total $ 396,207,858 $ - $ - $ 396,207,858 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Sugar futures contracts 85,128 - - 85,128 Wheat futures contracts 26,380,838 - - 26,380,838 Total $ 29,433,069 $ - $ - $ 29,433,069 December 31, 2021 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 152,949,199 $ - $ - $ 152,949,199 Commodity Futures Contracts Corn futures contracts 5,936,552 - - 5,936,552 Soybean futures contracts 2,684,851 - - 2,684,851 Sugar futures contracts 1,079,226 - - 1,079,226 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 166,364,500 $ - $ - $ 166,364,500 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Commodity Futures Contracts Sugar futures contracts $ 80,506 $ - $ - $ 80,506 Wheat futures contracts 654,969 - - 654,969 Total $ 735,475 $ - $ - $ 735,475 For the years ended December 31, 2022 2021 not 1 2 See the Fair Value - Definition and Hierarchy 4 |
Teucrium Wheat Fund [Member] | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 - 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. December 31, 2022 December 31, 2021 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 197,420,841 $ - $ - $ 197,420,841 Wheat futures contracts 3,160,732 - - 3,160,732 Total $ 200,581,573 $ - $ - $ 200,581,573 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Wheat futures contracts $ 26,380,838 $ - $ - $ 26,380,838 December 31, 2021 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 42,777,585 $ - $ - $ 42,777,585 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 46,492,257 $ - $ - $ 46,492,257 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Wheat futures contracts $ 654,969 $ - $ - $ 654,969 For the years ended December 31, 2022 2021 not See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Derivative Instrumen_5
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Wheat Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 5 In the normal course of business, the Funds utilize derivative contracts in connection with its proprietary trading activities. Investments in derivative contracts are subject to additional risks that can result in a loss of all or part of an investment. The Funds’ derivative activities and exposure to derivative contracts are classified by the following primary underlying risks: interest rate, credit, commodity price, and equity price risks. In addition to its primary underlying risks, the Funds are also subject to additional counterparty risk due to inability of its counterparties to meet the terms of their contracts. For the years ended December 31, 2022 2021 Futures Contracts The Funds are subject to commodity and cryptocurrency price risk in the normal course of pursuing their investment objectives. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. The purchase and sale of futures contracts requires margin deposits with an FCM. Subsequent payments (variation margin) are made or received by each Fund each day, depending on the daily fluctuations in the value of the contract, and are recorded as unrealized gains or losses by each Fund. Futures contracts may The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other equity deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in FASB ASU No. 2011 11 210 2013 01 210 The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCMs, Marex and StoneX as of December 31, 2022 2021 not 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 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 2021 (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 Corn futures contracts $ 5,936,552 $ - $ 5,936,552 $ - $ - $ 5,936,552 Soybean futures contracts $ 2,684,851 $ - $ 2,684,851 $ - $ 675,169 $ 2,009,682 Sugar futures contracts $ 1,079,226 $ - $ 1,079,226 $ 80,506 $ - $ 998,720 Wheat futures contracts $ 3,714,672 $ - $ 3,714,672 $ 654,969 $ 213,708 $ 2,845,995 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2021 (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 $ 80,506 $ - $ 80,506 $ 80,506 $ - $ - Wheat futures contracts $ 654,969 $ - $ 654,969 $ 654,969 $ - $ - The following is a summary of realized and net change in unrealized gains (losses) of the derivative instruments utilized by the Trust: Year ended December 31, 2022 Realized Gain (Loss) on Commodity and Cryptocurrency Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity and Cryptocurrency Futures Contracts Commodity and Cryptocurrency Price Corn futures contracts $ 28,784,977 $ (7,317,857 ) Soybean futures contracts 10,362,032 (164,481 ) Sugar futures contracts (442,477 ) (172,519 ) Wheat futures contracts (81,457,408 ) (26,279,809 ) Bitcoin futures contracts (423,794 ) 29,152 Total commodity futures contracts $ (43,176,670 ) $ (33,905,514 ) Year ended December 31, 2021 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 65,827,118 $ (14,218,054 ) Soybean futures contracts 27,370,674 (12,439,375 ) Sugar futures contracts 6,223,228 (408,983 ) Wheat futures contracts 18,418,461 (2,678,459 ) Total commodity futures contracts $ 117,839,481 $ (29,744,871 ) Year ended December 31, 2020 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 5,882,216 $ 19,371,125 Soybean futures contracts 14,404,714 14,192,330 Sugar futures contracts (656,937 ) 1,060,274 Wheat futures contracts 5,461,905 669,686 Total commodity futures contracts $ 25,091,898 $ 35,293,415 Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $653.8 million in 2022 2021 2020 |
Teucrium Wheat Fund [Member] | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 5 - Derivative Instruments and Hedging Activities In the normal course of business, the Fund utilizes derivative contracts in connection with its proprietary trading activities. Investments in derivative contracts are subject to additional risks that can result in a loss of all or part of an investment. The Fund’s derivative activities and exposure to derivative contracts are classified by the following primary underlying risks: interest rate, credit, commodity price, and equity price risks. In addition to its primary underlying risks, the Fund is also subject to additional counterparty risk due to inability of its counterparties to meet the terms of their contracts. For the years ended December 31, 2022 2021 Futures Contracts The Fund is subject to commodity price risk in the normal course of pursuing its investment objectives. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. The purchase and sale of futures contracts requires margin deposits with an FCM. Subsequent payments (variation margin) are made or received by the Fund each day, depending on the daily fluctuations in the value of the contract, and are recorded as unrealized gains or losses by the Fund. Futures contracts may The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other equity deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in FASB ASU No. 2011 11 210 2013 01 210 The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCMs, Marex and StoneX as of December 31, 2022 2021 not 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 Price Wheat futures contracts $ 3,160,732 $ - $ 3,160,732 $ 3,160,732 $ - $ - 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 Price Wheat futures contracts $ 26,380,838 $ - $ 26,380,838 $ 3,160,732 $ 23,220,106 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 2021 (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 Wheat futures contracts $ 3,714,672 $ - $ 3,714,672 $ 654,969 $ 213,708 $ 2,845,995 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2021 (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 Wheat futures contracts $ 654,969 $ - $ 654,969 $ 654,969 $ - $ - The following is a summary of realized and net change in unrealized gains (losses) of the derivative instruments utilized by the Fund: Year ended December 31, 2022 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ (81,457,408 ) $ (26,279,809 ) Year ended December 31, 2021 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ 18,418,461 $ (2,678,459 ) Year ended December 31, 2020 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ 5,461,905 $ 669,686 Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $345.8 million in 2022 2021 2020 |
Note 6 - Financial Highlights_4
Note 6 - Financial Highlights - Teucrium Wheat Fund | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Wheat Fund [Member] | |
Notes to Financial Statements | |
Investment Company, Financial Highlights [Text Block] | Note 6 - Financial Highlights The following table presents per share performance data and other supplemental financial data for the years ended December 31, 2022, 2021 2020 Year ended Year ended Year ended December 31, 2022 December 31, 2021 December 31, 2020 Per Share Operation Performance Net asset value at beginning of period $ 7.38 $ 6.16 $ 5.84 Income (loss) from investment operations: Investment income 0.15 0.01 0.04 Net realized and unrealized gain on commodity futures contracts 0.63 1.34 0.44 Total expenses, net (0.17 ) (0.13 ) (0.16 ) Net increase in net asset value 0.61 1.22 0.32 Net asset value at end of period $ 7.99 $ 7.38 $ 6.16 Total Return 8.23 % 19.84 % 5.48 % Ratios to Average Net Assets (Annualized) Total expenses 1.90 % 2.27 % 2.98 % Total expenses, net 1.78 % 1.89 % 2.84 % Net investment loss (0.20 )% (1.73 )% (2.09 )% The financial highlights per share data are calculated consistent with the methodology used to calculate asset-based fees and expenses. |
Note 7 - Organizational and O_4
Note 7 - Organizational and Offering Costs - Teucrium Wheat Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Organizational and Offering Costs [Text Block] | Note 6 Expenses incurred in organizing of the Trust and the initial offering of the shares, including applicable SEC registration fees, were borne directly by the Sponsor for the Funds and will be borne directly by the Sponsor for any series of the Trust which is not not |
Teucrium Wheat Fund [Member] | |
Notes to Financial Statements | |
Organizational and Offering Costs [Text Block] | Note 7 - Organizational and Offering Costs Expenses incurred in organizing of the Trust and the initial offering of the Shares of the Fund, including applicable SEC registration fees, were borne directly by the Sponsor. The Fund is not |
Note 8 - Subsequent Events - _4
Note 8 - Subsequent Events - Teucrium Wheat Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Management has evaluated the financial statements for the year-ended December 31, 2022 no CORN: Nothing to report. SOYB: The total net assets of the Fund decreased by $15,131,868, or 26%, for the period December 31, 2022 February 28, 2023. CANE: Nothing to report. WEAT: The total net assets of the Fund decreased by $46,724,300, or 20%, for the period December 31, 2022 February 28, 2023. TAGS: Nothing to report. DEFI: The total net assets of the Fund increased by $431,977, or 40%, for the period December 31, 2022 February 28, 2023. |
Teucrium Wheat Fund [Member] | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 - Subsequent Events Management has evaluated the financial statements for the year-ended December 31, 2022 no The total net assets of the Fund decreased by $46,724,300, or 20%, for the period December 31, 2022 February 28, 2023 |
Schedule of Investments - Teu_5
Schedule of Investments - Teucrium Agricultural Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Investment Holdings, Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS December 31, 2022 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 28,382,122 $ 28,382,122 6.10 % 28,382,122 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 160,258,295 160,258,295 34.44 160,258,295 Total money market funds $ 188,640,417 $ 188,640,417 40.54 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 1.07 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 14,877,488 14,968,886 3.22 15,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % 4,959,225 4,989,644 1.07 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 9,935,000 9,972,500 2.14 10,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 9,899,472 9,943,862 2.14 10,000,000 Crown Castle Inc. January 10, 2023 4.877 % 7,443,000 7,491,000 1.61 7,500,000 Crown Castle Inc. January 12, 2023 4.765 % 12,449,410 12,482,050 2.68 12,500,000 Entergy Corporation January 4, 2023 4.311 % 9,926,808 9,996,460 2.15 10,000,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 12,400,060 12,486,207 2.68 12,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 7,418,417 7,484,417 1.61 7,500,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 2.15 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 5,461,843 5,491,823 1.18 5,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 5,263,032 5,298,631 1.14 5,300,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 1.61 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 4,959,561 4,977,688 1.07 5,000,000 Humana Inc. January 9, 2023 4.670 % 7,448,250 7,492,333 1.61 7,500,000 Hyundai Capital America January 10, 2023 4.000 % 9,903,645 9,990,145 2.15 10,000,000 ITT Inc. January 19, 2023 4.475 % 4,965,088 4,988,975 1.07 5,000,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 1.07 5,000,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 1.07 5,000,000 Oracle Corporation January 17, 2023 4.361 % 9,931,919 9,980,889 2.14 10,000,000 V.F. Corporation January 17, 2023 4.364 % 4,959,390 4,990,444 1.07 5,000,000 V.F. Corporation February 2, 2023 4.669 % 6,456,811 6,473,422 1.39 6,500,000 VW Credit, Inc. January 19, 2023 4.434 % 7,448,106 7,483,613 1.61 7,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 4,970,188 4,971,512 1.07 5,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 4,959,098 4,961,736 1.07 5,000,000 Total Commercial Paper $ 198,351,250 $ 199,360,060 42.84 % Total Cash Equivalents $ 388,000,477 83.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 0.34 % $ 45,779,763 United States soybean futures contracts CBOT soybean futures MAR23 268 642,912 0.14 20,421,600 CBOT soybean futures MAY23 229 807,218 0.17 17,518,500 CBOT soybean futures NOV23 289 1,070,240 0.23 20,472,038 United States sugar futures contracts ICE sugar futures MAY23 401 356,963 0.08 8,407,526 ICE sugar futures JUL23 362 554,366 0.12 7,289,811 United States wheat futures contracts CBOT wheat futures JUL23 1,711 3,160,732 0.68 68,696,650 United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 24,979 0.01 496,050 CME Bitcoin futures FEB23 7 4,173 0.00 575,575 Total commodity and cryptocurrency futures contracts $ 8,207,381 1.77 % $ 189,657,513 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.16 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 0.48 53,440,625 United States sugar futures contracts ICE sugar futures MAR24 427 85,128 0.02 8,565,278 United States wheat futures contracts CBOT wheat futures MAY23 2,005 7,079,231 1.52 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 4.15 80,220,450 Total commodity and cryptocurrency futures contracts $ 29,433,069 6.33 % $ 275,693,541 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 9,885,980 2.12 % 367,555 Teucrium Soybean Fund 9,921,042 2.13 348,075 Teucrium Sugar Fund 9,745,653 2.09 1,024,284 Teucrium Wheat Fund 10,020,023 2.15 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 8.49 % *The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. The accompanying notes are an integral part of these financial statements. TEUCRIUM COMMODITY TRUST COMBINED SCHEDULE OF INVESTMENTS December 31, 2021 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 30,443,449 $ 30,443,449 11.52 % 30,443,449 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,525,384 2,525,384 0.96 2,525,384 Total money market funds $ 32,968,833 $ 32,968,833 12.48 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 9,996,324 $ 9,998,489 3.78 % 10,000,000 Albemarle Corporation January 11, 2022 0.200 % 4,998,834 4,999,722 1.89 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 0.95 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 7,497,300 7,499,867 2.84 7,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 4,998,710 4,999,646 1.89 5,000,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 4,998,000 4,999,889 1.89 5,000,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 9,995,111 9,998,333 3.78 10,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 4,998,800 4,999,956 1.89 5,000,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 9,996,061 9,999,444 3.78 10,000,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 4,997,876 4,999,268 1.89 5,000,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 4,997,328 4,997,918 1.89 5,000,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 1.89 5,000,000 Jabil Inc. January 20, 2022 0.250 % 2,499,219 2,499,670 0.95 2,500,000 Jabil Inc. February 8, 2022 0.300 % 7,496,063 7,497,625 2.84 7,500,000 Jabil Inc. February 25, 2022 0.310 % 4,996,900 4,997,632 1.89 5,000,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 1.89 5,000,000 Viatris Inc. February 11, 2022 0.300 % 4,996,625 4,998,292 1.89 5,000,000 Viatris Inc. March 1, 2022 0.310 % 4,996,986 4,997,460 1.89 5,000,000 Viatris Inc. January 21, 2022 0.200 % 4,998,584 4,999,444 1.89 5,000,000 WGL Holdings, Inc. January 12, 2022 0.220 % 4,998,686 4,999,664 1.89 5,000,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 1.89 5,000,000 Total Commercial Paper $ 119,951,019 $ 119,980,366 45.38 % Total Cash Equivalents $ 152,949,199 57.86 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 1.43 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.07 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 0.75 42,533,400 United States soybean futures contracts CBOT soybean futures MAR22 234 591,547 0.22 15,669,225 CBOT soybean futures MAY22 199 1,008,504 0.38 13,422,550 CBOT soybean futures NOV22 250 1,084,800 0.41 15,865,625 United States sugar futures contracts ICE sugar futures MAY22 381 225,299 0.09 7,936,992 ICE sugar futures MAR23 392 853,927 0.32 8,091,507 United States wheat futures contracts CBOT wheat futures MAY22 687 1,809,796 0.68 26,595,488 CBOT wheat futures DEC22 686 1,904,876 0.72 26,411,000 Total commodity futures contracts $ 13,415,301 5.07 % $ 234,855,437 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.03 % $ 6,817,541 United States wheat futures contracts CBOT wheat futures JUL22 593 654,969 0.25 22,667,425 Total commodity futures contracts $ 735,475 0.28 % $ 29,484,966 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,537,560 1.34 % 163,930 Teucrium Soybean Fund 3,538,006 1.34 155,374 Teucrium Sugar Fund 3,591,878 1.36 389,317 Teucrium Wheat Fund 3,510,575 1.33 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 5.37 % *The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. The accompanying notes are an integral part of these financial statements. |
Teucrium Agricultural Fund [Member] | |
Notes to Financial Statements | |
Investment Holdings, Schedule of Investments [Text Block] | SCHEDULE OF INVESTMENTS December 31, 2022 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Exchange-traded funds Teucrium Corn Fund $ 9,885,980 24.97 % 367,555 Teucrium Soybean Fund 9,921,042 25.07 348,075 Teucrium Sugar Fund 9,745,653 24.63 1,024,284 Teucrium Wheat Fund 10,020,023 25.32 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 99.99 % Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 4,716 $ 4,716 0.01 % 4,716 The accompanying notes are an integral part of these financial statements. TEUCRIUM AGRICULTURAL FUND SCHEDULE OF INVESTMENTS December 31, 2021 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Exchange-traded funds Teucrium Corn Fund $ 3,537,560 24.95 % 163,930 Teucrium Soybean Fund 3,538,006 24.96 155,374 Teucrium Sugar Fund 3,591,878 25.33 389,317 Teucrium Wheat Fund 3,510,575 24.76 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 100.00 % Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 4,801 $ 4,801 0.03 % 4,801 The accompanying notes are an integral part of these financial statements. |
Note 1 - Organization and Ope_6
Note 1 - Organization and Operation - Teucrium Agricultural Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009, On June 7, 2010, 1 June 8, 2010, June 9, 2010. April 7, 2022. On June 13, 2011, 1 September 16, 2011, September 19, 2011, April 7, 2022. March 9, 2022. On February 10, 2012, 1 March 27, 2012, March 28, 2012. April 7, 2022. On September 14, 2022, 1 September 15, 2022, September 16, 2022. Teucrium Trading, LLC is the sponsor (“Sponsor”) of the Trust. The Sponsor is a member of the National Futures Association (the “NFA”) and became a commodity pool operator (“CPO”) registered with the Commodity Futures Trading Commission (the “CFTC”) effective November 10, 2009. September 8, 2017. The specific investment objective of each Fund and information regarding the organization and operation of each Fund are included in each Fund’s financial statements and accompanying notes, as well as in other sections of this Form 10 Subject to the terms of the Trust Agreement, Teucrium Trading, LLC in its capacity as the Sponsor (“Sponsor”) may no |
Teucrium Agricultural Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Agricultural Fund (referred to herein as “TAGS” or the “Fund”) is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009. March 29, 2011 July 28, 2009. On April 22, 2011, February 10, 2012, 1 March 28, 2012, March 28, 2012 December 31, 2011, April 7, 2022. The investment objective of the TAGS is to have the daily changes in percentage terms of the NAV of its Shares reflect the daily changes in percentage terms of a weighted average (the “Underlying Fund Average”) of the NAVs per share of four other commodity pools that are series of the Trust and are sponsored by the Sponsor: the Teucrium Corn Fund, the Teucrium Wheat Fund, the Teucrium Soybean Fund and the Teucrium Sugar Fund (collectively, the “Underlying Funds”). The Underlying Fund Average will have a weighting of 25% to each Underlying Fund, and the Fund’s assets will be rebalanced, generally on a daily basis, to maintain the approximate 25% allocation to each Underlying Fund: TAGS Benchmark Underlying Fund Weighting CORN 25% SOYB 25% CANE 25% WEAT 25% The Fund seeks to provide daily investment results that reflect the combined daily performance of the Underlying Funds. Under normal market conditions, the Fund seeks to achieve its investment objective generally by investing equally in shares of each Underlying Fund and, to a lesser extent, cash equivalents. The Fund’s investments in shares of Underlying Funds is rebalanced, generally on a daily basis, in order to maintain approximately a 25% allocation of the Fund’s assets to each Underlying Fund. (This weighted average is referred to herein as the Underlying Fund’s “Benchmark,” the Futures Contracts that at any given time make up an Underlying Fund’s Benchmark are referred to herein as the Underlying Fund’s “Benchmark Component Futures Contracts,” and the commodity specified in the Underlying Fund’s name is referred to herein as its “Specified Commodity.”) Specifically, the Teucrium Corn Fund’s Benchmark is: ( 1 second 2 third 3 December third 1 second 2 third 3 December third 1 second 2 third 3 November third August September not 1 second No. 11 2 third No. 11 3 No. 11 March third While the Fund expects to maintain substantially all of its assets in shares of the Underlying Funds at all times, the Fund may Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor, may no |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Corn Fund (referred to herein as “CORN,” or the “Fund”) is a commodity pool that is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust formed on September 11, 2009. The investment objective of CORN is to have the daily changes in the NAV of the Fund’s Shares reflect the daily changes in the corn market for future delivery as measured by the Benchmark. The Benchmark is a weighted average of the closing settlement prices for three futures contracts for corn (“Corn Futures Contracts”) that are traded on the Chicago Board of Trade (“CBOT”): CORN Benchmark CBOT Corn Futures Contract Weighting Second to expire 35% Third to expire 30% December following the third to expire 35% The Fund commenced investment operations on June 9, 2010 December 31. On June 7, 2010, 1 June 8, 2010, June 9, 2010. April 7, 2022. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor , may no |
Teucrium Wheat Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Teucrium Wheat Fund (referred to herein as “WEAT” or the “Fund”) is a commodity pool that is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust formed on September 11, 2009. The investment objective of WEAT is to have the daily changes in the NAV of the Fund’s Shares reflect the daily changes in the wheat market for future delivery as measured by the Benchmark. The Benchmark is a weighted average of the closing settlement prices for three futures contracts for wheat (“Wheat Futures Contracts”) that are traded on the Chicago Board of Trade (“CBOT”): WEAT Benchmark CBOT Wheat Futures Contract Weighting Second to expire 35% Third to expire 30% December following the third to expire 35% The Fund commenced investment operations on September 19, 2011 December 31. On June 13, 2011, 1 September 19, 2011, 100,000shares September 19, 2011 December 31, 2010, March 9, 2022. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor, may no |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Soybean Fund (referred to herein as “SOYB” or the “Fund”) is a commodity pool that is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust formed on September 11, 2009. The investment objective of SOYB is to have the daily changes in the NAV of the Fund’s Shares reflect the daily changes in the soybean market for future delivery as measured by the Benchmark. The Benchmark is a weighted average of the closing settlement prices for three futures contracts for soybeans (“Soybean Futures Contracts”) that are traded on the Chicago Board of Trade (“CBOT”): SOYB Benchmark CBOT Soybeans Futures Contract Weighting Second to expire (excluding August & September) 35% Third to expire (excluding August & September) 30% Expiring in the November following the expiration of the third to expire contract 35% The Fund commenced investment operations on September 19, 2011 December 31. On June 13, 2011, 1 September 16, 2011, September 19, 2011, April 7, 2022. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor, may no |
Teucrium Sugar Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Teucrium Sugar Fund (referred to herein as “CANE” or the “Fund”) is a commodity pool that is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust formed on September 11, 2009. The investment objective of CANE is to have the daily changes in the NAV of the Fund’s Shares reflect the daily changes in the sugar market for future delivery as measured by the Benchmark. The Benchmark is a weighted average of the closing settlement prices for three futures contracts for No. 11 CANE Benchmark ICE Sugar Futures Contract Weighting Second to expire 35% Third to expire 30% Expiring in the March following the expiration of the third to expire contract 35% The Fund commenced investment operations on September 19, 2011 December 31. On June 13, 2011, 1 September 16, 2011, September 19, 2011, April 7, 2022. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor, may no |
Note 2 - Principal Contracts _6
Note 2 - Principal Contracts and Agreements - Teucrium Agricultural Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 The Sponsor employs U.S. Bank N.A. as the Custodian for the Funds. The principal business address for U.S. Bank N.A is 1555 302, 53212. 615 53202. For custody services, the Funds will pay to U.S. Bank N.A. 0.0075% of average gross assets up to $1 $1 first $500 $500 $2 $3 The Sponsor employs Foreside Fund Services, LLC (“Foreside” or the “Distributor”) as the Distributor for the Funds. The Distribution Services Agreement among the Distributor and the Sponsor calls for the Distributor to work with the Custodian in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising materials. The Distributor and the Sponsor have also entered into a Securities Activities and Service Agreement (the “SASA”) under which certain employees and officers of the Sponsor are licensed as registered representatives or registered principals of the Distributor, under Financial Industry Regulatory Authority (“FINRA”) rules. For its services as the Distributor, Foreside receives a fee of 0.01% of the Fund’s average daily net assets and an aggregate annual fee of $100,000 for all Teucrium Funds, along with certain expense reimbursements. For its services under the SASA, Foreside receives a fee of $5,000 per registered representative and $1,000 per registered location. These services are recorded in distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below. Pursuant to a Consulting Services Agreement, Foreside Consulting Services, LLC, performs certain consulting support services for the Trust’s Sponsor. Additionally, Foreside Distributors, LLC performs certain distribution consulting services pursuant to a Distribution Consulting Agreement with the Trust’s Sponsor. Marex Capital Markets, Inc. (“Marex”), StoneX Financial Inc. (“StoneX”) and Phillip Capital Inc. (“Phillip Capital”) serve as the Funds’ clearing brokers to execute and clear futures contracts and provide other brokerage-related services. Marex, StoneX and Phillip Capital are each registered as futures commission merchants (“FCM”) with the U.S. CFTC and are members of the NFA. The clearing brokers are registered as broker-dealers with the SEC and are each a member of FINRA. Marex, StoneX and Phillip Capital are each clearing members of ICE Futures U.S., Inc., Chicago Board of Trade, Chicago Mercantile Exchange, New York Mercantile Exchange, and all other major United States commodity exchanges. For Corn, Soybean, Sugar and Wheat Futures Contracts, Marex is paid $11.00 per round turn. StoneX is paid $2.50 per round turn exclusive of pass-through fees for the exchange and the NFA. Additionally, if the monthly commissions paid by each Fund does not Brokerage Commissions The sole Trustee of the Trust is Wilmington Trust Company, a Delaware banking corporation. The Trustee will accept service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act. For its services, the Trustee receives an annual fee of $3,300 from the Trust. These services are recorded in business permits and licenses fees on the combined statements of operations. A summary of these expenses is included below. The Sponsor employs Thales Capital Partners LLC (“Thales”) for distribution and solicitation-related services. Thales is registered as a Broker-Dealer with the SEC and a member of Financial Industry Regulatory Authority (FINRA) and SIPC. Thales receives a quarterly fee of $18,750 or 0.10% of new assets raised in referred accounts for distribution and solicitation-related services. This fee based on new assets raised is determined by an agreed upon level of assets at the time of signing the contract. These services are recorded in distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below: Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 410,660 $ 363,000 $ 369,293 Amount of Custody Services Waived $ 42,625 $ 120,850 $ 71,342 Amount Recognized for Distribution Services $ 200,313 $ 186,531 $ 180,024 Amount of Distribution Services Waived $ 48,593 $ 94,724 $ 68,140 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 550 $ 991 $ 2,215 Amount Recognized for Thales $ 278,958 $ 297,222 $ 116,901 Amount of Thales Waived $ 106,944 $ 153,198 $ 57,988 |
Teucrium Agricultural Fund [Member] | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 The Sponsor employs U.S. Bank N.A. as the Custodian for the Funds. The principal business address for U.S. Bank N.A is 1555 302, 53212. 615 53202. For custody services, the Funds will pay to U.S. Bank N.A. 0.0075% of average gross assets up to $1 $1 first $500 $500 $2 $3 The Sponsor employs Foreside Fund Services, LLC (“Foreside” or the “Distributor”) as the Distributor for the Funds. The Distribution Services Agreement among the Distributor and the Sponsor calls for the Distributor to work with the Custodian in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising materials. The Distributor and the Sponsor have also entered into a Securities Activities and Service Agreement (the “SASA”) under which certain employees and officers of the Sponsor are licensed as registered representatives or registered principals of the Distributor, under Financial Industry Regulatory Authority (“FINRA”) rules. For its services as the Distributor, Foreside receives a fee of 0.01% of the Fund’s average daily net assets and an aggregate annual fee of $100,000 for all Teucrium Funds, along with certain expense reimbursements. For its services under the SASA, Foreside receives a fee of $5,000 per registered representative and $1,000 per registered location. These services are recorded in distribution and marketing fees on the statements of operations. A summary of these expenses is included below. Pursuant to a Consulting Services Agreement, Foreside Consulting Services, LLC, performs certain consulting support services for the Trust’s Sponsor. Additionally, Foreside Distributors, LLC performs certain distribution consulting services pursuant to a Distribution Consulting Agreement with the Trust’s Sponsor. Marex Capital Markets, Inc. (“Marex”) and StoneX Financial Inc. (“StoneX”) serve as the Funds’ clearing brokers to execute and provide other brokerage-related services. Marex and StoneX are each registered as futures commission merchants (“FCM”) with the U.S. CFTC and are members of the NFA. The clearing brokers are registered as broker-dealers with the SEC and are each a member of FINRA. Marex and StoneX are each clearing members of ICE Futures U.S., Inc., Chicago Board of Trade, Chicago Mercantile Exchange, New York Mercantile Exchange, and all other major United States commodity exchanges. For Corn, Soybean, Sugar, and Wheat Futures Contracts Marex is paid $11.00 per round turn. StoneX is paid $2.50 per round turn exclusive of pass-through fees for the exchange and the NFA. Additionally, if the monthly commissions paid by each Fund does not The sole Trustee of the Trust is Wilmington Trust Company, a Delaware banking corporation. The Trustee will accept service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act. For its services, the Trustee receives an annual fee of $3,300 from the Trust. These services are recorded in business permits and licenses fees on the statements of operations. A summary of these expenses is included below. The Sponsor employs Thales Capital Partners LLC (“Thales”) for distribution and solicitation-related services. Thales is registered as a Broker-Dealer with the SEC and a member of FINRA and the Securities Investor Protection Corporation (“SIPC”). Thales receives a quarterly fee of the higher of $18,750 or 0.10% of new assets raised in referred accounts for distribution and solicitation-related services. This fee based on new assets raised is determined by an agreed upon level of assets at the time of signing the contract. These services are recorded in distribution and marketing fees on the statements of operations. A summary of these expenses is included below: Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 19,180 $ 7,579 $ 1,874 Amount of Custody Services Waived $ 19,180 $ 7,199 $ 1,702 Amount Recognized for Distribution Services $ 9,264 $ 3,860 $ 851 Amount of Distribution Services Waived $ 9,264 $ 3,702 $ 790 Amount Recognized for Wilmington Trust $ 550 $ 108 $ 11 Amount of Wilmington Trust Waived $ - $ 108 $ - Amount Recognized for Thales $ 12,548 $ 5,350 $ 533 Amount of Thales Waived $ 8,843 $ 5,350 $ 365 |
Note 3 - Summary of Significa_6
Note 3 - Summary of Significant Accounting Policies - Teucrium Agricultural Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared on a combined basis in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification and include the accounts of the Trust, CORN, CANE, SOYB, WEAT, TAGS and DEFI. Refer to the accompanying separate financial statements for each Fund for more detailed information. For the periods represented by the financial statements herein the operations of the Trust contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI except for eliminations for TAGS as explained below for the months during which each Fund was in operation. Given the investment objective of TAGS as described in Note 1 Revenue Recognition Commodity and Cryptocurrency futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. The Funds seek to earn interest on their assets denominated in U.S. dollars on deposit with the Futures Commission Merchant. In addition, the Funds seek to earn interest on funds held at the custodian and at other financial institutions at prevailing market rates for such investments. The Sponsor may The Sponsor may Brokerage Commissions Beginning on August 21, 2019, December 31, 2022 2021 2020 CORN SOYB CANE WEAT TAGS DEFI TRUST Year Ending December 31, 2022 $ 217,050 $ 27,011 $ 33,469 $ 387,999 $ - $ 2,217 $ 667,746 Year Ending December 31, 2021 $ 141,674 $ 29,889 $ 21,123 $ 47,448 $ - $ - $ 240,134 Year Ending December 31, 2020 $ 149,619 $ 35,880 $ 14,681 $ 40,741 $ 1 $ - $ 240,922 Income Taxes The Trust is organized and will be operated as a Delaware statutory trust. For federal income tax purposes, each Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Funds are required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Funds recognize interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized for the years ending December 31, 2022 2021 2020 2019 The Funds may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 Each Fund receives or pays the proceeds from shares sold or redeemed within three There are a minimum number of baskets and associated shares specified for each Fund in the Fund’s respective prospectus, as amended from time to time. Once the minimum number of baskets is reached, there can be no CORN: 50,000 shares representing 2 baskets SOYB: 50,000 shares representing 2 baskets CANE: 50,000 shares representing 2 baskets WEAT: 50,000 shares representing 2 baskets TAGS: 50,000 shares representing 4 baskets DEFI: 50,000 shares representing 5 baskets Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 188,640,417 $ 32,968,833 $ 61,121,678 Demand Deposit Savings Accounts 46,061,819 99,262,744 95,809,411 Commercial Paper 199,360,060 119,980,366 152,447,206 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 434,062,296 $ 252,211,943 $ 309,378,295 Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement, which represents the amount payable for contracts purchased but not Due from/to Broker The amount recorded by the Trust for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one Payable/Receivable for Securities Purchased/Sold Due from/to broker for investments in securities are securities transactions pending settlement. The Trust and the Funds are subject to credit risk to the extent any broker with whom it conducts business is unable to fulfill contractual obligations on its behalf. The management of the Trust and the Funds monitors the financial condition of such brokers and does not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Fund’s sponsor, Teucrium Trading, LLC (the “Sponsor”), is responsible for investing the assets of the Funds in accordance with the objectives and policies of each Fund. In addition, the Sponsor arranges for one third not no .94% The Agricultural Funds generally pay for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, or any other regulatory agency in connection with the offer and sale of subsequent Shares, after its initial registration, and all legal, accounting, printing and other expenses associated therewith. The Funds also pay the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 2,721,842 $ 2,321,539 $ 2,279,672 Waived Related Party Transactions $ 518,599 $ 1,052,715 $ 775,432 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated, and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value - Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Trust uses various valuation approaches. In accordance with U.S. GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Trust. Unobservable inputs reflect the Trust’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may not 1 2 3 On December 31, 2022 2021 no 1 2 For the quarter ended June 30, 2021, Sep21 Dec21 2 1 September 30, 2021. For the quarter ended March 31, 2021, Jul21 Sep21 Dec21 Jul21 Nov21 2 1 June 30, 2021, Sep21 Dec21 2 For the quarter ending June 30, 2020, DEC21 not, 2 DEC21 June 30, 2020. 1 September 30, 2020. The Funds and the Trust record their derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Investments in the securities of the Underlying Funds are freely traded and listed on the NYSE Arca. These investments are valued at the NAV of the Underlying Fund as of the valuation date as calculated by the administrator based on the exchange-quoted prices of the commodity futures contracts held by the Underlying Fund. Expenses Expenses are recorded using the accrual method of accounting. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: March 31, 2021; not The FASB issued ASU 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Teucrium Agricultural Fund [Member] | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification. Revenue Recognition Investment transactions are accounted for on a trade-date basis. All such transactions are recorded on the identified cost basis and marked to market daily. Unrealized appreciation or depreciation on investments are reflected in the statements of assets and liabilities as the difference between the original amount and the fair market value as of the last business day of the year or as of the last date of the financial statements. Brokerage Commissions Brokerage commissions are accrued on the trade date and on a full-turn basis. Income Taxes For federal income tax purposes, the Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Fund is required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Fund recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the years ended December 31, 2022 2021 2020 2019 The Fund may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 The Fund will receive the proceeds from shares sold or will pay for redeemed shares within three As outlined in the most recent Form S- 1 no Allocation of Shareholder Income and Losses Profit or loss is allocated among the shareholders of the Fund in proportion to the number of shares each shareholder holds as of the close of each month. Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 may, December 31, 2022 December 31, 2021 Payable/Receivable for Securities Purchased/Sold Due from/to broker for investments in securities are securities transactions pending settlement. The Fund is subject to credit risk to the extent any broker with whom it conducts business is unable to fulfill contractual obligations on its behalf. The management of the Fund monitors the financial condition of such brokers and does not Calculation of Net Asset Value The Fund’s NAV is calculated by: · Taking the current market value of its total assets and · Subtracting any liabilities The administrator, Global Fund Services, will calculate the NAV of the Fund once each trading day. It will calculate the NAV as of the earlier of the close of the New York Stock Exchange or 4:00 4:15 For purposes of the determining the Fund’s NAV, the Fund’s investments in the Underlying Funds will be valued based on the Underlying Funds’ NAVs. In turn, in determining the value of the Futures Contracts held by the Underlying Funds, the Administrator will use the closing price on the exchange on which they are traded. The Administrator will determine the value of all other Fund and Underlying Fund investments as of the earlier of the close of the New York Stock Exchange or 4:00 may third not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Sponsor is responsible for investing the assets of the Fund in accordance with the objectives and policies of the Fund. In addition, the Sponsor arranges for one third not The Fund generally pays for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, or any other regulatory agency in connection with the offer and sale of subsequent Shares after its initial registration and all legal, accounting, printing and other expenses associated therewith. The Fund also pays its portion of the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Funds based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 125,972 $ 51,117 $ 10,906 Waived Related Party Transactions $ 86,496 $ 46,063 $ 9,518 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no TAGS Year Ended December 31, 2022 $ 262,928 Year Ended December 31, 2021 $ 105,722 Year Ended December 31, 2020 $ 39,833 Expenses Expenses are recorded using the accrual method of accounting. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: December 15, 2020. March 31, 2021; not The FASB issued 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not Fair Value - Definition and Hierarchy In accordance with GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Fund uses various valuation approaches. In accordance with GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may 1 2 3 The determination is made as of the settlement of the underlying futures contracts on the last day of trading for the reporting period. In making the determination of a Level 1 2 Investments in the financial instruments of the Underlying Funds are freely tradable and listed on the NYSE Arca. These investments are valued at the NAV of the Underlying Fund as of the valuation date as calculated by the administrator based on the exchange-quoted prices of the commodity futures contracts held by the Underlying Funds. Net Income (Loss) per Share Net income (loss) per Share is the difference between the NAV per unit at the beginning of each period and at the end of each period. The weighted average number of Shares outstanding was computed for purposes of disclosing net income (loss) per weighted average Share. The weighted average Shares are equal to the number of Shares outstanding at the end of the period, adjusted proportionately for Shares created or redeemed based on the amount of time the Shares were outstanding during such period. |
Note 4 - Fair Value Measureme_6
Note 4 - Fair Value Measurements - Teucrium Agricultural Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 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. December 31, 2022 December 31, 2021 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 388,000,477 $ - $ - $ 388,000,477 Commodity and Cryptocurrency Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Soybean futures contracts 2,520,370 - - 2,520,370 Sugar futures contracts 911,329 - - 911,329 Wheat futures contracts 3,160,732 - - 3,160,732 Bitcoin futures contracts 29,152 - - 29,152 Total $ 396,207,858 $ - $ - $ 396,207,858 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Sugar futures contracts 85,128 - - 85,128 Wheat futures contracts 26,380,838 - - 26,380,838 Total $ 29,433,069 $ - $ - $ 29,433,069 December 31, 2021 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 152,949,199 $ - $ - $ 152,949,199 Commodity Futures Contracts Corn futures contracts 5,936,552 - - 5,936,552 Soybean futures contracts 2,684,851 - - 2,684,851 Sugar futures contracts 1,079,226 - - 1,079,226 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 166,364,500 $ - $ - $ 166,364,500 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Commodity Futures Contracts Sugar futures contracts $ 80,506 $ - $ - $ 80,506 Wheat futures contracts 654,969 - - 654,969 Total $ 735,475 $ - $ - $ 735,475 For the years ended December 31, 2022 2021 not 1 2 See the Fair Value - Definition and Hierarchy 4 |
Teucrium Agricultural Fund [Member] | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 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. December 31, 2022 December 31, 2021 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Exchange Traded Funds $ 39,572,698 $ - $ - $ 39,572,698 Cash Equivalents 4,716 - - 4,716 Total $ 39,577,414 $ - $ - $ 39,577,414 December 31, 2021 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Exchange Traded Funds $ 14,178,019 $ - $ - $ 14,178,019 Cash Equivalents 4,801 - - 4,801 Total $ 14,182,820 $ - $ - $ 14,182,820 For the years ended December 31, 2022 December 31, 2021 not See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Financial Highlights -
Note 5 - Financial Highlights - Teucrium Agricultural Fund | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Agricultural Fund [Member] | |
Notes to Financial Statements | |
Investment Company, Financial Highlights [Text Block] | Note 5 The following table presents per share performance data and other supplemental financial data for the years ended December 31, 2022 2021 2020 Year ended Year ended Year ended December 31, 2022 December 31, 2021 December 31, 2020 Per Share Operation Performance Net asset value at beginning of period $ 27.01 $ 21.12 $ 19.72 Income (loss) from investment operations: Net realized and unrealized gain on investment transactions 4.38 5.93 1.44 Total expenses, net (0.04 ) (0.04 ) (0.04 ) Net increase in net asset value 4.34 5.89 1.40 Net asset value at end of period $ 31.35 $ 27.01 $ 21.12 Total Return 16.06 % 27.85 % 7.14 % Ratios to Average Net Assets (Annualized) Total expenses 0.84 % 1.54 % 3.31 % Total expenses, net 0.14 % 0.17 % 0.20 % Net investment loss (0.13 )% (0.17 )% (0.20 )% The financial highlights per share data are calculated consistent with the methodology used to calculate asset-based fees and expenses. |
Note 6 - Organizational and O_2
Note 6 - Organizational and Offering Costs - Teucrium Agricultural Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Organizational and Offering Costs [Text Block] | Note 6 Expenses incurred in organizing of the Trust and the initial offering of the shares, including applicable SEC registration fees, were borne directly by the Sponsor for the Funds and will be borne directly by the Sponsor for any series of the Trust which is not not |
Teucrium Agricultural Fund [Member] | |
Notes to Financial Statements | |
Organizational and Offering Costs [Text Block] | Note 6 Expenses incurred in organizing of the Trust and the initial offering of the Shares of the Fund, including applicable SEC registration fees, were borne directly by the Sponsor. The Fund is not |
Note 7 - Subsequent Events - Te
Note 7 - Subsequent Events - Teucrium Agricultural Fund | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Management has evaluated the financial statements for the year-ended December 31, 2022 no CORN: Nothing to report. SOYB: The total net assets of the Fund decreased by $15,131,868, or 26%, for the period December 31, 2022 February 28, 2023. CANE: Nothing to report. WEAT: The total net assets of the Fund decreased by $46,724,300, or 20%, for the period December 31, 2022 February 28, 2023. TAGS: Nothing to report. DEFI: The total net assets of the Fund increased by $431,977, or 40%, for the period December 31, 2022 February 28, 2023. |
Teucrium Agricultural Fund [Member] | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 7 Management has evaluated the financial statements for the year-ended December 31, 2022 no Nothing to report. [placeholder] |
Schedule of Investments - Hashd
