Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 07, 2023 | |
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 | Q3 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-34765 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 27-0724963 | |
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 Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Hashdex Bitcoin Futures ETF [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 50,000 | |
Teucrium Agricultural Fund [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 687,502 | |
Teucrium Wheat Fund [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 34,675,004 | |
Teucrium Soybean Fund [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 1,050,004 | |
Teucrium Sugar Fund [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 1,900,004 | |
Teucrium Corn Fund [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 4,025,004 |
Combined Statements of Assets a
Combined Statements of Assets and Liabilities (Current Period Unaudited) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and cash equivalents | $ 322,537,166 | $ 434,062,296 |
Interest receivable | 528,723 | 317,351 |
Other assets | 43,652 | 9,069 |
Capital shares receivable | 0 | 1,344,830 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 2,020,707 | 8,207,381 |
Due from broker | 43,881,117 | 61,563,417 |
Total equity in trading accounts | 45,901,824 | 69,770,798 |
Total assets | 369,011,365 | 505,504,344 |
Liabilities | ||
Management fee payable to Sponsor | 294,761 | 432,882 |
Other liabilities | 185,968 | 78,880 |
Payable for shares redeemed | 0 | 10,183,915 |
Equity in trading accounts, liabilities: | ||
Commodity and cryptocurrency futures contracts | 25,923,738 | 29,433,069 |
Due to broker | 997,931 | 0 |
Total equity in trading accounts | 26,921,669 | 29,433,069 |
Total liabilities | 27,402,398 | 40,128,746 |
Net Assets | $ 341,608,967 | $ 465,375,598 |
Combined Statements of Operatio
Combined Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [2] | Sep. 30, 2023 | Sep. 30, 2022 | ||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||||||
Realized loss on commodity and cryptocurrency futures contracts | $ (42,896,164) | $ (103,278,313) | [1] | $ (85,437,409) | $ (14,666,473) | [1] |
Net change in unrealized appreciation (depreciation) on commodity and cryptocurrency futures contracts | 11,792,810 | 112,241,847 | [1] | (2,677,343) | (15,553,587) | [1],[2] |
Interest income | 4,636,897 | 3,411,665 | 13,164,733 | 5,411,206 | [2] | |
Total (loss) income | (26,466,457) | 12,375,199 | (74,950,019) | (24,808,854) | ||
Expenses | ||||||
Management fees | 890,028 | 1,666,788 | 2,729,807 | 5,121,250 | [2] | |
Professional fees | 589,097 | 202,539 | 1,592,324 | 1,012,066 | [2] | |
Distribution and marketing fees | 1,024,521 | 1,170,838 | 2,928,637 | 3,058,779 | [2] | |
Custodian fees and expenses | 115,736 | 151,161 | 333,733 | 280,651 | [2] | |
Business permits and licenses fees | 42,299 | 17,473 | 113,427 | 114,848 | [2] | |
General and administrative expenses | 52,966 | 46,910 | 226,049 | 257,025 | [2] | |
Other expenses | 8 | 21 | 8 | 26 | [2] | |
Total expenses | 2,714,655 | 3,255,730 | 7,923,985 | 9,844,645 | [2] | |
Expenses waived by the Sponsor | (168,505) | (62,609) | (578,373) | (1,115,590) | [2] | |
Total expenses, net | 2,546,150 | 3,193,121 | 7,345,612 | 8,729,055 | [2] | |
Net (loss) income | $ (29,012,607) | $ 9,182,078 | $ (82,295,631) | $ (33,537,909) | [2] | |
[1]The Fund commenced operations on September 15, 2022.[2]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Combined Statements of Changes
Combined Statements of Changes in Net Assets (Unaudited) - USD ($) | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Operations | |||
Net (loss) income | $ (82,295,631) | $ (33,537,909) | |
Capital transactions | |||
Issuance of Shares | 140,135,089 | 1,216,204,797 | |
Redemption of Shares | (198,374,229) | (726,634,292) | |
Net change in the cost of the Underlying Funds | 16,768,140 | (33,335,082) | |
Total capital transactions | (41,471,000) | 456,235,423 | |
Net change in net assets | (123,766,631) | 422,697,514 | |
Net assets, beginning of period | 465,375,598 | 264,276,768 | |
Net assets, end of period | $ 341,608,967 | $ 686,974,282 | |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Combined Statements of Cash Flo
Combined Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Cash flows from operating activities: | |||
Net (loss) income | $ (82,295,631) | $ (33,537,909) | |
Adjustments to reconcile net (loss) income to net cash (used in) operating activities: | |||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 2,677,343 | 15,553,587 | [2] |
Changes in operating assets and liabilities: | |||
Due from broker | 17,682,300 | (59,977,726) | |
Interest receivable | (211,372) | (401,291) | |
Other assets | (34,583) | (1,568) | |
Due to broker | 997,931 | (888,877) | |
Management fee payable to Sponsor | (138,121) | 334,400 | |
Other liabilities | 107,088 | (13,084) | |
Net cash provided by (used in) operating activities | (61,215,045) | (78,932,468) | |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 141,479,919 | 1,216,204,797 | |
Redemption of Shares | (208,558,144) | (726,634,292) | |
Net change in cost of the Underlying Funds | 16,768,140 | (33,335,082) | |
Net cash (used in) provided by financing activities | (50,310,085) | 456,235,423 | |
Net change in cash and cash equivalents | (111,525,130) | 377,302,955 | |
Cash and cash equivalents beginning of period | 434,062,296 | 252,211,943 | |
Cash and cash equivalents end of period | $ 322,537,166 | $ 629,514,898 | |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022.[2]The Fund commenced operations on September 15, 2022. |
Statements of Assets and Liabil
Statements of Assets and Liabilities (Current Period Unaudited) - Teucrium Corn Fund - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and cash equivalents | $ 322,537,166 | $ 434,062,296 |
Interest receivable | 528,723 | 317,351 |
Other assets | 43,652 | 9,069 |
Capital shares receivable | 0 | 1,344,830 |
Equity in trading accounts: | ||
Commodity futures contracts | 2,020,707 | 8,207,381 |
Due from broker | 43,881,117 | 61,563,417 |
Total equity in trading accounts | 45,901,824 | 69,770,798 |
Total assets | 369,011,365 | 505,504,344 |
Liabilities | ||
Management fee payable to Sponsor | 294,761 | 432,882 |
Other liabilities | 185,968 | 78,880 |
Payable for shares redeemed | 0 | 10,183,915 |
Equity in trading accounts, liabilities: | ||
Total liabilities | 27,402,398 | 40,128,746 |
Net Assets | 341,608,967 | 465,375,598 |
Teucrium Corn Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 85,306,712 | 142,434,737 |
Interest receivable | 141,247 | 125,014 |
Other assets | 32,231 | 854 |
Capital shares receivable | 0 | 1,344,830 |
Equity in trading accounts: | ||