Schedule of Investments - Hashdex Bitcoin Futures ETF | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Investment Holdings, Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS December 31, 2022 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 28,382,122 $ 28,382,122 6.10 % 28,382,122 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 160,258,295 160,258,295 34.44 160,258,295 Total money market funds $ 188,640,417 $ 188,640,417 40.54 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 1.07 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 14,877,488 14,968,886 3.22 15,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % 4,959,225 4,989,644 1.07 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 9,935,000 9,972,500 2.14 10,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 9,899,472 9,943,862 2.14 10,000,000 Crown Castle Inc. January 10, 2023 4.877 % 7,443,000 7,491,000 1.61 7,500,000 Crown Castle Inc. January 12, 2023 4.765 % 12,449,410 12,482,050 2.68 12,500,000 Entergy Corporation January 4, 2023 4.311 % 9,926,808 9,996,460 2.15 10,000,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 12,400,060 12,486,207 2.68 12,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 7,418,417 7,484,417 1.61 7,500,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 2.15 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 5,461,843 5,491,823 1.18 5,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 5,263,032 5,298,631 1.14 5,300,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 1.61 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 4,959,561 4,977,688 1.07 5,000,000 Humana Inc. January 9, 2023 4.670 % 7,448,250 7,492,333 1.61 7,500,000 Hyundai Capital America January 10, 2023 4.000 % 9,903,645 9,990,145 2.15 10,000,000 ITT Inc. January 19, 2023 4.475 % 4,965,088 4,988,975 1.07 5,000,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 1.07 5,000,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 1.07 5,000,000 Oracle Corporation January 17, 2023 4.361 % 9,931,919 9,980,889 2.14 10,000,000 V.F. Corporation January 17, 2023 4.364 % 4,959,390 4,990,444 1.07 5,000,000 V.F. Corporation February 2, 2023 4.669 % 6,456,811 6,473,422 1.39 6,500,000 VW Credit, Inc. January 19, 2023 4.434 % 7,448,106 7,483,613 1.61 7,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 4,970,188 4,971,512 1.07 5,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 4,959,098 4,961,736 1.07 5,000,000 Total Commercial Paper $ 198,351,250 $ 199,360,060 42.84 % Total Cash Equivalents $ 388,000,477 83.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 0.34 % $ 45,779,763 United States soybean futures contracts CBOT soybean futures MAR23 268 642,912 0.14 20,421,600 CBOT soybean futures MAY23 229 807,218 0.17 17,518,500 CBOT soybean futures NOV23 289 1,070,240 0.23 20,472,038 United States sugar futures contracts ICE sugar futures MAY23 401 356,963 0.08 8,407,526 ICE sugar futures JUL23 362 554,366 0.12 7,289,811 United States wheat futures contracts CBOT wheat futures JUL23 1,711 3,160,732 0.68 68,696,650 United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 24,979 0.01 496,050 CME Bitcoin futures FEB23 7 4,173 0.00 575,575 Total commodity and cryptocurrency futures contracts $ 8,207,381 1.77 % $ 189,657,513 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.16 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 0.48 53,440,625 United States sugar futures contracts ICE sugar futures MAR24 427 85,128 0.02 8,565,278 United States wheat futures contracts CBOT wheat futures MAY23 2,005 7,079,231 1.52 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 4.15 80,220,450 Total commodity and cryptocurrency futures contracts $ 29,433,069 6.33 % $ 275,693,541 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 9,885,980 2.12 % 367,555 Teucrium Soybean Fund 9,921,042 2.13 348,075 Teucrium Sugar Fund 9,745,653 2.09 1,024,284 Teucrium Wheat Fund 10,020,023 2.15 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 8.49 % *The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. The accompanying notes are an integral part of these financial statements. TEUCRIUM COMMODITY TRUST COMBINED SCHEDULE OF INVESTMENTS December 31, 2021 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 30,443,449 $ 30,443,449 11.52 % 30,443,449 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,525,384 2,525,384 0.96 2,525,384 Total money market funds $ 32,968,833 $ 32,968,833 12.48 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 9,996,324 $ 9,998,489 3.78 % 10,000,000 Albemarle Corporation January 11, 2022 0.200 % 4,998,834 4,999,722 1.89 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 0.95 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 7,497,300 7,499,867 2.84 7,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 4,998,710 4,999,646 1.89 5,000,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 4,998,000 4,999,889 1.89 5,000,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 9,995,111 9,998,333 3.78 10,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 4,998,800 4,999,956 1.89 5,000,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 9,996,061 9,999,444 3.78 10,000,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 4,997,876 4,999,268 1.89 5,000,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 4,997,328 4,997,918 1.89 5,000,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 1.89 5,000,000 Jabil Inc. January 20, 2022 0.250 % 2,499,219 2,499,670 0.95 2,500,000 Jabil Inc. February 8, 2022 0.300 % 7,496,063 7,497,625 2.84 7,500,000 Jabil Inc. February 25, 2022 0.310 % 4,996,900 4,997,632 1.89 5,000,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 1.89 5,000,000 Viatris Inc. February 11, 2022 0.300 % 4,996,625 4,998,292 1.89 5,000,000 Viatris Inc. March 1, 2022 0.310 % 4,996,986 4,997,460 1.89 5,000,000 Viatris Inc. January 21, 2022 0.200 % 4,998,584 4,999,444 1.89 5,000,000 WGL Holdings, Inc. January 12, 2022 0.220 % 4,998,686 4,999,664 1.89 5,000,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 1.89 5,000,000 Total Commercial Paper $ 119,951,019 $ 119,980,366 45.38 % Total Cash Equivalents $ 152,949,199 57.86 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 1.43 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.07 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 0.75 42,533,400 United States soybean futures contracts CBOT soybean futures MAR22 234 591,547 0.22 15,669,225 CBOT soybean futures MAY22 199 1,008,504 0.38 13,422,550 CBOT soybean futures NOV22 250 1,084,800 0.41 15,865,625 United States sugar futures contracts ICE sugar futures MAY22 381 225,299 0.09 7,936,992 ICE sugar futures MAR23 392 853,927 0.32 8,091,507 United States wheat futures contracts CBOT wheat futures MAY22 687 1,809,796 0.68 26,595,488 CBOT wheat futures DEC22 686 1,904,876 0.72 26,411,000 Total commodity futures contracts $ 13,415,301 5.07 % $ 234,855,437 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.03 % $ 6,817,541 United States wheat futures contracts CBOT wheat futures JUL22 593 654,969 0.25 22,667,425 Total commodity futures contracts $ 735,475 0.28 % $ 29,484,966 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,537,560 1.34 % 163,930 Teucrium Soybean Fund 3,538,006 1.34 155,374 Teucrium Sugar Fund 3,591,878 1.36 389,317 Teucrium Wheat Fund 3,510,575 1.33 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 5.37 % *The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. The accompanying notes are an integral part of these financial statements. |
Hashdex Bitcoin Futures ETF [Member] | |
Notes to Financial Statements | |
Investment Holdings, Schedule of Investments [Text Block] | SCHEDULE OF INVESTMENTS December 31, 2022 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 701,969 $ 701,969 65.59 % 701,969 Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Cryptocurrency futures contracts United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 $ 24,979 2.33 % $ 496,050 CME Bitcoin futures FEB23 7 4,173 0.39 575,575 Total cryptocurrency futures contracts $ 29,152 2.72 % $ 1,071,625 The accompanying notes are an integral part of these financial statements. |
Note 1 - Organization and Ope_7
Note 1 - Organization and Operation - Hashdex Bitcoin Futures ETF | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009, On June 7, 2010, 1 June 8, 2010, June 9, 2010. April 7, 2022. On June 13, 2011, 1 September 16, 2011, September 19, 2011, April 7, 2022. March 9, 2022. On February 10, 2012, 1 March 27, 2012, March 28, 2012. April 7, 2022. On September 14, 2022, 1 September 15, 2022, September 16, 2022. Teucrium Trading, LLC is the sponsor (“Sponsor”) of the Trust. The Sponsor is a member of the National Futures Association (the “NFA”) and became a commodity pool operator (“CPO”) registered with the Commodity Futures Trading Commission (the “CFTC”) effective November 10, 2009. September 8, 2017. The specific investment objective of each Fund and information regarding the organization and operation of each Fund are included in each Fund’s financial statements and accompanying notes, as well as in other sections of this Form 10 Subject to the terms of the Trust Agreement, Teucrium Trading, LLC in its capacity as the Sponsor (“Sponsor”) may no |
Hashdex Bitcoin Futures ETF [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Hashdex Bitcoin Futures ETF (the “Fund”) is a series of Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009. April 26, 2019. may https://www.sec.gov/Archives/edgar/data/1471824/000165495419004865/ex31.htm. July 28, 2009. On September 14, 2022, 1 September 15, 2022, The Fund’s investment objective is for changes in the Shares’ NAV to reflect the daily changes of the price of a specified benchmark (the “Benchmark”), less expenses from the Fund’s operations. The Benchmark currently is the average of the closing settlement prices for the first second one DEFI Benchmark CME Bitcoin Futures Contracts Weighting First to expire 50 % Second to expire 50 % Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor (“Sponsor”), may no |
Note 2 - Principal Contracts _7
Note 2 - Principal Contracts and Agreements - Hashdex Bitcoin Futures ETF | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 The Sponsor employs U.S. Bank N.A. as the Custodian for the Funds. The principal business address for U.S. Bank N.A is 1555 302, 53212. 615 53202. For custody services, the Funds will pay to U.S. Bank N.A. 0.0075% of average gross assets up to $1 $1 first $500 $500 $2 $3 The Sponsor employs Foreside Fund Services, LLC (“Foreside” or the “Distributor”) as the Distributor for the Funds. The Distribution Services Agreement among the Distributor and the Sponsor calls for the Distributor to work with the Custodian in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising materials. The Distributor and the Sponsor have also entered into a Securities Activities and Service Agreement (the “SASA”) under which certain employees and officers of the Sponsor are licensed as registered representatives or registered principals of the Distributor, under Financial Industry Regulatory Authority (“FINRA”) rules. For its services as the Distributor, Foreside receives a fee of 0.01% of the Fund’s average daily net assets and an aggregate annual fee of $100,000 for all Teucrium Funds, along with certain expense reimbursements. For its services under the SASA, Foreside receives a fee of $5,000 per registered representative and $1,000 per registered location. These services are recorded in distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below. Pursuant to a Consulting Services Agreement, Foreside Consulting Services, LLC, performs certain consulting support services for the Trust’s Sponsor. Additionally, Foreside Distributors, LLC performs certain distribution consulting services pursuant to a Distribution Consulting Agreement with the Trust’s Sponsor. Marex Capital Markets, Inc. (“Marex”), StoneX Financial Inc. (“StoneX”) and Phillip Capital Inc. (“Phillip Capital”) serve as the Funds’ clearing brokers to execute and clear futures contracts and provide other brokerage-related services. Marex, StoneX and Phillip Capital are each registered as futures commission merchants (“FCM”) with the U.S. CFTC and are members of the NFA. The clearing brokers are registered as broker-dealers with the SEC and are each a member of FINRA. Marex, StoneX and Phillip Capital are each clearing members of ICE Futures U.S., Inc., Chicago Board of Trade, Chicago Mercantile Exchange, New York Mercantile Exchange, and all other major United States commodity exchanges. For Corn, Soybean, Sugar and Wheat Futures Contracts, Marex is paid $11.00 per round turn. StoneX is paid $2.50 per round turn exclusive of pass-through fees for the exchange and the NFA. Additionally, if the monthly commissions paid by each Fund does not Brokerage Commissions The sole Trustee of the Trust is Wilmington Trust Company, a Delaware banking corporation. The Trustee will accept service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act. For its services, the Trustee receives an annual fee of $3,300 from the Trust. These services are recorded in business permits and licenses fees on the combined statements of operations. A summary of these expenses is included below. The Sponsor employs Thales Capital Partners LLC (“Thales”) for distribution and solicitation-related services. Thales is registered as a Broker-Dealer with the SEC and a member of Financial Industry Regulatory Authority (FINRA) and SIPC. Thales receives a quarterly fee of $18,750 or 0.10% of new assets raised in referred accounts for distribution and solicitation-related services. This fee based on new assets raised is determined by an agreed upon level of assets at the time of signing the contract. These services are recorded in distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below: Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 410,660 $ 363,000 $ 369,293 Amount of Custody Services Waived $ 42,625 $ 120,850 $ 71,342 Amount Recognized for Distribution Services $ 200,313 $ 186,531 $ 180,024 Amount of Distribution Services Waived $ 48,593 $ 94,724 $ 68,140 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 550 $ 991 $ 2,215 Amount Recognized for Thales $ 278,958 $ 297,222 $ 116,901 Amount of Thales Waived $ 106,944 $ 153,198 $ 57,988 |
Hashdex Bitcoin Futures ETF [Member] | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 Principal Contracts and Agreements The Sponsor employs U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services (“Global Fund Services”), for Transfer Agency, Fund Accounting and Fund Administration services. The principal address for Global Fund Services is 615 53202. For custody services, the Funds will pay to U.S. Bank N.A. 0.0075% of average gross assets up to $1 .0050% $1 first $500 $500 $2 $3 The Sponsor employs Foreside Fund Services, LLC (“Foreside” or the “Distributor”) as the Distributor for the Funds. The Distribution Services Agreement among the Distributor and the Sponsor calls for the Distributor to work with the Custodian in connection with the receipt and processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising materials. For its services as the Distributor, Foreside receives a fee of 0.01% of each Fund’s average daily net assets and an aggregate annual fee of $100,000 for all Funds, along with certain expense reimbursements. These services are recorded as distribution and marketing fees on the statements of operations. A summary of these expenses is included below. Pursuant to a Consulting Services Agreement, Foreside Consulting Services, LLC, performs certain consulting support services for the Trust’s Sponsor. StoneX Financial Inc. (“StoneX”) and Phillip Capital Inc. (“Phillip Capital”) serve as the Fund’s clearing brokers to execute futures contracts and provide other brokerage-related services. StoneX and Phillip Capital are each registered as futures commission merchants (“FCM”) with the U.S. CFTC and are members of the NFA. The clearing brokers are registered as broker-dealers with the SEC and are each a member of FINRA. StoneX and Phillip Capital are each clearing members of ICE Futures U.S., Inc., Chicago Board of Trade, Chicago Mercantile Exchange, New York Mercantile Exchange, and all other major United States commodity exchanges. StoneX is paid 10.00 -$25.00 per half-turn exclusive of pass through fees for the exchange, and the NFA. Phillip Capital is paid $35.00 - $45.00 per half-turn exclusive of pass through fees for the exchange, the NFA, execution fees and platform and exchange data fees. Additionally, if the monthly commissions paid do not The sole Trustee of the Trust is Wilmington Trust Company, a Delaware banking corporation. The Trustee will accept service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act. For its services, the Trustee receives an annual fee of $3,300 from the Trust. These services are recorded in business permits and licenses fees on the statements of operations. A summary of these expenses is included below. Period Ended December 31, 2022 Amount Recognized for Custody Services $ 213 Amount of Custody Services Waived $ 213 Amount Recognized for Distribution Services $ 95 Amount of Distribution Services Waived $ 95 Amount Recognized for Wilmington Trust $ 550 Amount of Wilmington Trust Waived $ 550 |
Note 3 - Summary of Significa_7
Note 3 - Summary of Significant Accounting Policies - Hashdex Bitcoin Futures ETF | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation The accompanying financial statements have been prepared on a combined basis in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification and include the accounts of the Trust, CORN, CANE, SOYB, WEAT, TAGS and DEFI. Refer to the accompanying separate financial statements for each Fund for more detailed information. For the periods represented by the financial statements herein the operations of the Trust contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI except for eliminations for TAGS as explained below for the months during which each Fund was in operation. Given the investment objective of TAGS as described in Note 1 Revenue Recognition Commodity and Cryptocurrency futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. The Funds seek to earn interest on their assets denominated in U.S. dollars on deposit with the Futures Commission Merchant. In addition, the Funds seek to earn interest on funds held at the custodian and at other financial institutions at prevailing market rates for such investments. The Sponsor may The Sponsor may Brokerage Commissions Beginning on August 21, 2019, December 31, 2022 2021 2020 CORN SOYB CANE WEAT TAGS DEFI TRUST Year Ending December 31, 2022 $ 217,050 $ 27,011 $ 33,469 $ 387,999 $ - $ 2,217 $ 667,746 Year Ending December 31, 2021 $ 141,674 $ 29,889 $ 21,123 $ 47,448 $ - $ - $ 240,134 Year Ending December 31, 2020 $ 149,619 $ 35,880 $ 14,681 $ 40,741 $ 1 $ - $ 240,922 Income Taxes The Trust is organized and will be operated as a Delaware statutory trust. For federal income tax purposes, each Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Funds are required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Funds recognize interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized for the years ending December 31, 2022 2021 2020 2019 The Funds may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 Each Fund receives or pays the proceeds from shares sold or redeemed within three There are a minimum number of baskets and associated shares specified for each Fund in the Fund’s respective prospectus, as amended from time to time. Once the minimum number of baskets is reached, there can be no CORN: 50,000 shares representing 2 baskets SOYB: 50,000 shares representing 2 baskets CANE: 50,000 shares representing 2 baskets WEAT: 50,000 shares representing 2 baskets TAGS: 50,000 shares representing 4 baskets DEFI: 50,000 shares representing 5 baskets Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 188,640,417 $ 32,968,833 $ 61,121,678 Demand Deposit Savings Accounts 46,061,819 99,262,744 95,809,411 Commercial Paper 199,360,060 119,980,366 152,447,206 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 434,062,296 $ 252,211,943 $ 309,378,295 Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement, which represents the amount payable for contracts purchased but not Due from/to Broker The amount recorded by the Trust for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one Payable/Receivable for Securities Purchased/Sold Due from/to broker for investments in securities are securities transactions pending settlement. The Trust and the Funds are subject to credit risk to the extent any broker with whom it conducts business is unable to fulfill contractual obligations on its behalf. The management of the Trust and the Funds monitors the financial condition of such brokers and does not Sponsor Fee, Allocation of Expenses and Related Party Transactions The Fund’s sponsor, Teucrium Trading, LLC (the “Sponsor”), is responsible for investing the assets of the Funds in accordance with the objectives and policies of each Fund. In addition, the Sponsor arranges for one third not no .94% The Agricultural Funds generally pay for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, or any other regulatory agency in connection with the offer and sale of subsequent Shares, after its initial registration, and all legal, accounting, printing and other expenses associated therewith. The Funds also pay the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 2,721,842 $ 2,321,539 $ 2,279,672 Waived Related Party Transactions $ 518,599 $ 1,052,715 $ 775,432 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated, and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value - Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Trust uses various valuation approaches. In accordance with U.S. GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Trust. Unobservable inputs reflect the Trust’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may not 1 2 3 On December 31, 2022 2021 no 1 2 For the quarter ended June 30, 2021, Sep21 Dec21 2 1 September 30, 2021. For the quarter ended March 31, 2021, Jul21 Sep21 Dec21 Jul21 Nov21 2 1 June 30, 2021, Sep21 Dec21 2 For the quarter ending June 30, 2020, DEC21 not, 2 DEC21 June 30, 2020. 1 September 30, 2020. The Funds and the Trust record their derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Investments in the securities of the Underlying Funds are freely traded and listed on the NYSE Arca. These investments are valued at the NAV of the Underlying Fund as of the valuation date as calculated by the administrator based on the exchange-quoted prices of the commodity futures contracts held by the Underlying Fund. Expenses Expenses are recorded using the accrual method of accounting. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: March 31, 2021; not The FASB issued ASU 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Hashdex Bitcoin Futures ETF [Member] | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification. Revenue Recognition Investment transactions are accounted for on a trade-date basis. All such transactions are recorded on the identified cost basis and marked to market daily. Unrealized appreciation or depreciation on investments are reflected in the statements of operations as the difference between the original amount and the fair market value as of the last business day of the year or as of the last date of the financial statements. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. Brokerage Commissions The Sponsor recognizes the expense for brokerage commissions for futures contract trades on a per-trade basis. The below table shows the amounts included on the statements of operations as total brokerage commissions paid inclusive of unrealized loss from the commencement of operations ( September 15, 2022) December 31, 2022 DEFI Period Ended December 31, 2022 $ 2,217 Income Taxes For federal income tax purposes, the Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not There is very limited authority on the U.S. federal income tax treatment of bitcoin and no not 7704 7704 not no not not The Fund recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and from the commencement of operations ( September 15, 2022) December 31, 2022 The Fund may may Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 The Fund will receive the proceeds from shares sold or will pay for redeemed shares within three As outlined in the most recent Form S- 1 no Allocation of Shareholder Income and Losses Profit or loss is allocated among the shareholders of the Fund in proportion to the number of shares each shareholder holds as of the close of each month. Cash Equivalents Cash equivalents are highly liquid investments with maturity dates of 90 may, December 31, 2022 Due from/to Broker The amount recorded by the Fund for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a cryptocurrency interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a very small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Calculation of Net Asset Value The Fund’s NAV is calculated by: • Taking the current market value of its total assets and • Subtracting any liabilities. The administrator, Global Fund Services, will calculate the NAV of the Fund once each trading day. It will calculate the NAV as of the earlier of the close of the New York Stock Exchange or 4:00 4:15 In determining the value of Bitcoin Futures Contracts, the Administrator uses the settlement price for the Benchmark Component Futures Contracts, as reported on the CME. CME Group staff determines the daily settlements for the Benchmark Component Futures Contracts based on trading activity on CME Globex exchange between 14:59:00 15:00:00 may 4:00 not Sponsor Fee Allocation of Expenses and Related Party Transactions The Sponsor is responsible for investing the assets of the Fund in accordance with the objectives and policies of the Fund. DEFI is contractually obligated to pay a monthly management fee to the Sponsor, based on average daily net assets, at a rate equal to 0.94% per annum. From the Management Fee, the Sponsor pays all of the routine operational, administrative and other ordinary expenses of the Fund, generally as determined by the Sponsor, including but not 1 not not not not The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there will be no DEFI Period Ended December 31, 2022 $ 75,291 Expenses Expenses are recorded using the accrual method of accounting. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not September 30, 2022; not Fair Value - Definition and Hierarchy In accordance with GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Fund uses various valuation approaches. In accordance with GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may On December 31, 2022 no Net Income (Loss) per Share Net income (loss) per share is the difference between the NAV per unit at the beginning of each period and at the end of each period. The weighted average number of units outstanding was computed for purposes of disclosing net income (loss) per weighted average unit. The weighted average units are equal to the number of units outstanding at the end of the period, adjusted proportionately for units created or redeemed based on the amount of time the units were outstanding during such period. |
Note 4 - Fair Value Measureme_7
Note 4 - Fair Value Measurements - Hashdex Bitcoin Futures ETF | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 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. December 31, 2022 December 31, 2021 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 388,000,477 $ - $ - $ 388,000,477 Commodity and Cryptocurrency Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Soybean futures contracts 2,520,370 - - 2,520,370 Sugar futures contracts 911,329 - - 911,329 Wheat futures contracts 3,160,732 - - 3,160,732 Bitcoin futures contracts 29,152 - - 29,152 Total $ 396,207,858 $ - $ - $ 396,207,858 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Sugar futures contracts 85,128 - - 85,128 Wheat futures contracts 26,380,838 - - 26,380,838 Total $ 29,433,069 $ - $ - $ 29,433,069 December 31, 2021 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 152,949,199 $ - $ - $ 152,949,199 Commodity Futures Contracts Corn futures contracts 5,936,552 - - 5,936,552 Soybean futures contracts 2,684,851 - - 2,684,851 Sugar futures contracts 1,079,226 - - 1,079,226 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 166,364,500 $ - $ - $ 166,364,500 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Commodity Futures Contracts Sugar futures contracts $ 80,506 $ - $ - $ 80,506 Wheat futures contracts 654,969 - - 654,969 Total $ 735,475 $ - $ - $ 735,475 For the years ended December 31, 2022 2021 not 1 2 See the Fair Value - Definition and Hierarchy 4 |
Hashdex Bitcoin Futures ETF [Member] | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 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. December 31, 2022 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 701,969 $ - $ - $ 701,969 Bitcoin futures contracts 29,152 - - 29,152 Total $ 731,121 $ - $ - $ 731,121 From the commencement of operations ( September 15, 2022) December 31, 2022 not See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Derivative Instrumen_6
Note 5 - Derivative Instruments and Hedging Activities - Hashdex Bitcoin Futures ETF | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 5 In the normal course of business, the Funds utilize derivative contracts in connection with its proprietary trading activities. Investments in derivative contracts are subject to additional risks that can result in a loss of all or part of an investment. The Funds’ derivative activities and exposure to derivative contracts are classified by the following primary underlying risks: interest rate, credit, commodity price, and equity price risks. In addition to its primary underlying risks, the Funds are also subject to additional counterparty risk due to inability of its counterparties to meet the terms of their contracts. For the years ended December 31, 2022 2021 Futures Contracts The Funds are subject to commodity and cryptocurrency price risk in the normal course of pursuing their investment objectives. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. The purchase and sale of futures contracts requires margin deposits with an FCM. Subsequent payments (variation margin) are made or received by each Fund each day, depending on the daily fluctuations in the value of the contract, and are recorded as unrealized gains or losses by each Fund. Futures contracts may The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other equity deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in FASB ASU No. 2011 11 210 2013 01 210 The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCMs, Marex and StoneX as of December 31, 2022 2021 not 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 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 2021 (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 Corn futures contracts $ 5,936,552 $ - $ 5,936,552 $ - $ - $ 5,936,552 Soybean futures contracts $ 2,684,851 $ - $ 2,684,851 $ - $ 675,169 $ 2,009,682 Sugar futures contracts $ 1,079,226 $ - $ 1,079,226 $ 80,506 $ - $ 998,720 Wheat futures contracts $ 3,714,672 $ - $ 3,714,672 $ 654,969 $ 213,708 $ 2,845,995 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2021 (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 $ 80,506 $ - $ 80,506 $ 80,506 $ - $ - Wheat futures contracts $ 654,969 $ - $ 654,969 $ 654,969 $ - $ - The following is a summary of realized and net change in unrealized gains (losses) of the derivative instruments utilized by the Trust: Year ended December 31, 2022 Realized Gain (Loss) on Commodity and Cryptocurrency Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity and Cryptocurrency Futures Contracts Commodity and Cryptocurrency Price Corn futures contracts $ 28,784,977 $ (7,317,857 ) Soybean futures contracts 10,362,032 (164,481 ) Sugar futures contracts (442,477 ) (172,519 ) Wheat futures contracts (81,457,408 ) (26,279,809 ) Bitcoin futures contracts (423,794 ) 29,152 Total commodity futures contracts $ (43,176,670 ) $ (33,905,514 ) Year ended December 31, 2021 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 65,827,118 $ (14,218,054 ) Soybean futures contracts 27,370,674 (12,439,375 ) Sugar futures contracts 6,223,228 (408,983 ) Wheat futures contracts 18,418,461 (2,678,459 ) Total commodity futures contracts $ 117,839,481 $ (29,744,871 ) Year ended December 31, 2020 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 5,882,216 $ 19,371,125 Soybean futures contracts 14,404,714 14,192,330 Sugar futures contracts (656,937 ) 1,060,274 Wheat futures contracts 5,461,905 669,686 Total commodity futures contracts $ 25,091,898 $ 35,293,415 Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $653.8 million in 2022 2021 2020 |
Hashdex Bitcoin Futures ETF [Member] | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 5 Derivative Instruments and Hedging Activities In the normal course of business, the Fund utilizes derivative contracts in connection with its proprietary trading activities. Investments in derivative contracts are subject to additional risks that can result in a loss of all or part of an investment. The Fund’s derivative activities and exposure to derivative contracts are classified by the following primary underlying risks: interest rate, credit, commodity price, and equity price risks. In addition to its primary underlying risks, the Fund is also subject to additional counterparty risk due to inability of its counterparties to meet the terms of their contracts. For the period from commencement of operations ( September 15, 2022) December 31, 2022 Futures Contracts The Fund is subject to cryptocurrency price risk in the normal course of pursuing its investment objectives. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. The purchase and sale of futures contracts requires margin deposits with a Futures Commission Merchant (“FCM”). Subsequent payments (variation margin) are made or received by the Fund each day, depending on the daily fluctuations in the value of the contract, and are recorded as unrealized gains or losses by the Fund. Futures contracts may The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other equity deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) No. 2011 11 210 2013 01 210 The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk, and held by the FCMs, StoneX as of December 31, 2022 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 Cryptocurrency Price Bitcoin futures contracts $ 29,152 $ - $ 29,152 $ - $ - $ 29,152 The following tables identify the net gain and loss amounts included in the statements of operations as realized and unrealized gains and losses on trading of cryptocurrency futures contracts categorized by primary underlying risk: From the commencement of operations ( September 15, 2022) December 31, 2022 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Cryptocurrency Price Bitcoin futures contracts $ (423,794 ) $ 29,152 Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $1.4 million from the commencement of operations ( September 15, 2022) December 31, 2022 |
Note 6 - Financial Highlights_5
Note 6 - Financial Highlights - Hashdex Bitcoin Futures ETF | 12 Months Ended |
Dec. 31, 2022 | |
Hashdex Bitcoin Futures ETF [Member] | |
Notes to Financial Statements | |
Investment Company, Financial Highlights [Text Block] | Note 6 Financial Highlights The following table presents per unit performance data and other supplemental financial data from the commencement of operations ( September 15, 2022) December 31, 2022 From the commencement of operations (September 15, 2022) through December 31, 2022 Per Share Operation Performance Net asset value at beginning of period $ 25.00 Income (loss) from investment operations: Investment income 0.19 Net realized and unrealized loss on cryptocurrency futures contracts (3.73 ) Total expenses, net (0.06 ) Net decrease in net asset value (3.60 ) Net asset value at end of period $ 21.40 Total Return (14.39 )% Ratios to Average Net Assets (Annualized) Total expenses 17.60 % Total expenses, net 0.94 % Net investment income 1.90 % The financial highlights per share data are calculated consistent with the methodology used to calculate asset-based fees and expenses. |
Note 7 - Organizational and O_5
Note 7 - Organizational and Offering Costs - Hashdex Bitcoin Futures ETF | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Organizational and Offering Costs [Text Block] | Note 6 Expenses incurred in organizing of the Trust and the initial offering of the shares, including applicable SEC registration fees, were borne directly by the Sponsor for the Funds and will be borne directly by the Sponsor for any series of the Trust which is not not |
Hashdex Bitcoin Futures ETF [Member] | |
Notes to Financial Statements | |
Organizational and Offering Costs [Text Block] | Note 7 Organizational and Offering Costs Expenses incurred in organizing of the Trust and the initial offering of the Shares of the Fund, including applicable SEC registration fees, were borne directly by the Sponsor. The Fund will not |
Note 8 - Subsequent Events - Ha
Note 8 - Subsequent Events - Hashdex Bitcoin Futures ETF | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Management has evaluated the financial statements for the year-ended December 31, 2022 no CORN: Nothing to report. SOYB: The total net assets of the Fund decreased by $15,131,868, or 26%, for the period December 31, 2022 February 28, 2023. CANE: Nothing to report. WEAT: The total net assets of the Fund decreased by $46,724,300, or 20%, for the period December 31, 2022 February 28, 2023. TAGS: Nothing to report. DEFI: The total net assets of the Fund increased by $431,977, or 40%, for the period December 31, 2022 February 28, 2023. |
Hashdex Bitcoin Futures ETF [Member] | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the period ended December 31, 2022 no The total net assets of the Fund increased by $431,977, or 40%, for the period December 31, 2022 February 28, 2023. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying financial statements have been prepared on a combined basis in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as detailed in the Financial Accounting Standards Board’s Accounting Standards Codification and include the accounts of the Trust, CORN, CANE, SOYB, WEAT, TAGS and DEFI. Refer to the accompanying separate financial statements for each Fund for more detailed information. For the periods represented by the financial statements herein the operations of the Trust contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI except for eliminations for TAGS as explained below for the months during which each Fund was in operation. Given the investment objective of TAGS as described in Note 1 |
Revenue [Policy Text Block] | Revenue Recognition Commodity and Cryptocurrency futures contracts are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Changes in the appreciation or depreciation between periods are reflected in the statements of operations. The Funds seek to earn interest on their assets denominated in U.S. dollars on deposit with the Futures Commission Merchant. In addition, the Funds seek to earn interest on funds held at the custodian and at other financial institutions at prevailing market rates for such investments. The Sponsor may The Sponsor may |
Commissions, Policy [Policy Text Block] | Brokerage Commissions Beginning on August 21, 2019, December 31, 2022 2021 2020 CORN SOYB CANE WEAT TAGS DEFI TRUST Year Ending December 31, 2022 $ 217,050 $ 27,011 $ 33,469 $ 387,999 $ - $ 2,217 $ 667,746 Year Ending December 31, 2021 $ 141,674 $ 29,889 $ 21,123 $ 47,448 $ - $ - $ 240,134 Year Ending December 31, 2020 $ 149,619 $ 35,880 $ 14,681 $ 40,741 $ 1 $ - $ 240,922 |
Income Tax, Policy [Policy Text Block] | Income Taxes The Trust is organized and will be operated as a Delaware statutory trust. For federal income tax purposes, each Fund will be treated as a publicly traded partnership. A publicly traded partnership is generally treated as a corporation for federal income tax purposes unless 90% 7704 1986, 90% not The Funds are required to determine whether a tax position is more likely than not may 2019 2022 fifty not December 31, 2022 2021 2020 2019 may not The Funds recognize interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized for the years ending December 31, 2022 2021 2020 2019 The Funds may may |
Stockholders' Equity, Policy [Policy Text Block] | Creations and Redemptions Authorized Purchasers may 4:00 Authorized Purchasers may 4:00 Each Fund receives or pays the proceeds from shares sold or redeemed within three There are a minimum number of baskets and associated shares specified for each Fund in the Fund’s respective prospectus, as amended from time to time. Once the minimum number of baskets is reached, there can be no CORN: 50,000 shares representing 2 baskets SOYB: 50,000 shares representing 2 baskets CANE: 50,000 shares representing 2 baskets WEAT: 50,000 shares representing 2 baskets TAGS: 50,000 shares representing 4 baskets DEFI: 50,000 shares representing 5 baskets |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash equivalents are highly liquid investments with original maturity dates of 90 not may, 90 not may not As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 188,640,417 $ 32,968,833 $ 61,121,678 Demand Deposit Savings Accounts 46,061,819 99,262,744 95,809,411 Commercial Paper 199,360,060 119,980,366 152,447,206 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 434,062,296 $ 252,211,943 $ 309,378,295 |
Payable for Purchases of Commercial Paper [Policy Text Block] | Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement, which represents the amount payable for contracts purchased but not |
Floor Brokerage, Policy [Policy Text Block] | Due from/to Broker The amount recorded by the Trust for the amount due from and to the clearing broker includes, but is not Margin is the minimum amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate and maintain an open position in futures contracts. A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold. Futures contracts are customarily bought and sold on initial margin that represents a relatively small percentage of the aggregate purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets may may may may one |
Industry-Specific Policies, Broker-Dealer [Policy Text Block] | Payable/Receivable for Securities Purchased/Sold Due from/to broker for investments in securities are securities transactions pending settlement. The Trust and the Funds are subject to credit risk to the extent any broker with whom it conducts business is unable to fulfill contractual obligations on its behalf. The management of the Trust and the Funds monitors the financial condition of such brokers and does not |
Sponsor Fee, Allocation of Expenses and Related Party Transactions [Policy Text Block] | Sponsor Fee, Allocation of Expenses and Related Party Transactions The Fund’s sponsor, Teucrium Trading, LLC (the “Sponsor”), is responsible for investing the assets of the Funds in accordance with the objectives and policies of each Fund. In addition, the Sponsor arranges for one third not no .94% The Agricultural Funds generally pay for all brokerage fees, taxes and other expenses, including licensing fees for the use of intellectual property, registration or other fees paid to the SEC, FINRA, or any other regulatory agency in connection with the offer and sale of subsequent Shares, after its initial registration, and all legal, accounting, printing and other expenses associated therewith. The Funds also pay the fees and expenses associated with the Trust’s tax accounting and reporting requirements. Certain aggregate expenses common to all Funds within the Trust are allocated by the Sponsor to the respective Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not These aggregate common expenses include, but are not Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 2,721,842 $ 2,321,539 $ 2,279,672 Waived Related Party Transactions $ 518,599 $ 1,052,715 $ 775,432 The Sponsor has the ability to elect to pay certain expenses on behalf of the Funds or waive the management fee. This election is subject to change by the Sponsor, at its discretion. Expenses paid by the Sponsor and Management fees waived by the Sponsor are, if applicable, presented as waived expenses in the statements of operations for each Fund. The Sponsor has determined that there would be no CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 When a trader purchases an option, there is no not Ongoing or “maintenance” margin requirements are computed each day by a trader’s clearing broker. When the market value of a particular open futures contract changes to a point where the margin on deposit does not not may not Finally, many major U.S. exchanges have passed certain cross margining arrangements involving procedures pursuant to which the futures and options positions held in an account would, in the case of some accounts, be aggregated, and margin requirements would be assessed on a portfolio basis, measuring the total risk of the combined positions. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value - Definition and Hierarchy In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Trust uses various valuation approaches. In accordance with U.S. GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Trust. Unobservable inputs reflect the Trust’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three Level 1 not 1 not Level 2 not Level 3 The availability of valuation techniques and observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, the type of financial instrument, whether the financial instrument is new and not not may may 3. may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not may not 1 2 3 On December 31, 2022 2021 no 1 2 For the quarter ended June 30, 2021, Sep21 Dec21 2 1 September 30, 2021. For the quarter ended March 31, 2021, Jul21 Sep21 Dec21 Jul21 Nov21 2 1 June 30, 2021, Sep21 Dec21 2 For the quarter ending June 30, 2020, DEC21 not, 2 DEC21 June 30, 2020. 1 September 30, 2020. The Funds and the Trust record their derivative activities at fair value. Gains and losses from derivative contracts are included in the statements of operations. Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities exchange, such as the CBOT and the ICE, or reported on another national market, are generally categorized in Level 1 may 2 3 Investments in the securities of the Underlying Funds are freely traded and listed on the NYSE Arca. These investments are valued at the NAV of the Underlying Fund as of the valuation date as calculated by the administrator based on the exchange-quoted prices of the commodity futures contracts held by the Underlying Fund. |
Expenses [Policy Text Block] | Expenses Expenses are recorded using the accrual method of accounting. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022 03, 820 not not June 30, 2022; not The FASB issued ASU 2021 05: 842 842 one September 30, 2021; not The FASB issued ASU 2020 10: March 31, 2021; not The FASB issued ASU 2020 02: 326 842 No. 119 No. 2016 02, 842 2016 02. March 31, 2020; not The FASB issued ASU 2020 01: 321 323 815 321, 323, 815. March 31, 2020; not The FASB issued ASU 2019 01: 842 not 842 September 30, 2020; not The FASB issued ASU 2018 13: 820 March 31, 2020; not The FASB issued ASU 2017 13, 605 840 842 July 20, 2017 No. 2014 09 No. 2016 02. not not 842 December 15, 2019, December 15, 2020. September 30, 2020; not |
Combined Schedule of Investme_2
Combined Schedule of Investments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 28,382,122 $ 28,382,122 6.10 % 28,382,122 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 160,258,295 160,258,295 34.44 160,258,295 Total money market funds $ 188,640,417 $ 188,640,417 40.54 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 1.07 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 14,877,488 14,968,886 3.22 15,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % 4,959,225 4,989,644 1.07 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 9,935,000 9,972,500 2.14 10,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 9,899,472 9,943,862 2.14 10,000,000 Crown Castle Inc. January 10, 2023 4.877 % 7,443,000 7,491,000 1.61 7,500,000 Crown Castle Inc. January 12, 2023 4.765 % 12,449,410 12,482,050 2.68 12,500,000 Entergy Corporation January 4, 2023 4.311 % 9,926,808 9,996,460 2.15 10,000,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 12,400,060 12,486,207 2.68 12,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 7,418,417 7,484,417 1.61 7,500,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 2.15 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 5,461,843 5,491,823 1.18 5,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 5,263,032 5,298,631 1.14 5,300,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 1.61 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 4,959,561 4,977,688 1.07 5,000,000 Humana Inc. January 9, 2023 4.670 % 7,448,250 7,492,333 1.61 7,500,000 Hyundai Capital America January 10, 2023 4.000 % 9,903,645 9,990,145 2.15 10,000,000 ITT Inc. January 19, 2023 4.475 % 4,965,088 4,988,975 1.07 5,000,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 1.07 5,000,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 1.07 5,000,000 Oracle Corporation January 17, 2023 4.361 % 9,931,919 9,980,889 2.14 10,000,000 V.F. Corporation January 17, 2023 4.364 % 4,959,390 4,990,444 1.07 5,000,000 V.F. Corporation February 2, 2023 4.669 % 6,456,811 6,473,422 1.39 6,500,000 VW Credit, Inc. January 19, 2023 4.434 % 7,448,106 7,483,613 1.61 7,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 4,970,188 4,971,512 1.07 5,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 4,959,098 4,961,736 1.07 5,000,000 Total Commercial Paper $ 198,351,250 $ 199,360,060 42.84 % Total Cash Equivalents $ 388,000,477 83.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 0.34 % $ 45,779,763 United States soybean futures contracts CBOT soybean futures MAR23 268 642,912 0.14 20,421,600 CBOT soybean futures MAY23 229 807,218 0.17 17,518,500 CBOT soybean futures NOV23 289 1,070,240 0.23 20,472,038 United States sugar futures contracts ICE sugar futures MAY23 401 356,963 0.08 8,407,526 ICE sugar futures JUL23 362 554,366 0.12 7,289,811 United States wheat futures contracts CBOT wheat futures JUL23 1,711 3,160,732 0.68 68,696,650 United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 24,979 0.01 496,050 CME Bitcoin futures FEB23 7 4,173 0.00 575,575 Total commodity and cryptocurrency futures contracts $ 8,207,381 1.77 % $ 189,657,513 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.16 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 0.48 53,440,625 United States sugar futures contracts ICE sugar futures MAR24 427 85,128 0.02 8,565,278 United States wheat futures contracts CBOT wheat futures MAY23 2,005 7,079,231 1.52 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 4.15 80,220,450 Total commodity and cryptocurrency futures contracts $ 29,433,069 6.33 % $ 275,693,541 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 9,885,980 2.12 % 367,555 Teucrium Soybean Fund 9,921,042 2.13 348,075 Teucrium Sugar Fund 9,745,653 2.09 1,024,284 Teucrium Wheat Fund 10,020,023 2.15 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 8.49 % Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 30,443,449 $ 30,443,449 11.52 % 30,443,449 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,525,384 2,525,384 0.96 2,525,384 Total money market funds $ 32,968,833 $ 32,968,833 12.48 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 9,996,324 $ 9,998,489 3.78 % 10,000,000 Albemarle Corporation January 11, 2022 0.200 % 4,998,834 4,999,722 1.89 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 0.95 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 7,497,300 7,499,867 2.84 7,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 4,998,710 4,999,646 1.89 5,000,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 4,998,000 4,999,889 1.89 5,000,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 9,995,111 9,998,333 3.78 10,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 4,998,800 4,999,956 1.89 5,000,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 9,996,061 9,999,444 3.78 10,000,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 4,997,876 4,999,268 1.89 5,000,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 4,997,328 4,997,918 1.89 5,000,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 1.89 5,000,000 Jabil Inc. January 20, 2022 0.250 % 2,499,219 2,499,670 0.95 2,500,000 Jabil Inc. February 8, 2022 0.300 % 7,496,063 7,497,625 2.84 7,500,000 Jabil Inc. February 25, 2022 0.310 % 4,996,900 4,997,632 1.89 5,000,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 1.89 5,000,000 Viatris Inc. February 11, 2022 0.300 % 4,996,625 4,998,292 1.89 5,000,000 Viatris Inc. March 1, 2022 0.310 % 4,996,986 4,997,460 1.89 5,000,000 Viatris Inc. January 21, 2022 0.200 % 4,998,584 4,999,444 1.89 5,000,000 WGL Holdings, Inc. January 12, 2022 0.220 % 4,998,686 4,999,664 1.89 5,000,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 1.89 5,000,000 Total Commercial Paper $ 119,951,019 $ 119,980,366 45.38 % Total Cash Equivalents $ 152,949,199 57.86 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 1.43 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.07 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 0.75 42,533,400 United States soybean futures contracts CBOT soybean futures MAR22 234 591,547 0.22 15,669,225 CBOT soybean futures MAY22 199 1,008,504 0.38 13,422,550 CBOT soybean futures NOV22 250 1,084,800 0.41 15,865,625 United States sugar futures contracts ICE sugar futures MAY22 381 225,299 0.09 7,936,992 ICE sugar futures MAR23 392 853,927 0.32 8,091,507 United States wheat futures contracts CBOT wheat futures MAY22 687 1,809,796 0.68 26,595,488 CBOT wheat futures DEC22 686 1,904,876 0.72 26,411,000 Total commodity futures contracts $ 13,415,301 5.07 % $ 234,855,437 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.03 % $ 6,817,541 United States wheat futures contracts CBOT wheat futures JUL22 593 654,969 0.25 22,667,425 Total commodity futures contracts $ 735,475 0.28 % $ 29,484,966 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,537,560 1.34 % 163,930 Teucrium Soybean Fund 3,538,006 1.34 155,374 Teucrium Sugar Fund 3,591,878 1.36 389,317 Teucrium Wheat Fund 3,510,575 1.33 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 5.37 % |
Note 2 - Principal Contracts _8
Note 2 - Principal Contracts and Agreements (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 410,660 $ 363,000 $ 369,293 Amount of Custody Services Waived $ 42,625 $ 120,850 $ 71,342 Amount Recognized for Distribution Services $ 200,313 $ 186,531 $ 180,024 Amount of Distribution Services Waived $ 48,593 $ 94,724 $ 68,140 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 550 $ 991 $ 2,215 Amount Recognized for Thales $ 278,958 $ 297,222 $ 116,901 Amount of Thales Waived $ 106,944 $ 153,198 $ 57,988 |
Note 3 - Summary of Significa_8
Note 3 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Year Ending December 31, 2022 $ 217,050 $ 27,011 $ 33,469 $ 387,999 $ - $ 2,217 $ 667,746 Year Ending December 31, 2021 $ 141,674 $ 29,889 $ 21,123 $ 47,448 $ - $ - $ 240,134 Year Ending December 31, 2020 $ 149,619 $ 35,880 $ 14,681 $ 40,741 $ 1 $ - $ 240,922 |
Schedule of Cash and Cash Equivalents [Table Text Block] | As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 188,640,417 $ 32,968,833 $ 61,121,678 Demand Deposit Savings Accounts 46,061,819 99,262,744 95,809,411 Commercial Paper 199,360,060 119,980,366 152,447,206 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 434,062,296 $ 252,211,943 $ 309,378,295 |
Schedule of Related Party Transactions [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 2,721,842 $ 2,321,539 $ 2,279,672 Waived Related Party Transactions $ 518,599 $ 1,052,715 $ 775,432 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 |
Note 4 - Fair Value Measureme_8
Note 4 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 388,000,477 $ - $ - $ 388,000,477 Commodity and Cryptocurrency Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Soybean futures contracts 2,520,370 - - 2,520,370 Sugar futures contracts 911,329 - - 911,329 Wheat futures contracts 3,160,732 - - 3,160,732 Bitcoin futures contracts 29,152 - - 29,152 Total $ 396,207,858 $ - $ - $ 396,207,858 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Sugar futures contracts 85,128 - - 85,128 Wheat futures contracts 26,380,838 - - 26,380,838 Total $ 29,433,069 $ - $ - $ 29,433,069 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 152,949,199 $ - $ - $ 152,949,199 Commodity Futures Contracts Corn futures contracts 5,936,552 - - 5,936,552 Soybean futures contracts 2,684,851 - - 2,684,851 Sugar futures contracts 1,079,226 - - 1,079,226 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 166,364,500 $ - $ - $ 166,364,500 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Commodity Futures Contracts Sugar futures contracts $ 80,506 $ - $ - $ 80,506 Wheat futures contracts 654,969 - - 654,969 Total $ 735,475 $ - $ - $ 735,475 |
Note 5 - Derivative Instrumen_7
Note 5 - Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 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 (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 $ - (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 Corn futures contracts $ 5,936,552 $ - $ 5,936,552 $ - $ - $ 5,936,552 Soybean futures contracts $ 2,684,851 $ - $ 2,684,851 $ - $ 675,169 $ 2,009,682 Sugar futures contracts $ 1,079,226 $ - $ 1,079,226 $ 80,506 $ - $ 998,720 Wheat futures contracts $ 3,714,672 $ - $ 3,714,672 $ 654,969 $ 213,708 $ 2,845,995 (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 $ 80,506 $ - $ 80,506 $ 80,506 $ - $ - Wheat futures contracts $ 654,969 $ - $ 654,969 $ 654,969 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Gain (Loss) on Commodity and Cryptocurrency Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity and Cryptocurrency Futures Contracts Commodity and Cryptocurrency Price Corn futures contracts $ 28,784,977 $ (7,317,857 ) Soybean futures contracts 10,362,032 (164,481 ) Sugar futures contracts (442,477 ) (172,519 ) Wheat futures contracts (81,457,408 ) (26,279,809 ) Bitcoin futures contracts (423,794 ) 29,152 Total commodity futures contracts $ (43,176,670 ) $ (33,905,514 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 65,827,118 $ (14,218,054 ) Soybean futures contracts 27,370,674 (12,439,375 ) Sugar futures contracts 6,223,228 (408,983 ) Wheat futures contracts 18,418,461 (2,678,459 ) Total commodity futures contracts $ 117,839,481 $ (29,744,871 ) Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 5,882,216 $ 19,371,125 Soybean futures contracts 14,404,714 14,192,330 Sugar futures contracts (656,937 ) 1,060,274 Wheat futures contracts 5,461,905 669,686 Total commodity futures contracts $ 25,091,898 $ 35,293,415 |
Note 7 - Detail of the Net As_2
Note 7 - Detail of the Net Assets and Shares Outstanding of the Funds that are a Series of the Trust (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Distribution of Assets, Liabilities and Stockholders' Equity [Table Text Block] | Outstanding Shares Net Assets Teucrium Corn Fund 5,675,004 $ 152,638,405 Teucrium Soybean Fund 2,050,004 58,429,985 Teucrium Sugar Fund 2,550,004 24,262,359 Teucrium Wheat Fund 28,675,004 228,972,039 Hashdex Bitcoin Futures ETF 50,004 1,070,263 Teucrium Agricultural Fund: 1,262,502 Net assets including the investment in the Underlying Funds 39,575,245 Less: Investment in the Underlying Funds 39,572,698 Net for the Fund in the combined net assets of the Trust 2,547 Total $ 465,375,598 Outstanding Shares Net Assets Teucrium Corn Fund 5,600,004 $ 120,846,256 Teucrium Soybean Fund 1,975,004 44,972,625 Teucrium Sugar Fund 2,475,004 22,834,664 Teucrium Wheat Fund 10,250,004 75,621,587 Teucrium Agricultural Fund: 525,002 Net assets including the investment in the Underlying Funds 14,179,655 Less: Investment in the Underlying Funds (14,178,019 ) Net for the Fund in the combined net assets of the Trust 1,636 Total $ 264,276,768 |
Schedule of Investments - Teu_6
Schedule of Investments - Teucrium Corn Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 28,382,122 $ 28,382,122 6.10 % 28,382,122 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 160,258,295 160,258,295 34.44 160,258,295 Total money market funds $ 188,640,417 $ 188,640,417 40.54 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 1.07 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 14,877,488 14,968,886 3.22 15,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % 4,959,225 4,989,644 1.07 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 9,935,000 9,972,500 2.14 10,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 9,899,472 9,943,862 2.14 10,000,000 Crown Castle Inc. January 10, 2023 4.877 % 7,443,000 7,491,000 1.61 7,500,000 Crown Castle Inc. January 12, 2023 4.765 % 12,449,410 12,482,050 2.68 12,500,000 Entergy Corporation January 4, 2023 4.311 % 9,926,808 9,996,460 2.15 10,000,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 12,400,060 12,486,207 2.68 12,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 7,418,417 7,484,417 1.61 7,500,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 2.15 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 5,461,843 5,491,823 1.18 5,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 5,263,032 5,298,631 1.14 5,300,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 1.61 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 4,959,561 4,977,688 1.07 5,000,000 Humana Inc. January 9, 2023 4.670 % 7,448,250 7,492,333 1.61 7,500,000 Hyundai Capital America January 10, 2023 4.000 % 9,903,645 9,990,145 2.15 10,000,000 ITT Inc. January 19, 2023 4.475 % 4,965,088 4,988,975 1.07 5,000,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 1.07 5,000,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 1.07 5,000,000 Oracle Corporation January 17, 2023 4.361 % 9,931,919 9,980,889 2.14 10,000,000 V.F. Corporation January 17, 2023 4.364 % 4,959,390 4,990,444 1.07 5,000,000 V.F. Corporation February 2, 2023 4.669 % 6,456,811 6,473,422 1.39 6,500,000 VW Credit, Inc. January 19, 2023 4.434 % 7,448,106 7,483,613 1.61 7,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 4,970,188 4,971,512 1.07 5,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 4,959,098 4,961,736 1.07 5,000,000 Total Commercial Paper $ 198,351,250 $ 199,360,060 42.84 % Total Cash Equivalents $ 388,000,477 83.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 0.34 % $ 45,779,763 United States soybean futures contracts CBOT soybean futures MAR23 268 642,912 0.14 20,421,600 CBOT soybean futures MAY23 229 807,218 0.17 17,518,500 CBOT soybean futures NOV23 289 1,070,240 0.23 20,472,038 United States sugar futures contracts ICE sugar futures MAY23 401 356,963 0.08 8,407,526 ICE sugar futures JUL23 362 554,366 0.12 7,289,811 United States wheat futures contracts CBOT wheat futures JUL23 1,711 3,160,732 0.68 68,696,650 United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 24,979 0.01 496,050 CME Bitcoin futures FEB23 7 4,173 0.00 575,575 Total commodity and cryptocurrency futures contracts $ 8,207,381 1.77 % $ 189,657,513 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.16 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 0.48 53,440,625 United States sugar futures contracts ICE sugar futures MAR24 427 85,128 0.02 8,565,278 United States wheat futures contracts CBOT wheat futures MAY23 2,005 7,079,231 1.52 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 4.15 80,220,450 Total commodity and cryptocurrency futures contracts $ 29,433,069 6.33 % $ 275,693,541 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 9,885,980 2.12 % 367,555 Teucrium Soybean Fund 9,921,042 2.13 348,075 Teucrium Sugar Fund 9,745,653 2.09 1,024,284 Teucrium Wheat Fund 10,020,023 2.15 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 8.49 % Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 30,443,449 $ 30,443,449 11.52 % 30,443,449 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,525,384 2,525,384 0.96 2,525,384 Total money market funds $ 32,968,833 $ 32,968,833 12.48 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 9,996,324 $ 9,998,489 3.78 % 10,000,000 Albemarle Corporation January 11, 2022 0.200 % 4,998,834 4,999,722 1.89 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 0.95 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 7,497,300 7,499,867 2.84 7,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 4,998,710 4,999,646 1.89 5,000,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 4,998,000 4,999,889 1.89 5,000,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 9,995,111 9,998,333 3.78 10,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 4,998,800 4,999,956 1.89 5,000,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 9,996,061 9,999,444 3.78 10,000,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 4,997,876 4,999,268 1.89 5,000,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 4,997,328 4,997,918 1.89 5,000,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 1.89 5,000,000 Jabil Inc. January 20, 2022 0.250 % 2,499,219 2,499,670 0.95 2,500,000 Jabil Inc. February 8, 2022 0.300 % 7,496,063 7,497,625 2.84 7,500,000 Jabil Inc. February 25, 2022 0.310 % 4,996,900 4,997,632 1.89 5,000,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 1.89 5,000,000 Viatris Inc. February 11, 2022 0.300 % 4,996,625 4,998,292 1.89 5,000,000 Viatris Inc. March 1, 2022 0.310 % 4,996,986 4,997,460 1.89 5,000,000 Viatris Inc. January 21, 2022 0.200 % 4,998,584 4,999,444 1.89 5,000,000 WGL Holdings, Inc. January 12, 2022 0.220 % 4,998,686 4,999,664 1.89 5,000,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 1.89 5,000,000 Total Commercial Paper $ 119,951,019 $ 119,980,366 45.38 % Total Cash Equivalents $ 152,949,199 57.86 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 1.43 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.07 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 0.75 42,533,400 United States soybean futures contracts CBOT soybean futures MAR22 234 591,547 0.22 15,669,225 CBOT soybean futures MAY22 199 1,008,504 0.38 13,422,550 CBOT soybean futures NOV22 250 1,084,800 0.41 15,865,625 United States sugar futures contracts ICE sugar futures MAY22 381 225,299 0.09 7,936,992 ICE sugar futures MAR23 392 853,927 0.32 8,091,507 United States wheat futures contracts CBOT wheat futures MAY22 687 1,809,796 0.68 26,595,488 CBOT wheat futures DEC22 686 1,904,876 0.72 26,411,000 Total commodity futures contracts $ 13,415,301 5.07 % $ 234,855,437 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.03 % $ 6,817,541 United States wheat futures contracts CBOT wheat futures JUL22 593 654,969 0.25 22,667,425 Total commodity futures contracts $ 735,475 0.28 % $ 29,484,966 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,537,560 1.34 % 163,930 Teucrium Soybean Fund 3,538,006 1.34 155,374 Teucrium Sugar Fund 3,591,878 1.36 389,317 Teucrium Wheat Fund 3,510,575 1.33 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 5.37 % |
Teucrium Corn Fund [Member] | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 3,498,444 $ 3,498,444 2.29 % 3,498,444 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 49,057,471 49,057,471 32.14 49,057,471 Total money market funds $ 52,555,915 $ 52,555,915 34.43 % Maturity Percentage of Date Yield Cost Fair Value Net Assets Principal Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 7,438,744 $ 7,484,443 $ 4.90 7,500,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 2,483,750 2,493,125 1.63 2,500,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 4,949,736 4,971,931 3.26 5,000,000 Crown Castle Inc. January 10, 2023 4.877 % 2,481,000 2,497,000 1.64 2,500,000 Crown Castle Inc. January 12, 2023 4.765 % 4,979,764 4,992,820 3.27 5,000,000 Entergy Corporation January 4, 2023 4.311 % 2,481,702 2,499,115 1.64 2,500,000 General Motors Financial Company, Inc. January 10, 2023 4.618 % 7,449,762 7,491,469 4.91 7,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 2,472,806 2,494,806 1.63 2,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 2,482,562 2,499,354 1.64 2,500,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 4.90 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 2,479,781 2,488,844 1.63 2,500,000 Hyundai Capital America January 10, 2023 4.000 % 2,475,911 2,497,536 1.64 2,500,000 ITT Inc. January 19, 2023 4.475 % 2,482,544 2,494,487 1.63 2,500,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 3.27 5,000,000 Oracle Corporation January 17, 2023 4.361 % 2,482,980 2,495,222 1.63 2,500,000 V.F. Corporation February 2, 2023 4.669 % 1,986,711 1,991,822 1.30 2,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 2,479,549 2,480,868 1.63 2,500,000 Total Commercial Paper $ 64,046,259 $ 64,340,159 42.15 % Total Cash Equivalents $ 116,896,074 76.58 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 1.04 % $ 45,779,763 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.49 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 1.45 53,440,625 Total commodity futures contracts $ 2,967,103 1.94 % $ 106,833,125 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.260 % $ 11,397,154 $ 11,397,154 9.43 % 11,397,154 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,508 2,508 0.00 2,508 Total money market funds $ 11,399,662 $ 11,399,662 9.43 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % 7,497,243 $ 7,498,867 $ 6.20 7,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 2,499,000 2,499,955 2.07 2,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 2,499,355 2,499,823 2.07 2,500,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 2,499,000 2,499,944 2.07 2,500,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 3,498,289 3,499,417 2.89 3,500,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 2,499,400 2,499,978 2.07 2,500,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 7,497,046 7,499,583 6.20 7,500,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 2,498,664 2,498,959 2.07 2,500,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 4.14 5,000,000 Jabil Inc. February 8, 2022 0.300 % 4,997,375 4,998,417 4.13 5,000,000 Jabil Inc. February 25, 2022 0.310 % 2,498,450 2,498,816 2.07 2,500,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 4.14 5,000,000 Viatris Inc. March 1, 2022 0.310 % 2,498,493 2,498,730 2.07 2,500,000 WGL Holdings, Inc. January 12, 2022 0.220 % 2,499,343 2,499,832 2.07 2,500,000 Total Commercial Paper $ 53,477,549 $ 53,490,781 44.26 % Total Cash Equivalents $ 64,890,443 53.69 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 3.12 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.16 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 1.63 42,533,400 Total commodity futures contracts $ 5,936,552 4.91 % $ 120,863,050 |
Note 1 - Organization and Ope_8
Note 1 - Organization and Operation - Teucrium Corn Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Corn Fund [Member] | |
Notes Tables | |
Schedule of Benchmark Percentages [Table Text Block] | CBOT Corn Futures Contract Weighting Second to expire 35% Third to expire 30% December following the third to expire 35% |
Note 2 - Principal Contracts _9
Note 2 - Principal Contracts and Agreements - Teucrium Corn Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 410,660 $ 363,000 $ 369,293 Amount of Custody Services Waived $ 42,625 $ 120,850 $ 71,342 Amount Recognized for Distribution Services $ 200,313 $ 186,531 $ 180,024 Amount of Distribution Services Waived $ 48,593 $ 94,724 $ 68,140 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 550 $ 991 $ 2,215 Amount Recognized for Thales $ 278,958 $ 297,222 $ 116,901 Amount of Thales Waived $ 106,944 $ 153,198 $ 57,988 |
Teucrium Corn Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 110,365 $ 170,890 $ 174,070 Amount of Custody Services Waived $ 4,000 $ 59,872 $ 52,728 Amount Recognized for Distribution Services $ 60,803 $ 88,049 $ 86,151 Amount of Distribution Services Waived $ 17,010 $ 40,063 $ 28,816 Amount Recognized for Wilmington Trust $ 550 $ 1,520 $ 1,511 Amount of Wilmington Trust Waived $ - $ - $ 1,511 Amount Recognized for Thales $ 90,561 $ 138,657 $ 56,292 Amount of Thales Waived $ 27,193 $ 80,945 $ 22,621 |
Note 3 - Summary of Significa_9
Note 3 - Summary of Significant Accounting Policies - Teucrium Corn Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Year Ending December 31, 2022 $ 217,050 $ 27,011 $ 33,469 $ 387,999 $ - $ 2,217 $ 667,746 Year Ending December 31, 2021 $ 141,674 $ 29,889 $ 21,123 $ 47,448 $ - $ - $ 240,134 Year Ending December 31, 2020 $ 149,619 $ 35,880 $ 14,681 $ 40,741 $ 1 $ - $ 240,922 |
Schedule of Cash and Cash Equivalents [Table Text Block] | As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 188,640,417 $ 32,968,833 $ 61,121,678 Demand Deposit Savings Accounts 46,061,819 99,262,744 95,809,411 Commercial Paper 199,360,060 119,980,366 152,447,206 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 434,062,296 $ 252,211,943 $ 309,378,295 |
Schedule of Related Party Transactions [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 2,721,842 $ 2,321,539 $ 2,279,672 Waived Related Party Transactions $ 518,599 $ 1,052,715 $ 775,432 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 |
Teucrium Corn Fund [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN Year Ending December 31, 2022 $ 217,050 Year Ending December 31, 2021 $ 141,674 Year Ending December 31, 2020 $ 149,619 |
Schedule of Cash and Cash Equivalents [Table Text Block] | As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 52,555,915 $ 11,399,662 $ 27,496,317 Demand Deposit Savings Accounts 25,538,663 50,122,297 40,210,208 Commercial Paper 64,340,159 53,490,781 70,474,536 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 142,434,737 $ 115,012,740 $ 138,181,061 |
Schedule of Related Party Transactions [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 827,230 $ 1,095,188 $ 1,089,985 Waived Related Party Transactions $ 149,721 $ 535,622 $ 493,231 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN Year Ended December 31, 2022 $ 345,855 Year Ended December 31, 2021 $ 1,060,261 Year Ended December 31, 2020 $ 849,396 |
Note 4 - Fair Value Measureme_9
Note 4 - Fair Value Measurements - Teucrium Corn Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 388,000,477 $ - $ - $ 388,000,477 Commodity and Cryptocurrency Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Soybean futures contracts 2,520,370 - - 2,520,370 Sugar futures contracts 911,329 - - 911,329 Wheat futures contracts 3,160,732 - - 3,160,732 Bitcoin futures contracts 29,152 - - 29,152 Total $ 396,207,858 $ - $ - $ 396,207,858 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Sugar futures contracts 85,128 - - 85,128 Wheat futures contracts 26,380,838 - - 26,380,838 Total $ 29,433,069 $ - $ - $ 29,433,069 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 152,949,199 $ - $ - $ 152,949,199 Commodity Futures Contracts Corn futures contracts 5,936,552 - - 5,936,552 Soybean futures contracts 2,684,851 - - 2,684,851 Sugar futures contracts 1,079,226 - - 1,079,226 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 166,364,500 $ - $ - $ 166,364,500 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Commodity Futures Contracts Sugar futures contracts $ 80,506 $ - $ - $ 80,506 Wheat futures contracts 654,969 - - 654,969 Total $ 735,475 $ - $ - $ 735,475 |
Teucrium Corn Fund [Member] | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 116,896,074 $ - $ - $ 116,896,074 Corn futures contracts 1,585,798 - - 1,585,798 Total $ 118,481,872 $ - $ - $ 118,481,872 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 64,890,443 $ - $ - $ 64,890,443 Corn futures contracts 5,936,552 - - 5,936,552 Total $ 70,826,995 $ - $ - $ 70,826,995 |
Note 5 - Derivative Instrumen_8
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Corn Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 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 (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 $ - (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 Corn futures contracts $ 5,936,552 $ - $ 5,936,552 $ - $ - $ 5,936,552 Soybean futures contracts $ 2,684,851 $ - $ 2,684,851 $ - $ 675,169 $ 2,009,682 Sugar futures contracts $ 1,079,226 $ - $ 1,079,226 $ 80,506 $ - $ 998,720 Wheat futures contracts $ 3,714,672 $ - $ 3,714,672 $ 654,969 $ 213,708 $ 2,845,995 (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 $ 80,506 $ - $ 80,506 $ 80,506 $ - $ - Wheat futures contracts $ 654,969 $ - $ 654,969 $ 654,969 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Gain (Loss) on Commodity and Cryptocurrency Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity and Cryptocurrency Futures Contracts Commodity and Cryptocurrency Price Corn futures contracts $ 28,784,977 $ (7,317,857 ) Soybean futures contracts 10,362,032 (164,481 ) Sugar futures contracts (442,477 ) (172,519 ) Wheat futures contracts (81,457,408 ) (26,279,809 ) Bitcoin futures contracts (423,794 ) 29,152 Total commodity futures contracts $ (43,176,670 ) $ (33,905,514 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 65,827,118 $ (14,218,054 ) Soybean futures contracts 27,370,674 (12,439,375 ) Sugar futures contracts 6,223,228 (408,983 ) Wheat futures contracts 18,418,461 (2,678,459 ) Total commodity futures contracts $ 117,839,481 $ (29,744,871 ) Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 5,882,216 $ 19,371,125 Soybean futures contracts 14,404,714 14,192,330 Sugar futures contracts (656,937 ) 1,060,274 Wheat futures contracts 5,461,905 669,686 Total commodity futures contracts $ 25,091,898 $ 35,293,415 |
Teucrium Corn 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 Corn futures contracts $ 1,585,798 $ - $ 1,585,798 $ 1,585,798 $ - $ - (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 Corn futures contracts $ 2,967,103 $ - $ 2,967,103 $ 1,585,798 $ 1,381,305 $ - (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 Corn futures contracts $ 5,936,552 $ - $ 5,936,552 $ - $ - $ 5,936,552 |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,784,977 $ (7,317,857 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 65,827,118 $ (14,218,054 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 5,882,216 $ 19,371,125 |
Note 6 - Financial Highlights_6
Note 6 - Financial Highlights - Teucrium Corn Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Corn Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Year ended Year ended Year ended December 31, 2022 December 31, 2021 December 31, 2020 Per Share Operation Performance Net asset value at beginning of period $ 21.58 $ 15.54 $ 14.82 Income (loss) from investment operations: Investment income 0.43 0.03 0.08 Net realized and unrealized gain on commodity futures contracts 5.34 6.38 0.97 Total expenses, net (0.45 ) (0.37 ) (0.33 ) Net increase in net asset value 5.32 6.04 0.72 Net asset value at end of period $ 26.90 $ 21.58 $ 15.54 Total Return 24.64 % 38.88 % 4.83 % Ratios to Average Net Assets (Annualized) Total expenses 1.88 % 2.62 % 3.40 % Total expenses, net 1.72 % 1.91 % 2.50 % Net investment loss (0.10 )% (1.74 )% (1.86 )% |
Schedule of Investments - Teu_7
Schedule of Investments - Teucrium Soybean Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 28,382,122 $ 28,382,122 6.10 % 28,382,122 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 160,258,295 160,258,295 34.44 160,258,295 Total money market funds $ 188,640,417 $ 188,640,417 40.54 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 1.07 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 14,877,488 14,968,886 3.22 15,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % 4,959,225 4,989,644 1.07 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 9,935,000 9,972,500 2.14 10,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 9,899,472 9,943,862 2.14 10,000,000 Crown Castle Inc. January 10, 2023 4.877 % 7,443,000 7,491,000 1.61 7,500,000 Crown Castle Inc. January 12, 2023 4.765 % 12,449,410 12,482,050 2.68 12,500,000 Entergy Corporation January 4, 2023 4.311 % 9,926,808 9,996,460 2.15 10,000,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 12,400,060 12,486,207 2.68 12,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 7,418,417 7,484,417 1.61 7,500,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 2.15 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 5,461,843 5,491,823 1.18 5,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 5,263,032 5,298,631 1.14 5,300,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 1.61 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 4,959,561 4,977,688 1.07 5,000,000 Humana Inc. January 9, 2023 4.670 % 7,448,250 7,492,333 1.61 7,500,000 Hyundai Capital America January 10, 2023 4.000 % 9,903,645 9,990,145 2.15 10,000,000 ITT Inc. January 19, 2023 4.475 % 4,965,088 4,988,975 1.07 5,000,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 1.07 5,000,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 1.07 5,000,000 Oracle Corporation January 17, 2023 4.361 % 9,931,919 9,980,889 2.14 10,000,000 V.F. Corporation January 17, 2023 4.364 % 4,959,390 4,990,444 1.07 5,000,000 V.F. Corporation February 2, 2023 4.669 % 6,456,811 6,473,422 1.39 6,500,000 VW Credit, Inc. January 19, 2023 4.434 % 7,448,106 7,483,613 1.61 7,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 4,970,188 4,971,512 1.07 5,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 4,959,098 4,961,736 1.07 5,000,000 Total Commercial Paper $ 198,351,250 $ 199,360,060 42.84 % Total Cash Equivalents $ 388,000,477 83.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 0.34 % $ 45,779,763 United States soybean futures contracts CBOT soybean futures MAR23 268 642,912 0.14 20,421,600 CBOT soybean futures MAY23 229 807,218 0.17 17,518,500 CBOT soybean futures NOV23 289 1,070,240 0.23 20,472,038 United States sugar futures contracts ICE sugar futures MAY23 401 356,963 0.08 8,407,526 ICE sugar futures JUL23 362 554,366 0.12 7,289,811 United States wheat futures contracts CBOT wheat futures JUL23 1,711 3,160,732 0.68 68,696,650 United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 24,979 0.01 496,050 CME Bitcoin futures FEB23 7 4,173 0.00 575,575 Total commodity and cryptocurrency futures contracts $ 8,207,381 1.77 % $ 189,657,513 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.16 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 0.48 53,440,625 United States sugar futures contracts ICE sugar futures MAR24 427 85,128 0.02 8,565,278 United States wheat futures contracts CBOT wheat futures MAY23 2,005 7,079,231 1.52 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 4.15 80,220,450 Total commodity and cryptocurrency futures contracts $ 29,433,069 6.33 % $ 275,693,541 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 9,885,980 2.12 % 367,555 Teucrium Soybean Fund 9,921,042 2.13 348,075 Teucrium Sugar Fund 9,745,653 2.09 1,024,284 Teucrium Wheat Fund 10,020,023 2.15 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 8.49 % Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 30,443,449 $ 30,443,449 11.52 % 30,443,449 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,525,384 2,525,384 0.96 2,525,384 Total money market funds $ 32,968,833 $ 32,968,833 12.48 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 9,996,324 $ 9,998,489 3.78 % 10,000,000 Albemarle Corporation January 11, 2022 0.200 % 4,998,834 4,999,722 1.89 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 0.95 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 7,497,300 7,499,867 2.84 7,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 4,998,710 4,999,646 1.89 5,000,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 4,998,000 4,999,889 1.89 5,000,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 9,995,111 9,998,333 3.78 10,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 4,998,800 4,999,956 1.89 5,000,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 9,996,061 9,999,444 3.78 10,000,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 4,997,876 4,999,268 1.89 5,000,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 4,997,328 4,997,918 1.89 5,000,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 1.89 5,000,000 Jabil Inc. January 20, 2022 0.250 % 2,499,219 2,499,670 0.95 2,500,000 Jabil Inc. February 8, 2022 0.300 % 7,496,063 7,497,625 2.84 7,500,000 Jabil Inc. February 25, 2022 0.310 % 4,996,900 4,997,632 1.89 5,000,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 1.89 5,000,000 Viatris Inc. February 11, 2022 0.300 % 4,996,625 4,998,292 1.89 5,000,000 Viatris Inc. March 1, 2022 0.310 % 4,996,986 4,997,460 1.89 5,000,000 Viatris Inc. January 21, 2022 0.200 % 4,998,584 4,999,444 1.89 5,000,000 WGL Holdings, Inc. January 12, 2022 0.220 % 4,998,686 4,999,664 1.89 5,000,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 1.89 5,000,000 Total Commercial Paper $ 119,951,019 $ 119,980,366 45.38 % Total Cash Equivalents $ 152,949,199 57.86 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 1.43 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.07 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 0.75 42,533,400 United States soybean futures contracts CBOT soybean futures MAR22 234 591,547 0.22 15,669,225 CBOT soybean futures MAY22 199 1,008,504 0.38 13,422,550 CBOT soybean futures NOV22 250 1,084,800 0.41 15,865,625 United States sugar futures contracts ICE sugar futures MAY22 381 225,299 0.09 7,936,992 ICE sugar futures MAR23 392 853,927 0.32 8,091,507 United States wheat futures contracts CBOT wheat futures MAY22 687 1,809,796 0.68 26,595,488 CBOT wheat futures DEC22 686 1,904,876 0.72 26,411,000 Total commodity futures contracts $ 13,415,301 5.07 % $ 234,855,437 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.03 % $ 6,817,541 United States wheat futures contracts CBOT wheat futures JUL22 593 654,969 0.25 22,667,425 Total commodity futures contracts $ 735,475 0.28 % $ 29,484,966 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,537,560 1.34 % 163,930 Teucrium Soybean Fund 3,538,006 1.34 155,374 Teucrium Sugar Fund 3,591,878 1.36 389,317 Teucrium Wheat Fund 3,510,575 1.33 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 5.37 % |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 10,287,270 $ 10,287,270 17.61 % 10,287,270 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 15,343,772 15,343,772 26.26 15,343,772 Total money market funds $ 25,631,042 $ 25,631,042 43.87 % Maturity Percentage of Date Yield Cost Fair Value Net Assets Principal Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % $ 4,959,225 $ 4,989,644 8.54 % 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 2,483,750 2,493,125 4.27 2,500,000 Crown Castle Inc. January 10, 2023 4.877 % 2,481,000 2,497,000 4.27 2,500,000 Crown Castle Inc. January 12, 2023 4.765 % 2,489,882 2,496,410 4.27 2,500,000 Entergy Corporation January 4, 2023 4.311 % 2,481,702 2,499,115 4.28 2,500,000 Humana Inc. January 9, 2023 4.670 % 2,482,750 2,497,444 4.27 2,500,000 V.F. Corporation January 17, 2023 4.364 % 2,479,695 2,495,222 4.27 2,500,000 V.F. Corporation February 2, 2023 4.669 % 2,483,389 2,489,778 4.26 2,500,000 VW Credit, Inc. January 19, 2023 4.434 % 2,482,702 2,494,538 4.27 2,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 2,485,094 2,485,756 4.25 2,500,000 Total Commercial Paper $ 27,309,189 $ 27,438,032 46.96 % Total Cash Equivalents $ 53,069,074 90.83 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States soybean futures contracts CBOT soybean futures MAR23 268 $ 642,912 1.10 % $ 20,421,600 CBOT soybean futures MAY23 229 807,218 1.38 17,518,500 CBOT soybean futures NOV23 289 1,070,240 1.82 20,472,038 Total commodity futures contracts $ 2,520,370 4.30 % $ 58,412,138 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 8,951,314 $ 8,951,314 19.91 % 8,951,314 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,511,180 2,511,180 5.58 2,511,180 Total money market funds $ 11,462,494 $ 11,462,494 25.49 % Maturity Percentage of Date Yield Cost Fair Value Net Assets Shares Commercial Paper Albemarle Corporation January 11, 2022 0.200 % $ 2,499,417 $ 2,499,861 5.56 % 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 2,499,000 2,499,956 5.56 2,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 2,499,355 2,499,823 5.56 2,500,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 3,998,044 3,999,333 8.89 4,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 2,499,400 2,499,978 5.56 2,500,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 2,498,938 2,499,634 5.56 2,500,000 Viatris Inc. February 11, 2022 0.300 % 2,498,312 2,499,146 5.55 2,500,000 Viatris Inc. January 21, 2022 0.200 % 2,499,292 2,499,722 5.56 2,500,000 Total Commercial Paper $ 21,491,758 $ 21,497,453 47.80 % Total Cash Equivalents $ 32,959,947 73.29 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States soybean futures contracts CBOT soybean futures MAR22 234 $ 591,547 1.32 % $ 15,669,225 CBOT soybean futures MAY22 199 1,008,504 2.24 13,422,550 CBOT soybean futures NOV22 250 1,084,800 2.41 15,865,625 Total commodity futures contracts $ 2,684,851 5.97 % $ 44,957,400 |
Note 1 - Organization and Ope_9
Note 1 - Organization and Operation - Teucrium Soybean Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Schedule of Benchmark Percentages [Table Text Block] | CBOT Soybeans Futures Contract Weighting Second to expire (excluding August & September) 35% Third to expire (excluding August & September) 30% Expiring in the November following the expiration of the third to expire contract 35% |
Note 2 - Principal Contracts_10
Note 2 - Principal Contracts and Agreements - Teucrium Soybean Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 410,660 $ 363,000 $ 369,293 Amount of Custody Services Waived $ 42,625 $ 120,850 $ 71,342 Amount Recognized for Distribution Services $ 200,313 $ 186,531 $ 180,024 Amount of Distribution Services Waived $ 48,593 $ 94,724 $ 68,140 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 550 $ 991 $ 2,215 Amount Recognized for Thales $ 278,958 $ 297,222 $ 116,901 Amount of Thales Waived $ 106,944 $ 153,198 $ 57,988 |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 37,114 $ 91,007 $ 86,875 Amount of Custody Services Waived $ 4,000 $ 30,326 $ 667 Amount Recognized for Distribution Services $ 19,183 $ 46,195 $ 43,517 Amount of Distribution Services Waived $ 3,962 $ 24,812 $ 23,156 Amount Recognized for Wilmington Trust $ 550 $ 631 $ 1,073 Amount of Wilmington Trust Waived $ - $ 631 $ - Amount Recognized for Thales $ 27,880 $ 78,988 $ 28,871 Amount of Thales Waived $ - $ 31,340 $ 21,770 |
Note 3 - Summary of Signific_10
Note 3 - Summary of Significant Accounting Policies - Teucrium Soybean Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Year Ending December 31, 2022 $ 217,050 $ 27,011 $ 33,469 $ 387,999 $ - $ 2,217 $ 667,746 Year Ending December 31, 2021 $ 141,674 $ 29,889 $ 21,123 $ 47,448 $ - $ - $ 240,134 Year Ending December 31, 2020 $ 149,619 $ 35,880 $ 14,681 $ 40,741 $ 1 $ - $ 240,922 |
Schedule of Cash and Cash Equivalents [Table Text Block] | As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 188,640,417 $ 32,968,833 $ 61,121,678 Demand Deposit Savings Accounts 46,061,819 99,262,744 95,809,411 Commercial Paper 199,360,060 119,980,366 152,447,206 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 434,062,296 $ 252,211,943 $ 309,378,295 |
Schedule of Related Party Transactions [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 2,721,842 $ 2,321,539 $ 2,279,672 Waived Related Party Transactions $ 518,599 $ 1,052,715 $ 775,432 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | SOYB Year Ending December 31, 2022 $ 27,011 Year Ending December 31, 2021 $ 29,889 Year Ending December 31, 2020 $ 35,880 |
Schedule of Cash and Cash Equivalents [Table Text Block] | As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 25,631,042 $ 11,462,494 $ 13,242,009 Demand Deposit Savings Accounts 5,143,495 10,059,937 32,671,497 Commercial Paper 27,438,032 21,497,453 44,484,885 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 58,212,569 $ 43,019,884 $ 90,398,391 |
Schedule of Related Party Transactions [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 261,124 $ 571,585 $ 547,998 Waived Related Party Transactions $ 32,056 $ 288,098 $ 194,347 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | SOYB Year Ended December 31, 2022 $ 89,562 Year Ended December 31, 2021 $ 576,014 Year Ended December 31, 2020 $ 399,518 |
Note 4 - Fair Value Measurem_10
Note 4 - Fair Value Measurements - Teucrium Soybean Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 388,000,477 $ - $ - $ 388,000,477 Commodity and Cryptocurrency Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Soybean futures contracts 2,520,370 - - 2,520,370 Sugar futures contracts 911,329 - - 911,329 Wheat futures contracts 3,160,732 - - 3,160,732 Bitcoin futures contracts 29,152 - - 29,152 Total $ 396,207,858 $ - $ - $ 396,207,858 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Sugar futures contracts 85,128 - - 85,128 Wheat futures contracts 26,380,838 - - 26,380,838 Total $ 29,433,069 $ - $ - $ 29,433,069 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 152,949,199 $ - $ - $ 152,949,199 Commodity Futures Contracts Corn futures contracts 5,936,552 - - 5,936,552 Soybean futures contracts 2,684,851 - - 2,684,851 Sugar futures contracts 1,079,226 - - 1,079,226 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 166,364,500 $ - $ - $ 166,364,500 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Commodity Futures Contracts Sugar futures contracts $ 80,506 $ - $ - $ 80,506 Wheat futures contracts 654,969 - - 654,969 Total $ 735,475 $ - $ - $ 735,475 |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 53,069,074 $ - $ - $ 53,069,074 Soybean futures contracts 2,520,370 - - 2,520,370 Total $ 55,589,444 $ - $ - $ 55,589,444 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 32,959,947 $ - $ - $ 32,959,947 Soybean futures contracts 2,684,851 - - 2,684,851 Total $ 35,644,798 $ - $ - $ 35,644,798 |
Note 5 - Derivative Instrumen_9
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Soybean Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 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 (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 $ - (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 Corn futures contracts $ 5,936,552 $ - $ 5,936,552 $ - $ - $ 5,936,552 Soybean futures contracts $ 2,684,851 $ - $ 2,684,851 $ - $ 675,169 $ 2,009,682 Sugar futures contracts $ 1,079,226 $ - $ 1,079,226 $ 80,506 $ - $ 998,720 Wheat futures contracts $ 3,714,672 $ - $ 3,714,672 $ 654,969 $ 213,708 $ 2,845,995 (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 $ 80,506 $ - $ 80,506 $ 80,506 $ - $ - Wheat futures contracts $ 654,969 $ - $ 654,969 $ 654,969 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Gain (Loss) on Commodity and Cryptocurrency Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity and Cryptocurrency Futures Contracts Commodity and Cryptocurrency Price Corn futures contracts $ 28,784,977 $ (7,317,857 ) Soybean futures contracts 10,362,032 (164,481 ) Sugar futures contracts (442,477 ) (172,519 ) Wheat futures contracts (81,457,408 ) (26,279,809 ) Bitcoin futures contracts (423,794 ) 29,152 Total commodity futures contracts $ (43,176,670 ) $ (33,905,514 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 65,827,118 $ (14,218,054 ) Soybean futures contracts 27,370,674 (12,439,375 ) Sugar futures contracts 6,223,228 (408,983 ) Wheat futures contracts 18,418,461 (2,678,459 ) Total commodity futures contracts $ 117,839,481 $ (29,744,871 ) Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 5,882,216 $ 19,371,125 Soybean futures contracts 14,404,714 14,192,330 Sugar futures contracts (656,937 ) 1,060,274 Wheat futures contracts 5,461,905 669,686 Total commodity futures contracts $ 25,091,898 $ 35,293,415 |
Teucrium Soybean 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 Soybean futures contracts $ 2,520,370 $ - $ 2,520,370 $ - $ - $ 2,520,370 (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 Soybean futures contracts $ 2,684,851 $ - $ 2,684,851 $ - $ 675,169 $ 2,009,682 |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 10,362,032 $ (164,481 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 27,370,674 $ (12,439,375 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 14,404,714 $ 14,192,330 |
Note 6 - Financial Highlights_7
Note 6 - Financial Highlights - Teucrium Soybean Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Year ended Year ended Year ended December 31, 2022 December 31, 2021 December 31, 2020 Per Share Operation Performance Net asset value at beginning of period $ 22.77 $ 19.49 $ 15.85 Income (loss) from investment operations: Investment income 0.45 0.04 0.07 Net realized and unrealized gain on commodity futures contracts 5.76 3.67 3.94 Total expenses, net (0.48 ) (0.43 ) (0.37 ) Net increase in net asset value 5.73 3.28 3.64 Net asset value at end of period $ 28.50 $ 22.77 $ 19.49 Total Return 25.17 % 16.82 % 22.98 % Ratios to Average Net Assets (Annualized) Total expenses 1.92 % 2.76 % 3.03 % Total expenses, net 1.78 % 1.96 % 2.34 % Net investment loss (0.10 )% (1.79 )% (1.89 )% |
Schedule of Investments - Teu_8
Schedule of Investments - Teucrium Sugar Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 28,382,122 $ 28,382,122 6.10 % 28,382,122 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 160,258,295 160,258,295 34.44 160,258,295 Total money market funds $ 188,640,417 $ 188,640,417 40.54 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 1.07 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 14,877,488 14,968,886 3.22 15,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % 4,959,225 4,989,644 1.07 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 9,935,000 9,972,500 2.14 10,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 9,899,472 9,943,862 2.14 10,000,000 Crown Castle Inc. January 10, 2023 4.877 % 7,443,000 7,491,000 1.61 7,500,000 Crown Castle Inc. January 12, 2023 4.765 % 12,449,410 12,482,050 2.68 12,500,000 Entergy Corporation January 4, 2023 4.311 % 9,926,808 9,996,460 2.15 10,000,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 12,400,060 12,486,207 2.68 12,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 7,418,417 7,484,417 1.61 7,500,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 2.15 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 5,461,843 5,491,823 1.18 5,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 5,263,032 5,298,631 1.14 5,300,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 1.61 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 4,959,561 4,977,688 1.07 5,000,000 Humana Inc. January 9, 2023 4.670 % 7,448,250 7,492,333 1.61 7,500,000 Hyundai Capital America January 10, 2023 4.000 % 9,903,645 9,990,145 2.15 10,000,000 ITT Inc. January 19, 2023 4.475 % 4,965,088 4,988,975 1.07 5,000,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 1.07 5,000,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 1.07 5,000,000 Oracle Corporation January 17, 2023 4.361 % 9,931,919 9,980,889 2.14 10,000,000 V.F. Corporation January 17, 2023 4.364 % 4,959,390 4,990,444 1.07 5,000,000 V.F. Corporation February 2, 2023 4.669 % 6,456,811 6,473,422 1.39 6,500,000 VW Credit, Inc. January 19, 2023 4.434 % 7,448,106 7,483,613 1.61 7,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 4,970,188 4,971,512 1.07 5,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 4,959,098 4,961,736 1.07 5,000,000 Total Commercial Paper $ 198,351,250 $ 199,360,060 42.84 % Total Cash Equivalents $ 388,000,477 83.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 0.34 % $ 45,779,763 United States soybean futures contracts CBOT soybean futures MAR23 268 642,912 0.14 20,421,600 CBOT soybean futures MAY23 229 807,218 0.17 17,518,500 CBOT soybean futures NOV23 289 1,070,240 0.23 20,472,038 United States sugar futures contracts ICE sugar futures MAY23 401 356,963 0.08 8,407,526 ICE sugar futures JUL23 362 554,366 0.12 7,289,811 United States wheat futures contracts CBOT wheat futures JUL23 1,711 3,160,732 0.68 68,696,650 United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 24,979 0.01 496,050 CME Bitcoin futures FEB23 7 4,173 0.00 575,575 Total commodity and cryptocurrency futures contracts $ 8,207,381 1.77 % $ 189,657,513 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.16 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 0.48 53,440,625 United States sugar futures contracts ICE sugar futures MAR24 427 85,128 0.02 8,565,278 United States wheat futures contracts CBOT wheat futures MAY23 2,005 7,079,231 1.52 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 4.15 80,220,450 Total commodity and cryptocurrency futures contracts $ 29,433,069 6.33 % $ 275,693,541 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 9,885,980 2.12 % 367,555 Teucrium Soybean Fund 9,921,042 2.13 348,075 Teucrium Sugar Fund 9,745,653 2.09 1,024,284 Teucrium Wheat Fund 10,020,023 2.15 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 8.49 % Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 30,443,449 $ 30,443,449 11.52 % 30,443,449 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,525,384 2,525,384 0.96 2,525,384 Total money market funds $ 32,968,833 $ 32,968,833 12.48 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 9,996,324 $ 9,998,489 3.78 % 10,000,000 Albemarle Corporation January 11, 2022 0.200 % 4,998,834 4,999,722 1.89 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 0.95 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 7,497,300 7,499,867 2.84 7,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 4,998,710 4,999,646 1.89 5,000,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 4,998,000 4,999,889 1.89 5,000,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 9,995,111 9,998,333 3.78 10,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 4,998,800 4,999,956 1.89 5,000,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 9,996,061 9,999,444 3.78 10,000,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 4,997,876 4,999,268 1.89 5,000,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 4,997,328 4,997,918 1.89 5,000,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 1.89 5,000,000 Jabil Inc. January 20, 2022 0.250 % 2,499,219 2,499,670 0.95 2,500,000 Jabil Inc. February 8, 2022 0.300 % 7,496,063 7,497,625 2.84 7,500,000 Jabil Inc. February 25, 2022 0.310 % 4,996,900 4,997,632 1.89 5,000,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 1.89 5,000,000 Viatris Inc. February 11, 2022 0.300 % 4,996,625 4,998,292 1.89 5,000,000 Viatris Inc. March 1, 2022 0.310 % 4,996,986 4,997,460 1.89 5,000,000 Viatris Inc. January 21, 2022 0.200 % 4,998,584 4,999,444 1.89 5,000,000 WGL Holdings, Inc. January 12, 2022 0.220 % 4,998,686 4,999,664 1.89 5,000,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 1.89 5,000,000 Total Commercial Paper $ 119,951,019 $ 119,980,366 45.38 % Total Cash Equivalents $ 152,949,199 57.86 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 1.43 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.07 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 0.75 42,533,400 United States soybean futures contracts CBOT soybean futures MAR22 234 591,547 0.22 15,669,225 CBOT soybean futures MAY22 199 1,008,504 0.38 13,422,550 CBOT soybean futures NOV22 250 1,084,800 0.41 15,865,625 United States sugar futures contracts ICE sugar futures MAY22 381 225,299 0.09 7,936,992 ICE sugar futures MAR23 392 853,927 0.32 8,091,507 United States wheat futures contracts CBOT wheat futures MAY22 687 1,809,796 0.68 26,595,488 CBOT wheat futures DEC22 686 1,904,876 0.72 26,411,000 Total commodity futures contracts $ 13,415,301 5.07 % $ 234,855,437 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.03 % $ 6,817,541 United States wheat futures contracts CBOT wheat futures JUL22 593 654,969 0.25 22,667,425 Total commodity futures contracts $ 735,475 0.28 % $ 29,484,966 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,537,560 1.34 % 163,930 Teucrium Soybean Fund 3,538,006 1.34 155,374 Teucrium Sugar Fund 3,591,878 1.36 389,317 Teucrium Wheat Fund 3,510,575 1.33 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 5.37 % |
Teucrium Sugar Fund [Member] | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 5,634,177 $ 5,634,177 23.22 % 5,634,177 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 4,286,322 4,286,322 17.67 4,286,322 Total Money Market Funds $ 9,920,499 $ 9,920,499 40.89 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Entergy Corporation January 4, 2023 4.311 % $ 2,481,702 $ 2,499,115 10.30 % 2,500,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 2,475,149 2,497,369 10.29 2,500,000 Glencore Funding LLC January 13, 2023 4.526 % 2,482,656 2,496,283 10.29 2,500,000 VW Credit, Inc. January 19, 2023 4.434 % 2,482,702 2,494,537 10.28 2,500,000 Total Commercial Paper $ 9,922,209 $ 9,987,304 41.16 % Total Cash Equivalents $ 19,907,803 82.05 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures MAY23 401 $ 356,963 1.47 % $ 8,407,526 ICE sugar futures JUL23 362 554,366 2.29 7,289,811 Total commodity futures contracts $ 911,329 3.76 % $ 15,697,337 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures MAR24 427 $ 85,128 0.35 % $ 8,565,278 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 4,808,415 $ 4,808,415 21.06 % 4,808,415 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 8,468 8,468 0.04 8,468 Total Money Market Funds $ 4,816,883 $ 4,816,883 21.10 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Jabil Inc. January 20, 2022 0.250 % $ 2,499,219 $ 2,499,670 10.95 2,500,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 21.89 5,000,000 Total Commercial Paper $ 7,497,919 $ 7,499,540 32.84 % Total Cash Equivalents $ 12,316,423 53.94 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures MAY22 381 $ 225,299 0.99 % $ 7,936,992 ICE sugar futures MAR23 392 853,927 3.74 8,091,507 Total commodity futures contracts $ 1,079,226 4.73 % $ 16,028,499 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.35 % $ 6,817,541 |
Note 1 - Organization and Op_10
Note 1 - Organization and Operation - Teucrium Sugar Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Sugar Fund [Member] | |
Notes Tables | |