Commodity futures contracts | 0 | 1,585,798 |
Due from broker | 7,216,722 | 11,625,331 |
Total equity in trading accounts | 7,216,722 | 13,211,129 |
Total assets | 92,696,912 | 157,116,564 |
Liabilities | ||
Management fee payable to Sponsor | 77,287 | 144,877 |
Other liabilities | 50,367 | 21,349 |
Payable for shares redeemed | 0 | 1,344,830 |
Equity in trading accounts, liabilities: | ||
Commodity futures contracts | 2,120,882 | 2,967,103 |
Total liabilities | 2,248,536 | 4,478,159 |
Net Assets | $ 90,448,376 | $ 152,638,405 |
Shares outstanding (in shares) | 4,100,004 | 5,675,004 |
Net asset value per share (in dollars per share) | $ 22.06 | $ 26.9 |
Market value per share (in dollars per share) | $ 22.02 | $ 26.93 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - Teucrium Corn Fund - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||||||
Realized loss on commodity and cryptocurrency futures contracts | $ (42,896,164) | $ (103,278,313) | [1],[2] | $ (85,437,409) | $ (14,666,473) | [1] |
Net change in unrealized appreciation (depreciation) on commodity and cryptocurrency futures contracts | 11,792,810 | 112,241,847 | [1],[2] | (2,677,343) | (15,553,587) | [1],[2] |
Interest income | 4,636,897 | 3,411,665 | [2] | 13,164,733 | 5,411,206 | [2] |
Total (loss) income | (26,466,457) | 12,375,199 | [2] | (74,950,019) | (24,808,854) | |
Expenses | ||||||
Management fees | 890,028 | 1,666,788 | [2] | 2,729,807 | 5,121,250 | [2] |
Professional fees | 589,097 | 202,539 | [2] | 1,592,324 | 1,012,066 | [2] |
Distribution and marketing fees | 1,024,521 | 1,170,838 | [2] | 2,928,637 | 3,058,779 | [2] |
Custodian fees and expenses | 115,736 | 151,161 | [2] | 333,733 | 280,651 | [2] |
Business permits and licenses fees | 42,299 | 17,473 | [2] | 113,427 | 114,848 | [2] |
General and administrative expenses | 52,966 | 46,910 | [2] | 226,049 | 257,025 | [2] |
Total expenses | 2,714,655 | 3,255,730 | [2] | 7,923,985 | 9,844,645 | [2] |
Expenses waived by the Sponsor | (168,505) | (62,609) | [2] | (578,373) | (1,115,590) | [2] |
Total expenses, net | 2,546,150 | 3,193,121 | [2] | 7,345,612 | 8,729,055 | [2] |
Net (loss) income | (29,012,607) | 9,182,078 | [2] | (82,295,631) | (33,537,909) | [2] |
Teucrium Corn Fund [Member] | ||||||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||||||
Realized loss on commodity and cryptocurrency futures contracts | (13,018,346) | (10,344,285) | (24,479,726) | 28,678,780 | ||
Net change in unrealized appreciation (depreciation) on commodity and cryptocurrency futures contracts | 11,306,711 | 23,856,276 | (739,577) | (3,698,432) | ||
Interest income | 1,291,003 | 1,087,852 | 4,013,603 | 1,706,156 | ||
Total (loss) income | (420,632) | 14,599,843 | (21,205,700) | 26,686,504 | ||
Expenses | ||||||
Management fees | 246,675 | 525,893 | 831,119 | 1,628,695 | ||
Professional fees | 109,970 | 48,270 | 301,580 | 330,357 | ||
Distribution and marketing fees | 279,911 | 307,484 | 786,923 | 934,170 | ||
Custodian fees and expenses | 34,535 | 42,405 | 89,338 | 77,409 | ||
Business permits and licenses fees | 12,333 | 7,049 | 21,631 | 27,907 | ||
General and administrative expenses | 12,334 | 12,197 | 58,541 | 98,381 | ||
Total expenses | 695,758 | 943,298 | 2,089,132 | 3,096,919 | ||
Expenses waived by the Sponsor | 0 | 0 | 0 | (345,855) | ||
Total expenses, net | 695,758 | 943,298 | 2,089,132 | 2,751,064 | ||
Net (loss) income | $ (1,116,390) | $ 13,656,545 | $ (23,294,832) | $ 23,935,440 | ||
Net (loss) gain per share (in dollars per share) | $ (0.16) | $ 1.98 | $ (4.84) | $ 5.46 | ||
Net (loss) gain per weighted average share (in dollars per share) | $ (0.26) | $ 1.67 | $ (5.1) | $ 2.9 | ||
Weighted average shares outstanding (in shares) | 4,325,276 | 8,188,863 | 4,571,341 | 8,240,663 | ||
[1]The Fund commenced operations on September 15, 2022.[2]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Statements of Changes in Net As
Statements of Changes in Net Assets (Unaudited) - Teucrium Corn Fund - USD ($) | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | ||
Operations | |||
Net (loss) income | $ (82,295,631) | $ (33,537,909) | [1] |
Capital transactions | |||
Issuance of Shares | 140,135,089 | 1,216,204,797 | [1] |
Redemption of Shares | (198,374,229) | (726,634,292) | [1] |
Total capital transactions | (41,471,000) | 456,235,423 | [1] |
Net change in net assets | (123,766,631) | 422,697,514 | [1] |
Net assets, beginning of period | 465,375,598 | 264,276,768 | [1] |
Net assets, end of period | 341,608,967 | 686,974,282 | [1] |
Teucrium Corn Fund [Member] | |||
Operations | |||
Net (loss) income | (23,294,832) | 23,935,440 | |
Capital transactions | |||
Issuance of Shares | 19,420,213 | 204,322,783 | |
Redemption of Shares | (58,315,410) | (134,132,043) | |
Total capital transactions | (38,895,197) | 70,190,740 | |
Net change in net assets | (62,190,029) | 94,126,180 | |
Net assets, beginning of period | 152,638,405 | 120,846,256 | |
Net assets, end of period | $ 90,448,376 | $ 214,972,436 | |
Net asset value per share at beginning of period (in dollars per share) | $ 26.9 | $ 21.58 | |
Net asset value per share at end of period (in dollars per share) | $ 22.06 | $ 27.04 | |
Creation of Shares (in shares) | 800,000 | 7,500,000 | |
Redemption of Shares (in shares) | 2,375,000 | 5,150,000 | |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - Teucrium Corn Fund - USD ($) | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | ||
Cash flows from operating activities: | |||
Net (loss) income | $ (82,295,631) | $ (33,537,909) | [1] |
Adjustments to reconcile net (loss) income to net cash (used in) operating activities: | |||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 2,677,343 | 15,553,587 | [1],[2] |
Changes in operating assets and liabilities: | |||
Due from broker | 17,682,300 | (59,977,726) | [1] |
Interest receivable | (211,372) | (401,291) | [1] |
Other assets | (34,583) | (1,568) | [1] |
Management fee payable to Sponsor | (138,121) | 334,400 | [1] |
Other liabilities | 107,088 | (13,084) | [1] |
Net cash provided by (used in) operating activities | (61,215,045) | (78,932,468) | [1] |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 141,479,919 | 1,216,204,797 | [1] |
Redemption of Shares | (208,558,144) | (726,634,292) | [1] |
Net cash (used in) provided by financing activities | (50,310,085) | 456,235,423 | [1] |
Net change in cash and cash equivalents | (111,525,130) | 377,302,955 | [1] |
Cash and cash equivalents beginning of period | 434,062,296 | 252,211,943 | [1] |
Cash and cash equivalents end of period | 322,537,166 | 629,514,898 | [1] |
Teucrium Corn Fund [Member] | |||
Cash flows from operating activities: | |||
Net (loss) income | (23,294,832) | 23,935,440 | |
Adjustments to reconcile net (loss) income to net cash (used in) operating activities: | |||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 739,577 | 3,698,432 | |