Schedule of Benchmark Percentages [Table Text Block] | ICE Sugar Futures Contract Weighting Second to expire 35% Third to expire 30% Expiring in the March following the expiration of the third to expire contract 35% |
Note 2 - Principal Contracts_11
Note 2 - Principal Contracts and Agreements - Teucrium Sugar Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 410,660 $ 363,000 $ 369,293 Amount of Custody Services Waived $ 42,625 $ 120,850 $ 71,342 Amount Recognized for Distribution Services $ 200,313 $ 186,531 $ 180,024 Amount of Distribution Services Waived $ 48,593 $ 94,724 $ 68,140 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 550 $ 991 $ 2,215 Amount Recognized for Thales $ 278,958 $ 297,222 $ 116,901 Amount of Thales Waived $ 106,944 $ 153,198 $ 57,988 |
Teucrium Sugar Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 15,692 $ 18,782 $ 22,168 Amount of Custody Services Waived $ 1,068 $ 9,186 $ 10,306 Amount Recognized for Distribution Services $ 8,636 $ 10,036 $ 9,928 Amount of Distribution Services Waived $ 3,331 $ 6,027 $ 6,200 Amount Recognized for Wilmington Trust $ 550 $ 252 $ 139 Amount of Wilmington Trust Waived $ - $ 252 $ 139 Amount Recognized for Thales $ 12,926 $ 14,554 $ 6,364 Amount of Thales Waived $ 4,427 $ 9,114 $ 4,770 |
Note 3 - Summary of Signific_11
Note 3 - Summary of Significant Accounting Policies - Teucrium Sugar Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Year Ending December 31, 2022 $ 217,050 $ 27,011 $ 33,469 $ 387,999 $ - $ 2,217 $ 667,746 Year Ending December 31, 2021 $ 141,674 $ 29,889 $ 21,123 $ 47,448 $ - $ - $ 240,134 Year Ending December 31, 2020 $ 149,619 $ 35,880 $ 14,681 $ 40,741 $ 1 $ - $ 240,922 |
Schedule of Cash and Cash Equivalents [Table Text Block] | As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 188,640,417 $ 32,968,833 $ 61,121,678 Demand Deposit Savings Accounts 46,061,819 99,262,744 95,809,411 Commercial Paper 199,360,060 119,980,366 152,447,206 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 434,062,296 $ 252,211,943 $ 309,378,295 |
Schedule of Related Party Transactions [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 2,721,842 $ 2,321,539 $ 2,279,672 Waived Related Party Transactions $ 518,599 $ 1,052,715 $ 775,432 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 |
Teucrium Sugar Fund [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CANE Year Ending December 31, 2022 $ 33,469 Year Ending December 31, 2021 $ 21,123 Year Ending December 31, 2020 $ 14,681 |
Schedule of Cash and Cash Equivalents [Table Text Block] | As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 9,920,499 $ 4,816,883 $ 4,153,164 Demand Deposit Savings Accounts 3,069,677 9,016,479 5,197,140 Commercial Paper 9,987,304 7,499,540 2,499,028 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 22,977,480 $ 21,332,902 $ 11,849,332 |
Schedule of Related Party Transactions [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 119,244 $ 124,660 $ 126,960 Waived Related Party Transactions $ 25,739 $ 48,034 $ 50,547 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CANE Year Ended December 31, 2022 $ 78,237 Year Ended December 31, 2021 $ 134,294 Year Ended December 31, 2020 $ 210,614 |
Note 4 - Fair Value Measurem_11
Note 4 - Fair Value Measurements - Teucrium Sugar Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 388,000,477 $ - $ - $ 388,000,477 Commodity and Cryptocurrency Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Soybean futures contracts 2,520,370 - - 2,520,370 Sugar futures contracts 911,329 - - 911,329 Wheat futures contracts 3,160,732 - - 3,160,732 Bitcoin futures contracts 29,152 - - 29,152 Total $ 396,207,858 $ - $ - $ 396,207,858 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Sugar futures contracts 85,128 - - 85,128 Wheat futures contracts 26,380,838 - - 26,380,838 Total $ 29,433,069 $ - $ - $ 29,433,069 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 152,949,199 $ - $ - $ 152,949,199 Commodity Futures Contracts Corn futures contracts 5,936,552 - - 5,936,552 Soybean futures contracts 2,684,851 - - 2,684,851 Sugar futures contracts 1,079,226 - - 1,079,226 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 166,364,500 $ - $ - $ 166,364,500 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Commodity Futures Contracts Sugar futures contracts $ 80,506 $ - $ - $ 80,506 Wheat futures contracts 654,969 - - 654,969 Total $ 735,475 $ - $ - $ 735,475 |
Teucrium Sugar Fund [Member] | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 19,907,803 $ - $ - $ 19,907,803 Sugar futures contracts 911,329 - - 911,329 Total $ 20,819,132 $ - $ - $ 20,819,132 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Sugar futures contracts $ 85,128 $ - $ - $ 85,128 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 12,316,423 $ - $ - $ 12,316,423 Sugar futures contracts 1,079,226 - - 1,079,226 Total $ 13,395,649 $ - $ - $ 13,395,649 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Sugar futures contracts $ 80,506 $ - $ - $ 80,506 |
Note 5 - Derivative Instrume_10
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Sugar Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 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 (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 $ - (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 Corn futures contracts $ 5,936,552 $ - $ 5,936,552 $ - $ - $ 5,936,552 Soybean futures contracts $ 2,684,851 $ - $ 2,684,851 $ - $ 675,169 $ 2,009,682 Sugar futures contracts $ 1,079,226 $ - $ 1,079,226 $ 80,506 $ - $ 998,720 Wheat futures contracts $ 3,714,672 $ - $ 3,714,672 $ 654,969 $ 213,708 $ 2,845,995 (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 $ 80,506 $ - $ 80,506 $ 80,506 $ - $ - Wheat futures contracts $ 654,969 $ - $ 654,969 $ 654,969 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Gain (Loss) on Commodity and Cryptocurrency Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity and Cryptocurrency Futures Contracts Commodity and Cryptocurrency Price Corn futures contracts $ 28,784,977 $ (7,317,857 ) Soybean futures contracts 10,362,032 (164,481 ) Sugar futures contracts (442,477 ) (172,519 ) Wheat futures contracts (81,457,408 ) (26,279,809 ) Bitcoin futures contracts (423,794 ) 29,152 Total commodity futures contracts $ (43,176,670 ) $ (33,905,514 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 65,827,118 $ (14,218,054 ) Soybean futures contracts 27,370,674 (12,439,375 ) Sugar futures contracts 6,223,228 (408,983 ) Wheat futures contracts 18,418,461 (2,678,459 ) Total commodity futures contracts $ 117,839,481 $ (29,744,871 ) Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 5,882,216 $ 19,371,125 Soybean futures contracts 14,404,714 14,192,330 Sugar futures contracts (656,937 ) 1,060,274 Wheat futures contracts 5,461,905 669,686 Total commodity futures contracts $ 25,091,898 $ 35,293,415 |
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 $ 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 $ - $ - (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 $ 1,079,226 $ - $ 1,079,226 $ 80,506 $ - $ 998,720 (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 $ 80,506 $ - $ 80,506 $ 80,506 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ (442,477 ) $ (172,519 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ 6,223,228 $ (408,983 ) Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ (656,937 ) $ 1,060,274 |
Note 6 - Financial Highlights_8
Note 6 - Financial Highlights - Teucrium Sugar Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Sugar Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Year ended Year ended Year ended December 31, 2022 December 31, 2021 December 31, 2020 Per Share Operation Performance Net asset value at beginning of period $ 9.23 $ 6.72 $ 7.04 Income (loss) from investment operations: Investment income 0.15 0.01 0.04 Net realized and unrealized gain (loss) on commodity futures contracts 0.31 2.65 (0.20 ) Total expenses, net (0.18 ) (0.15 ) (0.16 ) Net increase (decrease) in net asset value 0.28 2.51 (0.32 ) Net asset value at end of period $ 9.51 $ 9.23 $ 6.72 Total Return 3.13 % 37.31 % (4.51 )% Ratios to Average Net Assets (Annualized) Total expenses 2.12 % 2.49 % 4.67 % Total expenses, net 1.84 % 1.84 % 2.64 % Net investment loss (0.21 )% (1.70 )% (1.98 )% |
Schedule of Investments - Teu_9
Schedule of Investments - Teucrium Wheat Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 28,382,122 $ 28,382,122 6.10 % 28,382,122 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 160,258,295 160,258,295 34.44 160,258,295 Total money market funds $ 188,640,417 $ 188,640,417 40.54 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 1.07 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 14,877,488 14,968,886 3.22 15,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % 4,959,225 4,989,644 1.07 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 9,935,000 9,972,500 2.14 10,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 9,899,472 9,943,862 2.14 10,000,000 Crown Castle Inc. January 10, 2023 4.877 % 7,443,000 7,491,000 1.61 7,500,000 Crown Castle Inc. January 12, 2023 4.765 % 12,449,410 12,482,050 2.68 12,500,000 Entergy Corporation January 4, 2023 4.311 % 9,926,808 9,996,460 2.15 10,000,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 12,400,060 12,486,207 2.68 12,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 7,418,417 7,484,417 1.61 7,500,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 2.15 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 5,461,843 5,491,823 1.18 5,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 5,263,032 5,298,631 1.14 5,300,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 1.61 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 4,959,561 4,977,688 1.07 5,000,000 Humana Inc. January 9, 2023 4.670 % 7,448,250 7,492,333 1.61 7,500,000 Hyundai Capital America January 10, 2023 4.000 % 9,903,645 9,990,145 2.15 10,000,000 ITT Inc. January 19, 2023 4.475 % 4,965,088 4,988,975 1.07 5,000,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 1.07 5,000,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 1.07 5,000,000 Oracle Corporation January 17, 2023 4.361 % 9,931,919 9,980,889 2.14 10,000,000 V.F. Corporation January 17, 2023 4.364 % 4,959,390 4,990,444 1.07 5,000,000 V.F. Corporation February 2, 2023 4.669 % 6,456,811 6,473,422 1.39 6,500,000 VW Credit, Inc. January 19, 2023 4.434 % 7,448,106 7,483,613 1.61 7,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 4,970,188 4,971,512 1.07 5,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 4,959,098 4,961,736 1.07 5,000,000 Total Commercial Paper $ 198,351,250 $ 199,360,060 42.84 % Total Cash Equivalents $ 388,000,477 83.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 0.34 % $ 45,779,763 United States soybean futures contracts CBOT soybean futures MAR23 268 642,912 0.14 20,421,600 CBOT soybean futures MAY23 229 807,218 0.17 17,518,500 CBOT soybean futures NOV23 289 1,070,240 0.23 20,472,038 United States sugar futures contracts ICE sugar futures MAY23 401 356,963 0.08 8,407,526 ICE sugar futures JUL23 362 554,366 0.12 7,289,811 United States wheat futures contracts CBOT wheat futures JUL23 1,711 3,160,732 0.68 68,696,650 United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 24,979 0.01 496,050 CME Bitcoin futures FEB23 7 4,173 0.00 575,575 Total commodity and cryptocurrency futures contracts $ 8,207,381 1.77 % $ 189,657,513 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.16 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 0.48 53,440,625 United States sugar futures contracts ICE sugar futures MAR24 427 85,128 0.02 8,565,278 United States wheat futures contracts CBOT wheat futures MAY23 2,005 7,079,231 1.52 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 4.15 80,220,450 Total commodity and cryptocurrency futures contracts $ 29,433,069 6.33 % $ 275,693,541 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 9,885,980 2.12 % 367,555 Teucrium Soybean Fund 9,921,042 2.13 348,075 Teucrium Sugar Fund 9,745,653 2.09 1,024,284 Teucrium Wheat Fund 10,020,023 2.15 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 8.49 % Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 30,443,449 $ 30,443,449 11.52 % 30,443,449 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,525,384 2,525,384 0.96 2,525,384 Total money market funds $ 32,968,833 $ 32,968,833 12.48 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 9,996,324 $ 9,998,489 3.78 % 10,000,000 Albemarle Corporation January 11, 2022 0.200 % 4,998,834 4,999,722 1.89 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 0.95 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 7,497,300 7,499,867 2.84 7,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 4,998,710 4,999,646 1.89 5,000,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 4,998,000 4,999,889 1.89 5,000,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 9,995,111 9,998,333 3.78 10,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 4,998,800 4,999,956 1.89 5,000,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 9,996,061 9,999,444 3.78 10,000,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 4,997,876 4,999,268 1.89 5,000,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 4,997,328 4,997,918 1.89 5,000,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 1.89 5,000,000 Jabil Inc. January 20, 2022 0.250 % 2,499,219 2,499,670 0.95 2,500,000 Jabil Inc. February 8, 2022 0.300 % 7,496,063 7,497,625 2.84 7,500,000 Jabil Inc. February 25, 2022 0.310 % 4,996,900 4,997,632 1.89 5,000,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 1.89 5,000,000 Viatris Inc. February 11, 2022 0.300 % 4,996,625 4,998,292 1.89 5,000,000 Viatris Inc. March 1, 2022 0.310 % 4,996,986 4,997,460 1.89 5,000,000 Viatris Inc. January 21, 2022 0.200 % 4,998,584 4,999,444 1.89 5,000,000 WGL Holdings, Inc. January 12, 2022 0.220 % 4,998,686 4,999,664 1.89 5,000,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 1.89 5,000,000 Total Commercial Paper $ 119,951,019 $ 119,980,366 45.38 % Total Cash Equivalents $ 152,949,199 57.86 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 1.43 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.07 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 0.75 42,533,400 United States soybean futures contracts CBOT soybean futures MAR22 234 591,547 0.22 15,669,225 CBOT soybean futures MAY22 199 1,008,504 0.38 13,422,550 CBOT soybean futures NOV22 250 1,084,800 0.41 15,865,625 United States sugar futures contracts ICE sugar futures MAY22 381 225,299 0.09 7,936,992 ICE sugar futures MAR23 392 853,927 0.32 8,091,507 United States wheat futures contracts CBOT wheat futures MAY22 687 1,809,796 0.68 26,595,488 CBOT wheat futures DEC22 686 1,904,876 0.72 26,411,000 Total commodity futures contracts $ 13,415,301 5.07 % $ 234,855,437 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.03 % $ 6,817,541 United States wheat futures contracts CBOT wheat futures JUL22 593 654,969 0.25 22,667,425 Total commodity futures contracts $ 735,475 0.28 % $ 29,484,966 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,537,560 1.34 % 163,930 Teucrium Soybean Fund 3,538,006 1.34 155,374 Teucrium Sugar Fund 3,591,878 1.36 389,317 Teucrium Wheat Fund 3,510,575 1.33 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 5.37 % |
Teucrium Wheat Fund [Member] | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 8,255,546 $ 8,255,546 3.61 % 8,255,546 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 91,570,730 91,570,730 39.99 91,570,730 Total money market funds $ 99,826,276 $ 99,826,276 43.60 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 2.18 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 7,438,744 7,484,443 3.27 7,500,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 4,967,500 4,986,250 2.18 5,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 4,949,736 4,971,931 2.17 5,000,000 Crown Castle Inc. January 10, 2023 4.877 % 2,481,000 2,497,000 1.09 2,500,000 Crown Castle Inc. January 12, 2023 4.765 % 4,979,764 4,992,820 2.18 5,000,000 Entergy Corporation January 4, 2023 4.311 % 2,481,702 2,499,115 1.09 2,500,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 2,475,149 2,497,369 1.09 2,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 4,945,611 4,989,611 2.18 5,000,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 4.36 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 2,979,187 2,995,540 1.31 3,000,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 2,780,470 2,799,277 1.22 2,800,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 2,479,780 2,488,844 1.09 2,500,000 Humana Inc. January 9, 2023 4.670 % 4,965,500 4,994,889 2.18 5,000,000 Hyundai Capital America January 10, 2023 4.000 % 7,427,734 7,492,609 3.27 7,500,000 ITT Inc. January 19, 2023 4.475 % 2,482,544 2,494,488 1.09 2,500,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 2.18 5,000,000 Oracle Corporation January 17, 2023 4.361 % 7,448,939 7,485,667 3.27 7,500,000 V.F. Corporation January 17, 2023 4.364 % 2,479,695 2,495,222 1.09 2,500,000 V.F. Corporation February 2, 2023 4.669 % 1,986,711 1,991,822 0.87 2,000,000 VW Credit, Inc. January 19, 2023 4.434 % 2,482,702 2,494,538 1.09 2,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 2,485,094 2,485,756 1.09 2,500,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 2,479,549 2,480,868 1.08 2,500,000 Total Commercial Paper $ 97,073,593 $ 97,594,565 42.62 % Total Cash Equivalents $ 197,420,841 86.22 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States wheat futures contracts CBOT wheat futures JUL23 1,711 $ 3,160,732 1.38 % $ 68,696,650 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States wheat futures contracts CBOT wheat futures MAY23 2,005 $ 7,079,231 3.09 % $ 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 8.43 80,220,450 Total commodity futures contracts $ 26,380,838 11.52 % $ 160,295,138 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 5,281,765 $ 5,281,765 6.99 % 5,281,765 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 3,228 3,228 0.00 3,228 Total money market funds $ 5,284,993 $ 5,284,993 6.99 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 2,499,081 $ 2,499,622 3.30 % 2,500,000 Albemarle Corporation January 11, 2022 0.200 % 2,499,417 2,499,861 3.31 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 3.31 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 2,499,300 2,499,956 3.31 2,500,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 2,499,000 2,499,945 3.31 2,500,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 2,498,778 2,499,583 3.30 2,500,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 2,499,015 2,499,861 3.31 2,500,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 2,498,938 2,499,634 3.31 2,500,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 2,498,664 2,498,959 3.30 2,500,000 Jabil Inc. February 8, 2022 0.300 % 2,498,688 2,499,208 3.30 2,500,000 Jabil Inc. February 25, 2022 0.310 % 2,498,450 2,498,816 3.30 2,500,000 Viatris Inc. February 11, 2022 0.300 % 2,498,313 2,499,146 3.30 2,500,000 Viatris Inc. January 21, 2011 0.200 % 2,499,292 2,499,722 3.31 2,500,000 Viatris Inc. March 1, 2022 0.310 % 2,498,493 2,498,730 3.30 2,500,000 WGL Holdings, Inc. January 12, 2022 0.220 % 2,499,343 2,499,832 3.31 2,500,000 Total Commercial Paper $ 37,483,793 $ 37,492,592 49.58 % Total Cash Equivalents $ 42,777,585 56.57 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States wheat futures contracts CBOT wheat futures MAY22 687 $ 1,809,796 2.39 % $ 26,595,488 CBOT wheat futures DEC22 686 1,904,876 2.52 26,411,000 Total commodity futures contracts $ 3,714,672 4.91 % $ 53,006,488 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States wheat futures contracts CBOT wheat futures JUL22 593 $ 654,969 0.87 % $ 22,667,425 |
Note 1 - Organization and Op_11
Note 1 - Organization and Operation - Teucrium Wheat Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Wheat Fund [Member] | |
Notes Tables | |
Schedule of Benchmark Percentages [Table Text Block] | CBOT Wheat Futures Contract Weighting Second to expire 35% Third to expire 30% December following the third to expire 35% |
Note 2 - Principal Contracts_12
Note 2 - Principal Contracts and Agreements - Teucrium Wheat Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 410,660 $ 363,000 $ 369,293 Amount of Custody Services Waived $ 42,625 $ 120,850 $ 71,342 Amount Recognized for Distribution Services $ 200,313 $ 186,531 $ 180,024 Amount of Distribution Services Waived $ 48,593 $ 94,724 $ 68,140 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 550 $ 991 $ 2,215 Amount Recognized for Thales $ 278,958 $ 297,222 $ 116,901 Amount of Thales Waived $ 106,944 $ 153,198 $ 57,988 |
Teucrium Wheat Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 228,096 $ 74,742 $ 84,306 Amount of Custody Services Waived $ 14,164 $ 14,267 $ 5,939 Amount Recognized for Distribution Services $ 102,332 $ 38,391 $ 39,577 Amount of Distribution Services Waived $ 14,931 $ 20,120 $ 9,177 Amount Recognized for Wilmington Trust $ 550 $ 789 $ 565 Amount of Wilmington Trust Waived $ - $ - $ 565 Amount Recognized for Thales $ 135,043 $ 59,673 $ 24,841 Amount of Thales Waived $ 66,481 $ 26,449 $ 8,462 |
Note 3 - Summary of Signific_12
Note 3 - Summary of Significant Accounting Policies - Teucrium Wheat Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Year Ending December 31, 2022 $ 217,050 $ 27,011 $ 33,469 $ 387,999 $ - $ 2,217 $ 667,746 Year Ending December 31, 2021 $ 141,674 $ 29,889 $ 21,123 $ 47,448 $ - $ - $ 240,134 Year Ending December 31, 2020 $ 149,619 $ 35,880 $ 14,681 $ 40,741 $ 1 $ - $ 240,922 |
Schedule of Cash and Cash Equivalents [Table Text Block] | As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 188,640,417 $ 32,968,833 $ 61,121,678 Demand Deposit Savings Accounts 46,061,819 99,262,744 95,809,411 Commercial Paper 199,360,060 119,980,366 152,447,206 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 434,062,296 $ 252,211,943 $ 309,378,295 |
Schedule of Related Party Transactions [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 2,721,842 $ 2,321,539 $ 2,279,672 Waived Related Party Transactions $ 518,599 $ 1,052,715 $ 775,432 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 |
Teucrium Wheat Fund [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | WEAT Year Ending December 31, 2022 $ 387,999 Year Ending December 31, 2021 $ 47,448 Year Ending December 31, 2020 $ 40,741 |
Schedule of Cash and Cash Equivalents [Table Text Block] | As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Money Market Funds $ 99,826,276 $ 5,284,993 $ 16,227,402 Demand Deposit Savings Accounts 12,309,984 30,064,031 17,730,566 Commercial Paper 97,594,565 37,492,592 34,988,757 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 209,730,825 $ 72,841,616 $ 68,946,725 |
Schedule of Related Party Transactions [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 1,388,272 $ 478,989 $ 503,823 Waived Related Party Transactions $ 224,587 $ 134,898 $ 27,789 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | WEAT Year Ended December 31, 2022 $ 425,164 Year Ended December 31, 2021 $ 307,565 Year Ended December 31, 2020 $ 81,190 |
Note 4 - Fair Value Measurem_12
Note 4 - Fair Value Measurements - Teucrium Wheat Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 388,000,477 $ - $ - $ 388,000,477 Commodity and Cryptocurrency Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Soybean futures contracts 2,520,370 - - 2,520,370 Sugar futures contracts 911,329 - - 911,329 Wheat futures contracts 3,160,732 - - 3,160,732 Bitcoin futures contracts 29,152 - - 29,152 Total $ 396,207,858 $ - $ - $ 396,207,858 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Sugar futures contracts 85,128 - - 85,128 Wheat futures contracts 26,380,838 - - 26,380,838 Total $ 29,433,069 $ - $ - $ 29,433,069 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 152,949,199 $ - $ - $ 152,949,199 Commodity Futures Contracts Corn futures contracts 5,936,552 - - 5,936,552 Soybean futures contracts 2,684,851 - - 2,684,851 Sugar futures contracts 1,079,226 - - 1,079,226 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 166,364,500 $ - $ - $ 166,364,500 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Commodity Futures Contracts Sugar futures contracts $ 80,506 $ - $ - $ 80,506 Wheat futures contracts 654,969 - - 654,969 Total $ 735,475 $ - $ - $ 735,475 |
Teucrium Wheat Fund [Member] | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 197,420,841 $ - $ - $ 197,420,841 Wheat futures contracts 3,160,732 - - 3,160,732 Total $ 200,581,573 $ - $ - $ 200,581,573 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Wheat futures contracts $ 26,380,838 $ - $ - $ 26,380,838 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 42,777,585 $ - $ - $ 42,777,585 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 46,492,257 $ - $ - $ 46,492,257 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Wheat futures contracts $ 654,969 $ - $ - $ 654,969 |
Note 5 - Derivative Instrume_11
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Wheat Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 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 (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 $ - (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 Corn futures contracts $ 5,936,552 $ - $ 5,936,552 $ - $ - $ 5,936,552 Soybean futures contracts $ 2,684,851 $ - $ 2,684,851 $ - $ 675,169 $ 2,009,682 Sugar futures contracts $ 1,079,226 $ - $ 1,079,226 $ 80,506 $ - $ 998,720 Wheat futures contracts $ 3,714,672 $ - $ 3,714,672 $ 654,969 $ 213,708 $ 2,845,995 (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 $ 80,506 $ - $ 80,506 $ 80,506 $ - $ - Wheat futures contracts $ 654,969 $ - $ 654,969 $ 654,969 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Gain (Loss) on Commodity and Cryptocurrency Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity and Cryptocurrency Futures Contracts Commodity and Cryptocurrency Price Corn futures contracts $ 28,784,977 $ (7,317,857 ) Soybean futures contracts 10,362,032 (164,481 ) Sugar futures contracts (442,477 ) (172,519 ) Wheat futures contracts (81,457,408 ) (26,279,809 ) Bitcoin futures contracts (423,794 ) 29,152 Total commodity futures contracts $ (43,176,670 ) $ (33,905,514 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 65,827,118 $ (14,218,054 ) Soybean futures contracts 27,370,674 (12,439,375 ) Sugar futures contracts 6,223,228 (408,983 ) Wheat futures contracts 18,418,461 (2,678,459 ) Total commodity futures contracts $ 117,839,481 $ (29,744,871 ) Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 5,882,216 $ 19,371,125 Soybean futures contracts 14,404,714 14,192,330 Sugar futures contracts (656,937 ) 1,060,274 Wheat futures contracts 5,461,905 669,686 Total commodity futures contracts $ 25,091,898 $ 35,293,415 |
Teucrium Wheat 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 Wheat futures contracts $ 3,160,732 $ - $ 3,160,732 $ 3,160,732 $ - $ - (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 Wheat futures contracts $ 26,380,838 $ - $ 26,380,838 $ 3,160,732 $ 23,220,106 $ - (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 Wheat futures contracts $ 3,714,672 $ - $ 3,714,672 $ 654,969 $ 213,708 $ 2,845,995 (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 Wheat futures contracts $ 654,969 $ - $ 654,969 $ 654,969 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ (81,457,408 ) $ (26,279,809 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ 18,418,461 $ (2,678,459 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ 5,461,905 $ 669,686 |
Note 6 - Financial Highlights_9
Note 6 - Financial Highlights - Teucrium Wheat Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Wheat Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Year ended Year ended Year ended December 31, 2022 December 31, 2021 December 31, 2020 Per Share Operation Performance Net asset value at beginning of period $ 7.38 $ 6.16 $ 5.84 Income (loss) from investment operations: Investment income 0.15 0.01 0.04 Net realized and unrealized gain on commodity futures contracts 0.63 1.34 0.44 Total expenses, net (0.17 ) (0.13 ) (0.16 ) Net increase in net asset value 0.61 1.22 0.32 Net asset value at end of period $ 7.99 $ 7.38 $ 6.16 Total Return 8.23 % 19.84 % 5.48 % Ratios to Average Net Assets (Annualized) Total expenses 1.90 % 2.27 % 2.98 % Total expenses, net 1.78 % 1.89 % 2.84 % Net investment loss (0.20 )% (1.73 )% (2.09 )% |
Schedule of Investments - Te_10
Schedule of Investments - Teucrium Agricultural Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 28,382,122 $ 28,382,122 6.10 % 28,382,122 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 160,258,295 160,258,295 34.44 160,258,295 Total money market funds $ 188,640,417 $ 188,640,417 40.54 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 1.07 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 14,877,488 14,968,886 3.22 15,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % 4,959,225 4,989,644 1.07 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 9,935,000 9,972,500 2.14 10,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 9,899,472 9,943,862 2.14 10,000,000 Crown Castle Inc. January 10, 2023 4.877 % 7,443,000 7,491,000 1.61 7,500,000 Crown Castle Inc. January 12, 2023 4.765 % 12,449,410 12,482,050 2.68 12,500,000 Entergy Corporation January 4, 2023 4.311 % 9,926,808 9,996,460 2.15 10,000,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 12,400,060 12,486,207 2.68 12,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 7,418,417 7,484,417 1.61 7,500,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 2.15 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 5,461,843 5,491,823 1.18 5,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 5,263,032 5,298,631 1.14 5,300,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 1.61 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 4,959,561 4,977,688 1.07 5,000,000 Humana Inc. January 9, 2023 4.670 % 7,448,250 7,492,333 1.61 7,500,000 Hyundai Capital America January 10, 2023 4.000 % 9,903,645 9,990,145 2.15 10,000,000 ITT Inc. January 19, 2023 4.475 % 4,965,088 4,988,975 1.07 5,000,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 1.07 5,000,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 1.07 5,000,000 Oracle Corporation January 17, 2023 4.361 % 9,931,919 9,980,889 2.14 10,000,000 V.F. Corporation January 17, 2023 4.364 % 4,959,390 4,990,444 1.07 5,000,000 V.F. Corporation February 2, 2023 4.669 % 6,456,811 6,473,422 1.39 6,500,000 VW Credit, Inc. January 19, 2023 4.434 % 7,448,106 7,483,613 1.61 7,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 4,970,188 4,971,512 1.07 5,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 4,959,098 4,961,736 1.07 5,000,000 Total Commercial Paper $ 198,351,250 $ 199,360,060 42.84 % Total Cash Equivalents $ 388,000,477 83.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 0.34 % $ 45,779,763 United States soybean futures contracts CBOT soybean futures MAR23 268 642,912 0.14 20,421,600 CBOT soybean futures MAY23 229 807,218 0.17 17,518,500 CBOT soybean futures NOV23 289 1,070,240 0.23 20,472,038 United States sugar futures contracts ICE sugar futures MAY23 401 356,963 0.08 8,407,526 ICE sugar futures JUL23 362 554,366 0.12 7,289,811 United States wheat futures contracts CBOT wheat futures JUL23 1,711 3,160,732 0.68 68,696,650 United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 24,979 0.01 496,050 CME Bitcoin futures FEB23 7 4,173 0.00 575,575 Total commodity and cryptocurrency futures contracts $ 8,207,381 1.77 % $ 189,657,513 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.16 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 0.48 53,440,625 United States sugar futures contracts ICE sugar futures MAR24 427 85,128 0.02 8,565,278 United States wheat futures contracts CBOT wheat futures MAY23 2,005 7,079,231 1.52 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 4.15 80,220,450 Total commodity and cryptocurrency futures contracts $ 29,433,069 6.33 % $ 275,693,541 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 9,885,980 2.12 % 367,555 Teucrium Soybean Fund 9,921,042 2.13 348,075 Teucrium Sugar Fund 9,745,653 2.09 1,024,284 Teucrium Wheat Fund 10,020,023 2.15 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 8.49 % Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 30,443,449 $ 30,443,449 11.52 % 30,443,449 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,525,384 2,525,384 0.96 2,525,384 Total money market funds $ 32,968,833 $ 32,968,833 12.48 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 9,996,324 $ 9,998,489 3.78 % 10,000,000 Albemarle Corporation January 11, 2022 0.200 % 4,998,834 4,999,722 1.89 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 0.95 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 7,497,300 7,499,867 2.84 7,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 4,998,710 4,999,646 1.89 5,000,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 4,998,000 4,999,889 1.89 5,000,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 9,995,111 9,998,333 3.78 10,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 4,998,800 4,999,956 1.89 5,000,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 9,996,061 9,999,444 3.78 10,000,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 4,997,876 4,999,268 1.89 5,000,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 4,997,328 4,997,918 1.89 5,000,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 1.89 5,000,000 Jabil Inc. January 20, 2022 0.250 % 2,499,219 2,499,670 0.95 2,500,000 Jabil Inc. February 8, 2022 0.300 % 7,496,063 7,497,625 2.84 7,500,000 Jabil Inc. February 25, 2022 0.310 % 4,996,900 4,997,632 1.89 5,000,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 1.89 5,000,000 Viatris Inc. February 11, 2022 0.300 % 4,996,625 4,998,292 1.89 5,000,000 Viatris Inc. March 1, 2022 0.310 % 4,996,986 4,997,460 1.89 5,000,000 Viatris Inc. January 21, 2022 0.200 % 4,998,584 4,999,444 1.89 5,000,000 WGL Holdings, Inc. January 12, 2022 0.220 % 4,998,686 4,999,664 1.89 5,000,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 1.89 5,000,000 Total Commercial Paper $ 119,951,019 $ 119,980,366 45.38 % Total Cash Equivalents $ 152,949,199 57.86 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 1.43 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.07 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 0.75 42,533,400 United States soybean futures contracts CBOT soybean futures MAR22 234 591,547 0.22 15,669,225 CBOT soybean futures MAY22 199 1,008,504 0.38 13,422,550 CBOT soybean futures NOV22 250 1,084,800 0.41 15,865,625 United States sugar futures contracts ICE sugar futures MAY22 381 225,299 0.09 7,936,992 ICE sugar futures MAR23 392 853,927 0.32 8,091,507 United States wheat futures contracts CBOT wheat futures MAY22 687 1,809,796 0.68 26,595,488 CBOT wheat futures DEC22 686 1,904,876 0.72 26,411,000 Total commodity futures contracts $ 13,415,301 5.07 % $ 234,855,437 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.03 % $ 6,817,541 United States wheat futures contracts CBOT wheat futures JUL22 593 654,969 0.25 22,667,425 Total commodity futures contracts $ 735,475 0.28 % $ 29,484,966 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,537,560 1.34 % 163,930 Teucrium Soybean Fund 3,538,006 1.34 155,374 Teucrium Sugar Fund 3,591,878 1.36 389,317 Teucrium Wheat Fund 3,510,575 1.33 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 5.37 % |
Teucrium Agricultural Fund [Member] | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Exchange-traded funds Teucrium Corn Fund $ 9,885,980 24.97 % 367,555 Teucrium Soybean Fund 9,921,042 25.07 348,075 Teucrium Sugar Fund 9,745,653 24.63 1,024,284 Teucrium Wheat Fund 10,020,023 25.32 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 99.99 % Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 4,716 $ 4,716 0.01 % 4,716 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Exchange-traded funds Teucrium Corn Fund $ 3,537,560 24.95 % 163,930 Teucrium Soybean Fund 3,538,006 24.96 155,374 Teucrium Sugar Fund 3,591,878 25.33 389,317 Teucrium Wheat Fund 3,510,575 24.76 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 100.00 % Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 4,801 $ 4,801 0.03 % 4,801 |
Note 1 - Organization and Op_12
Note 1 - Organization and Operation - Teucrium Agricultural Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Agricultural Fund [Member] | |
Notes Tables | |
Schedule of Benchmark Percentages [Table Text Block] | Underlying Fund Weighting CORN 25% SOYB 25% CANE 25% WEAT 25% |
Note 2 - Principal Contracts_13
Note 2 - Principal Contracts and Agreements - Teucrium Agricultural Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 410,660 $ 363,000 $ 369,293 Amount of Custody Services Waived $ 42,625 $ 120,850 $ 71,342 Amount Recognized for Distribution Services $ 200,313 $ 186,531 $ 180,024 Amount of Distribution Services Waived $ 48,593 $ 94,724 $ 68,140 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 550 $ 991 $ 2,215 Amount Recognized for Thales $ 278,958 $ 297,222 $ 116,901 Amount of Thales Waived $ 106,944 $ 153,198 $ 57,988 |
Teucrium Agricultural Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 19,180 $ 7,579 $ 1,874 Amount of Custody Services Waived $ 19,180 $ 7,199 $ 1,702 Amount Recognized for Distribution Services $ 9,264 $ 3,860 $ 851 Amount of Distribution Services Waived $ 9,264 $ 3,702 $ 790 Amount Recognized for Wilmington Trust $ 550 $ 108 $ 11 Amount of Wilmington Trust Waived $ - $ 108 $ - Amount Recognized for Thales $ 12,548 $ 5,350 $ 533 Amount of Thales Waived $ 8,843 $ 5,350 $ 365 |
Note 3 - Summary of Signific_13
Note 3 - Summary of Significant Accounting Policies - Teucrium Agricultural Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 2,721,842 $ 2,321,539 $ 2,279,672 Waived Related Party Transactions $ 518,599 $ 1,052,715 $ 775,432 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 |
Teucrium Agricultural Fund [Member] | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Recognized Related Party Transactions $ 125,972 $ 51,117 $ 10,906 Waived Related Party Transactions $ 86,496 $ 46,063 $ 9,518 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | TAGS Year Ended December 31, 2022 $ 262,928 Year Ended December 31, 2021 $ 105,722 Year Ended December 31, 2020 $ 39,833 |
Note 4 - Fair Value Measurem_13
Note 4 - Fair Value Measurements - Teucrium Agricultural Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 388,000,477 $ - $ - $ 388,000,477 Commodity and Cryptocurrency Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Soybean futures contracts 2,520,370 - - 2,520,370 Sugar futures contracts 911,329 - - 911,329 Wheat futures contracts 3,160,732 - - 3,160,732 Bitcoin futures contracts 29,152 - - 29,152 Total $ 396,207,858 $ - $ - $ 396,207,858 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Sugar futures contracts 85,128 - - 85,128 Wheat futures contracts 26,380,838 - - 26,380,838 Total $ 29,433,069 $ - $ - $ 29,433,069 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 152,949,199 $ - $ - $ 152,949,199 Commodity Futures Contracts Corn futures contracts 5,936,552 - - 5,936,552 Soybean futures contracts 2,684,851 - - 2,684,851 Sugar futures contracts 1,079,226 - - 1,079,226 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 166,364,500 $ - $ - $ 166,364,500 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Commodity Futures Contracts Sugar futures contracts $ 80,506 $ - $ - $ 80,506 Wheat futures contracts 654,969 - - 654,969 Total $ 735,475 $ - $ - $ 735,475 |
Teucrium Agricultural Fund [Member] | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Exchange Traded Funds $ 39,572,698 $ - $ - $ 39,572,698 Cash Equivalents 4,716 - - 4,716 Total $ 39,577,414 $ - $ - $ 39,577,414 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Exchange Traded Funds $ 14,178,019 $ - $ - $ 14,178,019 Cash Equivalents 4,801 - - 4,801 Total $ 14,182,820 $ - $ - $ 14,182,820 |
Note 5 - Financial Highlights_2
Note 5 - Financial Highlights - Teucrium Agricultural Fund (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Teucrium Agricultural Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Year ended Year ended Year ended December 31, 2022 December 31, 2021 December 31, 2020 Per Share Operation Performance Net asset value at beginning of period $ 27.01 $ 21.12 $ 19.72 Income (loss) from investment operations: Net realized and unrealized gain on investment transactions 4.38 5.93 1.44 Total expenses, net (0.04 ) (0.04 ) (0.04 ) Net increase in net asset value 4.34 5.89 1.40 Net asset value at end of period $ 31.35 $ 27.01 $ 21.12 Total Return 16.06 % 27.85 % 7.14 % Ratios to Average Net Assets (Annualized) Total expenses 0.84 % 1.54 % 3.31 % Total expenses, net 0.14 % 0.17 % 0.20 % Net investment loss (0.13 )% (0.17 )% (0.20 )% |
Schedule of Investments - Has_2
Schedule of Investments - Hashdex Bitcoin Futures ETF (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 28,382,122 $ 28,382,122 6.10 % 28,382,122 Goldman Sachs Financial Square Government Fund - Institutional Class 4.140 % 160,258,295 160,258,295 34.44 160,258,295 Total money market funds $ 188,640,417 $ 188,640,417 40.54 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. January 17, 2023 4.565 % $ 4,968,750 $ 4,990,000 1.07 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.742 % 14,877,488 14,968,886 3.22 15,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 17, 2023 4.734 % 4,959,225 4,989,644 1.07 5,000,000 CNH Industrial Capital LLC January 23, 2023 4.566 % 9,935,000 9,972,500 2.14 10,000,000 CNH Industrial Capital LLC February 13, 2023 4.780 % 9,899,472 9,943,862 2.14 10,000,000 Crown Castle Inc. January 10, 2023 4.877 % 7,443,000 7,491,000 1.61 7,500,000 Crown Castle Inc. January 12, 2023 4.765 % 12,449,410 12,482,050 2.68 12,500,000 Entergy Corporation January 4, 2023 4.311 % 9,926,808 9,996,460 2.15 10,000,000 General Motors Financial Company, Inc. January 10, 2023 4.276 % 12,400,060 12,486,207 2.68 12,500,000 General Motors Financial Company, Inc. January 18, 2023 4.473 % 7,418,417 7,484,417 1.61 7,500,000 Glencore Funding LLC January 10, 2023 4.506 % 9,934,607 9,988,895 2.15 10,000,000 Glencore Funding LLC January 13, 2023 4.526 % 5,461,843 5,491,823 1.18 5,500,000 Harley-Davidson Financial Services, Inc. January 3, 2023 4.721 % 5,263,032 5,298,631 1.14 5,300,000 Harley-Davidson Financial Services, Inc. January 25, 2023 4.944 % 7,458,402 7,475,650 1.61 7,500,000 Harley-Davidson Financial Services, Inc. February 2, 2023 5.104 % 4,959,561 4,977,688 1.07 5,000,000 Humana Inc. January 9, 2023 4.670 % 7,448,250 7,492,333 1.61 7,500,000 Hyundai Capital America January 10, 2023 4.000 % 9,903,645 9,990,145 2.15 10,000,000 ITT Inc. January 19, 2023 4.475 % 4,965,088 4,988,975 1.07 5,000,000 Jabil Inc. January 13, 2023 5.073 % 4,980,555 4,991,667 1.07 5,000,000 Oracle Corporation January 5, 2023 4.358 % 4,973,125 4,997,611 1.07 5,000,000 Oracle Corporation January 17, 2023 4.361 % 9,931,919 9,980,889 2.14 10,000,000 V.F. Corporation January 17, 2023 4.364 % 4,959,390 4,990,444 1.07 5,000,000 V.F. Corporation February 2, 2023 4.669 % 6,456,811 6,473,422 1.39 6,500,000 VW Credit, Inc. January 19, 2023 4.434 % 7,448,106 7,483,613 1.61 7,500,000 Walgreens Boots Alliance, Inc. February 13, 2023 4.842 % 4,970,188 4,971,512 1.07 5,000,000 Walgreens Boots Alliance, Inc. February 28, 2023 4.827 % 4,959,098 4,961,736 1.07 5,000,000 Total Commercial Paper $ 198,351,250 $ 199,360,060 42.84 % Total Cash Equivalents $ 388,000,477 83.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures JUL23 1,363 $ 1,585,798 0.34 % $ 45,779,763 United States soybean futures contracts CBOT soybean futures MAR23 268 642,912 0.14 20,421,600 CBOT soybean futures MAY23 229 807,218 0.17 17,518,500 CBOT soybean futures NOV23 289 1,070,240 0.23 20,472,038 United States sugar futures contracts ICE sugar futures MAY23 401 356,963 0.08 8,407,526 ICE sugar futures JUL23 362 554,366 0.12 7,289,811 United States wheat futures contracts CBOT wheat futures JUL23 1,711 3,160,732 0.68 68,696,650 United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 24,979 0.01 496,050 CME Bitcoin futures FEB23 7 4,173 0.00 575,575 Total commodity and cryptocurrency futures contracts $ 8,207,381 1.77 % $ 189,657,513 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States corn futures contracts CBOT corn futures MAY23 1,575 $ 751,309 0.16 % $ 53,392,500 CBOT corn futures DEC23 1,750 2,215,794 0.48 53,440,625 United States sugar futures contracts ICE sugar futures MAR24 427 85,128 0.02 8,565,278 United States wheat futures contracts CBOT wheat futures MAY23 2,005 7,079,231 1.52 80,074,688 CBOT wheat futures DEC23 1,956 19,301,607 4.15 80,220,450 Total commodity and cryptocurrency futures contracts $ 29,433,069 6.33 % $ 275,693,541 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 9,885,980 2.12 % 367,555 Teucrium Soybean Fund 9,921,042 2.13 348,075 Teucrium Sugar Fund 9,745,653 2.09 1,024,284 Teucrium Wheat Fund 10,020,023 2.15 1,254,840 Total exchange-traded funds $ 39,425,287 $ 39,572,698 8.49 % Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 0.026 % $ 30,443,449 $ 30,443,449 11.52 % 30,443,449 Goldman Sachs Financial Square Government Fund - Institutional Class 0.030 % 2,525,384 2,525,384 0.96 2,525,384 Total money market funds $ 32,968,833 $ 32,968,833 12.48 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 31, 2022 0.181 % $ 9,996,324 $ 9,998,489 3.78 % 10,000,000 Albemarle Corporation January 11, 2022 0.200 % 4,998,834 4,999,722 1.89 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 25, 2022 0.170 % 2,499,021 2,499,717 0.95 2,500,000 Conagra Brands, Inc. January 5, 2022 0.160 % 7,497,300 7,499,867 2.84 7,500,000 Conagra Brands, Inc. January 18, 2022 0.150 % 4,998,710 4,999,646 1.89 5,000,000 General Motors Financial Company, Inc. January 6, 2022 0.160 % 4,998,000 4,999,889 1.89 5,000,000 General Motors Financial Company, Inc. January 31, 2022 0.200 % 9,995,111 9,998,333 3.78 10,000,000 General Motors Financial Company, Inc. January 3, 2022 0.160 % 4,998,800 4,999,956 1.89 5,000,000 Harley-Davidson Financial Services, Inc. January 13, 2022 0.167 % 9,996,061 9,999,444 3.78 10,000,000 Harley-Davidson Financial Services, Inc. February 1, 2022 0.170 % 4,997,876 4,999,268 1.89 5,000,000 Harley-Davidson Financial Services, Inc. March 2, 2022 0.250 % 4,997,328 4,997,918 1.89 5,000,000 Humana Inc. January 7, 2022 0.140 % 4,998,425 4,999,883 1.89 5,000,000 Jabil Inc. January 20, 2022 0.250 % 2,499,219 2,499,670 0.95 2,500,000 Jabil Inc. February 8, 2022 0.300 % 7,496,063 7,497,625 2.84 7,500,000 Jabil Inc. February 25, 2022 0.310 % 4,996,900 4,997,632 1.89 5,000,000 Viatris Inc. February 11, 2022 0.250 % 4,997,466 4,998,577 1.89 5,000,000 Viatris Inc. February 11, 2022 0.300 % 4,996,625 4,998,292 1.89 5,000,000 Viatris Inc. March 1, 2022 0.310 % 4,996,986 4,997,460 1.89 5,000,000 Viatris Inc. January 21, 2022 0.200 % 4,998,584 4,999,444 1.89 5,000,000 WGL Holdings, Inc. January 12, 2022 0.220 % 4,998,686 4,999,664 1.89 5,000,000 WGL Holdings, Inc. January 6, 2022 0.187 % 4,998,700 4,999,870 1.89 5,000,000 Total Commercial Paper $ 119,951,019 $ 119,980,366 45.38 % Total Cash Equivalents $ 152,949,199 57.86 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT corn futures MAY22 1,418 $ 3,767,282 1.43 % $ 42,185,500 CBOT corn futures JUL22 1,218 196,244 0.07 36,144,150 CBOT corn futures DEC22 1,558 1,973,026 0.75 42,533,400 United States soybean futures contracts CBOT soybean futures MAR22 234 591,547 0.22 15,669,225 CBOT soybean futures MAY22 199 1,008,504 0.38 13,422,550 CBOT soybean futures NOV22 250 1,084,800 0.41 15,865,625 United States sugar futures contracts ICE sugar futures MAY22 381 225,299 0.09 7,936,992 ICE sugar futures MAR23 392 853,927 0.32 8,091,507 United States wheat futures contracts CBOT wheat futures MAY22 687 1,809,796 0.68 26,595,488 CBOT wheat futures DEC22 686 1,904,876 0.72 26,411,000 Total commodity futures contracts $ 13,415,301 5.07 % $ 234,855,437 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures JUL22 331 $ 80,506 0.03 % $ 6,817,541 United States wheat futures contracts CBOT wheat futures JUL22 593 654,969 0.25 22,667,425 Total commodity futures contracts $ 735,475 0.28 % $ 29,484,966 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,537,560 1.34 % 163,930 Teucrium Soybean Fund 3,538,006 1.34 155,374 Teucrium Sugar Fund 3,591,878 1.36 389,317 Teucrium Wheat Fund 3,510,575 1.33 475,836 Total exchange-traded funds $ 12,799,498 $ 14,178,019 5.37 % |
Hashdex Bitcoin Futures ETF [Member] | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 4.105 % $ 701,969 $ 701,969 65.59 % 701,969 Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Cryptocurrency futures contracts United States CME Bitcoin futures contracts CME Bitcoin futures JAN23 6 $ 24,979 2.33 % $ 496,050 CME Bitcoin futures FEB23 7 4,173 0.39 575,575 Total cryptocurrency futures contracts $ 29,152 2.72 % $ 1,071,625 |
Note 1 - Organization and Op_13
Note 1 - Organization and Operation - Hashdex Bitcoin Futures ETF (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Hashdex Bitcoin Futures ETF [Member] | |
Notes Tables | |
Schedule of Benchmark Percentages [Table Text Block] | CME Bitcoin Futures Contracts Weighting First to expire 50 % Second to expire 50 % |
Note 2 - Principal Contracts_14
Note 2 - Principal Contracts and Agreements - Hashdex Bitcoin Futures ETF (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Year Ended December 31, 2020 Amount Recognized for Custody Services $ 410,660 $ 363,000 $ 369,293 Amount of Custody Services Waived $ 42,625 $ 120,850 $ 71,342 Amount Recognized for Distribution Services $ 200,313 $ 186,531 $ 180,024 Amount of Distribution Services Waived $ 48,593 $ 94,724 $ 68,140 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 550 $ 991 $ 2,215 Amount Recognized for Thales $ 278,958 $ 297,222 $ 116,901 Amount of Thales Waived $ 106,944 $ 153,198 $ 57,988 |
Hashdex Bitcoin Futures ETF [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Period Ended December 31, 2022 Amount Recognized for Custody Services $ 213 Amount of Custody Services Waived $ 213 Amount Recognized for Distribution Services $ 95 Amount of Distribution Services Waived $ 95 Amount Recognized for Wilmington Trust $ 550 Amount of Wilmington Trust Waived $ 550 |
Note 3 - Summary of Signific_14
Note 3 - Summary of Significant Accounting Policies - Hashdex Bitcoin Futures ETF (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Year Ending December 31, 2022 $ 217,050 $ 27,011 $ 33,469 $ 387,999 $ - $ 2,217 $ 667,746 Year Ending December 31, 2021 $ 141,674 $ 29,889 $ 21,123 $ 47,448 $ - $ - $ 240,134 Year Ending December 31, 2020 $ 149,619 $ 35,880 $ 14,681 $ 40,741 $ 1 $ - $ 240,922 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI Trust Year Ended December 31, 2022 $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 262,928 $ 75,291 $ 1,277,037 Year Ended December 31, 2021 $ 1,060,261 $ 576,014 $ 134,294 $ 307,565 $ 105,722 $ - $ 2,183,856 Year Ended December 31, 2020 $ 849,396 $ 399,518 $ 210,614 $ 81,190 $ 39,833 $ - $ 1,580,551 |
Hashdex Bitcoin Futures ETF [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | DEFI Period Ended December 31, 2022 $ 2,217 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | DEFI Period Ended December 31, 2022 $ 75,291 |
Note 4 - Fair Value Measurem_14
Note 4 - Fair Value Measurements - Hashdex Bitcoin Futures ETF (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 388,000,477 $ - $ - $ 388,000,477 Commodity and Cryptocurrency Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Soybean futures contracts 2,520,370 - - 2,520,370 Sugar futures contracts 911,329 - - 911,329 Wheat futures contracts 3,160,732 - - 3,160,732 Bitcoin futures contracts 29,152 - - 29,152 Total $ 396,207,858 $ - $ - $ 396,207,858 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 Sugar futures contracts 85,128 - - 85,128 Wheat futures contracts 26,380,838 - - 26,380,838 Total $ 29,433,069 $ - $ - $ 29,433,069 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Cash Equivalents $ 152,949,199 $ - $ - $ 152,949,199 Commodity Futures Contracts Corn futures contracts 5,936,552 - - 5,936,552 Soybean futures contracts 2,684,851 - - 2,684,851 Sugar futures contracts 1,079,226 - - 1,079,226 Wheat futures contracts 3,714,672 - - 3,714,672 Total $ 166,364,500 $ - $ - $ 166,364,500 Liabilities: Level 1 Level 2 Level 3 Balance as of December 31, 2021 Commodity Futures Contracts Sugar futures contracts $ 80,506 $ - $ - $ 80,506 Wheat futures contracts 654,969 - - 654,969 Total $ 735,475 $ - $ - $ 735,475 |
Hashdex Bitcoin Futures ETF [Member] | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2022 Cash Equivalents $ 701,969 $ - $ - $ 701,969 Bitcoin futures contracts 29,152 - - 29,152 Total $ 731,121 $ - $ - $ 731,121 |
Note 5 - Derivative Instrume_12
Note 5 - Derivative Instruments and Hedging Activities - Hashdex Bitcoin Futures ETF (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 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 (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 $ - (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 Corn futures contracts $ 5,936,552 $ - $ 5,936,552 $ - $ - $ 5,936,552 Soybean futures contracts $ 2,684,851 $ - $ 2,684,851 $ - $ 675,169 $ 2,009,682 Sugar futures contracts $ 1,079,226 $ - $ 1,079,226 $ 80,506 $ - $ 998,720 Wheat futures contracts $ 3,714,672 $ - $ 3,714,672 $ 654,969 $ 213,708 $ 2,845,995 (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 $ 80,506 $ - $ 80,506 $ 80,506 $ - $ - Wheat futures contracts $ 654,969 $ - $ 654,969 $ 654,969 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Gain (Loss) on Commodity and Cryptocurrency Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity and Cryptocurrency Futures Contracts Commodity and Cryptocurrency Price Corn futures contracts $ 28,784,977 $ (7,317,857 ) Soybean futures contracts 10,362,032 (164,481 ) Sugar futures contracts (442,477 ) (172,519 ) Wheat futures contracts (81,457,408 ) (26,279,809 ) Bitcoin futures contracts (423,794 ) 29,152 Total commodity futures contracts $ (43,176,670 ) $ (33,905,514 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 65,827,118 $ (14,218,054 ) Soybean futures contracts 27,370,674 (12,439,375 ) Sugar futures contracts 6,223,228 (408,983 ) Wheat futures contracts 18,418,461 (2,678,459 ) Total commodity futures contracts $ 117,839,481 $ (29,744,871 ) Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 5,882,216 $ 19,371,125 Soybean futures contracts 14,404,714 14,192,330 Sugar futures contracts (656,937 ) 1,060,274 Wheat futures contracts 5,461,905 669,686 Total commodity futures contracts $ 25,091,898 $ 35,293,415 |
Hashdex Bitcoin Futures ETF [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 Cryptocurrency Price Bitcoin futures contracts $ 29,152 $ - $ 29,152 $ - $ - $ 29,152 |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Cryptocurrency Price Bitcoin futures contracts $ (423,794 ) $ 29,152 |
Note 6 - Financial Highlight_10
Note 6 - Financial Highlights - Hashdex Bitcoin Futures ETF (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Hashdex Bitcoin Futures ETF [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | From the commencement of operations (September 15, 2022) through December 31, 2022 Per Share Operation Performance Net asset value at beginning of period $ 25.00 Income (loss) from investment operations: Investment income 0.19 Net realized and unrealized loss on cryptocurrency futures contracts (3.73 ) Total expenses, net (0.06 ) Net decrease in net asset value (3.60 ) Net asset value at end of period $ 21.40 Total Return (14.39 )% Ratios to Average Net Assets (Annualized) Total expenses 17.60 % Total expenses, net 0.94 % Net investment income 1.90 % |
Combined Schedule of Investme_3
Combined Schedule of Investments - Investments (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 | |
Commodity Futures Contracts [Member] | |||
Fair value | $ 13,415,301 | ||
Percentage of net assets | 5.07% | ||
Notional amount, asset | $ 234,855,437 | ||
Money Market Funds [Member] | |||
Cost | $ 188,640,417 | 32,968,833 | |
Fair value | $ 188,640,417 | $ 32,968,833 | |
Percentage of net assets | 40.54% | 12.48% | |
Shares (in shares) | |||
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | |||
Index | 4.105% | 0.026% | |
Cost | $ 28,382,122 | $ 30,443,449 | |
Fair value | $ 28,382,122 | $ 30,443,449 | |
Percentage of net assets | 6.10% | 11.52% | |
Shares (in shares) | 28,382,122 | 30,443,449 | |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | |||
Index | 4.14% | 0.03% | |
Cost | $ 160,258,295 | $ 2,525,384 | |
Fair value | $ 160,258,295 | $ 2,525,384 | |
Percentage of net assets | 34.44% | 0.96% | |
Shares (in shares) | 160,258,295 | 2,525,384 | |
Commercial Paper [Member] | |||
Cost | $ 198,351,250 | $ 119,951,019 | |
Fair value | $ 199,360,060 | $ 119,980,366 | |
Percentage of net assets | 42.84% | 45.38% | |
Commercial Paper [Member] | American Electric Power Company, Inc. [Member] | |||
Index | 4.565% | ||
Cost | $ 4,968,750 | ||
Fair value | $ 4,990,000 | ||
Percentage of net assets | 1.07% | ||
Maturity date | Jan. 17, 2023 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | |||
Index | 0.17% | ||
Cost | $ 2,499,021 | ||
Fair value | $ 2,499,717 | ||
Percentage of net assets | 0.95% | ||
Maturity date | Jan. 25, 2022 | ||
Principal amount | $ 2,500,000 | ||
Commercial Paper [Member] | Entergy Corporation [Member] | |||
Index | 4.311% | ||
Cost | $ 9,926,808 | ||
Fair value | $ 9,996,460 | ||
Percentage of net assets | 2.15% | ||
Maturity date | Jan. 04, 2023 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper [Member] | Humana Inc. [Member] | |||
Index | 4.67% | 0.14% | |
Cost | $ 7,448,250 | $ 4,998,425 | |
Fair value | $ 7,492,333 | $ 4,999,883 | |
Percentage of net assets | 1.61% | 1.89% | |
Maturity date | Jan. 09, 2023 | Jan. 07, 2022 | |
Principal amount | $ 7,500,000 | $ 5,000,000 | |
Commercial Paper [Member] | Jabil Inc. [Member] | |||
Index | 5.073% | ||
Cost | $ 4,980,555 | ||
Fair value | $ 4,991,667 | ||
Percentage of net assets | 1.07% | ||
Maturity date | Jan. 13, 2023 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Hyundai Capital America [Member] | |||
Index | 4% | ||
Cost | $ 9,903,645 | ||
Fair value | $ 9,990,145 | ||
Percentage of net assets | 2.15% | ||
Maturity date | Jan. 10, 2023 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper [Member] | ITT Inc. [Member] | |||
Index | 4.475% | ||
Cost | $ 4,965,088 | ||
Fair value | $ 4,988,975 | ||
Percentage of net assets | 1.07% | ||
Maturity date | Jan. 19, 2023 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | VW Credit, Inc. [Member] | |||
Index | 4.434% | ||
Cost | $ 7,448,106 | ||
Fair value | $ 7,483,613 | ||
Percentage of net assets | 1.61% | ||
Maturity date | Jan. 19, 2023 | ||
Principal amount | $ 7,500,000 | ||
Commercial Paper [Member] | Investment One [Member] | Albemarle Corporation [Member] | |||
Index | 0.181% | ||
Cost | $ 9,996,324 | ||
Fair value | $ 9,998,489 | ||
Percentage of net assets | 3.78% | ||
Maturity date | Jan. 31, 2022 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper [Member] | Investment One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | |||
Index | 4.742% | ||
Cost | $ 14,877,488 | ||
Fair value | $ 14,968,886 | ||
Percentage of net assets | 3.22% | ||
Maturity date | Jan. 17, 2023 | ||
Principal amount | $ 15,000,000 | ||
Commercial Paper [Member] | Investment One [Member] | CNH Industrial Capital LLC [Member] | |||
Index | 4.566% | ||
Cost | $ 9,935,000 | ||
Fair value | $ 9,972,500 | ||
Percentage of net assets | 2.14% | ||
Maturity date | Jan. 23, 2023 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper [Member] | Investment One [Member] | Conagra Brands, Inc. [Member] | |||
Index | 0.16% | ||
Cost | $ 7,497,300 | ||
Fair value | $ 7,499,867 | ||
Percentage of net assets | 2.84% | ||
Maturity date | Jan. 05, 2022 | ||
Principal amount | $ 7,500,000 | ||
Commercial Paper [Member] | Investment One [Member] | Crown Castle Inc. [Member] | |||
Index | 4.877% | ||
Cost | $ 7,443,000 | ||
Fair value | $ 7,491,000 | ||
Percentage of net assets | 1.61% | ||
Maturity date | Jan. 10, 2023 | ||
Principal amount | $ 7,500,000 | ||
Commercial Paper [Member] | Investment One [Member] | General Motors Financial Company, Inc. [Member] | |||
Index | 4.276% | 0.16% | |
Cost | $ 12,400,060 | $ 4,998,000 | |
Fair value | $ 12,486,207 | $ 4,999,889 | |
Percentage of net assets | 2.68% | 1.89% | |
Maturity date | Jan. 10, 2023 | Jan. 06, 2022 | |
Principal amount | $ 12,500,000 | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Harley-Davidson Financial Services, Inc. [Member] | |||
Index | 4.721% | 0.167% | |
Cost | $ 5,263,032 | $ 9,996,061 | |
Fair value | $ 5,298,631 | $ 9,999,444 | |
Percentage of net assets | 1.14% | 3.78% | |
Maturity date | Jan. 03, 2023 | Jan. 13, 2022 | |
Principal amount | $ 5,300,000 | $ 10,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Glencore Funding LLC [Member] | |||
Index | 4.506% | ||
Cost | $ 9,934,607 | ||
Fair value | $ 9,988,895 | ||
Percentage of net assets | 2.15% | ||
Maturity date | Jan. 10, 2023 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper [Member] | Investment One [Member] | Jabil Inc. [Member] | |||
Index | 0.25% | ||
Cost | $ 2,499,219 | ||
Fair value | $ 2,499,670 | ||
Percentage of net assets | 0.95% | ||
Maturity date | Jan. 20, 2022 | ||
Principal amount | $ 2,500,000 | ||
Commercial Paper [Member] | Investment One [Member] | Viatris Inc. [Member] | |||
Index | 0.25% | ||
Cost | $ 4,997,466 | ||
Fair value | $ 4,998,577 | ||
Percentage of net assets | 1.89% | ||
Maturity date | Feb. 11, 2022 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Investment One [Member] | Oracle Corporation [Member] | |||
Index | 4.358% | ||
Cost | $ 4,973,125 | ||
Fair value | $ 4,997,611 | ||
Percentage of net assets | 1.07% | ||
Maturity date | Jan. 05, 2023 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Investment One [Member] | WGL Holdings, Inc. [Member] | |||
Index | 0.22% | ||
Cost | $ 4,998,686 | ||
Fair value | $ 4,999,664 | ||
Percentage of net assets | 1.89% | ||
Maturity date | Jan. 12, 2022 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Investment One [Member] | V.F. Corporation [Member] | |||
Index | 4.364% | ||
Cost | $ 4,959,390 | ||
Fair value | $ 4,990,444 | ||
Percentage of net assets | 1.07% | ||
Maturity date | Jan. 17, 2023 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Investment One [Member] | Walgreens Boots Alliance, Inc. [Member] | |||
Index | 4.842% | ||
Cost | $ 4,970,188 | ||
Fair value | $ 4,971,512 | ||
Percentage of net assets | 1.07% | ||
Maturity date | Feb. 13, 2023 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Investment Two [Member] | Albemarle Corporation [Member] | |||
Index | 0.20% | ||
Cost | $ 4,998,834 | ||
Fair value | $ 4,999,722 | ||
Percentage of net assets | 1.89% | ||
Maturity date | Jan. 11, 2022 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Investment Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | |||
Index | 4.734% | ||
Cost | $ 4,959,225 | ||
Fair value | $ 4,989,644 | ||
Percentage of net assets | 1.07% | ||
Maturity date | Jan. 17, 2023 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Investment Two [Member] | CNH Industrial Capital LLC [Member] | |||
Index | 4.78% | ||
Cost | $ 9,899,472 | ||
Fair value | $ 9,943,862 | ||
Percentage of net assets | 2.14% | ||
Maturity date | Feb. 13, 2023 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper [Member] | Investment Two [Member] | Conagra Brands, Inc. [Member] | |||
Index | 0.15% | ||
Cost | $ 4,998,710 | ||
Fair value | $ 4,999,646 | ||
Percentage of net assets | 1.89% | ||
Maturity date | Jan. 18, 2022 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Investment Two [Member] | Crown Castle Inc. [Member] | |||
Index | 4.765% | ||
Cost | $ 12,449,410 | ||
Fair value | $ 12,482,050 | ||
Percentage of net assets | 2.68% | ||
Maturity date | Jan. 12, 2023 | ||
Principal amount | $ 12,500,000 | ||
Commercial Paper [Member] | Investment Two [Member] | General Motors Financial Company, Inc. [Member] | |||
Index | 4.473% | 0.20% | |
Cost | $ 7,418,417 | $ 9,995,111 | |
Fair value | $ 7,484,417 | $ 9,998,333 | |
Percentage of net assets | 1.61% | 3.78% | |
Maturity date | Jan. 18, 2023 | Jan. 31, 2022 | |
Principal amount | $ 7,500,000 | $ 10,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Harley-Davidson Financial Services, Inc. [Member] | |||
Index | 4.944% | 0.17% | |
Cost | $ 7,458,402 | $ 4,997,876 | |
Fair value | $ 7,475,650 | $ 4,999,268 | |
Percentage of net assets | 1.61% | 1.89% | |
Maturity date | Jan. 25, 2023 | Feb. 01, 2022 | |
Principal amount | $ 7,500,000 | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Glencore Funding LLC [Member] | |||
Index | 4.526% | ||
Cost | $ 5,461,843 | ||
Fair value | $ 5,491,823 | ||
Percentage of net assets | 1.18% | ||
Maturity date | Jan. 13, 2023 | ||
Principal amount | $ 5,500,000 | ||
Commercial Paper [Member] | Investment Two [Member] | Jabil Inc. [Member] | |||
Index | 0.30% | ||
Cost | $ 7,496,063 | ||
Fair value | $ 7,497,625 | ||
Percentage of net assets | 2.84% | ||
Maturity date | Feb. 08, 2022 | ||
Principal amount | $ 7,500,000 | ||
Commercial Paper [Member] | Investment Two [Member] | Viatris Inc. [Member] | |||
Index | 0.30% | ||
Cost | $ 4,996,625 | ||
Fair value | $ 4,998,292 | ||
Percentage of net assets | 1.89% | ||
Maturity date | Feb. 11, 2022 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Investment Two [Member] | Oracle Corporation [Member] | |||
Index | 4.361% | ||
Cost | $ 9,931,919 | ||
Fair value | $ 9,980,889 | ||
Percentage of net assets | 2.14% | ||
Maturity date | Jan. 17, 2023 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper [Member] | Investment Two [Member] | WGL Holdings, Inc. [Member] | |||
Index | 0.187% | ||
Cost | $ 4,998,700 | ||
Fair value | $ 4,999,870 | ||
Percentage of net assets | 1.89% | ||
Maturity date | Jan. 06, 2022 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Investment Two [Member] | V.F. Corporation [Member] | |||
Index | 4.669% | ||
Cost | $ 6,456,811 | ||
Fair value | $ 6,473,422 | ||
Percentage of net assets | 1.39% | ||
Maturity date | Feb. 02, 2023 | ||
Principal amount | $ 6,500,000 | ||
Commercial Paper [Member] | Investment Two [Member] | Walgreens Boots Alliance, Inc. [Member] | |||
Index | 4.827% | ||
Cost | $ 4,959,098 | ||
Fair value | $ 4,961,736 | ||
Percentage of net assets | 1.07% | ||
Maturity date | Feb. 28, 2023 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Investment Three [Member] | General Motors Financial Company, Inc. [Member] | |||
Index | 0.16% | ||
Cost | $ 4,998,800 | ||
Fair value | $ 4,999,956 | ||
Percentage of net assets | 1.89% | ||
Maturity date | Jan. 03, 2022 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Investment Three [Member] | Harley-Davidson Financial Services, Inc. [Member] | |||
Index | 5.104% | 0.25% | |
Cost | $ 4,959,561 | $ 4,997,328 | |
Fair value | $ 4,977,688 | $ 4,997,918 | |
Percentage of net assets | 1.07% | 1.89% | |
Maturity date | Feb. 02, 2023 | Mar. 02, 2022 | |
Principal amount | $ 5,000,000 | $ 5,000,000 | |
Commercial Paper [Member] | Investment Three [Member] | Jabil Inc. [Member] | |||
Index | 0.31% | ||
Cost | $ 4,996,900 | ||
Fair value | $ 4,997,632 | ||
Percentage of net assets | 1.89% | ||
Maturity date | Feb. 25, 2022 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Investment Three [Member] | Viatris Inc. [Member] | |||
Index | 0.31% | ||
Cost | $ 4,996,986 | ||
Fair value | $ 4,997,460 | ||
Percentage of net assets | 1.89% | ||
Maturity date | Mar. 01, 2022 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Investment Four [Member] | Viatris Inc. [Member] | |||
Index | 0.20% | ||
Cost | $ 4,998,584 | ||
Fair value | $ 4,999,444 | ||
Percentage of net assets | 1.89% | ||
Maturity date | Jan. 21, 2022 | ||
Principal amount | $ 5,000,000 | ||
Corn Futures Contracts [Member] | CBOT Corn Futures JUL23 [Member] | |||
Fair value | $ 1,585,798,000 | ||
Percentage of net assets | 0.34% | ||
Number of contracts | 1,363 | ||
Notional amount, asset | $ 45,779,763,000 | ||
Corn Futures Contracts [Member] | CBOT Corn Futures MAY22 [Member] | |||
Fair value | $ 3,767,282 | ||
Percentage of net assets | 1.43% | ||
Number of contracts | 1,418 | ||
Notional amount, asset | $ 42,185,500 | ||
Corn Futures Contracts [Member] | CBOT Corn Futures JUL22 [Member] | |||
Fair value | $ 196,244 | ||
Percentage of net assets | 0.07% | ||
Number of contracts | 1,218 | ||
Notional amount, asset | $ 36,144,150 | ||
Corn Futures Contracts [Member] | CBOT Corn Futures DEC22 [Member] | |||
Fair value | $ 1,973,026 | ||
Percentage of net assets | 0.75% | ||
Number of contracts | 1,558 | ||
Notional amount, asset | $ 42,533,400 | ||
Exchange Traded Funds [Member] | |||
Cost | [1] | 39,425,287 | 12,799,498 |
Fair value | [1] | $ 39,572,698 | $ 14,178,019 |
Percentage of net assets | [1] | 8.49% | 5.37% |
Shares (in shares) | [1] | ||
Exchange Traded Funds [Member] | Teucrium Corn Fund [Member] | |||
Cost | [1] | ||
Fair value | [1] | $ 9,885,980 | $ 3,537,560 |
Percentage of net assets | [1] | 2.12% | 1.34% |
Shares (in shares) | [1] | 367,555 | 163,930 |
Exchange Traded Funds [Member] | Teucrium Soybean Fund [Member] | |||
Cost | [1] | ||
Fair value | [1] | $ 9,921,042 | $ 3,538,006 |
Percentage of net assets | [1] | 2.13% | 1.34% |
Shares (in shares) | [1] | 348,075 | 155,374 |
Exchange Traded Funds [Member] | Teucrium Sugar Fund [Member] | |||
Cost | [1] | ||
Fair value | [1] | $ 9,745,653 | $ 3,591,878 |
Percentage of net assets | [1] | 2.09% | 1.36% |
Shares (in shares) | [1] | 1,024,284 | 389,317 |
Exchange Traded Funds [Member] | Teucrium Wheat Fund [Member] | |||
Cost | [1] | ||
Fair value | [1] | $ 10,020,023 | $ 3,510,575 |
Percentage of net assets | [1] | 2.15% | 1.33% |
Shares (in shares) | [1] | 1,254,840 | 475,836 |
Soybean Futures Contracts [Member] | CBOT Soybean Futures MAR23 [Member] | |||
Fair value | $ 642,912,000 | ||
Percentage of net assets | 0.14% | ||
Number of contracts | 268 | ||
Notional amount, asset | $ 20,421,600,000 | ||
Soybean Futures Contracts [Member] | CBOT Soybean Futures MAY23 [Member] | |||
Fair value | $ 807,218,000 | ||
Percentage of net assets | 0.17% | ||
Number of contracts | 229 | ||
Notional amount, asset | $ 17,518,500,000 | ||
Soybean Futures Contracts [Member] | CBOT Soybean Futures NOV23 [Member] | |||
Fair value | $ 1,070,240,000 | ||
Percentage of net assets | 0.23% | ||
Number of contracts | 289 | ||
Notional amount, asset | $ 20,472,038,000 | ||
Soybean Futures Contracts [Member] | CBOT Soybean Futures MAR22 [Member] | |||
Fair value | $ 591,547 | ||
Percentage of net assets | 0.22% | ||
Number of contracts | 234 | ||
Notional amount, asset | $ 15,669,225 | ||
Soybean Futures Contracts [Member] | CBOT Soybean Futures MAY22 [Member] | |||
Fair value | $ 1,008,504 | ||
Percentage of net assets | 0.38% | ||
Number of contracts | 199 | ||
Notional amount, asset | $ 13,422,550 | ||
Soybean Futures Contracts [Member] | CBOT Soybean Futures NOV22 [Member] | |||
Fair value | $ 1,084,800 | ||
Percentage of net assets | 0.41% | ||
Number of contracts | 250 | ||
Notional amount, asset | $ 15,865,625 | ||
Sugar Futures Contracts [Member] | ICE Sugar Futures MAY23 [Member] | |||
Fair value | $ 356,963,000 | ||
Percentage of net assets | 0.08% | ||
Number of contracts | 401 | ||
Notional amount, asset | $ 8,407,526,000 | ||
Sugar Futures Contracts [Member] | ICE Sugar Futures JUL23 [Member] | |||
Fair value | $ 554,366,000 | ||
Percentage of net assets | 0.12% | ||
Number of contracts | 362 | ||
Notional amount, asset | $ 7,289,811,000 | ||
Sugar Futures Contracts [Member] | ICE Sugar Futures MAY22 [Member] | |||
Fair value | $ 225,299 | ||
Percentage of net assets | 0.09% | ||
Number of contracts | 381 | ||
Notional amount, asset | $ 7,936,992 | ||
Sugar Futures Contracts [Member] | ICE Sugar Futures MAR23 [Member] | |||
Fair value | $ 853,927 | ||
Percentage of net assets | 0.32% | ||
Number of contracts | 392 | ||
Notional amount, asset | $ 8,091,507 | ||
Commodity and Cryptocurrency Futures Contracts [Member] | |||
Fair value | $ 8,207,381,000 | ||
Percentage of net assets | 1.77% | ||
Number of contracts | |||
Notional amount, asset | $ 189,657,513,000 | ||
Wheat Futures Contracts [Member] | CBOT Wheat Futures JUL23 [Member] | |||
Fair value | $ 3,160,732,000 | ||
Percentage of net assets | 0.68% | ||
Number of contracts | 1,711 | ||
Notional amount, asset | $ 68,696,650,000 | ||
Wheat Futures Contracts [Member] | CBOT Wheat Futures MAY22 [Member] | |||
Fair value | $ 1,809,796 | ||
Percentage of net assets | 0.68% | ||
Number of contracts | 687 | ||
Notional amount, asset | $ 26,595,488 | ||
Wheat Futures Contracts [Member] | CBOT Wheat Futures DEC22 [Member] | |||
Fair value | $ 1,904,876 | ||
Percentage of net assets | 0.72% | ||
Number of contracts | 686 | ||
Notional amount, asset | $ 26,411,000 | ||
Cryptocurrency Futures Contracts [Member] | CME Bitcoin Futures JAN23 [Member] | |||
Fair value | $ 24,979,000 | ||
Percentage of net assets | 0.01% | ||
Number of contracts | 6 | ||
Notional amount, asset | $ 496,050,000 | ||
Cryptocurrency Futures Contracts [Member] | CME Bitcoin Futures FEB23 [Member] | |||
Fair value | $ 4,173,000 | ||
Percentage of net assets | 0% | ||
Number of contracts | 7 | ||
Notional amount, asset | $ 575,575,000 | ||
Cash and Cash Equivalents [Member] | |||
Fair value | $ 388,000,477 | $ 152,949,199 | |
Percentage of net assets | 83.37% | 57.86% | |
Liability [Member] | Commodity Futures Contracts [Member] | |||
Fair value | $ 735,475 | ||
Percentage of net assets | 0.28% | ||
Notional amount, liability | $ 29,484,966 | ||
Liability [Member] | Commodity Futures Contracts [Member] | ICE Sugar Futures JUL22 [Member] | |||
Fair value | $ 80,506 | ||
Percentage of net assets | 0.03% | ||
Number of contracts | 331 | ||
Notional amount, liability | $ 6,817,541 | ||
Liability [Member] | Commodity Futures Contracts [Member] | CBOT Wheat Futures JUL22 [Member] | |||
Fair value | $ 654,969 | ||
Percentage of net assets | 0.25% | ||
Number of contracts | 593 | ||
Notional amount, liability | $ 22,667,425 | ||
Liability [Member] | Commodity Futures Contracts [Member] | CBOT Corn Futures MAY23 [Member] | |||
Fair value | $ 751,309 | ||
Percentage of net assets | 0.16% | ||
Number of contracts | 1,575 | ||
Notional amount, liability | $ 53,392,500 | ||
Liability [Member] | Commodity Futures Contracts [Member] | CBOT Corn Futures DEC23 [Member] | |||
Fair value | $ 2,215,794 | ||
Percentage of net assets | 0.48% | ||
Number of contracts | 1,750 | ||
Notional amount, liability | $ 53,440,625 | ||
Liability [Member] | Commodity Futures Contracts [Member] | ICE Sugar Futures MAR24 [Member] | |||
Fair value | $ 85,128 | ||
Percentage of net assets | 0.02% | ||
Number of contracts | 427 | ||
Notional amount, liability | $ 8,565,278 | ||
Liability [Member] | Commodity Futures Contracts [Member] | CBOT Wheat Futures MAY23 [Member] | |||
Fair value | $ 7,079,231 | ||
Percentage of net assets | 1.52% | ||
Number of contracts | 2,005 | ||
Notional amount, liability | $ 80,074,688 | ||
Liability [Member] | Commodity Futures Contracts [Member] | CBOT Wheat Futures DEC23 [Member] | |||
Fair value | $ 19,301,607 | ||
Percentage of net assets | 4.15% | ||
Number of contracts | 1,956 | ||
Notional amount, liability | $ 80,220,450 | ||
Liability [Member] | Commodity and Cryptocurrency Futures Contracts [Member] | |||
Fair value | $ 29,433,069 | ||
Percentage of net assets | 6.33% | ||
Number of contracts | |||
Notional amount, liability | $ 275,693,541 | ||
[1]The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. |
Note 1 - Organization and Op_14
Note 1 - Organization and Operation (Details Textual) | 4 Months Ended | 12 Months Ended | ||||||||
Sep. 16, 2022 USD ($) shares | Sep. 15, 2022 USD ($) shares | Mar. 27, 2012 USD ($) shares | Sep. 19, 2011 USD ($) shares | Sep. 16, 2011 USD ($) shares | Jun. 08, 2010 USD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) shares | |
Number of Series | 6 | 6 | ||||||||
Stock Issued During Period, Value, New Issues | $ 1,251,138,564 | $ 176,346,175 | $ 305,719,849 | |||||||
Number of Agricultural Commodity Pools | 4 | 4 | ||||||||
Teucrium Corn Fund [Member] | ||||||||||
Number of Creation Baskets Issued | 4 | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 200,000 | 8,050,000 | 5,025,000 | 12,675,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 5,000,000 | $ 218,911,328 | $ 95,586,980 | $ 155,612,893 | ||||||
Teucrium Sugar Fund [Member] | ||||||||||
Number of Creation Baskets Issued | 2 | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 100,000 | 2,800,000 | 1,700,000 | 1,575,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 2,500,000 | $ 27,142,395 | $ 14,673,718 | $ 9,284,965 | ||||||
Teucrium Agricultural Fund [Member] | ||||||||||
Number of Creation Baskets Issued | 6 | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 300,000 | 1,362,500 | 537,500 | 12,500 | ||||||
Stock Issued During Period, Value, New Issues | $ 15,000,000 | $ 45,566,391 | $ 13,467,624 | $ 235,946 | ||||||
Number of Agricultural Commodity Pools | 4 | 4 | ||||||||
Underlying Fund Average, Weighting to Each Fund | 25% | 25% | ||||||||
Teucrium Agricultural Fund [Member] | Teucrium Corn Fund [Member] | ||||||||||
Underlying Fund Average, Weighting to Each Fund | 25% | 25% | ||||||||
Teucrium Agricultural Fund [Member] | Teucrium Soybean Fund [Member] | ||||||||||
Underlying Fund Average, Weighting to Each Fund | 25% | 25% | ||||||||
Teucrium Agricultural Fund [Member] | Teucrium Sugar Fund [Member] | ||||||||||
Underlying Fund Average, Weighting to Each Fund | 25% | 25% | ||||||||
Teucrium Agricultural Fund [Member] | Teucrium Wheat Fund [Member] | ||||||||||
Underlying Fund Average, Weighting to Each Fund | 25% | 25% | ||||||||
Hashdex Bitcoin Futures ETF [Member] | ||||||||||
Number of Creation Baskets Issued | 5 | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 50,000 | 50,000 | 100,004 | |||||||
Stock Issued During Period, Value, New Issues | $ 1,250,000 | $ 1,250,000 | $ 2,461,340 | |||||||
Teucrium Soybean Fund [Member] | ||||||||||
Number of Creation Baskets Issued | 2 | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 100,000 | 2,200,000 | 1,225,000 | 7,600,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 2,500,000 | $ 60,420,360 | $ 26,122,875 | $ 110,771,840 | ||||||
Teucrium Wheat Fund [Member] | ||||||||||
Number of Creation Baskets Issued | 2 | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 100,000 | 100,000 | 85,350,000 | 4,050,000 | 5,350,000 | |||||
Stock Issued During Period, Value, New Issues | $ 2,500,000 | $ 2,500,000 | $ 896,636,750 | $ 26,494,978 | $ 29,814,205 |
Note 2 - Principal Contracts_15
Note 2 - Principal Contracts and Agreements (Details Textual) | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
U.S. Bank N.A. [Member] | Custody Services [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, Up to One Billion | 0.0075% |
Related Party Transaction, Percentage of Average Gross Assets, Over One Billion | 0.005% |
Global Fund Services [Member] | Transfer Agency, Fund Accounting and Fund Administration Services [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, First 500 Million | 0.05% |
Related Party Transaction, Percentage of Average Gross Assets, Second 500 Million | 0.04% |
Related Party Transaction, Percentage of Average Gross Assets, Next Two Billion | 0.03% |
Related Party Transaction, Percentage of Average Gross Assets, Over Three Billion | 0.02% |
U.S. Bank N.A. and Global Fund Services [Member] | Custody, Transfer Agency, Fund Accounting and Fund Administration Services [Member] | |
Related Party Transaction, Minimum Annual Fee Per Fund | $ 47,000 |
Foreside Fund Services, LLC [Member] | Distribution Services Agreement [Member] | |
Related Party Transaction, Percentage of Average Daily Net Assets | 0.01% |
Related Party Transaction, Aggregate Annual Fee for all Funds | $ 100,000 |
Foreside Fund Services, LLC [Member] | Securities Activities and Service Agreement (SASA) [Member] | |
Related Party Transaction, Fee Per Registered Representative | 5,000 |
Related Party Transaction, Fee Per Registered Location | 1,000 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | 11 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.50 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 20% |
Related Party Transaction, Exchange Maintenance Margin | 9.60% |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | Minimum [Member] | |
Related Party Transaction, Fee Per Half Turn | $ 10 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | Maximum [Member] | |
Related Party Transaction, Fee Per Half Turn | 25 |
Phillip Capital Inc [Member] | Brokerage Commissions [Member] | Minimum [Member] | |
Related Party Transaction, Fee Per Half Turn | 35 |
Phillip Capital Inc [Member] | Brokerage Commissions [Member] | Maximum [Member] | |
Related Party Transaction, Fee Per Half Turn | 45 |
Wilmington Trust Company [Member] | |
Related Party Transaction, Annual Fee | 3,300 |
Thales Capital Partners LLC [Member] | Distribution and Solicitation-related Services [Member] | |
Related Party Transaction, Quarterly Fee Amount | $ 18,750 |
Related Party Transaction, Percentage of New Assets in Referred Accounts | 0.10% |
Note 2 - Principal Contracts_16
Note 2 - Principal Contracts and Agreements - Summary of Expenses (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Amount Recognized | $ 2,721,842 | $ 2,321,539 | $ 2,279,672 |
Amount Waived | 518,599 | 1,052,715 | 775,432 |
Wilmington Trust Company [Member] | |||
Amount Recognized | 3,300 | 3,300 | 3,300 |
Amount Waived | 550 | 991 | 2,215 |
Thales Capital Partners LLC [Member] | |||
Amount Recognized | 278,958 | 297,222 | 116,901 |
Amount Waived | 106,944 | 153,198 | 57,988 |
Custody Services [Member] | |||
Amount Recognized | 410,660 | 363,000 | 369,293 |
Amount Waived | 42,625 | 120,850 | 71,342 |
Distribution Services [Member] | |||
Amount Recognized | 200,313 | 186,531 | 180,024 |
Amount Waived | $ 48,593 | $ 94,724 | $ 68,140 |
Note 3 - Summary of Signific_15
Note 3 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended | 4 Months Ended | 12 Months Ended | |||||
Jun. 30, 2021 USD ($) | Mar. 31, 2021 USD ($) | Jun. 30, 2020 USD ($) | Dec. 31, 2022 USD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | |
Number of Underlying Funds | 4 | 4 | ||||||
Open Tax Year | 2019 2020 2021 2022 | |||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | 0 | 0 | 0 | ||||
Teucrium Corn Fund [Member] | ||||||||
Open Tax Year | 2019 2020 2021 2022 | |||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | 0 | 0 | 0 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | 0 | 0 | 0 | ||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | 50,000 | ||||||
Minimum Number of RedemptionBaskets | 2 | 2 | ||||||
Change Unrealized Excess Reported CBOT Values | $ 711,275 | $ 3,371,513 | ||||||
Teucrium Corn Fund [Member] | Teucrium Trading, LLC [Member] | ||||||||
Management Fee, Percentage of Average Daily Net Assets | 1% | |||||||
Teucrium Soybean Fund [Member] | ||||||||
Open Tax Year | 2019 2020 2021 2022 | |||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | 0 | 0 | 0 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | 0 | 0 | 0 | ||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | 50,000 | ||||||
Minimum Number of RedemptionBaskets | 2 | 2 | ||||||
Change Unrealized Excess Reported CBOT Values | $ 279,750 | |||||||
Teucrium Soybean Fund [Member] | Teucrium Trading, LLC [Member] | ||||||||
Management Fee, Percentage of Average Daily Net Assets | 1% | |||||||
Teucrium Sugar Fund [Member] | ||||||||
Open Tax Year | 2019 2020 2021 2022 | |||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | 0 | 0 | 0 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | 0 | 0 | 0 | ||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | 50,000 | ||||||
Minimum Number of RedemptionBaskets | 2 | 2 | ||||||
Teucrium Sugar Fund [Member] | Teucrium Trading, LLC [Member] | ||||||||
Management Fee, Percentage of Average Daily Net Assets | 1% | |||||||
Teucrium Wheat Fund [Member] | ||||||||
Open Tax Year | 2019 2020 2021 2022 | |||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | 0 | 0 | 0 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | 0 | 0 | 0 | ||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | 50,000 | ||||||
Minimum Number of RedemptionBaskets | 2 | 2 | ||||||
Change Unrealized Excess Reported CBOT Values | $ 533,160 | |||||||
Teucrium Wheat Fund [Member] | Teucrium Trading, LLC [Member] | ||||||||
Management Fee, Percentage of Average Daily Net Assets | 1% | |||||||
Teucrium Agricultural Fund [Member] | ||||||||
Open Tax Year | 2019 2020 2021 2022 | |||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | 0 | 0 | 0 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | 50,000 | ||||||
Minimum Number of RedemptionBaskets | 4 | 4 | ||||||
Teucrium Agricultural Fund [Member] | Teucrium Trading, LLC [Member] | ||||||||
Management Fee, Percentage of Average Daily Net Assets | 1% | |||||||
Hashdex Bitcoin Futures ETF [Member] | ||||||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | |||||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | 50,000 | ||||||
Minimum Number of RedemptionBaskets | 5 | 5 | ||||||
Hashdex Bitcoin Futures ETF [Member] | Teucrium Trading, LLC [Member] | ||||||||
Management Fee, Percentage of Average Daily Net Assets | 0.94% | 0.94% | ||||||
Teucrium Corn Fund, Teucrium Sugar Fund, Teucrium Soybean Fund, and Teucrium Wheat Fund [Member] | Teucrium Trading, LLC [Member] | ||||||||
Management Fee, Percentage of Average Daily Net Assets | 1% |
Note 3 - Summary of Signific_16
Note 3 - Summary of Significant Accounting Policies - Total Brokerage Commissions Paid (Details) - USD ($) | 4 Months Ended | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Brokerage Commissions | $ 667,746 | $ 240,134 | $ 240,922 | |
Teucrium Corn Fund [Member] | ||||
Brokerage Commissions | 217,050 | 141,674 | 149,619 | |
Teucrium Soybean Fund [Member] | ||||
Brokerage Commissions | 27,011 | 29,889 | 35,880 | |
Teucrium Sugar Fund [Member] | ||||
Brokerage Commissions | 33,469 | 21,123 | 14,681 | |
Teucrium Wheat Fund [Member] | ||||
Brokerage Commissions | 387,999 | 47,448 | 40,741 | |
Teucrium Agricultural Fund [Member] | ||||
Brokerage Commissions | 0 | 0 | 1 | |
Hashdex Bitcoin Futures ETF [Member] | ||||
Brokerage Commissions | $ 2,217 | $ 2,217 | $ 0 | $ 0 |
Note 3 - Summary of Signific_17
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Money Market Funds | $ 188,640,417 | $ 32,968,833 | $ 61,121,678 |
Demand Deposit Savings Accounts | 46,061,819 | 99,262,744 | 95,809,411 |
Commercial Paper | 199,360,060 | 119,980,366 | 152,447,206 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 434,062,296 | $ 252,211,943 | $ 309,378,295 |
Note 3 - Summary of Signific_18
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Amount Recognized | $ 2,721,842 | $ 2,321,539 | $ 2,279,672 |
Amount Waived | $ 518,599 | $ 1,052,715 | $ 775,432 |
Note 3 - Summary of Signific_19
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor (Details) - USD ($) | 4 Months Ended | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expenses waived by the Sponsor | $ 1,277,037 | $ 2,183,856 | $ 1,580,551 | |
Teucrium Corn Fund [Member] | ||||
Expenses waived by the Sponsor | 345,855 | 1,060,261 | 849,396 | |
Teucrium Soybean Fund [Member] | ||||
Expenses waived by the Sponsor | 89,562 | 576,014 | 399,518 | |
Teucrium Sugar Fund [Member] | ||||
Expenses waived by the Sponsor | 78,237 | 134,294 | 210,614 | |
Teucrium Wheat Fund [Member] | ||||
Expenses waived by the Sponsor | 425,164 | 307,565 | 81,190 | |
Teucrium Agricultural Fund [Member] | ||||
Expenses waived by the Sponsor | 262,928 | 105,722 | 39,833 | |
Hashdex Bitcoin Futures ETF [Member] | ||||
Expenses waived by the Sponsor | $ 75,291 | $ 75,291 | $ 0 | $ 0 |
Note 4 - Fair Value Measurem_15
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Cash Equivalents | $ 388,000,477 | $ 152,949,199 |
Total | 396,207,858 | 166,364,500 |
Commodity and Cryptocurrency Futures Contracts | 29,433,069 | 735,475 |
Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 911,329 | 1,079,226 |
Commodity and Cryptocurrency Futures Contracts | 85,128 | 80,506 |
Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 3,160,732 | 3,714,672 |
Commodity and Cryptocurrency Futures Contracts | 26,380,838 | 654,969 |
Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,585,798 | 5,936,552 |
Commodity and Cryptocurrency Futures Contracts | 2,967,103 | |
Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 2,520,370 | 2,684,851 |
Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 29,152 | |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 388,000,477 | 152,949,199 |
Total | 396,207,858 | 166,364,500 |
Commodity and Cryptocurrency Futures Contracts | 29,433,069 | 735,475 |
Fair Value, Inputs, Level 1 [Member] | Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 911,329 | 1,079,226 |
Commodity and Cryptocurrency Futures Contracts | 85,128 | 80,506 |
Fair Value, Inputs, Level 1 [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 3,160,732 | 3,714,672 |
Commodity and Cryptocurrency Futures Contracts | 26,380,838 | 654,969 |
Fair Value, Inputs, Level 1 [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,585,798 | 5,936,552 |
Commodity and Cryptocurrency Futures Contracts | 2,967,103 | |
Fair Value, Inputs, Level 1 [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 2,520,370 | 2,684,851 |
Fair Value, Inputs, Level 1 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 29,152 | |
Fair Value, Inputs, Level 2 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | |
Fair Value, Inputs, Level 2 [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | |
Fair Value, Inputs, Level 3 [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | $ 0 |
Fair Value, Inputs, Level 3 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | $ 0 |
Note 5 - Derivative Instrume_13
Note 5 - Derivative Instruments and Hedging Activities (Details Textual) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Derivative, Notional Amount | $ 653.8 | $ 321.8 | $ 224.9 |
Note 5 - Derivative Instrume_14
Note 5 - Derivative Instruments and Hedging Activities - Offsetting of Financial Assets and Liabilities and Derivative Assets and Liabilities (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Derivative liabilities | $ 29,433,069 | $ 735,475 |
Corn Futures Contracts [Member] | ||
Gross amount of recognized assets | 1,585,798 | 5,936,552 |
Gross amount offset, assets | 0 | 0 |
Derivative asset | 1,585,798 | 5,936,552 |
Available for offset, assets | 1,585,798 | 0 |
Collateral, due to broker, assets | 0 | 0 |
Net amount, assets | 0 | 5,936,552 |
Gross amount of recognized liabilities | 2,967,103 | |
Gross amount offset, liabilities | 0 | |
Derivative liabilities | 2,967,103 | |
Futures contracts available for offset, liabilities | 1,585,798 | |
Collateral, due from broker, liabilities | 1,381,305 | |
Net amount, liabilities | 0 | |
Soybean Futures Contracts [Member] | ||
Gross amount of recognized assets | 2,520,370 | 2,684,851 |
Gross amount offset, assets | 0 | 0 |
Derivative asset | 2,520,370 | 2,684,851 |
Available for offset, assets | 0 | 0 |
Collateral, due to broker, assets | 0 | 675,169 |
Net amount, assets | 2,520,370 | 2,009,682 |
Sugar Futures Contracts [Member] | ||
Gross amount of recognized assets | 911,329 | 1,079,226 |
Gross amount offset, assets | 0 | 0 |
Derivative asset | 911,329 | 1,079,226 |
Available for offset, assets | 85,128 | 80,506 |
Collateral, due to broker, assets | 0 | 0 |
Net amount, assets | 826,201 | 998,720 |
Gross amount of recognized liabilities | 85,128 | 80,506 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 85,128 | 80,506 |
Futures contracts available for offset, liabilities | 85,128 | 80,506 |
Collateral, due from broker, liabilities | 0 | 0 |
Net amount, liabilities | 0 | 0 |
Wheat Futures Contracts [Member] | ||
Gross amount of recognized assets | 3,160,732 | 3,714,672 |
Gross amount offset, assets | 0 | 0 |
Derivative asset | 3,160,732 | 3,714,672 |
Available for offset, assets | 3,160,732 | 654,969 |
Collateral, due to broker, assets | 0 | 213,708 |
Net amount, assets | 0 | 2,845,995 |
Gross amount of recognized liabilities | 26,380,838 | 654,969 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 26,380,838 | 654,969 |
Futures contracts available for offset, liabilities | 3,160,732 | 654,969 |
Collateral, due from broker, liabilities | 23,220,106 | 0 |
Net amount, liabilities | 0 | $ 0 |
Bitcoin Futures Contracts [Member] | ||
Gross amount of recognized assets | 29,152 | |
Gross amount offset, assets | 0 | |
Derivative asset | 29,152 | |
Available for offset, assets | 0 | |
Collateral, due to broker, assets | 0 | |
Net amount, assets | $ 29,152 |
Note 5 - Derivative Instrume_15
Note 5 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) on Derivative Instruments (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Realized Gain on Commodity Futures Contracts | $ (43,176,670) | $ 117,839,481 | $ 25,091,898 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (33,905,514) | (29,744,871) | 35,293,415 |
Corn Futures Contracts [Member] | |||
Realized Gain on Commodity Futures Contracts | 28,784,977 | 65,827,118 | 5,882,216 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (7,317,857) | (14,218,054) | 19,371,125 |
Soybean Futures Contracts [Member] | |||
Realized Gain on Commodity Futures Contracts | 10,362,032 | 27,370,674 | 14,404,714 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (164,481) | (12,439,375) | 14,192,330 |
Sugar Futures Contracts [Member] | |||
Realized Gain on Commodity Futures Contracts | (442,477) | 6,223,228 | (656,937) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (172,519) | (408,983) | 1,060,274 |
Wheat Futures Contracts [Member] | |||
Realized Gain on Commodity Futures Contracts | (81,457,408) | 18,418,461 | 5,461,905 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (26,279,809) | $ (2,678,459) | $ 669,686 |
Bitcoin Futures Contracts [Member] | |||
Realized Gain on Commodity Futures Contracts | (423,794) | ||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ 29,152 |
Note 7 - Detail of the Net As_3
Note 7 - Detail of the Net Assets and Shares Outstanding of the Funds that are a Series of the Trust - Net Assets and Shares Outstanding (Details) - USD ($) | Dec. 31, 2022 | Sep. 14, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Net Assets | $ 465,375,598 | $ 264,276,768 | $ 310,113,194 | $ 167,906,597 | |
Less: Investment in the Underlying Funds | $ 39,572,698 | $ (14,178,019) | |||
Teucrium Corn Fund [Member] | |||||
Outstanding Shares (in shares) | 5,675,004 | 5,600,004 | |||
Net Assets | $ 152,638,405 | $ 120,846,256 | 138,289,537 | 75,220,190 | |
Teucrium Soybean Fund [Member] | |||||
Outstanding Shares (in shares) | 2,050,004 | 1,975,004 | |||
Net Assets | $ 58,429,985 | $ 44,972,625 | 89,178,862 | 28,135,131 | |
Teucrium Sugar Fund [Member] | |||||
Outstanding Shares (in shares) | 2,550,004 | 2,475,004 | |||
Net Assets | $ 24,262,359 | $ 22,834,664 | 12,766,091 | 12,313,180 | |
Teucrium Wheat Fund [Member] | |||||
Outstanding Shares (in shares) | 28,675,004 | 10,250,004 | |||
Net Assets | $ 228,972,039 | $ 75,621,587 | 69,876,578 | 52,236,196 | |
Teucrium Agricultural Fund [Member] | |||||
Outstanding Shares (in shares) | 1,262,502 | 525,002 | |||
Net Assets | $ 39,575,245 | $ 14,179,655 | $ 1,584,388 | $ 1,478,780 | |
Hashdex Bitcoin Futures ETF [Member] | |||||
Outstanding Shares (in shares) | 50,004 | ||||
Net Assets | $ 1,070,263 | $ 0 | |||
Funds Including Underlying Funds [Member] | |||||
Net Assets | 39,575,245 | 14,179,655 | |||
Funds [Member] | |||||
Net Assets | $ 2,547 | $ 1,636 |
Note 8 - Subsequent Events (Det
Note 8 - Subsequent Events (Details Textual) - USD ($) | 2 Months Ended | 4 Months Ended | 12 Months Ended | ||
Feb. 28, 2023 | Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Investment Company, Net Assets, Period Increase (Decrease), Total | $ 201,098,830 | $ (45,836,426) | $ 142,206,597 | ||
Teucrium Soybean Fund [Member] | |||||
Investment Company, Net Assets, Period Increase (Decrease), Total | 13,457,360 | (44,206,237) | 61,043,731 | ||
Teucrium Soybean Fund [Member] | Subsequent Event [Member] | |||||
Investment Company, Net Assets, Period Increase (Decrease), Total | $ (15,131,868) | ||||
Investment Company, Net Assets, Period Increase (Decrease), Percentage | (26.00%) | ||||
Investment Company, Net Assets, Period Increase (Decrease), Percentage, Shares Outstanding | (23.00%) | ||||
Investment Company, Net Asset Value Per Share, Period Increase (Decrease), Percentage | (4.00%) | ||||
Teucrium Wheat Fund [Member] | |||||
Investment Company, Net Assets, Period Increase (Decrease), Total | $ 153,350,452 | $ 5,745,009 | $ 17,640,382 | ||
Teucrium Wheat Fund [Member] | Subsequent Event [Member] | |||||
Investment Company, Net Assets, Period Increase (Decrease), Total | $ (46,724,300) | ||||
Investment Company, Net Assets, Period Increase (Decrease), Percentage | (20.00%) | ||||
Investment Company, Net Assets, Period Increase (Decrease), Percentage, Shares Outstanding | (11.00%) | ||||
Investment Company, Net Asset Value Per Share, Period Increase (Decrease), Percentage | (11.00%) | ||||
Hashdex Bitcoin Futures ETF [Member] | |||||
Investment Company, Net Assets, Period Increase (Decrease), Total | $ 1,070,263 | ||||
Hashdex Bitcoin Futures ETF [Member] | Subsequent Event [Member] | |||||
Investment Company, Net Assets, Period Increase (Decrease), Total | $ 431,977 | ||||
Investment Company, Net Assets, Period Increase (Decrease), Percentage | 40% | ||||
Investment Company, Net Asset Value Per Share, Period Increase (Decrease), Percentage | 40% |
Schedule of Investments - Inves
Schedule of Investments - Investments - Teucrium Corn Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Corn Futures Contracts [Member] | CBOT Corn Futures MAY22 [Member] | ||
Fair value | $ 3,767,282 | |
Percentage of net assets | 1.43% | |
Number of contracts | 1,418 | |
Notional amount, asset | $ 42,185,500 | |
Corn Futures Contracts [Member] | CBOT Corn Futures MAY22 [Member] | Teucrium Corn Fund [Member] | ||
Fair value | $ 3,767,282 | |
Percentage of net assets | 3.12% | |
Number of contracts | 1,418 | |
Notional amount, asset | $ 42,185,500 | |
Corn Futures Contracts [Member] | CBOT Corn Futures JUL22 [Member] | ||
Fair value | $ 196,244 | |
Percentage of net assets | 0.07% | |
Number of contracts | 1,218 | |
Notional amount, asset | $ 36,144,150 | |
Corn Futures Contracts [Member] | CBOT Corn Futures JUL22 [Member] | Teucrium Corn Fund [Member] | ||
Fair value | $ 196,244 | |
Percentage of net assets | 0.16% | |
Number of contracts | 1,218 | |
Notional amount, asset | $ 36,144,150 | |
Corn Futures Contracts [Member] | CBOT Corn Futures JUL23 [Member] | ||
Fair value | $ 1,585,798,000 | |
Percentage of net assets | 0.34% | |
Number of contracts | 1,363 | |
Notional amount, asset | $ 45,779,763,000 | |
Corn Futures Contracts [Member] | CBOT Corn Futures JUL23 [Member] | Teucrium Corn Fund [Member] | ||
Fair value | $ 1,585,798 | |
Percentage of net assets | 1.04% | |
Number of contracts | 1,363 | |
Notional amount, asset | $ 45,779,763 | |
Corn Futures Contracts [Member] | CBOT Corn Futures DEC22 [Member] | ||
Fair value | $ 1,973,026 | |
Percentage of net assets | 0.75% | |
Number of contracts | 1,558 | |
Notional amount, asset | $ 42,533,400 | |
Corn Futures Contracts [Member] | CBOT Corn Futures DEC22 [Member] | Teucrium Corn Fund [Member] | ||
Fair value | $ 1,973,026 | |
Percentage of net assets | 1.63% | |
Number of contracts | 1,558 | |
Notional amount, asset | $ 42,533,400 | |
Money Market Funds [Member] | ||
Cost | 188,640,417 | 32,968,833 |
Fair value | $ 188,640,417 | $ 32,968,833 |
Percentage of net assets | 40.54% | 12.48% |
Shares (in shares) | ||
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 4.105% | 0.026% |
Cost | $ 28,382,122 | $ 30,443,449 |
Fair value | $ 28,382,122 | $ 30,443,449 |
Percentage of net assets | 6.10% | 11.52% |
Shares (in shares) | 28,382,122 | 30,443,449 |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 4.14% | 0.03% |
Cost | $ 160,258,295 | $ 2,525,384 |
Fair value | $ 160,258,295 | $ 2,525,384 |
Percentage of net assets | 34.44% | 0.96% |
Shares (in shares) | 160,258,295 | 2,525,384 |
Money Market Funds [Member] | Teucrium Corn Fund [Member] | ||
Cost | $ 52,555,915 | $ 11,399,662 |
Fair value | $ 52,555,915 | $ 11,399,662 |
Percentage of net assets | 34.43% | 9.43% |
Shares (in shares) | ||
Money Market Funds [Member] | Teucrium Corn Fund [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 4.105% | 0.26% |
Cost | $ 3,498,444 | $ 11,397,154 |
Fair value | $ 3,498,444 | $ 11,397,154 |
Percentage of net assets | 2.29% | 9.43% |
Shares (in shares) | 3,498,444 | 11,397,154 |
Money Market Funds [Member] | Teucrium Corn Fund [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 4.14% | 0.03% |
Cost | $ 49,057,471 | $ 2,508 |
Fair value | $ 49,057,471 | $ 2,508 |
Percentage of net assets | 32.14% | 0% |
Shares (in shares) | 49,057,471 | 2,508 |
Commercial Paper [Member] | ||
Cost | $ 198,351,250 | $ 119,951,019 |
Fair value | $ 199,360,060 | $ 119,980,366 |
Percentage of net assets | 42.84% | 45.38% |
Commercial Paper [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 0.17% | |
Cost | $ 2,499,021 | |
Fair value | $ 2,499,717 | |
Percentage of net assets | 0.95% | |
Maturity date | Jan. 25, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Entergy Corporation [Member] | ||
Index | 4.311% | |
Cost | $ 9,926,808 | |
Fair value | $ 9,996,460 | |
Percentage of net assets | 2.15% | |
Maturity date | Jan. 04, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Humana Inc. [Member] | ||
Index | 4.67% | 0.14% |
Cost | $ 7,448,250 | $ 4,998,425 |
Fair value | $ 7,492,333 | $ 4,999,883 |
Percentage of net assets | 1.61% | 1.89% |
Maturity date | Jan. 09, 2023 | Jan. 07, 2022 |
Principal amount | $ 7,500,000 | $ 5,000,000 |
Commercial Paper [Member] | Jabil Inc. [Member] | ||
Index | 5.073% | |
Cost | $ 4,980,555 | |
Fair value | $ 4,991,667 | |
Percentage of net assets | 1.07% | |
Maturity date | Jan. 13, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Hyundai Capital America [Member] | ||
Index | 4% | |
Cost | $ 9,903,645 | |
Fair value | $ 9,990,145 | |
Percentage of net assets | 2.15% | |
Maturity date | Jan. 10, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | ITT Inc. [Member] | ||
Index | 4.475% | |
Cost | $ 4,965,088 | |
Fair value | $ 4,988,975 | |
Percentage of net assets | 1.07% | |
Maturity date | Jan. 19, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Teucrium Corn Fund [Member] | ||
Cost | 64,046,259 | 53,477,549 |
Fair value | $ 64,340,159 | $ 53,490,781 |
Percentage of net assets | 42.15% | 44.26% |
Commercial Paper [Member] | Teucrium Corn Fund [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 4.742% | |
Cost | $ 7,438,744 | |
Fair value | $ 7,484,443 | |
Percentage of net assets | 4.90% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Teucrium Corn Fund [Member] | Entergy Corporation [Member] | ||
Index | 4.311% | |
Cost | $ 2,481,702 | |
Fair value | $ 2,499,115 | |
Percentage of net assets | 1.64% | |
Maturity date | Jan. 04, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Corn Fund [Member] | Humana Inc. [Member] | ||
Index | 0.14% | |
Cost | $ 4,998,425 | |
Fair value | $ 4,999,883 | |
Percentage of net assets | 4.14% | |
Maturity date | Jan. 07, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Teucrium Corn Fund [Member] | Jabil Inc. [Member] | ||
Index | 5.073% | |
Cost | $ 4,980,555 | |
Fair value | $ 4,991,667 | |
Percentage of net assets | 3.27% | |
Maturity date | Jan. 13, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Teucrium Corn Fund [Member] | Hyundai Capital America [Member] | ||
Index | 4% | |
Cost | $ 2,475,911 | |
Fair value | $ 2,497,536 | |
Percentage of net assets | 1.64% | |
Maturity date | Jan. 10, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Corn Fund [Member] | ITT Inc. [Member] | ||
Index | 4.475% | |
Cost | $ 2,482,544 | |
Fair value | $ 2,494,487 | |
Percentage of net assets | 1.63% | |
Maturity date | Jan. 19, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Corn Fund [Member] | Oracle Corporation [Member] | ||
Index | 4.361% | |
Cost | $ 2,482,980 | |
Fair value | $ 2,495,222 | |
Percentage of net assets | 1.63% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Corn Fund [Member] | V.F. Corporation [Member] | ||
Index | 4.669% | |
Cost | $ 1,986,711 | |
Fair value | $ 1,991,822 | |
Percentage of net assets | 1.30% | |
Maturity date | Feb. 02, 2023 | |
Principal amount | $ 2,000,000 | |
Commercial Paper [Member] | Teucrium Corn Fund [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 4.827% | |
Cost | $ 2,479,549 | |
Fair value | $ 2,480,868 | |
Percentage of net assets | 1.63% | |
Maturity date | Feb. 28, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 4.742% | |
Cost | $ 14,877,488 | |
Fair value | $ 14,968,886 | |