Changes in operating assets and liabilities: | |||
Due from broker | 4,408,609 | (15,362,882) | |
Interest receivable | (16,233) | (125,466) | |
Other assets | (31,377) | 0 | |
Management fee payable to Sponsor | (67,590) | 74,918 | |
Other liabilities | 29,018 | (42,145) | |
Net cash provided by (used in) operating activities | (18,232,828) | 12,178,297 | |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 20,765,043 | 204,322,783 | |
Redemption of Shares | (59,660,240) | (134,132,043) | |
Net cash (used in) provided by financing activities | (38,895,197) | 70,190,740 | |
Net change in cash and cash equivalents | (57,128,025) | 82,369,037 | |
Cash and cash equivalents beginning of period | 142,434,737 | 115,012,740 | |
Cash and cash equivalents end of period | $ 85,306,712 | $ 197,381,777 | |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022.[2]The Fund commenced operations on September 15, 2022. |
Statements of Assets and Liab_2
Statements of Assets and Liabilities (Current Period Unaudited) - Teucrium Soybean Fund - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and cash equivalents | $ 322,537,166 | $ 434,062,296 |
Interest receivable | 528,723 | 317,351 |
Other assets | 43,652 | 9,069 |
Equity in trading accounts: | ||
Commodity futures contracts | 2,020,707 | 8,207,381 |
Due from broker | 43,881,117 | 61,563,417 |
Total equity in trading accounts | 45,901,824 | 69,770,798 |
Total assets | 369,011,365 | 505,504,344 |
Liabilities | ||
Payable for shares redeemed | 0 | 10,183,915 |
Management fee payable to Sponsor | 294,761 | 432,882 |
Other liabilities | 185,968 | 78,880 |
Equity in trading accounts, liabilities: | ||
Total liabilities | 27,402,398 | 40,128,746 |
Net Assets | 341,608,967 | 465,375,598 |
Teucrium Soybean Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 29,929,777 | 58,212,569 |
Interest receivable | 50,183 | 66,135 |
Other assets | 757 | 1,160 |
Equity in trading accounts: | ||
Commodity futures contracts | 134,775 | 2,520,370 |
Due from broker | 1,638,486 | 543,205 |
Total equity in trading accounts | 1,773,261 | 3,063,575 |
Total assets | 31,753,978 | 61,343,439 |
Liabilities | ||
Payable for shares redeemed | 0 | 2,850,260 |
Management fee payable to Sponsor | 29,016 | 55,430 |
Other liabilities | 38,399 | 7,764 |
Equity in trading accounts, liabilities: | ||
Commodity futures contracts | 510,168 | 0 |
Total liabilities | 577,583 | 2,913,454 |
Net Assets | $ 31,176,395 | $ 58,429,985 |
Shares outstanding (in shares) | 1,150,004 | 2,050,004 |
Net asset value per share (in dollars per share) | $ 27.11 | $ 28.5 |
Market value per share (in dollars per share) | $ 27.07 | $ 28.5 |
Statements of Operations (Una_2
Statements of Operations (Unaudited) - Teucrium Soybean Fund - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||||||
Realized loss on commodity and cryptocurrency futures contracts | $ (42,896,164) | $ (103,278,313) | [1],[2] | $ (85,437,409) | $ (14,666,473) | [1] |
Net change in unrealized appreciation (depreciation) on commodity and cryptocurrency futures contracts | 11,792,810 | 112,241,847 | [1],[2] | (2,677,343) | (15,553,587) | [1],[2] |
Interest income | 4,636,897 | 3,411,665 | [2] | 13,164,733 | 5,411,206 | [2] |
Total (loss) income | (26,466,457) | 12,375,199 | [2] | (74,950,019) | (24,808,854) | |
Expenses | ||||||
Management fees | 890,028 | 1,666,788 | [2] | 2,729,807 | 5,121,250 | [2] |
Professional fees | 589,097 | 202,539 | [2] | 1,592,324 | 1,012,066 | [2] |
Distribution and marketing fees | 1,024,521 | 1,170,838 | [2] | 2,928,637 | 3,058,779 | [2] |
Custodian fees and expenses | 115,736 | 151,161 | [2] | 333,733 | 280,651 | [2] |
Business permits and licenses fees | 42,299 | 17,473 | [2] | 113,427 | 114,848 | [2] |
General and administrative expenses | 52,966 | 46,910 | [2] | 226,049 | 257,025 | [2] |
Total expenses | 2,714,655 | 3,255,730 | [2] | 7,923,985 | 9,844,645 | [2] |
Expenses waived by the Sponsor | (168,505) | (62,609) | [2] | (578,373) | (1,115,590) | [2] |
Total expenses, net | 2,546,150 | 3,193,121 | [2] | 7,345,612 | 8,729,055 | [2] |
Net (loss) income | (29,012,607) | 9,182,078 | [2] | (82,295,631) | (33,537,909) | [2] |
Teucrium Soybean Fund [Member] | ||||||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||||||
Realized loss on commodity and cryptocurrency futures contracts | 311,294 | 977,658 | 270,814 | 10,675,505 | ||
Net change in unrealized appreciation (depreciation) on commodity and cryptocurrency futures contracts | (507,789) | (3,855,440) | (2,895,763) | (5,768,700) | ||
Interest income | 481,521 | 365,454 | 1,426,307 | 549,818 | ||
Total (loss) income | 285,026 | (2,512,328) | (1,198,642) | 5,456,623 | ||
Expenses | ||||||
Management fees | 91,704 | 176,250 | 293,109 | 513,916 | ||
Professional fees | 71,553 | 14,623 | 225,562 | 100,174 | ||
Distribution and marketing fees | 130,302 | 94,938 | 302,041 | 294,524 | ||
Custodian fees and expenses | 14,186 | 13,002 | 31,501 | 24,008 | ||
Business permits and licenses fees | 8,973 | 1,762 | 19,938 | 15,833 | ||
General and administrative expenses | 11,005 | 3,525 | 21,970 | 39,922 | ||
Total expenses | 327,723 | 304,100 | 894,121 | 988,377 | ||
Expenses waived by the Sponsor | 0 | 0 | 0 | (89,562) | ||
Total expenses, net | 327,723 | 304,100 | 894,121 | 898,815 | ||
Net (loss) income | $ (42,697) | $ (2,816,428) | $ (2,092,763) | $ 4,557,808 | ||
Net (loss) gain per share (in dollars per share) | $ (0.22) | $ (0.96) | $ (1.39) | $ 3.34 | ||
Net (loss) gain per weighted average share (in dollars per share) | $ (0.03) | $ (1.06) | $ (1.46) | $ 1.78 | ||
Weighted average shares outstanding (in shares) | 1,296,471 | 2,646,471 | 1,429,674 | 2,553,850 | ||
[1]The Fund commenced operations on September 15, 2022.[2]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Statements of Changes in Net _2
Statements of Changes in Net Assets (Unaudited) - Teucrium Soybean Fund - USD ($) | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | ||
Operations | |||
Net (loss) income | $ (82,295,631) | $ (33,537,909) | [1] |
Capital transactions | |||
Issuance of Shares | 140,135,089 | 1,216,204,797 | [1] |
Redemption of Shares | (198,374,229) | (726,634,292) | [1] |
Total capital transactions | (41,471,000) | 456,235,423 | [1] |
Net change in net assets | (123,766,631) | 422,697,514 | [1] |
Net assets, beginning of period | 465,375,598 | 264,276,768 | [1] |
Net assets, end of period | 341,608,967 | 686,974,282 | [1] |
Teucrium Soybean Fund [Member] | |||
Operations | |||
Net (loss) income | (2,092,763) | 4,557,808 | |
Capital transactions | |||
Issuance of Shares | 9,394,540 | 53,625,065 | |
Redemption of Shares | (34,555,367) | (35,911,520) | |
Total capital transactions | (25,160,827) | 17,713,545 | |
Net change in net assets | (27,253,590) | 22,271,353 | |
Net assets, beginning of period | 58,429,985 | 44,972,625 | |