Percentage of net assets | 3.22% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 15,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Albemarle Corporation [Member] | ||
Index | 0.181% | |
Cost | $ 9,996,324 | |
Fair value | $ 9,998,489 | |
Percentage of net assets | 3.78% | |
Maturity date | Jan. 31, 2022 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Investment One [Member] | CNH Industrial Capital LLC [Member] | ||
Index | 4.566% | |
Cost | $ 9,935,000 | |
Fair value | $ 9,972,500 | |
Percentage of net assets | 2.14% | |
Maturity date | Jan. 23, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Conagra Brands, Inc. [Member] | ||
Index | 0.16% | |
Cost | $ 7,497,300 | |
Fair value | $ 7,499,867 | |
Percentage of net assets | 2.84% | |
Maturity date | Jan. 05, 2022 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Crown Castle Inc. [Member] | ||
Index | 4.877% | |
Cost | $ 7,443,000 | |
Fair value | $ 7,491,000 | |
Percentage of net assets | 1.61% | |
Maturity date | Jan. 10, 2023 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Investment One [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 4.276% | 0.16% |
Cost | $ 12,400,060 | $ 4,998,000 |
Fair value | $ 12,486,207 | $ 4,999,889 |
Percentage of net assets | 2.68% | 1.89% |
Maturity date | Jan. 10, 2023 | Jan. 06, 2022 |
Principal amount | $ 12,500,000 | $ 5,000,000 |
Commercial Paper [Member] | Investment One [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 4.721% | 0.167% |
Cost | $ 5,263,032 | $ 9,996,061 |
Fair value | $ 5,298,631 | $ 9,999,444 |
Percentage of net assets | 1.14% | 3.78% |
Maturity date | Jan. 03, 2023 | Jan. 13, 2022 |
Principal amount | $ 5,300,000 | $ 10,000,000 |
Commercial Paper [Member] | Investment One [Member] | Jabil Inc. [Member] | ||
Index | 0.25% | |
Cost | $ 2,499,219 | |
Fair value | $ 2,499,670 | |
Percentage of net assets | 0.95% | |
Maturity date | Jan. 20, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Viatris Inc. [Member] | ||
Index | 0.25% | |
Cost | $ 4,997,466 | |
Fair value | $ 4,998,577 | |
Percentage of net assets | 1.89% | |
Maturity date | Feb. 11, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | WGL Holdings, Inc. [Member] | ||
Index | 0.22% | |
Cost | $ 4,998,686 | |
Fair value | $ 4,999,664 | |
Percentage of net assets | 1.89% | |
Maturity date | Jan. 12, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Oracle Corporation [Member] | ||
Index | 4.358% | |
Cost | $ 4,973,125 | |
Fair value | $ 4,997,611 | |
Percentage of net assets | 1.07% | |
Maturity date | Jan. 05, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | V.F. Corporation [Member] | ||
Index | 4.364% | |
Cost | $ 4,959,390 | |
Fair value | $ 4,990,444 | |
Percentage of net assets | 1.07% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 4.842% | |
Cost | $ 4,970,188 | |
Fair value | $ 4,971,512 | |
Percentage of net assets | 1.07% | |
Maturity date | Feb. 13, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Corn Fund [Member] | Albemarle Corporation [Member] | ||
Index | 0.181% | |
Cost | $ 7,497,243 | |
Fair value | $ 7,498,867 | |
Percentage of net assets | 6.20% | |
Maturity date | Jan. 31, 2022 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Corn Fund [Member] | CNH Industrial Capital LLC [Member] | ||
Index | 4.566% | |
Cost | $ 2,483,750 | |
Fair value | $ 2,493,125 | |
Percentage of net assets | 1.63% | |
Maturity date | Jan. 23, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Corn Fund [Member] | Conagra Brands, Inc. [Member] | ||
Index | 0.16% | |
Cost | $ 2,499,000 | |
Fair value | $ 2,499,955 | |
Percentage of net assets | 2.07% | |
Maturity date | Jan. 05, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Corn Fund [Member] | Crown Castle Inc. [Member] | ||
Index | 4.877% | |
Cost | $ 2,481,000 | |
Fair value | $ 2,497,000 | |
Percentage of net assets | 1.64% | |
Maturity date | Jan. 10, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Corn Fund [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 4.618% | 0.16% |
Cost | $ 7,449,762 | $ 2,499,000 |
Fair value | $ 7,491,469 | $ 2,499,944 |
Percentage of net assets | 4.91% | 2.07% |
Maturity date | Jan. 10, 2023 | Jan. 06, 2022 |
Principal amount | $ 7,500,000 | $ 2,500,000 |
Commercial Paper [Member] | Investment One [Member] | Teucrium Corn Fund [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 4.721% | 0.167% |
Cost | $ 2,482,562 | $ 7,497,046 |
Fair value | $ 2,499,354 | $ 7,499,583 |
Percentage of net assets | 1.64% | 6.20% |
Maturity date | Jan. 03, 2023 | Jan. 13, 2022 |
Principal amount | $ 2,500,000 | $ 7,500,000 |
Commercial Paper [Member] | Investment One [Member] | Teucrium Corn Fund [Member] | Jabil Inc. [Member] | ||
Index | 0.30% | |
Cost | $ 4,997,375 | |
Fair value | $ 4,998,417 | |
Percentage of net assets | 4.13% | |
Maturity date | Feb. 08, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Corn Fund [Member] | Viatris Inc. [Member] | ||
Index | 0.25% | |
Cost | $ 4,997,466 | |
Fair value | $ 4,998,577 | |
Percentage of net assets | 4.14% | |
Maturity date | Feb. 11, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Corn Fund [Member] | WGL Holdings, Inc. [Member] | ||
Index | 0.22% | |
Cost | $ 2,499,343 | |
Fair value | $ 2,499,832 | |
Percentage of net assets | 2.07% | |
Maturity date | Jan. 12, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 4.734% | |
Cost | $ 4,959,225 | |
Fair value | $ 4,989,644 | |
Percentage of net assets | 1.07% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Albemarle Corporation [Member] | ||
Index | 0.20% | |
Cost | $ 4,998,834 | |
Fair value | $ 4,999,722 | |
Percentage of net assets | 1.89% | |
Maturity date | Jan. 11, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | CNH Industrial Capital LLC [Member] | ||
Index | 4.78% | |
Cost | $ 9,899,472 | |
Fair value | $ 9,943,862 | |
Percentage of net assets | 2.14% | |
Maturity date | Feb. 13, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Conagra Brands, Inc. [Member] | ||
Index | 0.15% | |
Cost | $ 4,998,710 | |
Fair value | $ 4,999,646 | |
Percentage of net assets | 1.89% | |
Maturity date | Jan. 18, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Crown Castle Inc. [Member] | ||
Index | 4.765% | |
Cost | $ 12,449,410 | |
Fair value | $ 12,482,050 | |
Percentage of net assets | 2.68% | |
Maturity date | Jan. 12, 2023 | |
Principal amount | $ 12,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 4.473% | 0.20% |
Cost | $ 7,418,417 | $ 9,995,111 |
Fair value | $ 7,484,417 | $ 9,998,333 |
Percentage of net assets | 1.61% | 3.78% |
Maturity date | Jan. 18, 2023 | Jan. 31, 2022 |
Principal amount | $ 7,500,000 | $ 10,000,000 |
Commercial Paper [Member] | Investment Two [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 4.944% | 0.17% |
Cost | $ 7,458,402 | $ 4,997,876 |
Fair value | $ 7,475,650 | $ 4,999,268 |
Percentage of net assets | 1.61% | 1.89% |
Maturity date | Jan. 25, 2023 | Feb. 01, 2022 |
Principal amount | $ 7,500,000 | $ 5,000,000 |
Commercial Paper [Member] | Investment Two [Member] | Jabil Inc. [Member] | ||
Index | 0.30% | |
Cost | $ 7,496,063 | |
Fair value | $ 7,497,625 | |
Percentage of net assets | 2.84% | |
Maturity date | Feb. 08, 2022 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Viatris Inc. [Member] | ||
Index | 0.30% | |
Cost | $ 4,996,625 | |
Fair value | $ 4,998,292 | |
Percentage of net assets | 1.89% | |
Maturity date | Feb. 11, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | WGL Holdings, Inc. [Member] | ||
Index | 0.187% | |
Cost | $ 4,998,700 | |
Fair value | $ 4,999,870 | |
Percentage of net assets | 1.89% | |
Maturity date | Jan. 06, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Oracle Corporation [Member] | ||
Index | 4.361% | |
Cost | $ 9,931,919 | |
Fair value | $ 9,980,889 | |
Percentage of net assets | 2.14% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | V.F. Corporation [Member] | ||
Index | 4.669% | |
Cost | $ 6,456,811 | |
Fair value | $ 6,473,422 | |
Percentage of net assets | 1.39% | |
Maturity date | Feb. 02, 2023 | |
Principal amount | $ 6,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 4.827% | |
Cost | $ 4,959,098 | |
Fair value | $ 4,961,736 | |
Percentage of net assets | 1.07% | |
Maturity date | Feb. 28, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Corn Fund [Member] | CNH Industrial Capital LLC [Member] | ||
Index | 4.78% | |
Cost | $ 4,949,736 | |
Fair value | $ 4,971,931 | |
Percentage of net assets | 3.26% | |
Maturity date | Feb. 13, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Corn Fund [Member] | Conagra Brands, Inc. [Member] | ||
Index | 0.15% | |
Cost | $ 2,499,355 | |
Fair value | $ 2,499,823 | |
Percentage of net assets | 2.07% | |
Maturity date | Jan. 18, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Corn Fund [Member] | Crown Castle Inc. [Member] | ||
Index | 4.765% | |
Cost | $ 4,979,764 | |
Fair value | $ 4,992,820 | |
Percentage of net assets | 3.27% | |
Maturity date | Jan. 12, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Corn Fund [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 4.473% | 0.20% |
Cost | $ 2,472,806 | $ 3,498,289 |
Fair value | $ 2,494,806 | $ 3,499,417 |
Percentage of net assets | 1.63% | 2.89% |
Maturity date | Jan. 18, 2023 | Jan. 31, 2022 |
Principal amount | $ 2,500,000 | $ 3,500,000 |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Corn Fund [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 4.944% | 0.25% |
Cost | $ 7,458,402 | $ 2,498,664 |
Fair value | $ 7,475,650 | $ 2,498,959 |
Percentage of net assets | 4.90% | 2.07% |
Maturity date | Jan. 25, 2023 | Mar. 02, 2022 |
Principal amount | $ 7,500,000 | $ 2,500,000 |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Corn Fund [Member] | Jabil Inc. [Member] | ||
Index | 0.31% | |
Cost | $ 2,498,450 | |
Fair value | $ 2,498,816 | |
Percentage of net assets | 2.07% | |
Maturity date | Feb. 25, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Corn Fund [Member] | Viatris Inc. [Member] | ||
Index | 0.31% | |
Cost | $ 2,498,493 | |
Fair value | $ 2,498,730 | |
Percentage of net assets | 2.07% | |
Maturity date | Mar. 01, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Three [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 0.16% | |
Cost | $ 4,998,800 | |
Fair value | $ 4,999,956 | |
Percentage of net assets | 1.89% | |
Maturity date | Jan. 03, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Three [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.104% | 0.25% |
Cost | $ 4,959,561 | $ 4,997,328 |
Fair value | $ 4,977,688 | $ 4,997,918 |
Percentage of net assets | 1.07% | 1.89% |
Maturity date | Feb. 02, 2023 | Mar. 02, 2022 |
Principal amount | $ 5,000,000 | $ 5,000,000 |
Commercial Paper [Member] | Investment Three [Member] | Jabil Inc. [Member] | ||
Index | 0.31% | |
Cost | $ 4,996,900 | |
Fair value | $ 4,997,632 | |
Percentage of net assets | 1.89% | |
Maturity date | Feb. 25, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Three [Member] | Viatris Inc. [Member] | ||
Index | 0.31% | |
Cost | $ 4,996,986 | |
Fair value | $ 4,997,460 | |
Percentage of net assets | 1.89% | |
Maturity date | Mar. 01, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Three [Member] | Teucrium Corn Fund [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 0.16% | |
Cost | $ 2,499,400 | |
Fair value | $ 2,499,978 | |
Percentage of net assets | 2.07% | |
Maturity date | Jan. 03, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Three [Member] | Teucrium Corn Fund [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.104% | |
Cost | $ 2,479,781 | |
Fair value | $ 2,488,844 | |
Percentage of net assets | 1.63% | |
Maturity date | Feb. 02, 2023 | |
Principal amount | $ 2,500,000 | |
Commodity Futures Contracts [Member] | ||
Fair value | $ 13,415,301 | |
Percentage of net assets | 5.07% | |
Notional amount, asset | $ 234,855,437 | |
Commodity Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 735,475 | |
Percentage of net assets | 0.28% | |
Notional amount, liability | $ 29,484,966 | |
Commodity Futures Contracts [Member] | Teucrium Corn Fund [Member] | ||
Fair value | $ 5,936,552 | |
Percentage of net assets | 4.91% | |
Notional amount, asset | $ 120,863,050 | |
Commodity Futures Contracts [Member] | Teucrium Corn Fund [Member] | Liability [Member] | ||
Fair value | $ 2,967,103 | |
Percentage of net assets | 1.94% | |
Notional amount, liability | $ 106,833,125 | |
Commodity Futures Contracts [Member] | CBOT Corn Futures MAY23 [Member] | Liability [Member] | ||
Fair value | $ 751,309 | |
Percentage of net assets | 0.16% | |
Number of contracts | 1,575 | |
Notional amount, liability | $ 53,392,500 | |
Commodity Futures Contracts [Member] | CBOT Corn Futures MAY23 [Member] | Teucrium Corn Fund [Member] | Liability [Member] | ||
Fair value | $ 751,309 | |
Percentage of net assets | 0.49% | |
Number of contracts | 1,575 | |
Notional amount, liability | $ 53,392,500 | |
Commodity Futures Contracts [Member] | CBOT Corn Futures DEC23 [Member] | Liability [Member] | ||
Fair value | $ 2,215,794 | |
Percentage of net assets | 0.48% | |
Number of contracts | 1,750 | |
Notional amount, liability | $ 53,440,625 | |
Commodity Futures Contracts [Member] | CBOT Corn Futures DEC23 [Member] | Teucrium Corn Fund [Member] | Liability [Member] | ||
Fair value | $ 2,215,794 | |
Percentage of net assets | 1.45% | |
Number of contracts | 1,750 | |
Notional amount, liability | $ 53,440,625 | |
Cash and Cash Equivalents [Member] | ||
Fair value | $ 388,000,477 | $ 152,949,199 |
Percentage of net assets | 83.37% | 57.86% |
Cash and Cash Equivalents [Member] | Teucrium Corn Fund [Member] | ||
Fair value | $ 116,896,074 | $ 64,890,443 |
Percentage of net assets | 76.58% | 53.69% |
Note 1 - Organization and Op_15
Note 1 - Organization and Operation - Teucrium Corn Fund (Details Textual) | 12 Months Ended | |||
Jun. 08, 2010 USD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) shares | |
Stock Issued During Period, Value, New Issues | $ | $ 1,251,138,564 | $ 176,346,175 | $ 305,719,849 | |
Teucrium Corn Fund [Member] | ||||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | |||
Number of Creation Baskets Issued | 4 | |||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 200,000 | 8,050,000 | 5,025,000 | 12,675,000 |
Stock Issued During Period, Value, New Issues | $ | $ 5,000,000 | $ 218,911,328 | $ 95,586,980 | $ 155,612,893 |
Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | ||||
Derivative, Number of Instruments Held, Total | 3 |
Note 1 - Organization and Op_16
Note 1 - Organization and Operation - Benchmark - Teucrium Corn Fund (Details) - Teucrium Corn Fund [Member] | Dec. 31, 2022 |
Second to Expire [Member] | |
Weighting | 35% |
Third to Expire [Member] | |
Weighting | 30% |
December Following the Third to Expire [Member] | |
Weighting | 35% |
Note 2 - Principal Contracts_17
Note 2 - Principal Contracts and Agreements - Teucrium Corn Fund (Details Textual) | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
U.S. Bank N.A. [Member] | Custody Services [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, Up to One Billion | 0.0075% |
Related Party Transaction, Percentage of Average Gross Assets, Over One Billion | 0.005% |
U.S. Bank N.A. [Member] | Custody Services [Member] | Teucrium Corn Fund [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, Up to One Billion | 0.0075% |
Related Party Transaction, Percentage of Average Gross Assets, Over One Billion | 0.005% |
Global Fund Services [Member] | Transfer Agency, Fund Accounting and Fund Administration Services [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, First 500 Million | 0.05% |
Related Party Transaction, Percentage of Average Gross Assets, Second 500 Million | 0.04% |
Related Party Transaction, Percentage of Average Gross Assets, Next Two Billion | 0.03% |
Related Party Transaction, Percentage of Average Gross Assets, Over Three Billion | 0.02% |
Global Fund Services [Member] | Transfer Agency, Fund Accounting and Fund Administration Services [Member] | Teucrium Corn Fund [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, First 500 Million | 0.05% |
Related Party Transaction, Percentage of Average Gross Assets, Second 500 Million | 0.04% |
Related Party Transaction, Percentage of Average Gross Assets, Next Two Billion | 0.03% |
Related Party Transaction, Percentage of Average Gross Assets, Over Three Billion | 0.02% |
U.S. Bank N.A. and Global Fund Services [Member] | Custody, Transfer Agency, Fund Accounting and Fund Administration Services [Member] | |
Related Party Transaction, Minimum Annual Fee Per Fund | $ 47,000 |
U.S. Bank N.A. and Global Fund Services [Member] | Custody, Transfer Agency, Fund Accounting and Fund Administration Services [Member] | Teucrium Corn Fund [Member] | |
Related Party Transaction, Minimum Annual Fee Per Fund | $ 47,000 |
Foreside Fund Services, LLC [Member] | Distribution Services Agreement [Member] | |
Related Party Transaction, Percentage of Average Daily Net Assets | 0.01% |
Related Party Transaction, Aggregate Annual Fee for all Funds | $ 100,000 |
Foreside Fund Services, LLC [Member] | Distribution Services Agreement [Member] | Teucrium Corn Fund [Member] | |
Related Party Transaction, Percentage of Average Daily Net Assets | 0.01% |
Related Party Transaction, Aggregate Annual Fee for all Funds | $ 100,000 |
Foreside Fund Services, LLC [Member] | Securities Activities and Service Agreement (SASA) [Member] | |
Related Party Transaction, Fee Per Registered Representative | 5,000 |
Related Party Transaction, Fee Per Registered Location | 1,000 |
Foreside Fund Services, LLC [Member] | Securities Activities and Service Agreement (SASA) [Member] | Teucrium Corn Fund [Member] | |
Related Party Transaction, Fee Per Registered Representative | 5,000 |
Related Party Transaction, Fee Per Registered Location | 1,000 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | 11 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | Teucrium Corn Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | 11 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.50 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 20% |
Related Party Transaction, Exchange Maintenance Margin | 9.60% |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | Teucrium Corn Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.50 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 20% |
Related Party Transaction, Exchange Maintenance Margin | 9.60% |
Wilmington Trust Company [Member] | |
Related Party Transaction, Annual Fee | $ 3,300 |
Wilmington Trust Company [Member] | Teucrium Corn Fund [Member] | |
Related Party Transaction, Annual Fee | 3,300 |
Thales Capital Partners LLC [Member] | Distribution and Solicitation-related Services [Member] | |
Related Party Transaction, Quarterly Fee Amount | $ 18,750 |
Related Party Transaction, Percentage of New Assets in Referred Accounts | 0.10% |
Thales Capital Partners LLC [Member] | Distribution and Solicitation-related Services [Member] | Teucrium Corn Fund [Member] | |
Related Party Transaction, Quarterly Fee Amount | $ 18,750 |
Related Party Transaction, Percentage of New Assets in Referred Accounts | 0.10% |
Note 2 - Principal Contracts_18
Note 2 - Principal Contracts and Agreements - Summary of Expenses - Teucrium Corn Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Amount Recognized | $ 2,721,842 | $ 2,321,539 | $ 2,279,672 |
Amount Waived | 518,599 | 1,052,715 | 775,432 |
Wilmington Trust Company [Member] | |||
Amount Recognized | 3,300 | 3,300 | 3,300 |
Amount Waived | 550 | 991 | 2,215 |
Thales Capital Partners LLC [Member] | |||
Amount Recognized | 278,958 | 297,222 | 116,901 |
Amount Waived | 106,944 | 153,198 | 57,988 |
Teucrium Corn Fund [Member] | |||
Amount Recognized | 827,230 | 1,095,188 | 1,089,985 |
Amount Waived | 149,721 | 535,622 | 493,231 |
Teucrium Corn Fund [Member] | Wilmington Trust Company [Member] | |||
Amount Recognized | 550 | 1,520 | 1,511 |
Amount Waived | 0 | 0 | 1,511 |
Teucrium Corn Fund [Member] | Thales Capital Partners LLC [Member] | |||
Amount Recognized | 90,561 | 138,657 | 56,292 |
Amount Waived | 27,193 | 80,945 | 22,621 |
Custody Services [Member] | |||
Amount Recognized | 410,660 | 363,000 | 369,293 |
Amount Waived | 42,625 | 120,850 | 71,342 |
Custody Services [Member] | Teucrium Corn Fund [Member] | |||
Amount Recognized | 110,365 | 170,890 | 174,070 |
Amount Waived | 4,000 | 59,872 | 52,728 |
Distribution Services [Member] | |||
Amount Recognized | 200,313 | 186,531 | 180,024 |
Amount Waived | 48,593 | 94,724 | 68,140 |
Distribution Services [Member] | Teucrium Corn Fund [Member] | |||
Amount Recognized | 60,803 | 88,049 | 86,151 |
Amount Waived | $ 17,010 | $ 40,063 | $ 28,816 |
Note 3 - Summary of Signific_20
Note 3 - Summary of Significant Accounting Policies - Teucrium Corn Fund (Details Textual) | 3 Months Ended | 12 Months Ended | ||||
Jun. 30, 2021 USD ($) | Mar. 31, 2021 USD ($) | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | |
Open Tax Year | 2019 2020 2021 2022 | |||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | 0 | 0 | 0 | ||
Teucrium Corn Fund [Member] | ||||||
Open Tax Year | 2019 2020 2021 2022 | |||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | 0 | 0 | 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | $ 0 | $ 0 | $ 0 | ||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | |||||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 25,000 | |||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | |||||
Minimum Number of RedemptionBaskets | 2 | |||||
Change Unrealized Excess Reported CBOT Values | $ 711,275 | $ 3,371,513 | ||||
Teucrium Corn Fund [Member] | Teucrium Trading, LLC [Member] | ||||||
Management Fee, Percentage of Average Daily Net Assets | 1% |
Note 3 - Summary of Signific_21
Note 3 - Summary of Significant Accounting Policies - Total Brokerage Commissions Paid - Teucrium Corn Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Brokerage Commissions | $ 667,746 | $ 240,134 | $ 240,922 |
Teucrium Corn Fund [Member] | |||
Brokerage Commissions | $ 217,050 | $ 141,674 | $ 149,619 |
Note 3 - Summary of Signific_22
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents - Teucrium Corn Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Money Market Funds | $ 188,640,417 | $ 32,968,833 | $ 61,121,678 |
Demand Deposit Savings Accounts | 46,061,819 | 99,262,744 | 95,809,411 |
Commercial Paper | 199,360,060 | 119,980,366 | 152,447,206 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | 434,062,296 | 252,211,943 | 309,378,295 |
Teucrium Corn Fund [Member] | |||
Money Market Funds | 52,555,915 | 11,399,662 | 27,496,317 |
Demand Deposit Savings Accounts | 25,538,663 | 50,122,297 | 40,210,208 |
Commercial Paper | 64,340,159 | 53,490,781 | 70,474,536 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 142,434,737 | $ 115,012,740 | $ 138,181,061 |
Note 3 - Summary of Signific_23
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions - Teucrium Corn Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Amount Recognized | $ 2,721,842 | $ 2,321,539 | $ 2,279,672 |
Amount Waived | 518,599 | 1,052,715 | 775,432 |
Teucrium Corn Fund [Member] | |||
Amount Recognized | 827,230 | 1,095,188 | 1,089,985 |
Amount Waived | $ 149,721 | $ 535,622 | $ 493,231 |
Note 3 - Summary of Signific_24
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor - Teucrium Corn Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expenses waived by the Sponsor | $ 1,277,037 | $ 2,183,856 | $ 1,580,551 |
Teucrium Corn Fund [Member] | |||
Expenses waived by the Sponsor | $ 345,855 | $ 1,060,261 | $ 849,396 |
Note 4 - Fair Value Measurem_16
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Corn Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Cash Equivalents | $ 388,000,477 | $ 152,949,199 |
Total | 396,207,858 | 166,364,500 |
Commodity and Cryptocurrency Futures Contracts | 29,433,069 | 735,475 |
Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,585,798 | 5,936,552 |
Commodity and Cryptocurrency Futures Contracts | 2,967,103 | |
Teucrium Corn Fund [Member] | ||
Cash Equivalents | 116,896,074 | 64,890,443 |
Total | 118,481,872 | 70,826,995 |
Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,585,798 | 5,936,552 |
Commodity and Cryptocurrency Futures Contracts | 2,967,103 | |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 388,000,477 | 152,949,199 |
Total | 396,207,858 | 166,364,500 |
Commodity and Cryptocurrency Futures Contracts | 29,433,069 | 735,475 |
Fair Value, Inputs, Level 1 [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,585,798 | 5,936,552 |
Commodity and Cryptocurrency Futures Contracts | 2,967,103 | |
Fair Value, Inputs, Level 1 [Member] | Teucrium Corn Fund [Member] | ||
Cash Equivalents | 116,896,074 | 64,890,443 |
Total | 118,481,872 | 70,826,995 |
Fair Value, Inputs, Level 1 [Member] | Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,585,798 | 5,936,552 |
Commodity and Cryptocurrency Futures Contracts | 2,967,103 | |
Fair Value, Inputs, Level 2 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | |
Fair Value, Inputs, Level 2 [Member] | Teucrium Corn Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | |
Fair Value, Inputs, Level 3 [Member] | Teucrium Corn Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | $ 0 |
Commodity and Cryptocurrency Futures Contracts | $ 0 |
Note 5 - Derivative Instrume_16
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Corn Fund (Details Textual) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Derivative, Notional Amount | $ 653.8 | $ 321.8 | $ 224.9 |
Teucrium Corn Fund [Member] | |||
Derivative, Notional Amount | $ 212.2 | $ 149.9 | $ 96.5 |
Note 5 - Derivative Instrume_17
Note 5 - Derivative Instruments and Hedging Activities - Offsetting of Financial Assets and Liabilities and Derivative Assets and Liabilities - Teucrium Corn Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Derivative liabilities | $ 29,433,069 | $ 735,475 |
Corn Futures Contracts [Member] | ||
Gross amount of recognized assets | 1,585,798 | 5,936,552 |
Gross amount offset, assets | 0 | 0 |
Derivative asset | 1,585,798 | 5,936,552 |
Available for offset, assets | 1,585,798 | 0 |
Collateral, due to broker, assets | 0 | 0 |
Net amount, assets | 0 | 5,936,552 |
Gross amount of recognized liabilities | 2,967,103 | |
Gross amount offset, liabilities | 0 | |
Derivative liabilities | 2,967,103 | |
Futures contracts available for offset, liabilities | 1,585,798 | |
Collateral, due from broker, liabilities | 1,381,305 | |
Net amount, liabilities | 0 | |
Corn Futures Contracts [Member] | Teucrium Corn Fund [Member] | ||
Gross amount of recognized assets | 1,585,798 | 5,936,552 |
Gross amount offset, assets | 0 | 0 |
Derivative asset | 1,585,798 | 5,936,552 |
Available for offset, assets | 1,585,798 | 0 |
Collateral, due to broker, assets | 0 | 0 |
Net amount, assets | 0 | $ 5,936,552 |
Gross amount of recognized liabilities | 2,967,103 | |
Gross amount offset, liabilities | 0 | |
Derivative liabilities | 2,967,103 | |
Futures contracts available for offset, liabilities | 1,585,798 | |
Collateral, due from broker, liabilities | 1,381,305 | |
Net amount, liabilities | $ 0 |
Note 5 - Derivative Instrume_18
Note 5 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) on Derivative Instruments - Teucrium Corn Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Realized Gain on Commodity Futures Contracts | $ (43,176,670) | $ 117,839,481 | $ 25,091,898 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (33,905,514) | (29,744,871) | 35,293,415 |
Teucrium Corn Fund [Member] | |||
Realized Gain on Commodity Futures Contracts | 28,784,977 | 65,827,118 | 5,882,216 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (7,317,857) | (14,218,054) | 19,371,125 |
Corn Futures Contracts [Member] | |||
Realized Gain on Commodity Futures Contracts | 28,784,977 | 65,827,118 | 5,882,216 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (7,317,857) | (14,218,054) | 19,371,125 |
Corn Futures Contracts [Member] | Teucrium Corn Fund [Member] | |||
Realized Gain on Commodity Futures Contracts | 28,784,977 | 65,827,118 | 5,882,216 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ (7,317,857) | $ (14,218,054) | $ 19,371,125 |
Note 6 - Financial Highlight_11
Note 6 - Financial Highlights - Schedule of Per Share Performance Data and Other Supplemental Financial Data - Teucrium Corn Fund (Details) - Teucrium Corn Fund [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net asset value per share at beginning of period (in dollars per share) | $ 21.58 | $ 15.54 | $ 14.82 |
Income (loss) from investment operations: | |||
Investment income (in dollars per share) | 0.43 | 0.03 | 0.08 |
Net realized and unrealized gain on commodity futures contracts (in dollars per share) | 5.34 | 6.38 | 0.97 |
Total expenses, net (in dollars per share) | (0.45) | (0.37) | (0.33) |
Net increase in net asset value (in dollars per share) | 5.32 | 6.04 | 0.72 |
Net asset value per share at end of period (in dollars per share) | $ 26.90 | $ 21.58 | $ 15.54 |
Total Return | 24.64% | 38.88% | 4.83% |
Ratios to Average Net Assets (Annualized) | |||
Total expenses | 1.88% | 2.62% | 3.40% |
Total expenses, net | 1.72% | 1.91% | 2.50% |
Net investment loss | (0.10%) | (1.74%) | (1.86%) |
Schedule of Investments - Inv_2
Schedule of Investments - Investments - Teucrium Soybean Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Soybean Futures Contracts [Member] | CBOT Soybean Futures MAR22 [Member] | ||
Fair value | $ 591,547 | |
Percentage of net assets | 0.22% | |
Number of contracts | 234 | |
Notional amount, asset | $ 15,669,225 | |
Soybean Futures Contracts [Member] | CBOT Soybean Futures MAR22 [Member] | Teucrium Soybean Fund [Member] | ||
Fair value | $ 591,547 | |
Percentage of net assets | 1.32% | |
Number of contracts | 234 | |
Notional amount, asset | $ 15,669,225 | |
Soybean Futures Contracts [Member] | CBOT Soybean Futures MAY22 [Member] | ||
Fair value | $ 1,008,504 | |
Percentage of net assets | 0.38% | |
Number of contracts | 199 | |
Notional amount, asset | $ 13,422,550 | |
Soybean Futures Contracts [Member] | CBOT Soybean Futures MAY22 [Member] | Teucrium Soybean Fund [Member] | ||
Fair value | $ 1,008,504 | |
Percentage of net assets | 2.24% | |
Number of contracts | 199 | |
Notional amount, asset | $ 13,422,550 | |
Soybean Futures Contracts [Member] | CBOT Soybean Futures MAR23 [Member] | ||
Fair value | $ 642,912,000 | |
Percentage of net assets | 0.14% | |
Number of contracts | 268 | |
Notional amount, asset | $ 20,421,600,000 | |
Soybean Futures Contracts [Member] | CBOT Soybean Futures NOV22 [Member] | ||
Fair value | $ 1,084,800 | |
Percentage of net assets | 0.41% | |
Number of contracts | 250 | |
Notional amount, asset | $ 15,865,625 | |
Soybean Futures Contracts [Member] | CBOT Soybean Futures NOV22 [Member] | Teucrium Soybean Fund [Member] | ||
Fair value | $ 1,084,800 | |
Percentage of net assets | 2.41% | |
Number of contracts | 250 | |
Notional amount, asset | $ 15,865,625 | |
Soybean Futures Contracts [Member] | CBOT Soybean Futures MAY23 [Member] | ||
Fair value | $ 807,218,000 | |
Percentage of net assets | 0.17% | |
Number of contracts | 229 | |
Notional amount, asset | $ 17,518,500,000 | |
Soybean Futures Contracts [Member] | CBOT Soybean Futures NOV23 [Member] | ||
Fair value | $ 1,070,240,000 | |
Percentage of net assets | 0.23% | |
Number of contracts | 289 | |
Notional amount, asset | $ 20,472,038,000 | |
Money Market Funds [Member] | ||
Cost | 188,640,417 | 32,968,833 |
Fair value | $ 188,640,417 | $ 32,968,833 |
Percentage of net assets | 40.54% | 12.48% |
Shares (in shares) | ||
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 4.105% | 0.026% |
Cost | $ 28,382,122 | $ 30,443,449 |
Fair value | $ 28,382,122 | $ 30,443,449 |
Percentage of net assets | 6.10% | 11.52% |
Shares (in shares) | 28,382,122 | 30,443,449 |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 4.14% | 0.03% |
Cost | $ 160,258,295 | $ 2,525,384 |
Fair value | $ 160,258,295 | $ 2,525,384 |
Percentage of net assets | 34.44% | 0.96% |
Shares (in shares) | 160,258,295 | 2,525,384 |
Money Market Funds [Member] | Teucrium Soybean Fund [Member] | ||
Cost | $ 25,631,042 | $ 11,462,494 |
Fair value | $ 25,631,042 | $ 11,462,494 |
Percentage of net assets | 43.87% | 25.49% |
Shares (in shares) | ||
Money Market Funds [Member] | Teucrium Soybean Fund [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 4.105% | 0.026% |
Cost | $ 10,287,270 | $ 8,951,314 |
Fair value | $ 10,287,270 | $ 8,951,314 |
Percentage of net assets | 17.61% | 19.91% |
Shares (in shares) | 10,287,270 | 8,951,314 |
Money Market Funds [Member] | Teucrium Soybean Fund [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 4.14% | 0.03% |
Cost | $ 15,343,772 | $ 2,511,180 |
Fair value | $ 15,343,772 | $ 2,511,180 |
Percentage of net assets | 26.26% | 5.58% |
Shares (in shares) | 15,343,772 | 2,511,180 |
Commercial Paper [Member] | ||
Cost | $ 198,351,250 | $ 119,951,019 |
Fair value | $ 199,360,060 | $ 119,980,366 |
Percentage of net assets | 42.84% | 45.38% |
Commercial Paper [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 0.17% | |
Cost | $ 2,499,021 | |
Fair value | $ 2,499,717 | |
Percentage of net assets | 0.95% | |
Maturity date | Jan. 25, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Entergy Corporation [Member] | ||
Index | 4.311% | |
Cost | $ 9,926,808 | |
Fair value | $ 9,996,460 | |
Percentage of net assets | 2.15% | |
Maturity date | Jan. 04, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Humana Inc. [Member] | ||
Index | 4.67% | 0.14% |
Cost | $ 7,448,250 | $ 4,998,425 |
Fair value | $ 7,492,333 | $ 4,999,883 |
Percentage of net assets | 1.61% | 1.89% |
Maturity date | Jan. 09, 2023 | Jan. 07, 2022 |
Principal amount | $ 7,500,000 | $ 5,000,000 |
Commercial Paper [Member] | VW Credit, Inc. [Member] | ||
Index | 4.434% | |
Cost | $ 7,448,106 | |
Fair value | $ 7,483,613 | |
Percentage of net assets | 1.61% | |
Maturity date | Jan. 19, 2023 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Teucrium Soybean Fund [Member] | ||
Cost | 27,309,189 | 21,491,758 |
Fair value | $ 27,438,032 | $ 21,497,453 |
Percentage of net assets | 46.96% | 47.80% |
Commercial Paper [Member] | Teucrium Soybean Fund [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 4.734% | |
Cost | $ 4,959,225 | |
Fair value | $ 4,989,644 | |
Percentage of net assets | 8.54% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Teucrium Soybean Fund [Member] | CNH Industrial Capital LLC [Member] | ||
Index | 4.566% | |
Cost | $ 2,483,750 | |
Fair value | $ 2,493,125 | |
Percentage of net assets | 4.27% | |
Maturity date | Jan. 23, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Soybean Fund [Member] | Entergy Corporation [Member] | ||
Index | 4.311% | |
Cost | $ 2,481,702 | |
Fair value | $ 2,499,115 | |
Percentage of net assets | 4.28% | |
Maturity date | Jan. 04, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Soybean Fund [Member] | Humana Inc. [Member] | ||
Index | 4.67% | |
Cost | $ 2,482,750 | |
Fair value | $ 2,497,444 | |
Percentage of net assets | 4.27% | |
Maturity date | Jan. 09, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Soybean Fund [Member] | VW Credit, Inc. [Member] | ||
Index | 4.434% | |
Cost | $ 2,482,702 | |
Fair value | $ 2,494,538 | |
Percentage of net assets | 4.27% | |
Maturity date | Jan. 19, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Soybean Fund [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 4.842% | |
Cost | $ 2,485,094 | |
Fair value | $ 2,485,756 | |
Percentage of net assets | 4.25% | |
Maturity date | Feb. 13, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 4.742% | |
Cost | $ 14,877,488 | |
Fair value | $ 14,968,886 | |
Percentage of net assets | 3.22% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 15,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Albemarle Corporation [Member] | ||
Index | 0.181% | |
Cost | $ 9,996,324 | |
Fair value | $ 9,998,489 | |
Percentage of net assets | 3.78% | |
Maturity date | Jan. 31, 2022 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Investment One [Member] | CNH Industrial Capital LLC [Member] | ||
Index | 4.566% | |
Cost | $ 9,935,000 | |
Fair value | $ 9,972,500 | |
Percentage of net assets | 2.14% | |
Maturity date | Jan. 23, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Conagra Brands, Inc. [Member] | ||
Index | 0.16% | |
Cost | $ 7,497,300 | |
Fair value | $ 7,499,867 | |
Percentage of net assets | 2.84% | |
Maturity date | Jan. 05, 2022 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Crown Castle Inc. [Member] | ||
Index | 4.877% | |
Cost | $ 7,443,000 | |
Fair value | $ 7,491,000 | |
Percentage of net assets | 1.61% | |
Maturity date | Jan. 10, 2023 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Investment One [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 4.276% | 0.16% |
Cost | $ 12,400,060 | $ 4,998,000 |
Fair value | $ 12,486,207 | $ 4,999,889 |
Percentage of net assets | 2.68% | 1.89% |
Maturity date | Jan. 10, 2023 | Jan. 06, 2022 |
Principal amount | $ 12,500,000 | $ 5,000,000 |
Commercial Paper [Member] | Investment One [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 4.721% | 0.167% |
Cost | $ 5,263,032 | $ 9,996,061 |
Fair value | $ 5,298,631 | $ 9,999,444 |
Percentage of net assets | 1.14% | 3.78% |
Maturity date | Jan. 03, 2023 | Jan. 13, 2022 |
Principal amount | $ 5,300,000 | $ 10,000,000 |
Commercial Paper [Member] | Investment One [Member] | V.F. Corporation [Member] | ||
Index | 4.364% | |
Cost | $ 4,959,390 | |
Fair value | $ 4,990,444 | |
Percentage of net assets | 1.07% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Viatris Inc. [Member] | ||
Index | 0.25% | |
Cost | $ 4,997,466 | |
Fair value | $ 4,998,577 | |
Percentage of net assets | 1.89% | |
Maturity date | Feb. 11, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 4.842% | |
Cost | $ 4,970,188 | |
Fair value | $ 4,971,512 | |
Percentage of net assets | 1.07% | |
Maturity date | Feb. 13, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Soybean Fund [Member] | Albemarle Corporation [Member] | ||
Index | 0.20% | |
Cost | $ 2,499,417 | |
Fair value | $ 2,499,861 | |
Percentage of net assets | 5.56% | |
Maturity date | Jan. 11, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Soybean Fund [Member] | Conagra Brands, Inc. [Member] | ||
Index | 0.16% | |
Cost | $ 2,499,000 | |
Fair value | $ 2,499,956 | |
Percentage of net assets | 5.56% | |
Maturity date | Jan. 05, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Soybean Fund [Member] | Crown Castle Inc. [Member] | ||
Index | 4.877% | |
Cost | $ 2,481,000 | |
Fair value | $ 2,497,000 | |
Percentage of net assets | 4.27% | |
Maturity date | Jan. 10, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Soybean Fund [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 0.20% | |
Cost | $ 3,998,044 | |
Fair value | $ 3,999,333 | |
Percentage of net assets | 8.89% | |
Maturity date | Jan. 31, 2022 | |
Principal amount | $ 4,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Soybean Fund [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 0.17% | |
Cost | $ 2,498,938 | |
Fair value | $ 2,499,634 | |
Percentage of net assets | 5.56% | |
Maturity date | Feb. 01, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Soybean Fund [Member] | V.F. Corporation [Member] | ||
Index | 4.364% | |
Cost | $ 2,479,695 | |
Fair value | $ 2,495,222 | |
Percentage of net assets | 4.27% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Soybean Fund [Member] | Viatris Inc. [Member] | ||
Index | 0.30% | |
Cost | $ 2,498,312 | |
Fair value | $ 2,499,146 | |
Percentage of net assets | 5.55% | |
Maturity date | Feb. 11, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 4.734% | |
Cost | $ 4,959,225 | |
Fair value | $ 4,989,644 | |
Percentage of net assets | 1.07% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Albemarle Corporation [Member] | ||
Index | 0.20% | |
Cost | $ 4,998,834 | |
Fair value | $ 4,999,722 | |
Percentage of net assets | 1.89% | |
Maturity date | Jan. 11, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | CNH Industrial Capital LLC [Member] | ||
Index | 4.78% | |
Cost | $ 9,899,472 | |
Fair value | $ 9,943,862 | |
Percentage of net assets | 2.14% | |
Maturity date | Feb. 13, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Conagra Brands, Inc. [Member] | ||
Index | 0.15% | |
Cost | $ 4,998,710 | |
Fair value | $ 4,999,646 | |
Percentage of net assets | 1.89% | |
Maturity date | Jan. 18, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Crown Castle Inc. [Member] | ||
Index | 4.765% | |
Cost | $ 12,449,410 | |
Fair value | $ 12,482,050 | |
Percentage of net assets | 2.68% | |
Maturity date | Jan. 12, 2023 | |
Principal amount | $ 12,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 4.473% | 0.20% |
Cost | $ 7,418,417 | $ 9,995,111 |
Fair value | $ 7,484,417 | $ 9,998,333 |
Percentage of net assets | 1.61% | 3.78% |
Maturity date | Jan. 18, 2023 | Jan. 31, 2022 |
Principal amount | $ 7,500,000 | $ 10,000,000 |
Commercial Paper [Member] | Investment Two [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 4.944% | 0.17% |
Cost | $ 7,458,402 | $ 4,997,876 |
Fair value | $ 7,475,650 | $ 4,999,268 |
Percentage of net assets | 1.61% | 1.89% |
Maturity date | Jan. 25, 2023 | Feb. 01, 2022 |
Principal amount | $ 7,500,000 | $ 5,000,000 |
Commercial Paper [Member] | Investment Two [Member] | V.F. Corporation [Member] | ||
Index | 4.669% | |
Cost | $ 6,456,811 | |
Fair value | $ 6,473,422 | |
Percentage of net assets | 1.39% | |
Maturity date | Feb. 02, 2023 | |
Principal amount | $ 6,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Viatris Inc. [Member] | ||
Index | 0.30% | |
Cost | $ 4,996,625 | |
Fair value | $ 4,998,292 | |
Percentage of net assets | 1.89% | |
Maturity date | Feb. 11, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 4.827% | |
Cost | $ 4,959,098 | |
Fair value | $ 4,961,736 | |
Percentage of net assets | 1.07% | |
Maturity date | Feb. 28, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Soybean Fund [Member] | Conagra Brands, Inc. [Member] | ||
Index | 0.15% | |
Cost | $ 2,499,355 | |
Fair value | $ 2,499,823 | |
Percentage of net assets | 5.56% | |
Maturity date | Jan. 18, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Soybean Fund [Member] | Crown Castle Inc. [Member] | ||
Index | 4.765% | |
Cost | $ 2,489,882 | |
Fair value | $ 2,496,410 | |
Percentage of net assets | 4.27% | |
Maturity date | Jan. 12, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Soybean Fund [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 0.16% | |
Cost | $ 2,499,400 | |
Fair value | $ 2,499,978 | |
Percentage of net assets | 5.56% | |
Maturity date | Jan. 03, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Soybean Fund [Member] | V.F. Corporation [Member] | ||
Index | 4.669% | |
Cost | $ 2,483,389 | |
Fair value | $ 2,489,778 | |
Percentage of net assets | 4.26% | |
Maturity date | Feb. 02, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Soybean Fund [Member] | Viatris Inc. [Member] | ||
Index | 0.20% | |
Cost | $ 2,499,292 | |
Fair value | $ 2,499,722 | |
Percentage of net assets | 5.56% | |
Maturity date | Jan. 21, 2022 | |
Principal amount | $ 2,500,000 | |
Commodity Futures Contracts [Member] | ||
Fair value | $ 13,415,301 | |
Percentage of net assets | 5.07% | |
Notional amount, asset | $ 234,855,437 | |
Commodity Futures Contracts [Member] | Teucrium Soybean Fund [Member] | ||
Fair value | $ 2,520,370 | $ 2,684,851 |
Percentage of net assets | 4.30% | 5.97% |
Notional amount, asset | $ 58,412,138 | $ 44,957,400 |
Commodity Futures Contracts [Member] | CBOT Soybean Futures MAR23 [Member] | Teucrium Soybean Fund [Member] | ||
Fair value | $ 642,912 | |
Percentage of net assets | 1.10% | |
Number of contracts | 268 | |
Notional amount, asset | $ 20,421,600 | |
Commodity Futures Contracts [Member] | CBOT Soybean Futures MAY23 [Member] | Teucrium Soybean Fund [Member] | ||
Fair value | $ 807,218 | |
Percentage of net assets | 1.38% | |
Number of contracts | 229 | |
Notional amount, asset | $ 17,518,500 | |
Commodity Futures Contracts [Member] | CBOT Soybean Futures NOV23 [Member] | Teucrium Soybean Fund [Member] | ||
Fair value | $ 1,070,240 | |
Percentage of net assets | 1.82% | |
Number of contracts | 289 | |
Notional amount, asset | $ 20,472,038 | |
Cash and Cash Equivalents [Member] | ||
Fair value | $ 388,000,477 | $ 152,949,199 |
Percentage of net assets | 83.37% | 57.86% |
Cash and Cash Equivalents [Member] | Teucrium Soybean Fund [Member] | ||
Fair value | $ 53,069,074 | $ 32,959,947 |
Percentage of net assets | 90.83% | 73.29% |
Note 1 - Organization and Op_17
Note 1 - Organization and Operation - Teucrium Soybean Fund (Details Textual) | 12 Months Ended | |||
Sep. 16, 2011 USD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) shares | |
Stock Issued During Period, Value, New Issues | $ | $ 1,251,138,564 | $ 176,346,175 | $ 305,719,849 | |
Teucrium Sugar Fund [Member] | ||||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | |||
Number of Creation Baskets Issued | 2 | |||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 100,000 | 2,800,000 | 1,700,000 | 1,575,000 |
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 27,142,395 | $ 14,673,718 | $ 9,284,965 |
Teucrium Sugar Fund [Member] | Soybean Futures Contracts [Member] | ||||
Derivative, Number of Instruments Held, Total | 3 |
Note 1 - Organization and Op_18
Note 1 - Organization and Operation - Benchmark - Teucrium Soybean Fund (Details) - Teucrium Soybean Fund [Member] | Dec. 31, 2022 |
Second to Expire [Member] | |
Weighting | 35% |
Third to Expire [Member] | |
Weighting | 30% |
Expiring in the November Following the Expiration of the Third to Expire Contract [Member] | |
Weighting | 35% |
Note 2 - Principal Contracts_19
Note 2 - Principal Contracts and Agreements - Teucrium Soybean Fund (Details Textual) | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
U.S. Bank N.A. [Member] | Custody Services [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, Up to One Billion | 0.0075% |
Related Party Transaction, Percentage of Average Gross Assets, Over One Billion | 0.005% |
U.S. Bank N.A. [Member] | Custody Services [Member] | Teucrium Soybean Fund [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, Up to One Billion | 0.0075% |
Related Party Transaction, Percentage of Average Gross Assets, Over One Billion | 0.005% |
Global Fund Services [Member] | Transfer Agency, Fund Accounting and Fund Administration Services [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, First 500 Million | 0.05% |
Related Party Transaction, Percentage of Average Gross Assets, Second 500 Million | 0.04% |
Related Party Transaction, Percentage of Average Gross Assets, Next Two Billion | 0.03% |
Related Party Transaction, Percentage of Average Gross Assets, Over Three Billion | 0.02% |
Global Fund Services [Member] | Transfer Agency, Fund Accounting and Fund Administration Services [Member] | Teucrium Soybean Fund [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, First 500 Million | 0.05% |
Related Party Transaction, Percentage of Average Gross Assets, Second 500 Million | 0.04% |
Related Party Transaction, Percentage of Average Gross Assets, Next Two Billion | 0.03% |
Related Party Transaction, Percentage of Average Gross Assets, Over Three Billion | 0.02% |
U.S. Bank N.A. and Global Fund Services [Member] | Custody, Transfer Agency, Fund Accounting and Fund Administration Services [Member] | |
Related Party Transaction, Minimum Annual Fee Per Fund | $ 47,000 |
U.S. Bank N.A. and Global Fund Services [Member] | Custody, Transfer Agency, Fund Accounting and Fund Administration Services [Member] | Teucrium Soybean Fund [Member] | |
Related Party Transaction, Minimum Annual Fee Per Fund | $ 47,000 |
Foreside Fund Services, LLC [Member] | Distribution Services Agreement [Member] | |
Related Party Transaction, Percentage of Average Daily Net Assets | 0.01% |
Related Party Transaction, Aggregate Annual Fee for all Funds | $ 100,000 |
Foreside Fund Services, LLC [Member] | Distribution Services Agreement [Member] | Teucrium Soybean Fund [Member] | |
Related Party Transaction, Percentage of Average Daily Net Assets | 0.01% |
Related Party Transaction, Aggregate Annual Fee for all Funds | $ 100,000 |
Foreside Fund Services, LLC [Member] | Securities Activities and Service Agreement (SASA) [Member] | |
Related Party Transaction, Fee Per Registered Representative | 5,000 |
Related Party Transaction, Fee Per Registered Location | 1,000 |
Foreside Fund Services, LLC [Member] | Securities Activities and Service Agreement (SASA) [Member] | Teucrium Soybean Fund [Member] | |
Related Party Transaction, Fee Per Registered Representative | 5,000 |
Related Party Transaction, Fee Per Registered Location | 1,000 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | 11 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | Teucrium Soybean Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | 11 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.50 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 20% |
Related Party Transaction, Exchange Maintenance Margin | 9.60% |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | Teucrium Soybean Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.50 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 20% |
Related Party Transaction, Exchange Maintenance Margin | 9.60% |
Wilmington Trust Company [Member] | |
Related Party Transaction, Annual Fee | $ 3,300 |
Wilmington Trust Company [Member] | Teucrium Soybean Fund [Member] | |
Related Party Transaction, Annual Fee | 3,300 |
Thales Capital Partners LLC [Member] | Distribution and Solicitation-related Services [Member] | |
Related Party Transaction, Quarterly Fee Amount | $ 18,750 |
Related Party Transaction, Percentage of New Assets in Referred Accounts | 0.10% |
Thales Capital Partners LLC [Member] | Distribution and Solicitation-related Services [Member] | Teucrium Soybean Fund [Member] | |
Related Party Transaction, Quarterly Fee Amount | $ 18,750 |
Related Party Transaction, Percentage of New Assets in Referred Accounts | 0.10% |
Note 2 - Principal Contracts_20
Note 2 - Principal Contracts and Agreements - Summary of Expenses - Teucrium Soybean Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Amount Recognized | $ 2,721,842 | $ 2,321,539 | $ 2,279,672 |
Amount Waived | 518,599 | 1,052,715 | 775,432 |
Wilmington Trust Company [Member] | |||
Amount Recognized | 3,300 | 3,300 | 3,300 |
Amount Waived | 550 | 991 | 2,215 |
Thales Capital Partners LLC [Member] | |||
Amount Recognized | 278,958 | 297,222 | 116,901 |
Amount Waived | 106,944 | 153,198 | 57,988 |
Teucrium Soybean Fund [Member] | |||
Amount Recognized | 261,124 | 571,585 | 547,998 |
Amount Waived | 32,056 | 288,098 | 194,347 |
Teucrium Soybean Fund [Member] | Wilmington Trust Company [Member] | |||
Amount Recognized | 550 | 631 | 1,073 |
Amount Waived | 0 | 631 | 0 |
Teucrium Soybean Fund [Member] | Thales Capital Partners LLC [Member] | |||
Amount Recognized | 27,880 | 78,988 | 28,871 |
Amount Waived | 0 | 31,340 | 21,770 |
Custody Services [Member] | |||
Amount Recognized | 410,660 | 363,000 | 369,293 |
Amount Waived | 42,625 | 120,850 | 71,342 |
Custody Services [Member] | Teucrium Soybean Fund [Member] | |||
Amount Recognized | 37,114 | 91,007 | 86,875 |
Amount Waived | 4,000 | 30,326 | 667 |
Distribution Services [Member] | |||
Amount Recognized | 200,313 | 186,531 | 180,024 |
Amount Waived | 48,593 | 94,724 | 68,140 |
Distribution Services [Member] | Teucrium Soybean Fund [Member] | |||
Amount Recognized | 19,183 | 46,195 | 43,517 |
Amount Waived | $ 3,962 | $ 24,812 | $ 23,156 |
Note 3 - Summary of Signific_25
Note 3 - Summary of Significant Accounting Policies - Teucrium Soybean Fund (Details Textual) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2021 USD ($) | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | |
Open Tax Year | 2019 2020 2021 2022 | ||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | 0 | 0 | 0 | |
Teucrium Soybean Fund [Member] | |||||
Open Tax Year | 2019 2020 2021 2022 | ||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | 0 | 0 | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | $ 0 | $ 0 | $ 0 | |
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | ||||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 25,000 | ||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | ||||
Minimum Number of RedemptionBaskets | 2 | ||||
Change Unrealized Excess Reported CBOT Values | $ 279,750 | ||||
Teucrium Soybean Fund [Member] | Teucrium Trading, LLC [Member] | |||||
Management Fee, Percentage of Average Daily Net Assets | 1% |
Note 3 - Summary of Signific_26