Net assets, end of period | $ 31,176,395 | $ 67,243,978 | |
Net asset value per share at beginning of period (in dollars per share) | $ 28.5 | $ 22.77 | |
Net asset value per share at end of period (in dollars per share) | $ 27.11 | $ 26.11 | |
Creation of Shares (in shares) | 350,000 | 1,950,000 | |
Redemption of Shares (in shares) | 1,250,000 | 1,350,000 | |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Statements of Cash Flows (Una_2
Statements of Cash Flows (Unaudited) - Teucrium Soybean Fund - USD ($) | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | ||
Cash flows from operating activities: | |||
Net (loss) income | $ (82,295,631) | $ (33,537,909) | [1] |
Adjustments to reconcile net (loss) income to net cash (used in) operating activities: | |||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 2,677,343 | 15,553,587 | [1],[2] |
Changes in operating assets and liabilities: | |||
Due from broker | 17,682,300 | (59,977,726) | [1] |
Interest receivable | (211,372) | (401,291) | [1] |
Other assets | (34,583) | (1,568) | [1] |
Due to broker | 997,931 | (888,877) | [1] |
Management fee payable to Sponsor | (138,121) | 334,400 | [1] |
Other liabilities | 107,088 | (13,084) | [1] |
Net cash provided by (used in) operating activities | (61,215,045) | (78,932,468) | [1] |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 141,479,919 | 1,216,204,797 | [1] |
Redemption of Shares | (208,558,144) | (726,634,292) | [1] |
Net cash (used in) provided by financing activities | (50,310,085) | 456,235,423 | [1] |
Net change in cash and cash equivalents | (111,525,130) | 377,302,955 | [1] |
Cash and cash equivalents beginning of period | 434,062,296 | 252,211,943 | [1] |
Cash and cash equivalents end of period | 322,537,166 | 629,514,898 | [1] |
Teucrium Soybean Fund [Member] | |||
Cash flows from operating activities: | |||
Net (loss) income | (2,092,763) | 4,557,808 | |
Adjustments to reconcile net (loss) income to net cash (used in) operating activities: | |||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 2,895,763 | 5,768,700 | |
Changes in operating assets and liabilities: | |||
Due from broker | (1,095,281) | (5,445,820) | |
Interest receivable | 15,952 | (50,340) | |
Other assets | 403 | 0 | |
Due to broker | 0 | (675,169) | |
Management fee payable to Sponsor | (26,414) | 23,383 | |
Other liabilities | 30,635 | (10,261) | |
Net cash provided by (used in) operating activities | (271,705) | 4,168,301 | |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 9,394,540 | 53,625,065 | |
Redemption of Shares | (37,405,627) | (35,911,520) | |
Net cash (used in) provided by financing activities | (28,011,087) | 17,713,545 | |
Net change in cash and cash equivalents | (28,282,792) | 21,881,846 | |
Cash and cash equivalents beginning of period | 58,212,569 | 43,019,884 | |
Cash and cash equivalents end of period | $ 29,929,777 | $ 64,901,730 | |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022.[2]The Fund commenced operations on September 15, 2022. |
Statements of Assets and Liab_3
Statements of Assets and Liabilities (Current Period Unaudited) - Teucrium Sugar Fund - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and cash equivalents | $ 322,537,166 | $ 434,062,296 |
Interest receivable | 528,723 | 317,351 |
Other assets | 43,652 | 9,069 |
Equity in trading accounts: | ||
Commodity futures contracts | 2,020,707 | 8,207,381 |
Due from broker | 43,881,117 | 61,563,417 |
Total equity in trading accounts | 45,901,824 | 69,770,798 |
Total assets | 369,011,365 | 505,504,344 |
Liabilities | ||
Management fee payable to Sponsor | 294,761 | 432,882 |
Other liabilities | 185,968 | 78,880 |
Equity in trading accounts, liabilities: | ||
Due to broker | 997,931 | 0 |
Total equity in trading accounts | 26,921,669 | 29,433,069 |
Total liabilities | 27,402,398 | 40,128,746 |
Net Assets | 341,608,967 | 465,375,598 |
Teucrium Sugar Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 23,571,952 | 22,977,480 |
Interest receivable | 44,367 | 30,669 |
Other assets | 7,496 | 2,965 |
Equity in trading accounts: | ||
Commodity futures contracts | 1,866,449 | 911,329 |
Due from broker | 0 | 447,801 |
Total equity in trading accounts | 1,866,449 | 1,359,130 |
Total assets | 25,490,264 | 24,370,244 |
Liabilities | ||
Management fee payable to Sponsor | 19,642 | 20,912 |
Other liabilities | 14,007 | 1,845 |
Equity in trading accounts, liabilities: | ||
Commodity futures contracts | 107,186 | 85,128 |
Due to broker | 997,931 | 0 |
Total equity in trading accounts | 1,105,117 | 85,128 |
Total liabilities | 1,138,766 | 107,885 |
Net Assets | $ 24,351,498 | $ 24,262,359 |
Shares outstanding (in shares) | 1,650,004 | 2,550,004 |
Net asset value per share (in dollars per share) | $ 14.76 | $ 9.51 |
Market value per share (in dollars per share) | $ 14.78 | $ 9.53 |
Statements of Operations (Una_3
Statements of Operations (Unaudited) - Teucrium Sugar Fund - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||||||
Realized loss on commodity and cryptocurrency futures contracts | $ (42,896,164) | $ (103,278,313) | [1],[2] | $ (85,437,409) | $ (14,666,473) | [1] |
Net change in unrealized appreciation (depreciation) on commodity and cryptocurrency futures contracts | 11,792,810 | 112,241,847 | [1],[2] | (2,677,343) | (15,553,587) | [1],[2] |
Interest income | 4,636,897 | 3,411,665 | [2] | 13,164,733 | 5,411,206 | [2] |
Total (loss) income | (26,466,457) | 12,375,199 | [2] | (74,950,019) | (24,808,854) | |
Expenses | ||||||
Management fees | 890,028 | 1,666,788 | [2] | 2,729,807 | 5,121,250 | [2] |
Professional fees | 589,097 | 202,539 | [2] | 1,592,324 | 1,012,066 | [2] |
Distribution and marketing fees | 1,024,521 | 1,170,838 | [2] | 2,928,637 | 3,058,779 | [2] |
Custodian fees and expenses | 115,736 | 151,161 | [2] | 333,733 | 280,651 | [2] |
Business permits and licenses fees | 42,299 | 17,473 | [2] | 113,427 | 114,848 | [2] |
General and administrative expenses | 52,966 | 46,910 | [2] | 226,049 | 257,025 | [2] |
Total expenses | 2,714,655 | 3,255,730 | [2] | 7,923,985 | 9,844,645 | [2] |
Expenses waived by the Sponsor | (168,505) | (62,609) | [2] | (578,373) | (1,115,590) | [2] |
Total expenses, net | 2,546,150 | 3,193,121 | [2] | 7,345,612 | 8,729,055 | [2] |
Net (loss) income | (29,012,607) | 9,182,078 | [2] | (82,295,631) | (33,537,909) | [2] |
Teucrium Sugar Fund [Member] | ||||||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||||||
Realized loss on commodity and cryptocurrency futures contracts | 2,271,032 | (948,329) | 11,018,654 | (476,906) | ||
Net change in unrealized appreciation (depreciation) on commodity and cryptocurrency futures contracts | 934,750 | (1,014,429) | 933,062 | (2,281,371) | ||
Interest income | 304,744 | 149,944 | 1,007,430 | 222,434 | ||
Total (loss) income | 3,510,526 | (1,812,814) | 12,959,146 | (2,535,843) | ||