Note 3 - Summary of Significant Accounting Policies - Total Brokerage Commissions Paid - Teucrium Soybean Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Brokerage Commissions | $ 667,746 | $ 240,134 | $ 240,922 |
Teucrium Soybean Fund [Member] | |||
Brokerage Commissions | $ 27,011 | $ 29,889 | $ 35,880 |
Note 3 - Summary of Signific_27
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents - Teucrium Soybean Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Money Market Funds | $ 188,640,417 | $ 32,968,833 | $ 61,121,678 |
Demand Deposit Savings Accounts | 46,061,819 | 99,262,744 | 95,809,411 |
Commercial Paper | 199,360,060 | 119,980,366 | 152,447,206 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | 434,062,296 | 252,211,943 | 309,378,295 |
Teucrium Soybean Fund [Member] | |||
Money Market Funds | 25,631,042 | 11,462,494 | 13,242,009 |
Demand Deposit Savings Accounts | 5,143,495 | 10,059,937 | 32,671,497 |
Commercial Paper | 27,438,032 | 21,497,453 | 44,484,885 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 58,212,569 | $ 43,019,884 | $ 90,398,391 |
Note 3 - Summary of Signific_28
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions - Teucrium Soybean Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Amount Recognized | $ 2,721,842 | $ 2,321,539 | $ 2,279,672 |
Amount Waived | 518,599 | 1,052,715 | 775,432 |
Teucrium Soybean Fund [Member] | |||
Amount Recognized | 261,124 | 571,585 | 547,998 |
Amount Waived | $ 32,056 | $ 288,098 | $ 194,347 |
Note 3 - Summary of Signific_29
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor - Teucrium Soybean Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expenses waived by the Sponsor | $ 1,277,037 | $ 2,183,856 | $ 1,580,551 |
Teucrium Soybean Fund [Member] | |||
Expenses waived by the Sponsor | $ 89,562 | $ 576,014 | $ 399,518 |
Note 4 - Fair Value Measurem_17
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Soybean Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Cash Equivalents | $ 388,000,477 | $ 152,949,199 |
Total | 396,207,858 | 166,364,500 |
Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 2,520,370 | 2,684,851 |
Teucrium Soybean Fund [Member] | ||
Cash Equivalents | 53,069,074 | 32,959,947 |
Total | 55,589,444 | 35,644,798 |
Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 2,520,370 | 2,684,851 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 388,000,477 | 152,949,199 |
Total | 396,207,858 | 166,364,500 |
Fair Value, Inputs, Level 1 [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 2,520,370 | 2,684,851 |
Fair Value, Inputs, Level 1 [Member] | Teucrium Soybean Fund [Member] | ||
Cash Equivalents | 53,069,074 | 32,959,947 |
Total | 55,589,444 | 35,644,798 |
Fair Value, Inputs, Level 1 [Member] | Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 2,520,370 | 2,684,851 |
Fair Value, Inputs, Level 2 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Teucrium Soybean Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Teucrium Soybean Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | $ 0 | $ 0 |
Note 5 - Derivative Instrume_19
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Soybean Fund (Details Textual) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Derivative, Notional Amount | $ 653.8 | $ 321.8 | $ 224.9 |
Teucrium Soybean Fund [Member] | |||
Derivative, Notional Amount | $ 67.3 | $ 70.2 | $ 61.4 |
Note 5 - Derivative Instrume_20
Note 5 - Derivative Instruments and Hedging Activities - Offsetting of Financial Assets and Liabilities and Derivative Assets and Liabilities - Teucrium Soybean Fund (Details) - Soybean Futures Contracts [Member] - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Gross amount of recognized assets | $ 2,520,370 | $ 2,684,851 |
Gross amount offset, assets | 0 | 0 |
Derivative asset | 2,520,370 | 2,684,851 |
Available for offset, assets | 0 | 0 |
Collateral, due to broker, assets | 0 | 675,169 |
Net amount, assets | 2,520,370 | 2,009,682 |
Teucrium Soybean Fund [Member] | ||
Gross amount of recognized assets | 2,520,370 | 2,684,851 |
Gross amount offset, assets | 0 | 0 |
Derivative asset | 2,520,370 | 2,684,851 |
Available for offset, assets | 0 | 0 |
Collateral, due to broker, assets | 0 | 675,169 |
Net amount, assets | $ 2,520,370 | $ 2,009,682 |
Note 5 - Derivative Instrume_21
Note 5 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) on Derivative Instruments - Teucrium Soybean Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Realized Gain on Commodity Futures Contracts | $ (43,176,670) | $ 117,839,481 | $ 25,091,898 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (33,905,514) | (29,744,871) | 35,293,415 |
Teucrium Soybean Fund [Member] | |||
Realized Gain on Commodity Futures Contracts | 10,362,032 | 27,370,674 | 14,404,714 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (164,481) | (12,439,375) | 14,192,330 |
Soybean Futures Contracts [Member] | |||
Realized Gain on Commodity Futures Contracts | 10,362,032 | 27,370,674 | 14,404,714 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (164,481) | (12,439,375) | 14,192,330 |
Soybean Futures Contracts [Member] | Teucrium Soybean Fund [Member] | |||
Realized Gain on Commodity Futures Contracts | 10,362,032 | 27,370,674 | 14,404,714 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ (164,481) | $ (12,439,375) | $ 14,192,330 |
Note 6 - Financial Highlight_12
Note 6 - Financial Highlights - Schedule of Per Share Performance Data and Other Supplemental Financial Data - Teucrium Soybean Fund (Details) - Teucrium Soybean Fund [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net asset value per share at beginning of period (in dollars per share) | $ 22.77 | $ 19.49 | $ 15.85 |
Income (loss) from investment operations: | |||
Investment income (in dollars per share) | 0.45 | 0.04 | 0.07 |
Net realized and unrealized gain on commodity futures contracts (in dollars per share) | 5.76 | 3.67 | 3.94 |
Total expenses, net (in dollars per share) | (0.48) | (0.43) | (0.37) |
Net increase in net asset value (in dollars per share) | 5.73 | 3.28 | 3.64 |
Net asset value per share at end of period (in dollars per share) | $ 28.50 | $ 22.77 | $ 19.49 |
Total Return | 25.17% | 16.82% | 22.98% |
Ratios to Average Net Assets (Annualized) | |||
Total expenses | 1.92% | 2.76% | 3.03% |
Total expenses, net | 1.78% | 1.96% | 2.34% |
Net investment loss | (0.10%) | (1.79%) | (1.89%) |
Note 8 - Subsequent Events - _5
Note 8 - Subsequent Events - Teucrium Soybean Fund (Details Textual) - USD ($) | 2 Months Ended | 12 Months Ended | ||
Feb. 28, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Investment Company, Net Assets, Period Increase (Decrease), Total | $ 201,098,830 | $ (45,836,426) | $ 142,206,597 | |
Teucrium Soybean Fund [Member] | ||||
Investment Company, Net Assets, Period Increase (Decrease), Total | $ 13,457,360 | $ (44,206,237) | $ 61,043,731 | |
Subsequent Event [Member] | Teucrium Soybean Fund [Member] | ||||
Investment Company, Net Assets, Period Increase (Decrease), Total | $ (15,131,868) | |||
Investment Company, Net Assets, Period Increase (Decrease), Percentage | (26.00%) | |||
Investment Company, Net Assets, Period Increase (Decrease), Percentage, Shares Outstanding | (23.00%) | |||
Investment Company, Net Asset Value Per Share, Period Increase (Decrease), Percentage | (4.00%) |
Schedule of Investments - Inv_3
Schedule of Investments - Investments - Teucrium Sugar Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Money Market Funds [Member] | ||
Cost | $ 188,640,417 | $ 32,968,833 |
Fair value | $ 188,640,417 | $ 32,968,833 |
Percentage of net assets | 40.54% | 12.48% |
Shares (in shares) | ||
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | ||
Cost | $ 9,920,499 | $ 4,816,883 |
Fair value | $ 9,920,499 | $ 4,816,883 |
Percentage of net assets | 40.89% | 21.10% |
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 4.105% | 0.026% |
Cost | $ 28,382,122 | $ 30,443,449 |
Fair value | $ 28,382,122 | $ 30,443,449 |
Percentage of net assets | 6.10% | 11.52% |
Shares (in shares) | 28,382,122 | 30,443,449 |
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | Teucrium Sugar Fund [Member] | ||
Index | 4.105% | 0.026% |
Cost | $ 5,634,177 | $ 4,808,415 |
Fair value | $ 5,634,177 | $ 4,808,415 |
Percentage of net assets | 23.22% | 21.06% |
Shares (in shares) | 5,634,177 | 4,808,415 |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 4.14% | 0.03% |
Cost | $ 160,258,295 | $ 2,525,384 |
Fair value | $ 160,258,295 | $ 2,525,384 |
Percentage of net assets | 34.44% | 0.96% |
Shares (in shares) | 160,258,295 | 2,525,384 |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | Teucrium Sugar Fund [Member] | ||
Index | 4.14% | 0.03% |
Cost | $ 4,286,322 | $ 8,468 |
Fair value | $ 4,286,322 | $ 8,468 |
Percentage of net assets | 17.67% | 0.04% |
Shares (in shares) | 4,286,322 | 8,468 |
Commercial Paper [Member] | ||
Cost | $ 198,351,250 | $ 119,951,019 |
Fair value | $ 199,360,060 | $ 119,980,366 |
Percentage of net assets | 42.84% | 45.38% |
Commercial Paper [Member] | Teucrium Sugar Fund [Member] | ||
Cost | $ 9,922,209 | $ 7,497,919 |
Fair value | $ 9,987,304 | $ 7,499,540 |
Percentage of net assets | 41.16% | 32.84% |
Commercial Paper [Member] | Entergy Corporation [Member] | ||
Index | 4.311% | |
Cost | $ 9,926,808 | |
Fair value | $ 9,996,460 | |
Percentage of net assets | 2.15% | |
Maturity date | Jan. 04, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Entergy Corporation [Member] | Teucrium Sugar Fund [Member] | ||
Index | 4.311% | |
Cost | $ 2,481,702 | |
Fair value | $ 2,499,115 | |
Percentage of net assets | 10.30% | |
Maturity date | Jan. 04, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Jabil Inc. [Member] | ||
Index | 5.073% | |
Cost | $ 4,980,555 | |
Fair value | $ 4,991,667 | |
Percentage of net assets | 1.07% | |
Maturity date | Jan. 13, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Jabil Inc. [Member] | Teucrium Sugar Fund [Member] | ||
Index | 0.25% | |
Cost | $ 2,499,219 | |
Fair value | $ 2,499,670 | |
Percentage of net assets | 10.95% | |
Maturity date | Jan. 20, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | General Motors Financial Company, Inc. [Member] | Teucrium Sugar Fund [Member] | ||
Index | 4.276% | |
Cost | $ 2,475,149 | |
Fair value | $ 2,497,369 | |
Percentage of net assets | 10.29% | |
Maturity date | Jan. 10, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | WGL Holdings, Inc. [Member] | Teucrium Sugar Fund [Member] | ||
Index | 0.187% | |
Cost | $ 4,998,700 | |
Fair value | $ 4,999,870 | |
Percentage of net assets | 21.89% | |
Maturity date | Jan. 06, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Glencore Funding LLC [Member] | Teucrium Sugar Fund [Member] | ||
Index | 4.526% | |
Cost | $ 2,482,656 | |
Fair value | $ 2,496,283 | |
Percentage of net assets | 10.29% | |
Maturity date | Jan. 13, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | VW Credit, Inc. [Member] | ||
Index | 4.434% | |
Cost | $ 7,448,106 | |
Fair value | $ 7,483,613 | |
Percentage of net assets | 1.61% | |
Maturity date | Jan. 19, 2023 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | VW Credit, Inc. [Member] | Teucrium Sugar Fund [Member] | ||
Index | 4.434% | |
Cost | $ 2,482,702 | |
Fair value | $ 2,494,537 | |
Percentage of net assets | 10.28% | |
Maturity date | Jan. 19, 2023 | |
Principal amount | $ 2,500,000 | |
Commodity Futures Contracts [Member] | ||
Fair value | $ 13,415,301 | |
Percentage of net assets | 5.07% | |
Notional amount, asset | $ 234,855,437 | |
Commodity Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 735,475 | |
Percentage of net assets | 0.28% | |
Notional amount, liability | $ 29,484,966 | |
Commodity Futures Contracts [Member] | ICE Sugar Futures MAR24 [Member] | Liability [Member] | ||
Fair value | $ 85,128 | |
Percentage of net assets | 0.02% | |
Number of contracts | 427 | |
Notional amount, liability | $ 8,565,278 | |
Commodity Futures Contracts [Member] | ICE Sugar Futures JUL22 [Member] | Liability [Member] | ||
Fair value | $ 80,506 | |
Percentage of net assets | 0.03% | |
Number of contracts | 331 | |
Notional amount, liability | $ 6,817,541 | |
Commodity Futures Contracts [Member] | Teucrium Sugar Fund [Member] | ||
Fair value | $ 911,329 | $ 1,079,226 |
Percentage of net assets | 3.76% | 4.73% |
Notional amount, asset | $ 15,697,337 | $ 16,028,499 |
Commodity Futures Contracts [Member] | Teucrium Sugar Fund [Member] | ICE Sugar Futures MAY23 [Member] | ||
Fair value | $ 356,963 | |
Percentage of net assets | 1.47% | |
Number of contracts | 401 | |
Notional amount, asset | $ 8,407,526 | |
Commodity Futures Contracts [Member] | Teucrium Sugar Fund [Member] | ICE Sugar Futures JUL23 [Member] | ||
Fair value | $ 554,366 | |
Percentage of net assets | 2.29% | |
Number of contracts | 362 | |
Notional amount, asset | $ 7,289,811 | |
Sugar Futures Contracts [Member] | ICE Sugar Futures MAY23 [Member] | ||
Fair value | $ 356,963,000 | |
Percentage of net assets | 0.08% | |
Number of contracts | 401 | |
Notional amount, asset | $ 8,407,526,000 | |
Sugar Futures Contracts [Member] | ICE Sugar Futures MAY22 [Member] | ||
Fair value | $ 225,299 | |
Percentage of net assets | 0.09% | |
Number of contracts | 381 | |
Notional amount, asset | $ 7,936,992 | |
Sugar Futures Contracts [Member] | ICE Sugar Futures JUL23 [Member] | ||
Fair value | $ 554,366,000 | |
Percentage of net assets | 0.12% | |
Number of contracts | 362 | |
Notional amount, asset | $ 7,289,811,000 | |
Sugar Futures Contracts [Member] | ICE Sugar Futures MAR23 [Member] | ||
Fair value | $ 853,927 | |
Percentage of net assets | 0.32% | |
Number of contracts | 392 | |
Notional amount, asset | $ 8,091,507 | |
Sugar Futures Contracts [Member] | Teucrium Sugar Fund [Member] | ICE Sugar Futures MAR24 [Member] | Liability [Member] | ||
Fair value | $ 85,128 | |
Percentage of net assets | 0.35% | |
Number of contracts | 427 | |
Notional amount, liability | $ 8,565,278 | |
Sugar Futures Contracts [Member] | Teucrium Sugar Fund [Member] | ICE Sugar Futures MAY22 [Member] | ||
Fair value | $ 225,299 | |
Percentage of net assets | 0.99% | |
Number of contracts | 381 | |
Notional amount, asset | $ 7,936,992 | |
Sugar Futures Contracts [Member] | Teucrium Sugar Fund [Member] | ICE Sugar Futures JUL22 [Member] | Liability [Member] | ||
Fair value | $ 80,506 | |
Percentage of net assets | 0.35% | |
Number of contracts | 331 | |
Notional amount, liability | $ 6,817,541 | |
Sugar Futures Contracts [Member] | Teucrium Sugar Fund [Member] | ICE Sugar Futures MAR23 [Member] | ||
Fair value | $ 853,927 | |
Percentage of net assets | 3.74% | |
Number of contracts | 392 | |
Notional amount, asset | $ 8,091,507 | |
Cash and Cash Equivalents [Member] | ||
Fair value | $ 388,000,477 | $ 152,949,199 |
Percentage of net assets | 83.37% | 57.86% |
Cash and Cash Equivalents [Member] | Teucrium Sugar Fund [Member] | ||
Fair value | $ 19,907,803 | $ 12,316,423 |
Percentage of net assets | 82.05% | 53.94% |
Note 1 - Organization and Op_19
Note 1 - Organization and Operation - Teucrium Sugar Fund (Details Textual) | 12 Months Ended | |||
Sep. 16, 2011 USD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) shares | |
Stock Issued During Period, Value, New Issues | $ | $ 1,251,138,564 | $ 176,346,175 | $ 305,719,849 | |
Teucrium Sugar Fund [Member] | ||||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | |||
Number of Creation Baskets Issued | 2 | |||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 100,000 | 2,800,000 | 1,700,000 | 1,575,000 |
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 27,142,395 | $ 14,673,718 | $ 9,284,965 |
Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||||
Derivative, Number of Instruments Held, Total | 3 |
Note 1 - Organization and Op_20
Note 1 - Organization and Operation - Benchmark - Teucrium Corn Fund - Teucrium Sugar Fund (Details) - Teucrium Sugar Fund [Member] | Dec. 31, 2022 |
Second to Expire [Member] | |
Weighting | 35% |
Third to Expire [Member] | |
Weighting | 30% |
Expiring in the March Following the Expiration of the Third to Expire Contract [Member] | |
Weighting | 35% |
Note 2 - Principal Contracts_21
Note 2 - Principal Contracts and Agreements - Teucrium Sugar Fund (Details Textual) | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
U.S. Bank N.A. [Member] | Custody Services [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, Up to One Billion | 0.0075% |
Related Party Transaction, Percentage of Average Gross Assets, Over One Billion | 0.005% |
U.S. Bank N.A. [Member] | Custody Services [Member] | Teucrium Sugar Fund [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, Up to One Billion | 0.0075% |
Related Party Transaction, Percentage of Average Gross Assets, Over One Billion | 0.005% |
Global Fund Services [Member] | Transfer Agency, Fund Accounting and Fund Administration Services [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, First 500 Million | 0.05% |
Related Party Transaction, Percentage of Average Gross Assets, Second 500 Million | 0.04% |
Related Party Transaction, Percentage of Average Gross Assets, Next Two Billion | 0.03% |
Related Party Transaction, Percentage of Average Gross Assets, Over Three Billion | 0.02% |
Global Fund Services [Member] | Transfer Agency, Fund Accounting and Fund Administration Services [Member] | Teucrium Sugar Fund [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, First 500 Million | 0.05% |
Related Party Transaction, Percentage of Average Gross Assets, Second 500 Million | 0.04% |
Related Party Transaction, Percentage of Average Gross Assets, Next Two Billion | 0.03% |
Related Party Transaction, Percentage of Average Gross Assets, Over Three Billion | 0.02% |
U.S. Bank N.A. and Global Fund Services [Member] | Custody, Transfer Agency, Fund Accounting and Fund Administration Services [Member] | |
Related Party Transaction, Minimum Annual Fee Per Fund | $ 47,000 |
U.S. Bank N.A. and Global Fund Services [Member] | Custody, Transfer Agency, Fund Accounting and Fund Administration Services [Member] | Teucrium Sugar Fund [Member] | |
Related Party Transaction, Minimum Annual Fee Per Fund | $ 47,000 |
Foreside Fund Services, LLC [Member] | Distribution Services Agreement [Member] | |
Related Party Transaction, Percentage of Average Daily Net Assets | 0.01% |
Related Party Transaction, Aggregate Annual Fee for all Funds | $ 100,000 |
Foreside Fund Services, LLC [Member] | Distribution Services Agreement [Member] | Teucrium Sugar Fund [Member] | |
Related Party Transaction, Percentage of Average Daily Net Assets | 0.01% |
Related Party Transaction, Aggregate Annual Fee for all Funds | $ 100,000 |
Foreside Fund Services, LLC [Member] | Securities Activities and Service Agreement (SASA) [Member] | |
Related Party Transaction, Fee Per Registered Representative | 5,000 |
Related Party Transaction, Fee Per Registered Location | 1,000 |
Foreside Fund Services, LLC [Member] | Securities Activities and Service Agreement (SASA) [Member] | Teucrium Sugar Fund [Member] | |
Related Party Transaction, Fee Per Registered Representative | 5,000 |
Related Party Transaction, Fee Per Registered Location | 1,000 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | 11 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | Teucrium Sugar Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | 11 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.50 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 20% |
Related Party Transaction, Exchange Maintenance Margin | 9.60% |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | Teucrium Sugar Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.50 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 20% |
Related Party Transaction, Exchange Maintenance Margin | 9.60% |
Wilmington Trust Company [Member] | |
Related Party Transaction, Annual Fee | $ 3,300 |
Wilmington Trust Company [Member] | Teucrium Sugar Fund [Member] | |
Related Party Transaction, Annual Fee | 3,300 |
Thales Capital Partners LLC [Member] | Distribution and Solicitation-related Services [Member] | |
Related Party Transaction, Quarterly Fee Amount | $ 18,750 |
Related Party Transaction, Percentage of New Assets in Referred Accounts | 0.10% |
Thales Capital Partners LLC [Member] | Distribution and Solicitation-related Services [Member] | Teucrium Sugar Fund [Member] | |
Related Party Transaction, Quarterly Fee Amount | $ 18,750 |
Related Party Transaction, Percentage of New Assets in Referred Accounts | 0.10% |
Note 2 - Principal Contracts_22
Note 2 - Principal Contracts and Agreements - Summary of Expenses - Teucrium Sugar Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Amount Recognized | $ 2,721,842 | $ 2,321,539 | $ 2,279,672 |
Amount Waived | 518,599 | 1,052,715 | 775,432 |
Wilmington Trust Company [Member] | |||
Amount Recognized | 3,300 | 3,300 | 3,300 |
Amount Waived | 550 | 991 | 2,215 |
Thales Capital Partners LLC [Member] | |||
Amount Recognized | 278,958 | 297,222 | 116,901 |
Amount Waived | 106,944 | 153,198 | 57,988 |
Teucrium Sugar Fund [Member] | |||
Amount Recognized | 119,244 | 124,660 | 126,960 |
Amount Waived | 25,739 | 48,034 | 50,547 |
Teucrium Sugar Fund [Member] | Wilmington Trust Company [Member] | |||
Amount Recognized | 550 | 252 | 139 |
Amount Waived | 0 | 252 | 139 |
Teucrium Sugar Fund [Member] | Thales Capital Partners LLC [Member] | |||
Amount Recognized | 12,926 | 14,554 | 6,364 |
Amount Waived | 4,427 | 9,114 | 4,770 |
Custody Services [Member] | |||
Amount Recognized | 410,660 | 363,000 | 369,293 |
Amount Waived | 42,625 | 120,850 | 71,342 |
Custody Services [Member] | Teucrium Sugar Fund [Member] | |||
Amount Recognized | 15,692 | 18,782 | 22,168 |
Amount Waived | 1,068 | 9,186 | 10,306 |
Distribution Services [Member] | |||
Amount Recognized | 200,313 | 186,531 | 180,024 |
Amount Waived | 48,593 | 94,724 | 68,140 |
Distribution Services [Member] | Teucrium Sugar Fund [Member] | |||
Amount Recognized | 8,636 | 10,036 | 9,928 |
Amount Waived | $ 3,331 | $ 6,027 | $ 6,200 |
Note 3 - Summary of Signific_30
Note 3 - Summary of Significant Accounting Policies - Teucrium Sugar Fund (Details Textual) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | |
Open Tax Year | 2019 2020 2021 2022 | |||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | 0 | 0 | 0 |
Teucrium Sugar Fund [Member] | ||||
Open Tax Year | 2019 2020 2021 2022 | |||
Unrecognized Tax Benefits, Ending Balance | $ 0 | 0 | 0 | 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | $ 0 | $ 0 | $ 0 |
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | |||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 25,000 | |||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | |||
Minimum Number of RedemptionBaskets | 2 | |||
Teucrium Sugar Fund [Member] | Teucrium Trading, LLC [Member] | ||||
Management Fee, Percentage of Average Daily Net Assets | 1% |
Note 3 - Summary of Signific_31
Note 3 - Summary of Significant Accounting Policies - Total Brokerage Commissions Paid - Teucrium Sugar Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Brokerage Commissions | $ 667,746 | $ 240,134 | $ 240,922 |
Teucrium Sugar Fund [Member] | |||
Brokerage Commissions | $ 33,469 | $ 21,123 | $ 14,681 |
Note 3 - Summary of Signific_32
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents - Teucrium Sugar Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Money Market Funds | $ 188,640,417 | $ 32,968,833 | $ 61,121,678 |
Demand Deposit Savings Accounts | 46,061,819 | 99,262,744 | 95,809,411 |
Commercial Paper | 199,360,060 | 119,980,366 | 152,447,206 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | 434,062,296 | 252,211,943 | 309,378,295 |
Teucrium Sugar Fund [Member] | |||
Money Market Funds | 9,920,499 | 4,816,883 | 4,153,164 |
Demand Deposit Savings Accounts | 3,069,677 | 9,016,479 | 5,197,140 |
Commercial Paper | 9,987,304 | 7,499,540 | 2,499,028 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 22,977,480 | $ 21,332,902 | $ 11,849,332 |
Note 3 - Summary of Signific_33
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions - Teucrium Sugar Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Amount Recognized | $ 2,721,842 | $ 2,321,539 | $ 2,279,672 |
Amount Waived | 518,599 | 1,052,715 | 775,432 |
Teucrium Sugar Fund [Member] | |||
Amount Recognized | 119,244 | 124,660 | 126,960 |
Amount Waived | $ 25,739 | $ 48,034 | $ 50,547 |
Note 3 - Summary of Signific_34
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor - Teucrium Sugar Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expenses waived by the Sponsor | $ 1,277,037 | $ 2,183,856 | $ 1,580,551 |
Teucrium Sugar Fund [Member] | |||
Expenses waived by the Sponsor | $ 78,237 | $ 134,294 | $ 210,614 |
Note 4 - Fair Value Measurem_18
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Sugar Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Cash Equivalents | $ 388,000,477 | $ 152,949,199 |
Total | 396,207,858 | 166,364,500 |
Commodity and Cryptocurrency Futures Contracts | 29,433,069 | 735,475 |
Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 911,329 | 1,079,226 |
Commodity and Cryptocurrency Futures Contracts | 85,128 | 80,506 |
Teucrium Sugar Fund [Member] | ||
Cash Equivalents | 19,907,803 | 12,316,423 |
Total | 20,819,132 | 13,395,649 |
Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 911,329 | 1,079,226 |
Commodity and Cryptocurrency Futures Contracts | 85,128 | 80,506 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 388,000,477 | 152,949,199 |
Total | 396,207,858 | 166,364,500 |
Commodity and Cryptocurrency Futures Contracts | 29,433,069 | 735,475 |
Fair Value, Inputs, Level 1 [Member] | Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 911,329 | 1,079,226 |
Commodity and Cryptocurrency Futures Contracts | 85,128 | 80,506 |
Fair Value, Inputs, Level 1 [Member] | Teucrium Sugar Fund [Member] | ||
Cash Equivalents | 19,907,803 | 12,316,423 |
Total | 20,819,132 | 13,395,649 |
Fair Value, Inputs, Level 1 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 911,329 | 1,079,226 |
Commodity and Cryptocurrency Futures Contracts | 85,128 | 80,506 |
Fair Value, Inputs, Level 2 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Teucrium Sugar Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Teucrium Sugar Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | $ 0 | $ 0 |
Note 5 - Derivative Instrume_22
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Sugar Fund (Details Textual) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Derivative, Notional Amount | $ 653.8 | $ 321.8 | $ 224.9 |
Teucrium Sugar Fund [Member] | |||
Derivative, Notional Amount | $ 27.1 | $ 20.9 | $ 10.4 |
Note 5 - Derivative Instrume_23
Note 5 - Derivative Instruments and Hedging Activities - Offsetting of Financial Assets and Liabilities and Derivative Assets and Liabilities - Teucrium Sugar Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Derivative liabilities | $ 29,433,069 | $ 735,475 |
Sugar Futures Contracts [Member] | ||
Gross amount of recognized assets | 911,329 | 1,079,226 |
Gross amount offset, assets | 0 | 0 |
Derivative asset | 911,329 | 1,079,226 |
Available for offset, assets | 85,128 | 80,506 |
Collateral, due to broker, assets | 0 | 0 |
Net amount, assets | 826,201 | 998,720 |
Gross amount of recognized liabilities | 85,128 | 80,506 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 85,128 | 80,506 |
Futures contracts available for offset, liabilities | 85,128 | 80,506 |
Collateral, due from broker, liabilities | 0 | 0 |
Net amount, liabilities | 0 | 0 |
Sugar Futures Contracts [Member] | Teucrium Sugar Fund [Member] | ||
Gross amount of recognized assets | 911,329 | 1,079,226 |
Gross amount offset, assets | 0 | 0 |
Derivative asset | 911,329 | 1,079,226 |
Available for offset, assets | 85,128 | 80,506 |
Collateral, due to broker, assets | 0 | 0 |
Net amount, assets | 826,201 | 998,720 |
Gross amount of recognized liabilities | 85,128 | 80,506 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 85,128 | 80,506 |
Futures contracts available for offset, liabilities | 85,128 | 80,506 |
Collateral, due from broker, liabilities | 0 | 0 |
Net amount, liabilities | $ 0 | $ 0 |
Note 5 - Derivative Instrume_24
Note 5 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) on Derivative Instruments - Teucrium Sugar Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Realized Gain on Commodity Futures Contracts | $ (43,176,670) | $ 117,839,481 | $ 25,091,898 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (33,905,514) | (29,744,871) | 35,293,415 |
Teucrium Sugar Fund [Member] | |||
Realized Gain on Commodity Futures Contracts | (442,477) | 6,223,228 | (656,937) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (172,519) | (408,983) | 1,060,274 |
Sugar Futures Contracts [Member] | |||
Realized Gain on Commodity Futures Contracts | (442,477) | 6,223,228 | (656,937) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (172,519) | (408,983) | 1,060,274 |
Sugar Futures Contracts [Member] | Teucrium Sugar Fund [Member] | |||
Realized Gain on Commodity Futures Contracts | (442,477) | 6,223,228 | (656,937) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ (172,519) | $ (408,983) | $ 1,060,274 |
Note 6 - Financial Highlight_13
Note 6 - Financial Highlights - Schedule of Per Share Performance Data and Other Supplemental Financial Data - Teucrium Sugar Fund (Details) - Teucrium Sugar Fund [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net asset value per share at beginning of period (in dollars per share) | $ 9.23 | $ 6.72 | $ 7.04 |
Income (loss) from investment operations: | |||
Investment income (in dollars per share) | 0.15 | 0.01 | 0.04 |
Net realized and unrealized gain on commodity futures contracts (in dollars per share) | 0.31 | 2.65 | (0.20) |
Total expenses, net (in dollars per share) | (0.18) | (0.15) | (0.16) |
Net increase in net asset value (in dollars per share) | 0.28 | 2.51 | (0.32) |
Net asset value per share at end of period (in dollars per share) | $ 9.51 | $ 9.23 | $ 6.72 |
Total Return | 3.13% | 37.31% | (4.51%) |
Ratios to Average Net Assets (Annualized) | |||
Total expenses | 2.12% | 2.49% | 4.67% |
Total expenses, net | 1.84% | 1.84% | 2.64% |
Net investment loss | (0.21%) | (1.70%) | (1.98%) |
Schedule of Investments - Inv_4
Schedule of Investments - Investments - Teucrium Wheat Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Wheat Futures Contracts [Member] | CBOT Wheat Futures MAY22 [Member] | ||
Fair value | $ 1,809,796 | |
Percentage of net assets | 0.68% | |
Number of contracts | 687 | |
Notional amount, asset | $ 26,595,488 | |
Wheat Futures Contracts [Member] | CBOT Wheat Futures MAY22 [Member] | Teucrium Wheat Fund [Member] | ||
Fair value | $ 1,809,796 | |
Percentage of net assets | 2.39% | |
Number of contracts | 687 | |
Notional amount, asset | $ 26,595,488 | |
Wheat Futures Contracts [Member] | CBOT Wheat Futures DEC22 [Member] | ||
Fair value | $ 1,904,876 | |
Percentage of net assets | 0.72% | |
Number of contracts | 686 | |
Notional amount, asset | $ 26,411,000 | |
Wheat Futures Contracts [Member] | CBOT Wheat Futures DEC22 [Member] | Teucrium Wheat Fund [Member] | ||
Fair value | $ 1,904,876 | |
Percentage of net assets | 2.52% | |
Number of contracts | 686 | |
Notional amount, asset | $ 26,411,000 | |
Wheat Futures Contracts [Member] | CBOT Wheat Futures JUL23 [Member] | ||
Fair value | $ 3,160,732,000 | |
Percentage of net assets | 0.68% | |
Number of contracts | 1,711 | |
Notional amount, asset | $ 68,696,650,000 | |
Wheat Futures Contracts [Member] | CBOT Wheat Futures JUL23 [Member] | Teucrium Wheat Fund [Member] | ||
Fair value | $ 3,160,732 | |
Percentage of net assets | 1.38% | |
Number of contracts | 1,711 | |
Notional amount, asset | $ 68,696,650 | |
Wheat Futures Contracts [Member] | CBOT Wheat Futures JUL22 [Member] | Teucrium Wheat Fund [Member] | Liability [Member] | ||
Fair value | $ 654,969 | |
Percentage of net assets | 0.87% | |
Number of contracts | 593 | |
Notional amount, liability | $ 22,667,425 | |
Money Market Funds [Member] | ||
Cost | 188,640,417 | 32,968,833 |
Fair value | $ 188,640,417 | $ 32,968,833 |
Percentage of net assets | 40.54% | 12.48% |
Shares (in shares) | ||
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 4.105% | 0.026% |
Cost | $ 28,382,122 | $ 30,443,449 |
Fair value | $ 28,382,122 | $ 30,443,449 |
Percentage of net assets | 6.10% | 11.52% |
Shares (in shares) | 28,382,122 | 30,443,449 |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 4.14% | 0.03% |
Cost | $ 160,258,295 | $ 2,525,384 |
Fair value | $ 160,258,295 | $ 2,525,384 |
Percentage of net assets | 34.44% | 0.96% |
Shares (in shares) | 160,258,295 | 2,525,384 |
Money Market Funds [Member] | Teucrium Wheat Fund [Member] | ||
Cost | $ 99,826,276 | $ 5,284,993 |
Fair value | $ 99,826,276 | $ 5,284,993 |
Percentage of net assets | 43.60% | 6.99% |
Shares (in shares) | ||
Money Market Funds [Member] | Teucrium Wheat Fund [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 4.105% | 0.026% |
Cost | $ 8,255,546 | $ 5,281,765 |
Fair value | $ 8,255,546 | $ 5,281,765 |
Percentage of net assets | 3.61% | 6.99% |
Shares (in shares) | 8,255,546 | 5,281,765 |
Money Market Funds [Member] | Teucrium Wheat Fund [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 4.14% | 0.03% |
Cost | $ 91,570,730 | $ 3,228 |
Fair value | $ 91,570,730 | $ 3,228 |
Percentage of net assets | 39.99% | 0% |
Shares (in shares) | 91,570,730 | 3,228 |
Commercial Paper [Member] | ||
Cost | $ 198,351,250 | $ 119,951,019 |
Fair value | $ 199,360,060 | $ 119,980,366 |
Percentage of net assets | 42.84% | 45.38% |
Commercial Paper [Member] | American Electric Power Company, Inc. [Member] | ||
Index | 4.565% | |
Cost | $ 4,968,750 | |
Fair value | $ 4,990,000 | |
Percentage of net assets | 1.07% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 0.17% | |
Cost | $ 2,499,021 | |
Fair value | $ 2,499,717 | |
Percentage of net assets | 0.95% | |
Maturity date | Jan. 25, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Entergy Corporation [Member] | ||
Index | 4.311% | |
Cost | $ 9,926,808 | |
Fair value | $ 9,996,460 | |
Percentage of net assets | 2.15% | |
Maturity date | Jan. 04, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Jabil Inc. [Member] | ||
Index | 5.073% | |
Cost | $ 4,980,555 | |
Fair value | $ 4,991,667 | |
Percentage of net assets | 1.07% | |
Maturity date | Jan. 13, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Humana Inc. [Member] | ||
Index | 4.67% | 0.14% |
Cost | $ 7,448,250 | $ 4,998,425 |
Fair value | $ 7,492,333 | $ 4,999,883 |
Percentage of net assets | 1.61% | 1.89% |
Maturity date | Jan. 09, 2023 | Jan. 07, 2022 |
Principal amount | $ 7,500,000 | $ 5,000,000 |
Commercial Paper [Member] | Hyundai Capital America [Member] | ||
Index | 4% | |
Cost | $ 9,903,645 | |
Fair value | $ 9,990,145 | |
Percentage of net assets | 2.15% | |
Maturity date | Jan. 10, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | ITT Inc. [Member] | ||
Index | 4.475% | |
Cost | $ 4,965,088 | |
Fair value | $ 4,988,975 | |
Percentage of net assets | 1.07% | |
Maturity date | Jan. 19, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | VW Credit, Inc. [Member] | ||
Index | 4.434% | |
Cost | $ 7,448,106 | |
Fair value | $ 7,483,613 | |
Percentage of net assets | 1.61% | |
Maturity date | Jan. 19, 2023 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Teucrium Wheat Fund [Member] | ||
Cost | 97,073,593 | 37,483,793 |
Fair value | $ 97,594,565 | $ 37,492,592 |
Percentage of net assets | 42.62% | 49.58% |
Commercial Paper [Member] | Teucrium Wheat Fund [Member] | American Electric Power Company, Inc. [Member] | ||
Index | 4.565% | |
Cost | $ 4,968,750 | |
Fair value | $ 4,990,000 | |
Percentage of net assets | 2.18% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Teucrium Wheat Fund [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 4.742% | 0.17% |
Cost | $ 7,438,744 | $ 2,499,021 |
Fair value | $ 7,484,443 | $ 2,499,717 |
Percentage of net assets | 3.27% | 3.31% |
Maturity date | Jan. 17, 2023 | Jan. 25, 2022 |
Principal amount | $ 7,500,000 | $ 2,500,000 |
Commercial Paper [Member] | Teucrium Wheat Fund [Member] | Entergy Corporation [Member] | ||
Index | 4.311% | |
Cost | $ 2,481,702 | |
Fair value | $ 2,499,115 | |
Percentage of net assets | 1.09% | |
Maturity date | Jan. 04, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Wheat Fund [Member] | Humana Inc. [Member] | ||
Index | 4.67% | |
Cost | $ 4,965,500 | |
Fair value | $ 4,994,889 | |
Percentage of net assets | 2.18% | |
Maturity date | Jan. 09, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Teucrium Wheat Fund [Member] | Hyundai Capital America [Member] | ||
Index | 4% | |
Cost | $ 7,427,734 | |
Fair value | $ 7,492,609 | |
Percentage of net assets | 3.27% | |
Maturity date | Jan. 10, 2023 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Teucrium Wheat Fund [Member] | ITT Inc. [Member] | ||
Index | 4.475% | |
Cost | $ 2,482,544 | |
Fair value | $ 2,494,488 | |
Percentage of net assets | 1.09% | |
Maturity date | Jan. 19, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Wheat Fund [Member] | VW Credit, Inc. [Member] | ||
Index | 4.434% | |
Cost | $ 2,482,702 | |
Fair value | $ 2,494,538 | |
Percentage of net assets | 1.09% | |
Maturity date | Jan. 19, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Albemarle Corporation [Member] | ||
Index | 0.181% | |
Cost | $ 9,996,324 | |
Fair value | $ 9,998,489 | |
Percentage of net assets | 3.78% | |
Maturity date | Jan. 31, 2022 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 4.742% | |
Cost | $ 14,877,488 | |
Fair value | $ 14,968,886 | |
Percentage of net assets | 3.22% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 15,000,000 | |
Commercial Paper [Member] | Investment One [Member] | CNH Industrial Capital LLC [Member] | ||
Index | 4.566% | |
Cost | $ 9,935,000 | |
Fair value | $ 9,972,500 | |
Percentage of net assets | 2.14% | |
Maturity date | Jan. 23, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Conagra Brands, Inc. [Member] | ||
Index | 0.16% | |
Cost | $ 7,497,300 | |
Fair value | $ 7,499,867 | |
Percentage of net assets | 2.84% | |
Maturity date | Jan. 05, 2022 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Crown Castle Inc. [Member] | ||
Index | 4.877% | |
Cost | $ 7,443,000 | |
Fair value | $ 7,491,000 | |
Percentage of net assets | 1.61% | |
Maturity date | Jan. 10, 2023 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Investment One [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 4.276% | 0.16% |
Cost | $ 12,400,060 | $ 4,998,000 |
Fair value | $ 12,486,207 | $ 4,999,889 |
Percentage of net assets | 2.68% | 1.89% |
Maturity date | Jan. 10, 2023 | Jan. 06, 2022 |
Principal amount | $ 12,500,000 | $ 5,000,000 |
Commercial Paper [Member] | Investment One [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 4.721% | 0.167% |
Cost | $ 5,263,032 | $ 9,996,061 |
Fair value | $ 5,298,631 | $ 9,999,444 |
Percentage of net assets | 1.14% | 3.78% |
Maturity date | Jan. 03, 2023 | Jan. 13, 2022 |
Principal amount | $ 5,300,000 | $ 10,000,000 |
Commercial Paper [Member] | Investment One [Member] | Glencore Funding LLC [Member] | ||
Index | 4.506% | |
Cost | $ 9,934,607 | |
Fair value | $ 9,988,895 | |
Percentage of net assets | 2.15% | |
Maturity date | Jan. 10, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Jabil Inc. [Member] | ||
Index | 0.25% | |
Cost | $ 2,499,219 | |
Fair value | $ 2,499,670 | |
Percentage of net assets | 0.95% | |
Maturity date | Jan. 20, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Viatris Inc. [Member] | ||
Index | 0.25% | |
Cost | $ 4,997,466 | |
Fair value | $ 4,998,577 | |
Percentage of net assets | 1.89% | |
Maturity date | Feb. 11, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | WGL Holdings, Inc. [Member] | ||
Index | 0.22% | |
Cost | $ 4,998,686 | |
Fair value | $ 4,999,664 | |
Percentage of net assets | 1.89% | |
Maturity date | Jan. 12, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Oracle Corporation [Member] | ||
Index | 4.358% | |
Cost | $ 4,973,125 | |
Fair value | $ 4,997,611 | |
Percentage of net assets | 1.07% | |
Maturity date | Jan. 05, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | V.F. Corporation [Member] | ||
Index | 4.364% | |
Cost | $ 4,959,390 | |
Fair value | $ 4,990,444 | |
Percentage of net assets | 1.07% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 4.842% | |
Cost | $ 4,970,188 | |
Fair value | $ 4,971,512 | |
Percentage of net assets | 1.07% | |
Maturity date | Feb. 13, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Wheat Fund [Member] | Albemarle Corporation [Member] | ||
Index | 0.181% | |
Cost | $ 2,499,081 | |
Fair value | $ 2,499,622 | |
Percentage of net assets | 3.30% | |
Maturity date | Jan. 31, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Wheat Fund [Member] | CNH Industrial Capital LLC [Member] | ||
Index | 4.566% | |
Cost | $ 4,967,500 | |
Fair value | $ 4,986,250 | |
Percentage of net assets | 2.18% | |
Maturity date | Jan. 23, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Wheat Fund [Member] | Conagra Brands, Inc. [Member] | ||
Index | 0.16% | |
Cost | $ 2,499,300 | |
Fair value | $ 2,499,956 | |
Percentage of net assets | 3.31% | |
Maturity date | Jan. 05, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Wheat Fund [Member] | Crown Castle Inc. [Member] | ||
Index | 4.877% | |
Cost | $ 2,481,000 | |
Fair value | $ 2,497,000 | |
Percentage of net assets | 1.09% | |
Maturity date | Jan. 10, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Wheat Fund [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 4.276% | 0.16% |
Cost | $ 2,475,149 | $ 2,499,000 |
Fair value | $ 2,497,369 | $ 2,499,945 |
Percentage of net assets | 1.09% | 3.31% |
Maturity date | Jan. 10, 2023 | Jan. 06, 2022 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Commercial Paper [Member] | Investment One [Member] | Teucrium Wheat Fund [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 4.721% | 0.167% |
Cost | $ 2,780,470 | $ 2,499,015 |
Fair value | $ 2,799,277 | $ 2,499,861 |
Percentage of net assets | 1.22% | 3.31% |
Maturity date | Jan. 03, 2023 | Jan. 13, 2022 |
Principal amount | $ 2,800,000 | $ 2,500,000 |
Commercial Paper [Member] | Investment One [Member] | Teucrium Wheat Fund [Member] | Glencore Funding LLC [Member] | ||
Index | 4.506% | |
Cost | $ 9,934,607 | |
Fair value | $ 9,988,895 | |
Percentage of net assets | 4.36% | |
Maturity date | Jan. 10, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Wheat Fund [Member] | Jabil Inc. [Member] | ||
Index | 0.30% | |
Cost | $ 2,498,688 | |
Fair value | $ 2,499,208 | |
Percentage of net assets | 3.30% | |
Maturity date | Feb. 08, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Wheat Fund [Member] | Viatris Inc. [Member] | ||
Index | 0.30% | |
Cost | $ 2,498,313 | |
Fair value | $ 2,499,146 | |
Percentage of net assets | 3.30% | |
Maturity date | Feb. 11, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Wheat Fund [Member] | WGL Holdings, Inc. [Member] | ||
Index | 0.22% | |
Cost | $ 2,499,343 | |
Fair value | $ 2,499,832 | |
Percentage of net assets | 3.31% | |
Maturity date | Jan. 12, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Wheat Fund [Member] | Oracle Corporation [Member] | ||
Index | 4.358% | |
Cost | $ 4,973,125 | |
Fair value | $ 4,997,611 | |
Percentage of net assets | 2.18% | |
Maturity date | Jan. 05, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Wheat Fund [Member] | V.F. Corporation [Member] | ||
Index | 4.364% | |
Cost | $ 2,479,695 | |
Fair value | $ 2,495,222 | |
Percentage of net assets | 1.09% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment One [Member] | Teucrium Wheat Fund [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 4.842% | |
Cost | $ 2,485,094 | |
Fair value | $ 2,485,756 | |
Percentage of net assets | 1.09% | |
Maturity date | Feb. 13, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Albemarle Corporation [Member] | ||
Index | 0.20% | |
Cost | $ 4,998,834 | |
Fair value | $ 4,999,722 | |
Percentage of net assets | 1.89% | |
Maturity date | Jan. 11, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 4.734% | |
Cost | $ 4,959,225 | |
Fair value | $ 4,989,644 | |
Percentage of net assets | 1.07% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | CNH Industrial Capital LLC [Member] | ||
Index | 4.78% | |
Cost | $ 9,899,472 | |
Fair value | $ 9,943,862 | |
Percentage of net assets | 2.14% | |
Maturity date | Feb. 13, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Conagra Brands, Inc. [Member] | ||
Index | 0.15% | |
Cost | $ 4,998,710 | |
Fair value | $ 4,999,646 | |
Percentage of net assets | 1.89% | |
Maturity date | Jan. 18, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Crown Castle Inc. [Member] | ||
Index | 4.765% | |
Cost | $ 12,449,410 | |
Fair value | $ 12,482,050 | |
Percentage of net assets | 2.68% | |
Maturity date | Jan. 12, 2023 | |
Principal amount | $ 12,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 4.473% | 0.20% |
Cost | $ 7,418,417 | $ 9,995,111 |
Fair value | $ 7,484,417 | $ 9,998,333 |
Percentage of net assets | 1.61% | 3.78% |
Maturity date | Jan. 18, 2023 | Jan. 31, 2022 |
Principal amount | $ 7,500,000 | $ 10,000,000 |
Commercial Paper [Member] | Investment Two [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 4.944% | 0.17% |
Cost | $ 7,458,402 | $ 4,997,876 |
Fair value | $ 7,475,650 | $ 4,999,268 |
Percentage of net assets | 1.61% | 1.89% |
Maturity date | Jan. 25, 2023 | Feb. 01, 2022 |
Principal amount | $ 7,500,000 | $ 5,000,000 |
Commercial Paper [Member] | Investment Two [Member] | Glencore Funding LLC [Member] | ||
Index | 4.526% | |
Cost | $ 5,461,843 | |
Fair value | $ 5,491,823 | |
Percentage of net assets | 1.18% | |
Maturity date | Jan. 13, 2023 | |
Principal amount | $ 5,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Jabil Inc. [Member] | ||
Index | 0.30% | |
Cost | $ 7,496,063 | |
Fair value | $ 7,497,625 | |
Percentage of net assets | 2.84% | |
Maturity date | Feb. 08, 2022 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Viatris Inc. [Member] | ||
Index | 0.30% | |
Cost | $ 4,996,625 | |
Fair value | $ 4,998,292 | |
Percentage of net assets | 1.89% | |
Maturity date | Feb. 11, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | WGL Holdings, Inc. [Member] | ||
Index | 0.187% | |
Cost | $ 4,998,700 | |
Fair value | $ 4,999,870 | |
Percentage of net assets | 1.89% | |
Maturity date | Jan. 06, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Oracle Corporation [Member] | ||
Index | 4.361% | |
Cost | $ 9,931,919 | |
Fair value | $ 9,980,889 | |
Percentage of net assets | 2.14% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | V.F. Corporation [Member] | ||
Index | 4.669% | |
Cost | $ 6,456,811 | |
Fair value | $ 6,473,422 | |
Percentage of net assets | 1.39% | |
Maturity date | Feb. 02, 2023 | |
Principal amount | $ 6,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 4.827% | |
Cost | $ 4,959,098 | |
Fair value | $ 4,961,736 | |
Percentage of net assets | 1.07% | |
Maturity date | Feb. 28, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Wheat Fund [Member] | Albemarle Corporation [Member] | ||
Index | 0.20% | |
Cost | $ 2,499,417 | |
Fair value | $ 2,499,861 | |
Percentage of net assets | 3.31% | |
Maturity date | Jan. 11, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Wheat Fund [Member] | CNH Industrial Capital LLC [Member] | ||
Index | 4.78% | |
Cost | $ 4,949,736 | |
Fair value | $ 4,971,931 | |
Percentage of net assets | 2.17% | |
Maturity date | Feb. 13, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Wheat Fund [Member] | Crown Castle Inc. [Member] | ||
Index | 4.765% | |
Cost | $ 4,979,764 | |
Fair value | $ 4,992,820 | |
Percentage of net assets | 2.18% | |
Maturity date | Jan. 12, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Wheat Fund [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 4.473% | 0.20% |
Cost | $ 4,945,611 | $ 2,498,778 |
Fair value | $ 4,989,611 | $ 2,499,583 |
Percentage of net assets | 2.18% | 3.30% |
Maturity date | Jan. 18, 2023 | Jan. 31, 2022 |
Principal amount | $ 5,000,000 | $ 2,500,000 |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Wheat Fund [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.104% | 0.17% |
Cost | $ 2,479,780 | $ 2,498,938 |
Fair value | $ 2,488,844 | $ 2,499,634 |
Percentage of net assets | 1.09% | 3.31% |
Maturity date | Feb. 02, 2023 | Feb. 01, 2022 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Wheat Fund [Member] | Glencore Funding LLC [Member] | ||
Index | 4.526% | |
Cost | $ 2,979,187 | |
Fair value | $ 2,995,540 | |
Percentage of net assets | 1.31% | |
Maturity date | Jan. 13, 2023 | |
Principal amount | $ 3,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Wheat Fund [Member] | Jabil Inc. [Member] | ||
Index | 0.31% | |
Cost | $ 2,498,450 | |
Fair value | $ 2,498,816 | |
Percentage of net assets | 3.30% | |
Maturity date | Feb. 25, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Wheat Fund [Member] | Viatris Inc. [Member] | ||
Index | 0.20% | |
Cost | $ 2,499,292 | |
Fair value | $ 2,499,722 | |
Percentage of net assets | 3.31% | |
Maturity date | Jan. 21, 2011 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Wheat Fund [Member] | Oracle Corporation [Member] | ||
Index | 4.361% | |
Cost | $ 7,448,939 | |
Fair value | $ 7,485,667 | |
Percentage of net assets | 3.27% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Wheat Fund [Member] | V.F. Corporation [Member] | ||
Index | 4.669% | |
Cost | $ 1,986,711 | |
Fair value | $ 1,991,822 | |
Percentage of net assets | 0.87% | |
Maturity date | Feb. 02, 2023 | |
Principal amount | $ 2,000,000 | |
Commercial Paper [Member] | Investment Two [Member] | Teucrium Wheat Fund [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 4.827% | |
Cost | $ 2,479,549 | |
Fair value | $ 2,480,868 | |
Percentage of net assets | 1.08% | |
Maturity date | Feb. 28, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Three [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 0.16% | |
Cost | $ 4,998,800 | |
Fair value | $ 4,999,956 | |
Percentage of net assets | 1.89% | |
Maturity date | Jan. 03, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Three [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.104% | 0.25% |
Cost | $ 4,959,561 | $ 4,997,328 |
Fair value | $ 4,977,688 | $ 4,997,918 |
Percentage of net assets | 1.07% | 1.89% |
Maturity date | Feb. 02, 2023 | Mar. 02, 2022 |
Principal amount | $ 5,000,000 | $ 5,000,000 |
Commercial Paper [Member] | Investment Three [Member] | Jabil Inc. [Member] | ||
Index | 0.31% | |
Cost | $ 4,996,900 | |
Fair value | $ 4,997,632 | |
Percentage of net assets | 1.89% | |
Maturity date | Feb. 25, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Three [Member] | Viatris Inc. [Member] | ||
Index | 0.31% | |
Cost | $ 4,996,986 | |
Fair value | $ 4,997,460 | |
Percentage of net assets | 1.89% | |
Maturity date | Mar. 01, 2022 | |
Principal amount | $ 5,000,000 | |
Commercial Paper [Member] | Investment Three [Member] | Teucrium Wheat Fund [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 0.25% | |
Cost | $ 2,498,664 | |
Fair value | $ 2,498,959 | |
Percentage of net assets | 3.30% | |
Maturity date | Mar. 02, 2022 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Investment Three [Member] | Teucrium Wheat Fund [Member] | Viatris Inc. [Member] | ||
Index | 0.31% | |
Cost | $ 2,498,493 | |
Fair value | $ 2,498,730 | |
Percentage of net assets | 3.30% | |
Maturity date | Mar. 01, 2022 | |
Principal amount | $ 2,500,000 | |
Commodity Futures Contracts [Member] | ||
Fair value | $ 13,415,301 | |
Percentage of net assets | 5.07% | |
Notional amount, asset | $ 234,855,437 | |
Commodity Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 735,475 | |
Percentage of net assets | 0.28% | |
Notional amount, liability | $ 29,484,966 | |
Commodity Futures Contracts [Member] | Teucrium Wheat Fund [Member] | ||
Fair value | $ 3,714,672 | |
Percentage of net assets | 4.91% | |
Notional amount, asset | $ 53,006,488 | |
Commodity Futures Contracts [Member] | Teucrium Wheat Fund [Member] | Liability [Member] | ||
Fair value | $ 26,380,838 | |
Percentage of net assets | 11.52% | |
Notional amount, liability | $ 160,295,138 | |
Commodity Futures Contracts [Member] | CBOT Wheat Futures MAY23 [Member] | Liability [Member] | ||
Fair value | $ 7,079,231 | |
Percentage of net assets | 1.52% | |
Number of contracts | 2,005 | |
Notional amount, liability | $ 80,074,688 | |
Commodity Futures Contracts [Member] | CBOT Wheat Futures MAY23 [Member] | Teucrium Wheat Fund [Member] | Liability [Member] | ||
Fair value | $ 7,079,231 | |
Percentage of net assets | 3.09% | |
Number of contracts | 2,005 | |
Notional amount, liability | $ 80,074,688 | |
Commodity Futures Contracts [Member] | CBOT Wheat Futures JUL22 [Member] | Liability [Member] | ||
Fair value | $ 654,969 | |