Expenses | ||||||
Management fees | 57,990 | 71,572 | 205,623 | 214,003 | ||
Professional fees | 61,655 | 8,123 | 207,709 | 49,908 | ||
Distribution and marketing fees | 67,563 | 41,123 | 166,254 | 133,178 | ||
Custodian fees and expenses | 5,799 | 5,101 | 18,037 | 10,335 | ||
Business permits and licenses fees | 3,479 | 1,088 | 14,600 | 26,099 | ||
General and administrative expenses | 2,900 | 2,863 | 13,304 | 19,391 | ||
Total expenses | 199,386 | 129,870 | 625,527 | 452,914 | ||
Expenses waived by the Sponsor | 0 | 0 | 0 | (78,237) | ||
Total expenses, net | 199,386 | 129,870 | 625,527 | 374,677 | ||
Net (loss) income | $ 3,311,140 | $ (1,942,684) | $ 12,333,619 | $ (2,910,520) | ||
Net (loss) gain per share (in dollars per share) | $ 2.06 | $ (0.59) | $ 5.24 | $ (0.5) | ||
Net (loss) gain per weighted average share (in dollars per share) | $ 1.98 | $ (0.61) | $ 5.5 | $ (0.95) | ||
Weighted average shares outstanding (in shares) | 1,672,558 | 3,159,243 | 2,241,121 | 3,077,751 | ||
[1]The Fund commenced operations on September 15, 2022.[2]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Statements of Changes in Net _3
Statements of Changes in Net Assets (Unaudited) - Teucrium Sugar Fund - USD ($) | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | ||
Operations | |||
Net (loss) income | $ (82,295,631) | $ (33,537,909) | [1] |
Capital transactions | |||
Issuance of Shares | 140,135,089 | 1,216,204,797 | [1] |
Redemption of Shares | (198,374,229) | (726,634,292) | [1] |
Total capital transactions | (41,471,000) | 456,235,423 | [1] |
Net change in net assets | (123,766,631) | 422,697,514 | [1] |
Net assets, beginning of period | 465,375,598 | 264,276,768 | [1] |
Net assets, end of period | 341,608,967 | 686,974,282 | [1] |
Teucrium Sugar Fund [Member] | |||
Operations | |||
Net (loss) income | 12,333,619 | (2,910,520) | |
Capital transactions | |||
Issuance of Shares | 18,605,025 | 26,012,883 | |
Redemption of Shares | (30,849,505) | (20,402,060) | |
Total capital transactions | (12,244,480) | 5,610,823 | |
Net change in net assets | 89,139 | 2,700,303 | |
Net assets, beginning of period | 24,262,359 | 22,834,664 | |
Net assets, end of period | $ 24,351,498 | $ 25,534,967 | |
Net asset value per share at beginning of period (in dollars per share) | $ 9.51 | $ 9.23 | |
Net asset value per share at end of period (in dollars per share) | $ 14.76 | $ 8.73 | |
Creation of Shares (in shares) | 1,525,000 | 2,675,000 | |
Redemption of Shares (in shares) | 2,425,000 | 2,225,000 | |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Statements of Cash Flows (Una_3
Statements of Cash Flows (Unaudited) - Teucrium Sugar Fund - USD ($) | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | ||
Cash flows from operating activities: | |||
Net (loss) income | $ (82,295,631) | $ (33,537,909) | [1] |
Adjustments to reconcile net (loss) income to net cash (used in) operating activities: | |||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 2,677,343 | 15,553,587 | [1],[2] |
Changes in operating assets and liabilities: | |||
Due from broker | 17,682,300 | (59,977,726) | [1] |
Interest receivable | (211,372) | (401,291) | [1] |
Other assets | (34,583) | (1,568) | [1] |
Due to broker | 997,931 | (888,877) | [1] |
Management fee payable to Sponsor | (138,121) | 334,400 | [1] |
Other liabilities | 107,088 | (13,084) | [1] |
Net cash provided by (used in) operating activities | (61,215,045) | (78,932,468) | [1] |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 141,479,919 | 1,216,204,797 | [1] |
Redemption of Shares | (208,558,144) | (726,634,292) | [1] |
Net cash (used in) provided by financing activities | (50,310,085) | 456,235,423 | [1] |
Net change in cash and cash equivalents | (111,525,130) | 377,302,955 | [1] |
Cash and cash equivalents beginning of period | 434,062,296 | 252,211,943 | [1] |
Cash and cash equivalents end of period | 322,537,166 | 629,514,898 | [1] |
Teucrium Sugar Fund [Member] | |||
Cash flows from operating activities: | |||
Net (loss) income | 12,333,619 | (2,910,520) | |
Adjustments to reconcile net (loss) income to net cash (used in) operating activities: | |||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | (933,062) | 2,281,371 | |
Changes in operating assets and liabilities: | |||
Due from broker | 447,801 | (2,203,710) | |
Interest receivable | (13,698) | (20,084) | |
Other assets | (4,531) | (396) | |
Due to broker | 997,931 | 0 | |
Management fee payable to Sponsor | (1,270) | 2,276 | |
Other liabilities | 12,162 | (7,470) | |
Net cash provided by (used in) operating activities | 12,838,952 | (2,858,533) | |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 18,605,025 | 26,012,883 | |
Redemption of Shares | (30,849,505) | (20,402,060) | |
Net cash (used in) provided by financing activities | (12,244,480) | 5,610,823 | |
Net change in cash and cash equivalents | 594,472 | 2,752,290 | |
Cash and cash equivalents beginning of period | 22,977,480 | 21,332,902 | |
Cash and cash equivalents end of period | $ 23,571,952 | $ 24,085,192 | |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022.[2]The Fund commenced operations on September 15, 2022. |
Statements of Assets and Liab_4
Statements of Assets and Liabilities (Current Period Unaudited) - Teucrium Wheat Fund - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and cash equivalents | $ 322,537,166 | $ 434,062,296 |
Interest receivable | 528,723 | 317,351 |
Other assets | 43,652 | 9,069 |
Equity in trading accounts: | ||
Commodity futures contracts | 2,020,707 | 8,207,381 |
Due from broker | 43,881,117 | 61,563,417 |
Total equity in trading accounts | 45,901,824 | 69,770,798 |
Total assets | 369,011,365 | 505,504,344 |
Liabilities | ||
Payable for shares redeemed | 0 | 10,183,915 |
Management fee payable to Sponsor | 294,761 | 432,882 |
Other liabilities | 185,968 | 78,880 |
Equity in trading accounts, liabilities: | ||
Total liabilities | 27,402,398 | 40,128,746 |
Net Assets | 341,608,967 | 465,375,598 |
Teucrium Wheat Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 182,536,744 | 209,730,825 |
Interest receivable | 286,705 | 92,540 |
Other assets | 778 | 3,468 |
Equity in trading accounts: | ||
Commodity futures contracts | 0 | 3,160,732 |
Due from broker | 34,559,991 | 48,610,031 |
Total equity in trading accounts | 34,559,991 | 51,770,763 |
Total assets | 217,384,218 | 261,597,596 |
Liabilities | ||
Payable for shares redeemed | 0 | 5,988,825 |
Management fee payable to Sponsor | 167,550 | 210,795 |
Other liabilities | 81,466 | 45,099 |
Equity in trading accounts, liabilities: | ||
Commodity futures contracts | 23,185,502 | 26,380,838 |
Total liabilities | 23,434,518 | 32,625,557 |
Net Assets | $ 193,949,700 | $ 228,972,039 |
Shares outstanding (in shares) | 34,825,004 | 28,675,004 |
Net asset value per share (in dollars per share) | $ 5.57 | $ 7.99 |
Market value per share (in dollars per share) | $ 5.57 | $ 7.98 |
Statements of Operations (Una_4
Statements of Operations (Unaudited) - Teucrium Wheat Fund - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||||||
Realized loss on commodity and cryptocurrency futures contracts | $ (42,896,164) | $ (103,278,313) | [1],[2] | $ (85,437,409) | $ (14,666,473) | [1] |
Net change in unrealized appreciation (depreciation) on commodity and cryptocurrency futures contracts | 11,792,810 | 112,241,847 | [1],[2] | (2,677,343) | (15,553,587) | [1],[2] |
Interest income | 4,636,897 | 3,411,665 | [2] | 13,164,733 | 5,411,206 | [2] |
Total (loss) income | (26,466,457) | 12,375,199 | [2] | (74,950,019) | (24,808,854) | |
Expenses | ||||||
Management fees | 890,028 | 1,666,788 | [2] | 2,729,807 | 5,121,250 | [2] |
Professional fees | 589,097 | 202,539 | [2] | 1,592,324 | 1,012,066 | [2] |
Distribution and marketing fees | 1,024,521 | 1,170,838 | [2] | 2,928,637 | 3,058,779 | [2] |
Custodian fees and expenses | 115,736 | 151,161 | [2] | 333,733 | 280,651 | [2] |
Business permits and licenses fees | 42,299 | 17,473 | [2] | 113,427 | 114,848 | [2] |
General and administrative expenses | 52,966 | 46,910 | [2] | 226,049 | 257,025 | [2] |
Total expenses | 2,714,655 | 3,255,730 | [2] | 7,923,985 | 9,844,645 | [2] |
Expenses waived by the Sponsor | (168,505) | (62,609) | [2] | (578,373) | (1,115,590) | [2] |
Total expenses, net | 2,546,150 | 3,193,121 | [2] | 7,345,612 | 8,729,055 | [2] |
Net (loss) income | (29,012,607) | 9,182,078 | [2] | (82,295,631) | (33,537,909) | [2] |
Teucrium Wheat Fund [Member] | ||||||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||||||
Realized loss on commodity and cryptocurrency futures contracts | (32,283,536) | (92,957,415) | (72,771,330) | (53,537,910) | ||
Net change in unrealized appreciation (depreciation) on commodity and cryptocurrency futures contracts | 166,327 | 93,269,812 | 34,604 | (3,790,712) | ||
Interest income | 2,538,278 | 1,807,040 | 6,660,873 | 2,931,373 | ||
Total (loss) income | (29,578,931) | 2,119,437 | (66,075,853) | (54,397,249) | ||
Expenses | ||||||
Management fees | 489,455 | 892,696 | 1,387,465 | 2,764,259 | ||
Professional fees | 223,818 | 116,706 | 474,219 | 486,917 | ||
Distribution and marketing fees | 504,760 | 675,323 | 1,524,159 | 1,562,788 | ||
Custodian fees and expenses | 56,664 | 83,198 | 173,789 | 156,575 | ||
Business permits and licenses fees | 14,683 | 6,024 | 27,831 | 32,738 | ||
General and administrative expenses | 24,473 | 26,299 | 116,608 | 89,344 | ||
Total expenses | 1,313,853 | 1,800,246 | 3,704,071 | 5,092,621 | ||
Expenses waived by the Sponsor | 0 | 0 | 0 | (425,164) | ||
Total expenses, net | 1,313,853 | 1,800,246 | 3,704,071 | 4,667,457 | ||
Net (loss) income | $ (30,892,784) | $ 319,191 | $ (69,779,924) | $ (59,064,706) | ||
Net (loss) gain per share (in dollars per share) | $ (0.89) | $ 0.13 | $ (2.42) | $ 1.78 | ||
Net (loss) gain per weighted average share (in dollars per share) | $ (1) | $ 0.01 | $ (2.53) | $ (1.55) | ||
Weighted average shares outstanding (in shares) | 30,905,167 | 41,945,384 | 27,538,649 | 38,111,726 | ||
[1]The Fund commenced operations on September 15, 2022.[2]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Statements of Changes in Net _4
Statements of Changes in Net Assets (Unaudited) - Teucrium Wheat Fund - USD ($) | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | ||
Operations | |||
Net (loss) income | $ (82,295,631) | $ (33,537,909) | [1] |
Capital transactions | |||
Issuance of Shares | 140,135,089 | 1,216,204,797 | [1] |
Redemption of Shares | (198,374,229) | (726,634,292) | [1] |
Total capital transactions | (41,471,000) | 456,235,423 | [1] |
Net change in net assets | (123,766,631) | 422,697,514 | [1] |
Net assets, beginning of period | 465,375,598 | 264,276,768 | [1] |
Net assets, end of period | 341,608,967 | 686,974,282 | [1] |
Teucrium Wheat Fund [Member] | |||
Operations | |||
Net (loss) income | (69,779,924) | (59,064,706) | |
Capital transactions | |||
Issuance of Shares | 92,347,622 | 885,427,575 | |
Redemption of Shares | (57,590,037) | (523,995,485) | |
Total capital transactions | 34,757,585 | 361,432,090 | |
Net change in net assets | (35,022,339) | 302,367,384 | |
Net assets, beginning of period | 228,972,039 | 75,621,587 | |
Net assets, end of period | $ 193,949,700 | $ 377,988,971 | |
Net asset value per share at beginning of period (in dollars per share) | $ 7.99 | $ 7.38 | |
Net asset value per share at end of period (in dollars per share) | $ 5.57 | $ 9.16 | |
Creation of Shares (in shares) | 14,200,000 | 84,050,000 | |
Redemption of Shares (in shares) | 8,050,000 | 53,050,000 | |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Statements of Cash Flows (Una_4
Statements of Cash Flows (Unaudited) - Teucrium Wheat Fund - USD ($) | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | ||
Cash flows from operating activities: | |||
Net (loss) income | $ (82,295,631) | $ (33,537,909) | [1] |
Adjustments to reconcile net (loss) income to net cash (used in) operating activities: | |||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 2,677,343 | 15,553,587 | [1],[2] |
Changes in operating assets and liabilities: | |||
Due from broker | 17,682,300 | (59,977,726) | [1] |
Interest receivable | (211,372) | (401,291) | [1] |
Other assets | (34,583) | (1,568) | [1] |
Due to broker | 997,931 | (888,877) | [1] |
Management fee payable to Sponsor | (138,121) | 334,400 | [1] |
Other liabilities | 107,088 | (13,084) | [1] |
Net cash provided by (used in) operating activities | (61,215,045) | (78,932,468) | [1] |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 141,479,919 | 1,216,204,797 | [1] |
Redemption of Shares | (208,558,144) | (726,634,292) | [1] |
Net cash (used in) provided by financing activities | (50,310,085) | 456,235,423 | [1] |
Net change in cash and cash equivalents | (111,525,130) | 377,302,955 | [1] |
Cash and cash equivalents beginning of period | 434,062,296 | 252,211,943 | [1] |
Cash and cash equivalents end of period | 322,537,166 | 629,514,898 | [1] |
Teucrium Wheat Fund [Member] | |||
Cash flows from operating activities: | |||
Net (loss) income | (69,779,924) | (59,064,706) | |
Adjustments to reconcile net (loss) income to net cash (used in) operating activities: | |||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | (34,604) | 3,790,712 | |
Changes in operating assets and liabilities: | |||
Due from broker | 14,050,040 | (36,616,154) | |
Interest receivable | (194,165) | (204,311) | |
Other assets | 2,690 | (580) | |
Due to broker | 0 | (213,708) | |
Management fee payable to Sponsor | (43,245) | 233,446 | |
Other liabilities | 36,367 | 46,379 | |
Net cash provided by (used in) operating activities | (55,962,841) | (92,028,922) | |
Cash flows from financing activities: | |||