Percentage of net assets | 0.25% | |
Number of contracts | 593 | |
Notional amount, liability | $ 22,667,425 | |
Commodity Futures Contracts [Member] | CBOT Wheat Futures DEC23 [Member] | Liability [Member] | ||
Fair value | $ 19,301,607 | |
Percentage of net assets | 4.15% | |
Number of contracts | 1,956 | |
Notional amount, liability | $ 80,220,450 | |
Commodity Futures Contracts [Member] | CBOT Wheat Futures DEC23 [Member] | Teucrium Wheat Fund [Member] | Liability [Member] | ||
Fair value | $ 19,301,607 | |
Percentage of net assets | 8.43% | |
Number of contracts | 1,956 | |
Notional amount, liability | $ 80,220,450 | |
Cash and Cash Equivalents [Member] | ||
Fair value | $ 388,000,477 | $ 152,949,199 |
Percentage of net assets | 83.37% | 57.86% |
Cash and Cash Equivalents [Member] | Teucrium Wheat Fund [Member] | ||
Fair value | $ 197,420,841 | $ 42,777,585 |
Percentage of net assets | 86.22% | 56.57% |
Note 1 - Organization and Op_21
Note 1 - Organization and Operation - Teucrium Wheat Fund (Details Textual) | 12 Months Ended | ||||||
Sep. 19, 2011 USD ($) $ / shares shares | Sep. 16, 2011 USD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) shares | Jun. 13, 2011 shares | Dec. 31, 2010 shares | |
Stock Issued During Period, Value, New Issues | $ | $ 1,251,138,564 | $ 176,346,175 | $ 305,719,849 | ||||
Teucrium Wheat Fund [Member] | |||||||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | 25,000 | ||||||
Common Stock, Shares Authorized (in shares) | 33,600,000 | 10,000,000 | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 100,000 | 100,000 | 85,350,000 | 4,050,000 | 5,350,000 | ||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 2,500,000 | $ 896,636,750 | $ 26,494,978 | $ 29,814,205 | ||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 25 | ||||||
Shares, Outstanding, Ending Balance (in shares) | 4 | ||||||
Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | |||||||
Derivative, Number of Instruments Held, Total | 3 |
Note 1 - Organization and Op_22
Note 1 - Organization and Operation - Benchmark - Teucrium Corn Fund - Teucrium Wheat Fund (Details) - Teucrium Wheat Fund [Member] | Dec. 31, 2022 |
Second to Expire [Member] | |
Weighting | 35% |
Third to Expire [Member] | |
Weighting | 30% |
December Following the Third to Expire [Member] | |
Weighting | 35% |
Note 2 - Principal Contracts_23
Note 2 - Principal Contracts and Agreements - Teucrium Wheat Fund (Details Textual) | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
U.S. Bank N.A. [Member] | Custody Services [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, Up to One Billion | 0.0075% |
Related Party Transaction, Percentage of Average Gross Assets, Over One Billion | 0.005% |
U.S. Bank N.A. [Member] | Custody Services [Member] | Teucrium Wheat Fund [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, Up to One Billion | 0.0075% |
Related Party Transaction, Percentage of Average Gross Assets, Over One Billion | 0.005% |
Global Fund Services [Member] | Transfer Agency, Fund Accounting and Fund Administration Services [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, First 500 Million | 0.05% |
Related Party Transaction, Percentage of Average Gross Assets, Second 500 Million | 0.04% |
Related Party Transaction, Percentage of Average Gross Assets, Next Two Billion | 0.03% |
Related Party Transaction, Percentage of Average Gross Assets, Over Three Billion | 0.02% |
Global Fund Services [Member] | Transfer Agency, Fund Accounting and Fund Administration Services [Member] | Teucrium Wheat Fund [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, First 500 Million | 0.05% |
Related Party Transaction, Percentage of Average Gross Assets, Second 500 Million | 0.04% |
Related Party Transaction, Percentage of Average Gross Assets, Next Two Billion | 0.03% |
Related Party Transaction, Percentage of Average Gross Assets, Over Three Billion | 0.02% |
U.S. Bank N.A. and Global Fund Services [Member] | Custody, Transfer Agency, Fund Accounting and Fund Administration Services [Member] | |
Related Party Transaction, Minimum Annual Fee Per Fund | $ 47,000 |
U.S. Bank N.A. and Global Fund Services [Member] | Custody, Transfer Agency, Fund Accounting and Fund Administration Services [Member] | Teucrium Wheat Fund [Member] | |
Related Party Transaction, Minimum Annual Fee Per Fund | $ 47,000 |
Foreside Fund Services, LLC [Member] | Distribution Services Agreement [Member] | |
Related Party Transaction, Percentage of Average Daily Net Assets | 0.01% |
Related Party Transaction, Aggregate Annual Fee for all Funds | $ 100,000 |
Foreside Fund Services, LLC [Member] | Distribution Services Agreement [Member] | Teucrium Wheat Fund [Member] | |
Related Party Transaction, Percentage of Average Daily Net Assets | 0.01% |
Related Party Transaction, Aggregate Annual Fee for all Funds | $ 100,000 |
Foreside Fund Services, LLC [Member] | Securities Activities and Service Agreement (SASA) [Member] | |
Related Party Transaction, Fee Per Registered Representative | 5,000 |
Related Party Transaction, Fee Per Registered Location | 1,000 |
Foreside Fund Services, LLC [Member] | Securities Activities and Service Agreement (SASA) [Member] | Teucrium Wheat Fund [Member] | |
Related Party Transaction, Fee Per Registered Representative | 5,000 |
Related Party Transaction, Fee Per Registered Location | 1,000 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | 11 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | Teucrium Wheat Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | 11 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.50 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 20% |
Related Party Transaction, Exchange Maintenance Margin | 9.60% |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | Teucrium Wheat Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.50 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 20% |
Related Party Transaction, Exchange Maintenance Margin | 9.60% |
Wilmington Trust Company [Member] | |
Related Party Transaction, Annual Fee | $ 3,300 |
Wilmington Trust Company [Member] | Teucrium Wheat Fund [Member] | |
Related Party Transaction, Annual Fee | 3,300 |
Thales Capital Partners LLC [Member] | Distribution and Solicitation-related Services [Member] | |
Related Party Transaction, Quarterly Fee Amount | $ 18,750 |
Related Party Transaction, Percentage of New Assets in Referred Accounts | 0.10% |
Thales Capital Partners LLC [Member] | Distribution and Solicitation-related Services [Member] | Teucrium Wheat Fund [Member] | |
Related Party Transaction, Quarterly Fee Amount | $ 18,750 |
Related Party Transaction, Percentage of New Assets in Referred Accounts | 0.10% |
Note 2 - Principal Contracts_24
Note 2 - Principal Contracts and Agreements - Summary of Expenses - Teucrium Wheat Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Amount Recognized | $ 2,721,842 | $ 2,321,539 | $ 2,279,672 |
Amount Waived | 518,599 | 1,052,715 | 775,432 |
Wilmington Trust Company [Member] | |||
Amount Recognized | 3,300 | 3,300 | 3,300 |
Amount Waived | 550 | 991 | 2,215 |
Thales Capital Partners LLC [Member] | |||
Amount Recognized | 278,958 | 297,222 | 116,901 |
Amount Waived | 106,944 | 153,198 | 57,988 |
Teucrium Wheat Fund [Member] | |||
Amount Recognized | 1,388,272 | 478,989 | 503,823 |
Amount Waived | 224,587 | 134,898 | 27,789 |
Teucrium Wheat Fund [Member] | Wilmington Trust Company [Member] | |||
Amount Recognized | 550 | 789 | 565 |
Amount Waived | 0 | 0 | 565 |
Teucrium Wheat Fund [Member] | Thales Capital Partners LLC [Member] | |||
Amount Recognized | 135,043 | 59,673 | 24,841 |
Amount Waived | 66,481 | 26,449 | 8,462 |
Custody Services [Member] | |||
Amount Recognized | 410,660 | 363,000 | 369,293 |
Amount Waived | 42,625 | 120,850 | 71,342 |
Custody Services [Member] | Teucrium Wheat Fund [Member] | |||
Amount Recognized | 228,096 | 74,742 | 84,306 |
Amount Waived | 14,164 | 14,267 | 5,939 |
Distribution Services [Member] | |||
Amount Recognized | 200,313 | 186,531 | 180,024 |
Amount Waived | 48,593 | 94,724 | 68,140 |
Distribution Services [Member] | Teucrium Wheat Fund [Member] | |||
Amount Recognized | 102,332 | 38,391 | 39,577 |
Amount Waived | $ 14,931 | $ 20,120 | $ 9,177 |
Note 3 - Summary of Signific_35
Note 3 - Summary of Significant Accounting Policies - Teucrium Wheat Fund (Details Textual) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | |
Open Tax Year | 2019 2020 2021 2022 | |||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | 0 | 0 | 0 |
Teucrium Wheat Fund [Member] | ||||
Open Tax Year | 2019 2020 2021 2022 | |||
Unrecognized Tax Benefits, Ending Balance | $ 0 | 0 | 0 | 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | $ 0 | $ 0 | $ 0 |
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | |||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 25,000 | |||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | |||
Minimum Number of RedemptionBaskets | 2 | |||
Teucrium Wheat Fund [Member] | Teucrium Trading, LLC [Member] | ||||
Management Fee, Percentage of Average Daily Net Assets | 1% |
Note 3 - Summary of Signific_36
Note 3 - Summary of Significant Accounting Policies - Total Brokerage Commissions Paid - Teucrium Wheat Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Brokerage Commissions | $ 667,746 | $ 240,134 | $ 240,922 |
Teucrium Wheat Fund [Member] | |||
Brokerage Commissions | $ 387,999 | $ 47,448 | $ 40,741 |
Note 3 - Summary of Signific_37
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents - Teucrium Wheat Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Money Market Funds | $ 188,640,417 | $ 32,968,833 | $ 61,121,678 |
Demand Deposit Savings Accounts | 46,061,819 | 99,262,744 | 95,809,411 |
Commercial Paper | 199,360,060 | 119,980,366 | 152,447,206 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | 434,062,296 | 252,211,943 | 309,378,295 |
Teucrium Wheat Fund [Member] | |||
Money Market Funds | 99,826,276 | 5,284,993 | 16,227,402 |
Demand Deposit Savings Accounts | 12,309,984 | 30,064,031 | 17,730,566 |
Commercial Paper | 97,594,565 | 37,492,592 | 34,988,757 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 209,730,825 | $ 72,841,616 | $ 68,946,725 |
Note 3 - Summary of Signific_38
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions - Teucrium Wheat Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Amount Recognized | $ 2,721,842 | $ 2,321,539 | $ 2,279,672 |
Amount Waived | 518,599 | 1,052,715 | 775,432 |
Teucrium Wheat Fund [Member] | |||
Amount Recognized | 1,388,272 | 478,989 | 503,823 |
Amount Waived | $ 224,587 | $ 134,898 | $ 27,789 |
Note 3 - Summary of Signific_39
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor - Teucrium Wheat Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expenses waived by the Sponsor | $ 1,277,037 | $ 2,183,856 | $ 1,580,551 |
Teucrium Wheat Fund [Member] | |||
Expenses waived by the Sponsor | $ 425,164 | $ 307,565 | $ 81,190 |
Note 4 - Fair Value Measurem_19
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Wheat Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Cash Equivalents | $ 388,000,477 | $ 152,949,199 |
Total | 396,207,858 | 166,364,500 |
Commodity and Cryptocurrency Futures Contracts | 29,433,069 | 735,475 |
Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 3,160,732 | 3,714,672 |
Commodity and Cryptocurrency Futures Contracts | 26,380,838 | 654,969 |
Teucrium Wheat Fund [Member] | ||
Cash Equivalents | 197,420,841 | 42,777,585 |
Total | 200,581,573 | 46,492,257 |
Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 3,160,732 | 3,714,672 |
Commodity and Cryptocurrency Futures Contracts | 26,380,838 | 654,969 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 388,000,477 | 152,949,199 |
Total | 396,207,858 | 166,364,500 |
Commodity and Cryptocurrency Futures Contracts | 29,433,069 | 735,475 |
Fair Value, Inputs, Level 1 [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 3,160,732 | 3,714,672 |
Commodity and Cryptocurrency Futures Contracts | 26,380,838 | 654,969 |
Fair Value, Inputs, Level 1 [Member] | Teucrium Wheat Fund [Member] | ||
Cash Equivalents | 197,420,841 | 42,777,585 |
Total | 200,581,573 | 46,492,257 |
Fair Value, Inputs, Level 1 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 3,160,732 | 3,714,672 |
Commodity and Cryptocurrency Futures Contracts | 26,380,838 | 654,969 |
Fair Value, Inputs, Level 2 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Teucrium Wheat Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Teucrium Wheat Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | $ 0 | $ 0 |
Note 5 - Derivative Instrume_25
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Wheat Fund (Details Textual) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Derivative, Notional Amount | $ 653.8 | $ 321.8 | $ 224.9 |
Teucrium Wheat Fund [Member] | |||
Derivative, Notional Amount | $ 345.8 | $ 80.9 | $ 56.6 |
Note 5 - Derivative Instrume_26
Note 5 - Derivative Instruments and Hedging Activities - Offsetting of Financial Assets and Liabilities and Derivative Assets and Liabilities - Teucrium Wheat Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Derivative liabilities | $ 29,433,069 | $ 735,475 |
Wheat Futures Contracts [Member] | ||
Gross amount of recognized assets | 3,160,732 | 3,714,672 |
Gross amount offset, assets | 0 | 0 |
Derivative asset | 3,160,732 | 3,714,672 |
Available for offset, assets | 3,160,732 | 654,969 |
Collateral, due to broker, assets | 0 | 213,708 |
Net amount, assets | 0 | 2,845,995 |
Gross amount of recognized liabilities | 26,380,838 | 654,969 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 26,380,838 | 654,969 |
Futures contracts available for offset, liabilities | 3,160,732 | 654,969 |
Collateral, due from broker, liabilities | 23,220,106 | 0 |
Net amount, liabilities | 0 | 0 |
Wheat Futures Contracts [Member] | Teucrium Wheat Fund [Member] | ||
Gross amount of recognized assets | 3,160,732 | 3,714,672 |
Gross amount offset, assets | 0 | 0 |
Derivative asset | 3,160,732 | 3,714,672 |
Available for offset, assets | 3,160,732 | 654,969 |
Collateral, due to broker, assets | 0 | 213,708 |
Net amount, assets | 0 | 2,845,995 |
Gross amount of recognized liabilities | 26,380,838 | 654,969 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 26,380,838 | 654,969 |
Futures contracts available for offset, liabilities | 3,160,732 | 654,969 |
Collateral, due from broker, liabilities | 23,220,106 | 0 |
Net amount, liabilities | $ 0 | $ 0 |
Note 5 - Derivative Instrume_27
Note 5 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) on Derivative Instruments - Teucrium Wheat Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Realized Gain on Commodity Futures Contracts | $ (43,176,670) | $ 117,839,481 | $ 25,091,898 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (33,905,514) | (29,744,871) | 35,293,415 |
Teucrium Wheat Fund [Member] | |||
Realized Gain on Commodity Futures Contracts | (81,457,408) | 18,418,461 | 5,461,905 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (26,279,809) | (2,678,459) | 669,686 |
Wheat Futures Contracts [Member] | |||
Realized Gain on Commodity Futures Contracts | (81,457,408) | 18,418,461 | 5,461,905 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (26,279,809) | (2,678,459) | 669,686 |
Wheat Futures Contracts [Member] | Teucrium Wheat Fund [Member] | |||
Realized Gain on Commodity Futures Contracts | (81,457,408) | 18,418,461 | 5,461,905 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ (26,279,809) | $ (2,678,459) | $ 669,686 |
Note 6 - Financial Highlight_14
Note 6 - Financial Highlights - Schedule of Per Share Performance Data and Other Supplemental Financial Data - Teucrium Wheat Fund (Details) - Teucrium Wheat Fund [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net asset value per share at beginning of period (in dollars per share) | $ 7.38 | $ 6.16 | $ 5.84 |
Income (loss) from investment operations: | |||
Investment income (in dollars per share) | 0.15 | 0.01 | 0.04 |
Net realized and unrealized gain on commodity futures contracts (in dollars per share) | 0.63 | 1.34 | 0.44 |
Total expenses, net (in dollars per share) | (0.17) | (0.13) | (0.16) |
Net increase in net asset value (in dollars per share) | 0.61 | 1.22 | 0.32 |
Net asset value per share at end of period (in dollars per share) | $ 7.99 | $ 7.38 | $ 6.16 |
Total Return | 8.23% | 19.84% | 5.48% |
Ratios to Average Net Assets (Annualized) | |||
Total expenses | 1.90% | 2.27% | 2.98% |
Total expenses, net | 1.78% | 1.89% | 2.84% |
Net investment loss | (0.20%) | (1.73%) | (2.09%) |
Note 8 - Subsequent Events - _6
Note 8 - Subsequent Events - Teucrium Wheat Fund (Details Textual) - USD ($) | 2 Months Ended | 12 Months Ended | ||
Feb. 28, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Investment Company, Net Assets, Period Increase (Decrease), Total | $ 201,098,830 | $ (45,836,426) | $ 142,206,597 | |
Teucrium Wheat Fund [Member] | ||||
Investment Company, Net Assets, Period Increase (Decrease), Total | $ 153,350,452 | $ 5,745,009 | $ 17,640,382 | |
Teucrium Wheat Fund [Member] | Subsequent Event [Member] | ||||
Investment Company, Net Assets, Period Increase (Decrease), Total | $ (46,724,300) | |||
Investment Company, Net Assets, Period Increase (Decrease), Percentage | (20.00%) | |||
Investment Company, Net Assets, Period Increase (Decrease), Percentage, Shares Outstanding | (11.00%) | |||
Investment Company, Net Asset Value Per Share, Period Increase (Decrease), Percentage | (11.00%) |
Schedule of Investments - Inv_5
Schedule of Investments - Investments - Teucrium Agricultural Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 | |
Teucrium Agricultural Fund [Member] | |||
Fair value | $ 39,572,698 | $ 14,178,019 | |
Cost | 39,425,287 | 1,586,899 | |
Exchange Traded Funds [Member] | |||
Fair value | [1] | $ 39,572,698 | $ 14,178,019 |
Percentage of net assets | [1] | 8.49% | 5.37% |
Shares (in shares) | [1] | ||
Cost | [1] | $ 39,425,287 | $ 12,799,498 |
Exchange Traded Funds [Member] | Teucrium Corn Fund [Member] | |||
Fair value | $ 9,885,980 | $ 3,537,560 | |
Percentage of net assets | 24.97% | 24.95% | |
Shares (in shares) | 367,555 | 163,930 | |
Exchange Traded Funds [Member] | Teucrium Soybean Fund [Member] | |||
Fair value | $ 9,921,042 | $ 3,538,006 | |
Percentage of net assets | 25.07% | 24.96% | |
Shares (in shares) | 348,075 | 155,374 | |
Exchange Traded Funds [Member] | Teucrium Sugar Fund [Member] | |||
Fair value | $ 9,745,653 | $ 3,591,878 | |
Percentage of net assets | 24.63% | 25.33% | |
Shares (in shares) | 1,024,284 | 389,317 | |
Exchange Traded Funds [Member] | Teucrium Wheat Fund [Member] | |||
Fair value | $ 10,020,023 | $ 3,510,575 | |
Percentage of net assets | 25.32% | 24.76% | |
Shares (in shares) | 1,254,840 | 475,836 | |
Exchange Traded Funds [Member] | Teucrium Agricultural Fund [Member] | |||
Fair value | $ 39,572,698 | $ 14,178,019 | |
Percentage of net assets | 99.99% | 100% | |
Cost | $ 39,425,287 | $ 12,799,498 | |
Money Market Funds [Member] | |||
Fair value | $ 188,640,417 | $ 32,968,833 | |
Percentage of net assets | 40.54% | 12.48% | |
Shares (in shares) | |||
Cost | $ 188,640,417 | $ 32,968,833 | |
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | |||
Fair value | $ 28,382,122 | $ 30,443,449 | |
Percentage of net assets | 6.10% | 11.52% | |
Shares (in shares) | 28,382,122 | 30,443,449 | |
Cost | $ 28,382,122 | $ 30,443,449 | |
Index | 4.105% | 0.026% | |
Money Market Funds [Member] | Teucrium Corn Fund [Member] | |||
Fair value | $ 52,555,915 | $ 11,399,662 | |
Percentage of net assets | 34.43% | 9.43% | |
Shares (in shares) | |||
Cost | $ 52,555,915 | $ 11,399,662 | |
Money Market Funds [Member] | Teucrium Corn Fund [Member] | First American Government Obligations Fund - Class X [Member] | |||
Fair value | $ 3,498,444 | $ 11,397,154 | |
Percentage of net assets | 2.29% | 9.43% | |
Shares (in shares) | 3,498,444 | 11,397,154 | |
Cost | $ 3,498,444 | $ 11,397,154 | |
Index | 4.105% | 0.26% | |
Money Market Funds [Member] | Teucrium Soybean Fund [Member] | |||
Fair value | $ 25,631,042 | $ 11,462,494 | |
Percentage of net assets | 43.87% | 25.49% | |
Shares (in shares) | |||
Cost | $ 25,631,042 | $ 11,462,494 | |
Money Market Funds [Member] | Teucrium Soybean Fund [Member] | First American Government Obligations Fund - Class X [Member] | |||
Fair value | $ 10,287,270 | $ 8,951,314 | |
Percentage of net assets | 17.61% | 19.91% | |
Shares (in shares) | 10,287,270 | 8,951,314 | |
Cost | $ 10,287,270 | $ 8,951,314 | |
Index | 4.105% | 0.026% | |
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | |||
Fair value | $ 9,920,499 | $ 4,816,883 | |
Percentage of net assets | 40.89% | 21.10% | |
Cost | $ 9,920,499 | $ 4,816,883 | |
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | First American Government Obligations Fund - Class X [Member] | |||
Fair value | $ 5,634,177 | $ 4,808,415 | |
Percentage of net assets | 23.22% | 21.06% | |
Shares (in shares) | 5,634,177 | 4,808,415 | |
Cost | $ 5,634,177 | $ 4,808,415 | |
Index | 4.105% | 0.026% | |
Money Market Funds [Member] | Teucrium Wheat Fund [Member] | |||
Fair value | $ 99,826,276 | $ 5,284,993 | |
Percentage of net assets | 43.60% | 6.99% | |
Shares (in shares) | |||
Cost | $ 99,826,276 | $ 5,284,993 | |
Money Market Funds [Member] | Teucrium Wheat Fund [Member] | First American Government Obligations Fund - Class X [Member] | |||
Fair value | $ 8,255,546 | $ 5,281,765 | |
Percentage of net assets | 3.61% | 6.99% | |
Shares (in shares) | 8,255,546 | 5,281,765 | |
Cost | $ 8,255,546 | $ 5,281,765 | |
Index | 4.105% | 0.026% | |
Money Market Funds [Member] | Teucrium Agricultural Fund [Member] | First American Government Obligations Fund - Class X [Member] | |||
Fair value | $ 4,716 | $ 4,801 | |
Percentage of net assets | 0.01% | 0.03% | |
Shares (in shares) | 4,716 | 4,801 | |
Cost | $ 4,716 | $ 4,801 | |
Index | 4.105% | 0.026% | |
[1]The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds. |
Note 1 - Organization and Op_23
Note 1 - Organization and Operation - Teucrium Agricultural Fund (Details Textual) | 12 Months Ended | |||||||||
Mar. 27, 2012 USD ($) $ / shares shares | Sep. 19, 2011 USD ($) $ / shares shares | Sep. 16, 2011 USD ($) shares | Jun. 08, 2010 USD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) shares | Mar. 28, 2012 shares | Feb. 10, 2012 shares | Jun. 13, 2011 shares | |
Stock Issued During Period, Value, New Issues | $ | $ 1,251,138,564 | $ 176,346,175 | $ 305,719,849 | |||||||
Number of Agricultural Commodity Pools | 4 | |||||||||
Teucrium Agricultural Fund [Member] | ||||||||||
Common Stock, Shares Authorized (in shares) | 4,075,000 | 5,000,000 | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 300,000 | 1,362,500 | 537,500 | 12,500 | ||||||
Stock Issued During Period, Value, New Issues | $ | $ 15,000,000 | $ 45,566,391 | $ 13,467,624 | $ 235,946 | ||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 50 | |||||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 1,262,502 | 525,002 | 2 | |||||||
Number of Agricultural Commodity Pools | 4 | |||||||||
Underlying Fund Average, Weighting to Each Fund | 25% | |||||||||
Teucrium Corn Fund [Member] | ||||||||||
Common Stock, Shares Authorized (in shares) | 22,425,000 | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 200,000 | 8,050,000 | 5,025,000 | 12,675,000 | ||||||
Stock Issued During Period, Value, New Issues | $ | $ 5,000,000 | $ 218,911,328 | $ 95,586,980 | $ 155,612,893 | ||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 5,675,004 | 5,600,004 | ||||||||
Teucrium Corn Fund [Member] | Second to Expire [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 35% | |||||||||
Teucrium Corn Fund [Member] | Third to Expire [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 30% | |||||||||
Teucrium Corn Fund [Member] | December Following the Third to Expire [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 35% | |||||||||
Teucrium Wheat Fund [Member] | ||||||||||
Common Stock, Shares Authorized (in shares) | 33,600,000 | 10,000,000 | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 100,000 | 100,000 | 85,350,000 | 4,050,000 | 5,350,000 | |||||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 2,500,000 | $ 896,636,750 | $ 26,494,978 | $ 29,814,205 | |||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 25 | |||||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 28,675,004 | 10,250,004 | ||||||||
Teucrium Wheat Fund [Member] | Second to Expire [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 35% | |||||||||
Teucrium Wheat Fund [Member] | Third to Expire [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 30% | |||||||||
Teucrium Wheat Fund [Member] | December Following the Third to Expire [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 35% | |||||||||
Teucrium Soybean Fund [Member] | ||||||||||
Common Stock, Shares Authorized (in shares) | 15,875,000 | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 100,000 | 2,200,000 | 1,225,000 | 7,600,000 | ||||||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 60,420,360 | $ 26,122,875 | $ 110,771,840 | ||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 2,050,004 | 1,975,004 | ||||||||
Teucrium Soybean Fund [Member] | Second to Expire [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 35% | |||||||||
Teucrium Soybean Fund [Member] | Third to Expire [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 30% | |||||||||
Teucrium Soybean Fund [Member] | Expiring in the November Following the Expiration of the Third to Expire Contract [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 35% | |||||||||
Teucrium Sugar Fund [Member] | ||||||||||
Common Stock, Shares Authorized (in shares) | 21,450,000 | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 100,000 | 2,800,000 | 1,700,000 | 1,575,000 | ||||||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 27,142,395 | $ 14,673,718 | $ 9,284,965 | ||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 2,550,004 | 2,475,004 | ||||||||
Teucrium Sugar Fund [Member] | Second to Expire [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 35% | |||||||||
Teucrium Sugar Fund [Member] | Third to Expire [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 30% | |||||||||
Teucrium Sugar Fund [Member] | Expiring in the March Following the Expiration of the Third to Expire Contract [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 35% |
Note 1 - Organization and Op_24
Note 1 - Organization and Operation - Benchmark - Teucrium Agricultural Fund (Details) - Teucrium Agricultural Fund [Member] | Dec. 31, 2022 |
Underlying Fund Average, Weighting to Each Fund | 25% |
Teucrium Corn Fund [Member] | |
Underlying Fund Average, Weighting to Each Fund | 25% |
Teucrium Soybean Fund [Member] | |
Underlying Fund Average, Weighting to Each Fund | 25% |
Teucrium Sugar Fund [Member] | |
Underlying Fund Average, Weighting to Each Fund | 25% |
Teucrium Wheat Fund [Member] | |
Underlying Fund Average, Weighting to Each Fund | 25% |
Note 2 - Principal Contracts_25
Note 2 - Principal Contracts and Agreements - Teucrium Agricultural Fund (Details Textual) | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
U.S. Bank N.A. [Member] | Custody Services [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, Up to One Billion | 0.0075% |
Related Party Transaction, Percentage of Average Gross Assets, Over One Billion | 0.005% |
U.S. Bank N.A. [Member] | Custody Services [Member] | Teucrium Agricultural Fund [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, Up to One Billion | 0.0075% |
Related Party Transaction, Percentage of Average Gross Assets, Over One Billion | 0.005% |
Global Fund Services [Member] | Transfer Agency, Fund Accounting and Fund Administration Services [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, First 500 Million | 0.05% |
Related Party Transaction, Percentage of Average Gross Assets, Second 500 Million | 0.04% |
Related Party Transaction, Percentage of Average Gross Assets, Next Two Billion | 0.03% |
Related Party Transaction, Percentage of Average Gross Assets, Over Three Billion | 0.02% |
Global Fund Services [Member] | Transfer Agency, Fund Accounting and Fund Administration Services [Member] | Teucrium Agricultural Fund [Member] | |
Related Party Transaction, Percentage of Average Gross Assets, First 500 Million | 0.05% |
Related Party Transaction, Percentage of Average Gross Assets, Second 500 Million | 0.04% |
Related Party Transaction, Percentage of Average Gross Assets, Next Two Billion | 0.03% |
Related Party Transaction, Percentage of Average Gross Assets, Over Three Billion | 0.02% |
U.S. Bank N.A. and Global Fund Services [Member] | Custody, Transfer Agency, Fund Accounting and Fund Administration Services [Member] | |
Related Party Transaction, Minimum Annual Fee Per Fund | $ 47,000 |
U.S. Bank N.A. and Global Fund Services [Member] | Custody, Transfer Agency, Fund Accounting and Fund Administration Services [Member] | Teucrium Agricultural Fund [Member] | |
Related Party Transaction, Minimum Annual Fee Per Fund | $ 47,000 |
Foreside Fund Services, LLC [Member] | Distribution Services Agreement [Member] | |
Related Party Transaction, Percentage of Average Daily Net Assets | 0.01% |
Related Party Transaction, Aggregate Annual Fee for all Funds | $ 100,000 |
Foreside Fund Services, LLC [Member] | Distribution Services Agreement [Member] | Teucrium Agricultural Fund [Member] | |
Related Party Transaction, Percentage of Average Daily Net Assets | 0.01% |
Related Party Transaction, Aggregate Annual Fee for all Funds | $ 100,000 |
Foreside Fund Services, LLC [Member] | Securities Activities and Service Agreement (SASA) [Member] | |
Related Party Transaction, Fee Per Registered Representative | 5,000 |
Related Party Transaction, Fee Per Registered Location | 1,000 |
Foreside Fund Services, LLC [Member] | Securities Activities and Service Agreement (SASA) [Member] | Teucrium Agricultural Fund [Member] | |
Related Party Transaction, Fee Per Registered Representative | 5,000 |
Related Party Transaction, Fee Per Registered Location | 1,000 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | 11 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | Teucrium Agricultural Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | 11 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.50 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 20% |
Related Party Transaction, Exchange Maintenance Margin | 9.60% |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | Teucrium Agricultural Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.50 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 20% |
Related Party Transaction, Exchange Maintenance Margin | 9.60% |
Wilmington Trust Company [Member] | |
Related Party Transaction, Annual Fee | $ 3,300 |
Wilmington Trust Company [Member] | Teucrium Agricultural Fund [Member] | |
Related Party Transaction, Annual Fee | 3,300 |
Thales Capital Partners LLC [Member] | Distribution and Solicitation-related Services [Member] | |
Related Party Transaction, Quarterly Fee Amount | $ 18,750 |
Related Party Transaction, Percentage of New Assets in Referred Accounts | 0.10% |
Thales Capital Partners LLC [Member] | Distribution and Solicitation-related Services [Member] | Teucrium Agricultural Fund [Member] | |
Related Party Transaction, Quarterly Fee Amount | $ 18,750 |
Related Party Transaction, Percentage of New Assets in Referred Accounts | 0.10% |
Note 2 - Principal Contracts_26
Note 2 - Principal Contracts and Agreements - Summary of Expenses - Teucrium Agricultural Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Amount Recognized | $ 2,721,842 | $ 2,321,539 | $ 2,279,672 |
Amount Waived | 518,599 | 1,052,715 | 775,432 |
Wilmington Trust Company [Member] | |||
Amount Recognized | 3,300 | 3,300 | 3,300 |
Amount Waived | 550 | 991 | 2,215 |
Thales Capital Partners LLC [Member] | |||
Amount Recognized | 278,958 | 297,222 | 116,901 |
Amount Waived | 106,944 | 153,198 | 57,988 |
Teucrium Agricultural Fund [Member] | |||
Amount Recognized | 125,972 | 51,117 | 10,906 |
Amount Waived | 86,496 | 46,063 | 9,518 |
Teucrium Agricultural Fund [Member] | Wilmington Trust Company [Member] | |||
Amount Recognized | 550 | 108 | 11 |
Amount Waived | 0 | 108 | 0 |
Teucrium Agricultural Fund [Member] | Thales Capital Partners LLC [Member] | |||
Amount Recognized | 12,548 | 5,350 | 533 |
Amount Waived | 8,843 | 5,350 | 365 |
Custody Services [Member] | |||
Amount Recognized | 410,660 | 363,000 | 369,293 |
Amount Waived | 42,625 | 120,850 | 71,342 |
Custody Services [Member] | Teucrium Agricultural Fund [Member] | |||
Amount Recognized | 19,180 | 7,579 | 1,874 |
Amount Waived | 19,180 | 7,199 | 1,702 |
Distribution Services [Member] | |||
Amount Recognized | 200,313 | 186,531 | 180,024 |
Amount Waived | 48,593 | 94,724 | 68,140 |
Distribution Services [Member] | Teucrium Agricultural Fund [Member] | |||
Amount Recognized | 9,264 | 3,860 | 851 |
Amount Waived | $ 9,264 | $ 3,702 | $ 790 |
Note 3 - Summary of Signific_40
Note 3 - Summary of Significant Accounting Policies - Teucrium Agricultural Fund (Details Textual) | 12 Months Ended | |||
Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | |
Open Tax Year | 2019 2020 2021 2022 | |||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | 0 | 0 | 0 | 0 |
Money Market Funds, at Carrying Value | $ 188,640,417 | 32,968,833 | 61,121,678 | |
Teucrium Agricultural Fund [Member] | ||||
Open Tax Year | 2019 2020 2021 2022 | |||
Unrecognized Tax Benefits, Ending Balance | $ 0 | 0 | 0 | 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | 0 | $ 0 | $ 0 |
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 12,500 | |||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 12,500 | |||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | |||
Minimum Number of RedemptionBaskets | 4 | |||
Money Market Funds, at Carrying Value | $ 4,716 | $ 4,801 | ||
Teucrium Agricultural Fund [Member] | Teucrium Trading, LLC [Member] | ||||
Management Fee, Percentage of Average Daily Net Assets | 1% |
Note 3 - Summary of Signific_41
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions - Teucrium Agricultural Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Amount Recognized | $ 2,721,842 | $ 2,321,539 | $ 2,279,672 |
Amount Waived | 518,599 | 1,052,715 | 775,432 |
Teucrium Agricultural Fund [Member] | |||
Amount Recognized | 125,972 | 51,117 | 10,906 |
Amount Waived | $ 86,496 | $ 46,063 | $ 9,518 |
Note 3 - Summary of Signific_42
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor - Teucrium Agricultural Fund (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expenses waived by the Sponsor | $ 1,277,037 | $ 2,183,856 | $ 1,580,551 |
Teucrium Agricultural Fund [Member] | |||
Expenses waived by the Sponsor | $ 262,928 | $ 105,722 | $ 39,833 |
Note 4 - Fair Value Measurem_20
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Agricultural Fund (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Cash Equivalents | $ 388,000,477 | $ 152,949,199 |
Total | 396,207,858 | 166,364,500 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 388,000,477 | 152,949,199 |
Total | 396,207,858 | 166,364,500 |
Fair Value, Inputs, Level 2 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Teucrium Agricultural Fund [Member] | ||
Exchange Traded Funds | 39,572,698 | 14,178,019 |
Cash Equivalents | 4,716 | 4,801 |
Total | 39,577,414 | 14,182,820 |
Teucrium Agricultural Fund [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Exchange Traded Funds | 39,572,698 | 14,178,019 |
Cash Equivalents | 4,716 | 4,801 |
Total | 39,577,414 | 14,182,820 |
Teucrium Agricultural Fund [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Exchange Traded Funds | 0 | 0 |
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Teucrium Agricultural Fund [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Exchange Traded Funds | 0 | 0 |
Cash Equivalents | 0 | 0 |
Total | $ 0 | $ 0 |
Note 5 - Financial Highlights_3
Note 5 - Financial Highlights - Schedule of Per Share Performance Data and Other Supplemental Financial Data - Teucrium Agricultural Fund (Details) - Teucrium Agricultural Fund [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net asset value per share at beginning of period (in dollars per share) | $ 27.01 | $ 21.12 | $ 19.72 |
Income (loss) from investment operations: | |||
Net realized and unrealized gain on commodity futures contracts (in dollars per share) | 4.38 | 5.93 | 1.44 |
Total expenses, net (in dollars per share) | (0.04) | (0.04) | (0.04) |
Net increase in net asset value (in dollars per share) | 4.34 | 5.89 | 1.40 |
Net asset value per share at end of period (in dollars per share) | $ 31.35 | $ 27.01 | $ 21.12 |
Total Return | 16.06% | 27.85% | 7.14% |
Ratios to Average Net Assets (Annualized) | |||
Total expenses | 0.84% | 1.54% | 3.31% |
Total expenses, net | 0.14% | 0.17% | 0.20% |
Net investment loss | (0.13%) | (0.17%) | (0.20%) |
Combined Schedule of Investme_4
Combined Schedule of Investments - Investments - Hashdex Bitcoin Futures ETF (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Money Market Funds [Member] | ||
Cost | $ 188,640,417 | $ 32,968,833 |
Fair value | $ 188,640,417 | $ 32,968,833 |
Percentage of net assets | 40.54% | 12.48% |
Shares (in shares) | ||
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 4.105% | 0.026% |
Cost | $ 28,382,122 | $ 30,443,449 |
Fair value | $ 28,382,122 | $ 30,443,449 |
Percentage of net assets | 6.10% | 11.52% |
Shares (in shares) | 28,382,122 | 30,443,449 |
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Index | 4.105% | |
Cost | $ 701,969 | |
Fair value | $ 701,969 | |
Percentage of net assets | 65.59% | |
Shares (in shares) | 701,969 | |
Cryptocurrency Futures Contracts [Member] | CME Bitcoin Futures JAN23 [Member] | ||
Fair value | $ 24,979,000 | |
Percentage of net assets | 0.01% | |
Number of contracts | 6 | |
Notional amount, asset | $ 496,050,000 | |
Cryptocurrency Futures Contracts [Member] | CME Bitcoin Futures FEB23 [Member] | ||
Fair value | $ 4,173,000 | |
Percentage of net assets | 0% | |
Number of contracts | 7 | |
Notional amount, asset | $ 575,575,000 | |
Cryptocurrency Futures Contracts [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Fair value | $ 29,152 | |
Percentage of net assets | 2.72% | |
Notional amount, asset | $ 1,071,625 | |
Cryptocurrency Futures Contracts [Member] | Hashdex Bitcoin Futures ETF [Member] | CME Bitcoin Futures JAN23 [Member] | ||
Fair value | $ 24,979 | |
Percentage of net assets | 2.33% | |
Number of contracts | 6 | |
Notional amount, asset | $ 496,050 | |
Cryptocurrency Futures Contracts [Member] | Hashdex Bitcoin Futures ETF [Member] | CME Bitcoin Futures FEB23 [Member] | ||
Fair value | $ 4,173 | |
Percentage of net assets | 0.39% | |
Number of contracts | 7 | |
Notional amount, asset | $ 575,575 |
Note 1 - Organization and Op_25
Note 1 - Organization and Operation - Hashdex Bitcoin Futures ETF (Details Textual) | 4 Months Ended | 12 Months Ended | ||||
Sep. 16, 2022 USD ($) $ / shares shares | Sep. 15, 2022 USD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Stock Issued During Period, Value, New Issues | $ 1,251,138,564 | $ 176,346,175 | $ 305,719,849 | |||
Hashdex Bitcoin Futures ETF [Member] | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 50,000 | 50,000 | 100,004 | |||
Stock Issued During Period, Value, New Issues | $ 1,250,000 | $ 1,250,000 | $ 2,461,340 | |||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 25 | |||||
Number of Futures Contracts Offered | 2 | 2 | ||||
Hashdex Bitcoin Futures ETF [Member] | BTC Contracts [Member] | ||||||
Number of Bitcoin in Contract | 5 | 5 | ||||
Hashdex Bitcoin Futures ETF [Member] | MBT Contracts [Member] | ||||||
Number of Bitcoin in Contract | 0.10 | 0.10 |
Note 1 - Organization and Op_26
Note 1 - Organization and Operation - Benchmark - Hashdex Bitcoin Futures ETF (Details) - Hashdex Bitcoin Futures ETF [Member] | Dec. 31, 2022 |
First to Expire [Member] | |
Weighting | 50% |
Second to Expire [Member] | |
Weighting | 50% |
Note 2 - Principal Contracts_27
Note 2 - Principal Contracts and Agreements - Hashdex Bitcoin Futures ETF (Details Textual) | 4 Months Ended | 12 Months Ended |
Dec. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
U.S. Bank N.A. [Member] | Custody Services [Member] | ||
Related Party Transaction, Percentage of Average Gross Assets, Up to One Billion | 0.0075% | |
Related Party Transaction, Percentage of Average Gross Assets, Over One Billion | 0.005% | |
U.S. Bank N.A. [Member] | Custody Services [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Related Party Transaction, Percentage of Average Gross Assets, Up to One Billion | 0.0075% | |
Related Party Transaction, Percentage of Average Gross Assets, Over One Billion | 0.005% | |
Global Fund Services [Member] | Transfer Agency, Fund Accounting and Fund Administration Services [Member] | ||
Related Party Transaction, Percentage of Average Gross Assets, First 500 Million | 0.05% | |
Related Party Transaction, Percentage of Average Gross Assets, Second 500 Million | 0.04% | |
Related Party Transaction, Percentage of Average Gross Assets, Next Two Billion | 0.03% | |
Related Party Transaction, Percentage of Average Gross Assets, Over Three Billion | 0.02% | |
Global Fund Services [Member] | Transfer Agency, Fund Accounting and Fund Administration Services [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Related Party Transaction, Percentage of Average Gross Assets, First 500 Million | 0.05% | |
Related Party Transaction, Percentage of Average Gross Assets, Second 500 Million | 0.04% | |
Related Party Transaction, Percentage of Average Gross Assets, Next Two Billion | 0.03% | |
Related Party Transaction, Percentage of Average Gross Assets, Over Three Billion | 0.02% | |
U.S. Bank N.A. and Global Fund Services [Member] | Custody, Transfer Agency, Fund Accounting and Fund Administration Services [Member] | ||
Related Party Transaction, Minimum Annual Fee Per Fund | $ 47,000 | $ 47,000 |
U.S. Bank N.A. and Global Fund Services [Member] | Custody, Transfer Agency, Fund Accounting and Fund Administration Services [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Related Party Transaction, Minimum Annual Fee Per Fund | 47,000 | $ 47,000 |
Foreside Fund Services, LLC [Member] | Distribution Services Agreement [Member] | ||
Related Party Transaction, Percentage of Average Daily Net Assets | 0.01% | |
Related Party Transaction, Aggregate Annual Fee for all Funds | $ 100,000 | $ 100,000 |
Foreside Fund Services, LLC [Member] | Distribution Services Agreement [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Related Party Transaction, Percentage of Average Daily Net Assets | 0.01% | |
Related Party Transaction, Aggregate Annual Fee for all Funds | $ 100,000 | $ 100,000 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | ||
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 20% | 20% |
Related Party Transaction, Exchange Maintenance Margin | 9.60% | 9.60% |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | Minimum [Member] | ||
Related Party Transaction, Fee Per Half Turn | $ 10 | $ 10 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | Maximum [Member] | ||
Related Party Transaction, Fee Per Half Turn | 25 | 25 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | Hashdex Bitcoin Futures ETF [Member] | Minimum [Member] | ||
Related Party Transaction, Fee Per Half Turn | 10 | 10 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | Hashdex Bitcoin Futures ETF [Member] | Maximum [Member] | ||
Related Party Transaction, Fee Per Half Turn | $ 25 | $ 25 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 20% | 20% |
Related Party Transaction, Exchange Maintenance Margin | 9.60% | 9.60% |
Phillip Capital Inc [Member] | Brokerage Commissions [Member] | Minimum [Member] | ||
Related Party Transaction, Fee Per Half Turn | $ 35 | $ 35 |
Phillip Capital Inc [Member] | Brokerage Commissions [Member] | Maximum [Member] | ||
Related Party Transaction, Fee Per Half Turn | 45 | 45 |
Phillip Capital Inc [Member] | Brokerage Commissions [Member] | Hashdex Bitcoin Futures ETF [Member] | Minimum [Member] | ||
Related Party Transaction, Fee Per Half Turn | 35 | 35 |
Phillip Capital Inc [Member] | Brokerage Commissions [Member] | Hashdex Bitcoin Futures ETF [Member] | Maximum [Member] | ||
Related Party Transaction, Fee Per Half Turn | 45 | 45 |
Wilmington Trust Company [Member] | ||
Related Party Transaction, Annual Fee | 3,300 | 3,300 |
Wilmington Trust Company [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Related Party Transaction, Annual Fee | $ 3,300 | $ 3,300 |
Note 2 - Principal Contracts_28
Note 2 - Principal Contracts and Agreements - Summary of Expenses - Hashdex Bitcoin Futures ETF (Details) - USD ($) | 4 Months Ended | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Amount Recognized | $ 2,721,842 | $ 2,321,539 | $ 2,279,672 | |
Amount Waived | 518,599 | 1,052,715 | 775,432 | |
Wilmington Trust Company [Member] | ||||
Amount Recognized | 3,300 | 3,300 | 3,300 | |
Amount Waived | 550 | 991 | 2,215 | |
Hashdex Bitcoin Futures ETF [Member] | Wilmington Trust Company [Member] | ||||
Amount Recognized | $ 550 | |||
Amount Waived | 550 | |||
Custody Services [Member] | ||||
Amount Recognized | 410,660 | 363,000 | 369,293 | |
Amount Waived | 42,625 | 120,850 | 71,342 | |
Custody Services [Member] | Hashdex Bitcoin Futures ETF [Member] | ||||
Amount Recognized | 213 | |||
Amount Waived | 213 | |||
Distribution Services [Member] | ||||
Amount Recognized | 200,313 | 186,531 | 180,024 | |
Amount Waived | $ 48,593 | $ 94,724 | $ 68,140 | |
Distribution Services [Member] | Hashdex Bitcoin Futures ETF [Member] | ||||
Amount Recognized | 95 | |||
Amount Waived | $ 95 |
Note 3 - Summary of Signific_43
Note 3 - Summary of Significant Accounting Policies - Hashdex Bitcoin Futures ETF (Details Textual) | 4 Months Ended | 12 Months Ended | |||
Dec. 31, 2022 USD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | $ 0 | $ 0 | $ 0 | |
Money Market Funds, at Carrying Value | $ 188,640,417 | $ 188,640,417 | $ 32,968,833 | $ 61,121,678 | |
Hashdex Bitcoin Futures ETF [Member] | |||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | ||||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 10,000 | 10,000 | |||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 10,000 | 10,000 | |||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | 50,000 | |||
Minimum Number of RedemptionBaskets | 5 | 5 | |||
Money Market Funds, at Carrying Value | $ 701,969 | $ 701,969 | |||
Hashdex Bitcoin Futures ETF [Member] | Teucrium Trading, LLC [Member] | |||||
Management Fee, Percentage of Average Daily Net Assets | 0.94% | 0.94% |
Note 3 - Summary of Signific_44
Note 3 - Summary of Significant Accounting Policies - Total Brokerage Commissions Paid - Hashdex Bitcoin Futures ETF (Details) - USD ($) | 4 Months Ended | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Brokerage Commissions | $ 667,746 | $ 240,134 | $ 240,922 | |
Hashdex Bitcoin Futures ETF [Member] | ||||
Brokerage Commissions | $ 2,217 | $ 2,217 | $ 0 | $ 0 |
Note 3 - Summary of Signific_45
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor - Hashdex Bitcoin Futures ETF (Details) - USD ($) | 4 Months Ended | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expenses waived by the Sponsor | $ 1,277,037 | $ 2,183,856 | $ 1,580,551 | |
Hashdex Bitcoin Futures ETF [Member] | ||||
Expenses waived by the Sponsor | $ 75,291 | $ 75,291 | $ 0 | $ 0 |
Note 4 - Fair Value Measurem_21
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Hashdex Bitcoin Futures ETF (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Cash Equivalents | $ 388,000,477 | $ 152,949,199 |
Total | 396,207,858 | 166,364,500 |
Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 29,152 | |
Hashdex Bitcoin Futures ETF [Member] | ||
Cash Equivalents | 701,969 | |
Total | 731,121 | |
Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 29,152 | |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 388,000,477 | 152,949,199 |
Total | 396,207,858 | 166,364,500 |
Fair Value, Inputs, Level 1 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 29,152 | |
Fair Value, Inputs, Level 1 [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Cash Equivalents | 701,969 | |
Total | 731,121 | |
Fair Value, Inputs, Level 1 [Member] | Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 29,152 | |
Fair Value, Inputs, Level 2 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Fair Value, Inputs, Level 2 [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Cash Equivalents | 0 | |
Total | 0 | |
Fair Value, Inputs, Level 2 [Member] | Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | $ 0 |
Fair Value, Inputs, Level 3 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Fair Value, Inputs, Level 3 [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Cash Equivalents | 0 | |
Total | 0 | |
Fair Value, Inputs, Level 3 [Member] | Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | $ 0 |
Note 5 - Derivative Instrume_28
Note 5 - Derivative Instruments and Hedging Activities - Hashdex Bitcoin Futures ETF (Details Textual) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Derivative, Notional Amount | $ 653.8 | $ 321.8 | $ 224.9 |
Hashdex Bitcoin Futures ETF [Member] | |||
Derivative, Notional Amount | $ 1.4 |
Note 5 - Derivative Instrume_29
Note 5 - Derivative Instruments and Hedging Activities - Offsetting of Financial Assets and Liabilities and Derivative Assets and Liabilities - Hashdex Bitcoin Futures ETF (Details) - Bitcoin Futures Contracts [Member] | Dec. 31, 2022 USD ($) |
Gross amount of recognized assets | $ 29,152 |
Gross amount offset, assets | 0 |
Derivative asset | 29,152 |
Available for offset, assets | 0 |
Collateral, due to broker, assets | 0 |
Net amount, assets | 29,152 |
Hashdex Bitcoin Futures ETF [Member] | |
Gross amount of recognized assets | 29,152 |
Gross amount offset, assets | 0 |
Derivative asset | 29,152 |
Available for offset, assets | 0 |
Collateral, due to broker, assets | 0 |
Net amount, assets | $ 29,152 |
Note 5 - Derivative Instrume_30
Note 5 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) on Derivative Instruments - Hashdex Bitcoin Futures ETF (Details) - USD ($) | 4 Months Ended | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Realized Gain on Commodity Futures Contracts | $ (43,176,670) | $ 117,839,481 | $ 25,091,898 | |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (33,905,514) | $ (29,744,871) | $ 35,293,415 | |
Hashdex Bitcoin Futures ETF [Member] | ||||
Realized Gain on Commodity Futures Contracts | $ (423,794) | |||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 29,152 | |||
Bitcoin Futures Contracts [Member] | ||||
Realized Gain on Commodity Futures Contracts | (423,794) | |||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ 29,152 | |||
Bitcoin Futures Contracts [Member] | Hashdex Bitcoin Futures ETF [Member] | ||||
Realized Gain on Commodity Futures Contracts | (423,794) | |||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ 29,152 |
Note 6 - Financial Highlight_15
Note 6 - Financial Highlights - Schedule of Per Share Performance Data and Other Supplemental Financial Data - Hashdex Bitcoin Futures ETF (Details) - Hashdex Bitcoin Futures ETF [Member] | 4 Months Ended |
Dec. 31, 2022 $ / shares | |
Net asset value per share at beginning of period (in dollars per share) | $ 25 |
Income (loss) from investment operations: | |
Investment income (in dollars per share) | 0.19 |
Net realized and unrealized gain on commodity futures contracts (in dollars per share) | (3.73) |
Total expenses, net (in dollars per share) | (0.06) |
Net increase in net asset value (in dollars per share) | (3.60) |
Net asset value per share at end of period (in dollars per share) | $ 21.40 |
Total Return | (14.39%) |
Ratios to Average Net Assets (Annualized) | |
Total expenses | 17.60% |
Total expenses, net | 0.94% |
Net investment loss | 1.90% |
Note 8 - Subsequent Events - _7
Note 8 - Subsequent Events - Hashdex Bitcoin Futures ETF (Details Textual) - USD ($) | 2 Months Ended | 4 Months Ended | 12 Months Ended | ||
Feb. 28, 2023 | Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Investment Company, Net Assets, Period Increase (Decrease), Total | $ 201,098,830 | $ (45,836,426) | $ 142,206,597 | ||
Hashdex Bitcoin Futures ETF [Member] | |||||
Investment Company, Net Assets, Period Increase (Decrease), Total | $ 1,070,263 | ||||
Hashdex Bitcoin Futures ETF [Member] | Subsequent Event [Member] | |||||
Investment Company, Net Assets, Period Increase (Decrease), Total | $ 431,977 | ||||
Net Assets, Increase, Percent | 40% | ||||
Investment Company, Net Asset Value Per Share, Period Increase (Decrease), Percent | 40% |