Proceeds from sale of Shares | 92,347,622 | 885,427,575 | |
Redemption of Shares | (63,578,862) | (523,995,485) | |
Net cash (used in) provided by financing activities | 28,768,760 | 361,432,090 | |
Net change in cash and cash equivalents | (27,194,081) | 269,403,168 | |
Cash and cash equivalents beginning of period | 209,730,825 | 72,841,616 | |
Cash and cash equivalents end of period | $ 182,536,744 | $ 342,244,784 | |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022.[2]The Fund commenced operations on September 15, 2022. |
Statements of Assets and Liab_5
Statements of Assets and Liabilities (Current Period Unaudited) - Teucrium Agricultural Fund - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and cash equivalents | $ 322,537,166 | $ 434,062,296 |
Interest receivable | 528,723 | 317,351 |
Other assets | 43,652 | 9,069 |
Equity in trading accounts: | ||
Total assets | 369,011,365 | 505,504,344 |
Liabilities | ||
Other liabilities | 185,968 | 78,880 |
Net Assets | 341,608,967 | 465,375,598 |
Teucrium Agricultural Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 10,159 | 4,716 |
Interest receivable | 48 | 32 |
Other assets | 2,390 | 622 |
Equity in trading accounts: | ||
Investments in securities, at fair value (cost $22,841,003 and $39,425,287 as of September 30, 2023 and December 31, 2022, respectively) | 21,975,907 | 39,572,698 |
Total assets | 21,988,504 | 39,578,068 |
Liabilities | ||
Other liabilities | 1,729 | 2,823 |
Net Assets | $ 21,986,775 | $ 39,575,245 |
Shares outstanding (in shares) | 725,002 | 1,262,502 |
Net asset value per share (in dollars per share) | $ 30.33 | $ 31.35 |
Market value per share (in dollars per share) | $ 30.33 | $ 31.32 |
Statements of Assets and Liab_6
Statements of Assets and Liabilities (Current Period Unaudited) - Teucrium Agricultural Fund (Parentheticals) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Teucrium Agricultural Fund [Member] | ||
Investments, at cost | $ 22,841,003 | $ 39,425,287 |
Statements of Operations (Una_5
Statements of Operations (Unaudited) - Teucrium Agricultural Fund - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||||||
Net change in unrealized appreciation (depreciation) on commodity and cryptocurrency futures contracts | $ 11,792,810 | $ 112,241,847 | [1],[2] | $ (2,677,343) | $ (15,553,587) | [1],[2] |
Interest income | 4,636,897 | 3,411,665 | [2] | 13,164,733 | 5,411,206 | [2] |
Total (loss) income | (26,466,457) | 12,375,199 | [2] | (74,950,019) | (24,808,854) | |
Expenses | ||||||
Professional fees | 589,097 | 202,539 | [2] | 1,592,324 | 1,012,066 | [2] |
Distribution and marketing fees | 1,024,521 | 1,170,838 | [2] | 2,928,637 | 3,058,779 | [2] |
Custodian fees and expenses | 115,736 | 151,161 | [2] | 333,733 | 280,651 | [2] |
Business permits and licenses fees | 42,299 | 17,473 | [2] | 113,427 | 114,848 | [2] |
General and administrative expenses | 52,966 | 46,910 | [2] | 226,049 | 257,025 | [2] |
Other expenses | 8 | 21 | [2] | 8 | 26 | [2] |
Total expenses | 2,714,655 | 3,255,730 | [2] | 7,923,985 | 9,844,645 | [2] |
Expenses waived by the Sponsor | (168,505) | (62,609) | [2] | (578,373) | (1,115,590) | [2] |
Total expenses, net | 2,546,150 | 3,193,121 | [2] | 7,345,612 | 8,729,055 | [2] |
Net (loss) income | (29,012,607) | 9,182,078 | [2] | (82,295,631) | (33,537,909) | [2] |
Teucrium Agricultural Fund [Member] | ||||||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||||||
Realized gain (loss) on securities | 27,457 | (172,369) | 183,856 | 489,743 | ||
Net change in unrealized appreciation (depreciation) on commodity and cryptocurrency futures contracts | 5,075 | 179,600 | (1,012,507) | (1,786,575) | ||
Interest income | 149 | 302 | 421 | 352 | ||
Total (loss) income | 32,681 | 7,533 | (828,230) | (1,296,480) | ||
Expenses | ||||||
Professional fees | 34,565 | 14,817 | 186,614 | 44,710 | ||
Distribution and marketing fees | 40,140 | 51,970 | 142,674 | 134,119 | ||
Custodian fees and expenses | 3,942 | 7,455 | 19,341 | 12,324 | ||
Business permits and licenses fees | 1,805 | 1,000 | 12,240 | 11,721 | ||
General and administrative expenses | 2,248 | 2,026 | 15,124 | 9,987 | ||
Other expenses | 8 | 21 | 8 | 26 | ||
Total expenses | 82,708 | 77,289 | 376,001 | 212,887 | ||
Expenses waived by the Sponsor | (77,482) | (62,059) | (355,731) | (176,222) | ||
Total expenses, net | 5,226 | 15,230 | 20,270 | 36,665 | ||
Net (loss) income | $ 27,455 | $ (7,697) | $ (848,500) | $ (1,333,145) | ||
Net (loss) gain per share (in dollars per share) | $ 0 | $ (0.02) | $ (1.02) | $ 4.06 | ||
Net (loss) gain per weighted average share (in dollars per share) | $ 0.04 | $ (0.01) | $ (0.87) | $ (1.19) | ||
Weighted average shares outstanding (in shares) | 739,540 | 1,537,230 | 972,896 | 1,120,973 | ||
[1]The Fund commenced operations on September 15, 2022.[2]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Statements of Changes in Net _5
Statements of Changes in Net Assets (Unaudited) - Teucrium Agricultural Fund - USD ($) | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | ||
Operations | |||
Net (loss) income | $ (82,295,631) | $ (33,537,909) | [1] |
Capital transactions | |||
Issuance of Shares | 140,135,089 | 1,216,204,797 | [1] |
Redemption of Shares | (198,374,229) | (726,634,292) | [1] |
Total capital transactions | (41,471,000) | 456,235,423 | [1] |
Net change in net assets | (123,766,631) | 422,697,514 | [1] |
Net assets, beginning of period | 465,375,598 | 264,276,768 | [1] |
Net assets, end of period | 341,608,967 | 686,974,282 | [1] |
Teucrium Agricultural Fund [Member] | |||
Operations | |||
Net (loss) income | (848,500) | (1,333,145) | |
Capital transactions | |||
Issuance of Shares | 0 | 45,566,391 | |
Redemption of Shares | (16,739,970) | (12,193,184) | |
Total capital transactions | (16,739,970) | 33,373,207 | |
Net change in net assets | (17,588,470) | 32,040,062 | |
Net assets, beginning of period | 39,575,245 | 14,179,655 | |
Net assets, end of period | $ 21,986,775 | $ 46,219,717 | |
Net asset value per share at beginning of period (in dollars per share) | $ 31.35 | $ 27.01 | |
Net asset value per share at end of period (in dollars per share) | $ 30.33 | $ 31.07 | |
Creation of Shares (in shares) | 0 | 1,362,500 | |
Redemption of Shares (in shares) | 537,500 | 400,000 | |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Statements of Cash Flows (Una_5
Statements of Cash Flows (Unaudited) - Teucrium Agricultural Fund - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Cash flows from operating activities: | ||||||
Net (loss) income | $ (29,012,607) | $ 9,182,078 | [1] | $ (82,295,631) | $ (33,537,909) | [1] |
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | ||||||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | (11,792,810) | (112,241,847) | [1],[2] | 2,677,343 | 15,553,587 | [1],[2] |
Changes in operating assets and liabilities: | ||||||
Interest receivable | (211,372) | (401,291) | [1] | |||
Other assets | (34,583) | (1,568) | [1] | |||
Other liabilities | 107,088 | (13,084) | [1] | |||
Net cash provided by (used in) operating activities | (61,215,045) | (78,932,468) | [1] | |||
Cash flows from financing activities: | ||||||
Proceeds from sale of Shares | 141,479,919 | 1,216,204,797 | [1] | |||
Redemption of Shares | (208,558,144) | (726,634,292) | [1] | |||
Net cash (used in) provided by financing activities | (50,310,085) | 456,235,423 | [1] | |||
Net change in cash and cash equivalents | (111,525,130) | 377,302,955 | [1] | |||
Cash and cash equivalents beginning of period | 434,062,296 | 252,211,943 | [1] | |||
Cash and cash equivalents end of period | 322,537,166 | 629,514,898 | [1] | 322,537,166 | 629,514,898 | [1] |
Teucrium Agricultural Fund [Member] | ||||||
Cash flows from operating activities: | ||||||
Net (loss) income | 27,455 | (7,697) | (848,500) | (1,333,145) | ||
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | ||||||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | (5,075) | (179,600) | 1,012,507 | 1,786,575 | ||
Changes in operating assets and liabilities: | ||||||
Net sale (purchase) of investments in securities | 16,584,284 | (33,824,825) | ||||
Interest receivable | (16) | (17) | ||||
Other assets | (1,768) | (592) | ||||
Other liabilities | (1,094) | 413 | ||||
Net cash provided by (used in) operating activities | 16,745,413 | (33,371,591) | ||||
Cash flows from financing activities: | ||||||
Proceeds from sale of Shares | 0 | 45,566,391 | ||||
Redemption of Shares | (16,739,970) | (12,193,184) | ||||
Net cash (used in) provided by financing activities | (16,739,970) | 33,373,207 | ||||
Net change in cash and cash equivalents | 5,443 | 1,616 | ||||
Cash and cash equivalents beginning of period | 4,716 | 4,801 | ||||
Cash and cash equivalents end of period | $ 10,159 | $ 6,417 | $ 10,159 | $ 6,417 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022.[2]The Fund commenced operations on September 15, 2022. |
Statements of Assets and Liab_7
Statements of Assets and Liabilities (Current Period Unaudited) - Hashdex Bitcoin Futures ETF - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and cash equivalents | $ 322,537,166 | $ 434,062,296 |
Interest receivable | 528,723 | 317,351 |
Equity in trading accounts: | ||
Due from broker | 43,881,117 | 61,563,417 |
Total equity in trading accounts | 45,901,824 | 69,770,798 |
Total assets | 369,011,365 | 505,504,344 |
Liabilities | ||
Management fee payable to Sponsor | 294,761 | 432,882 |
Net Assets | 341,608,967 | 465,375,598 |
Hashdex Bitcoin Futures ETF [Member] | ||
Assets | ||
Cash and cash equivalents | 1,181,822 | 701,969 |
Interest receivable | 6,173 | 2,961 |
Equity in trading accounts: | ||
Cryptocurrency futures contracts | 19,483 | 29,152 |
Due from broker | 465,918 | 337,049 |
Total equity in trading accounts | 485,401 | 366,201 |
Total assets | 1,673,396 | 1,071,131 |
Liabilities | ||
Management fee payable to Sponsor | 1,266 | 868 |
Net Assets | $ 1,672,130 | $ 1,070,263 |
Shares outstanding (in shares) | 50,004 | 50,004 |
Net asset value per share (in dollars per share) | $ 33.44 | $ 21.4 |
Market value per share (in dollars per share) | $ 33.49 | $ 21.39 |
Statements of Operations (Una_6
Statements of Operations (Unaudited) - Hashdex Bitcoin Futures ETF - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended |
Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2023 | |
Realized and unrealized gain (loss) on trading of commodity futures contracts: | |||
Realized loss on commodity and cryptocurrency futures contracts | $ (42,896,164) | $ (85,437,409) | |
Net change in unrealized appreciation (depreciation) on commodity and cryptocurrency futures contracts | 11,792,810 | (2,677,343) | |
Interest income | 4,636,897 | 13,164,733 | |
Total (loss) income | (26,466,457) | (74,950,019) | |
Expenses | |||
Management fees | 890,028 | 2,729,807 | |
Professional fees | 589,097 | 1,592,324 | |
Distribution and marketing fees | 1,024,521 | 2,928,637 | |
Custodian fees and expenses | 115,736 | 333,733 | |
Business permits and licenses fees | 42,299 | 113,427 | |
General and administrative expenses | 52,966 | 226,049 | |
Total expenses | 2,714,655 | 7,923,985 | |
Expenses waived by the Sponsor | (168,505) | (578,373) | |
Total expenses, net | 2,546,150 | 7,345,612 | |
Net (loss) income | (29,012,607) | (82,295,631) | |
Hashdex Bitcoin Futures ETF [Member] | |||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | |||
Realized loss on commodity and cryptocurrency futures contracts | $ (5,942) | (176,608) | 524,179 |
Net change in unrealized appreciation (depreciation) on commodity and cryptocurrency futures contracts | (14,372) | (107,189) | (9,669) |
Interest income | 1,073 | 21,202 | 56,099 |
Total (loss) income | (19,241) | (262,595) | 570,609 |
Expenses | |||
Management fees | 377 | 4,204 | 12,491 |
Professional fees | 0 | 87,536 | 196,640 |
Distribution and marketing fees | 0 | 1,845 | 6,586 |
Custodian fees and expenses | 0 | 610 | 1,727 |
Business permits and licenses fees | 550 | 1,026 | 17,187 |
General and administrative expenses | 0 | 6 | 502 |
Total expenses | 927 | 95,227 | 235,133 |
Expenses waived by the Sponsor | (550) | (91,023) | (222,642) |
Total expenses, net | 377 | 4,204 | 12,491 |
Net (loss) income | $ (19,618) | $ (266,799) | $ 558,118 |
Net (loss) gain per share (in dollars per share) | $ (0.39) | $ (5.34) | $ 12.04 |
Net (loss) gain per weighted average share (in dollars per share) | $ (0.49) | $ (5.34) | $ 10.57 |
Weighted average shares outstanding (in shares) | 40,003 | 50,004 | 52,825 |
Statements of Changes in Net _6
Statements of Changes in Net Assets (Unaudited) - Hashdex Bitcoin Futures ETF - USD ($) | 1 Months Ended | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2023 | ||
Operations | |||
Net (loss) income | $ (82,295,631) | ||
Capital transactions | |||
Issuance of Shares | 140,135,089 | ||
Redemption of Shares | (198,374,229) | ||
Total capital transactions | (41,471,000) | ||
Net change in net assets | (123,766,631) | ||
Net assets, beginning of period | 465,375,598 | ||
Net assets, end of period | $ 686,974,282 | [1] | 341,608,967 |
Hashdex Bitcoin Futures ETF [Member] | |||
Operations | |||
Net (loss) income | (19,618) | 558,118 | |
Capital transactions | |||
Issuance of Shares | 1,250,100 | 367,689 | |
Redemption of Shares | 0 | (323,940) | |
Total capital transactions | 1,250,100 | 43,749 | |
Net change in net assets | 1,230,482 | 601,867 | |
Net assets, beginning of period | 0 | 1,070,263 | |
Net assets, end of period | $ 1,230,482 | $ 1,672,130 | |
Net asset value per share at beginning of period (in dollars per share) | $ 25 | $ 21.4 | |
Net asset value per share at end of period (in dollars per share) | $ 24.61 | $ 33.44 | |
Creation of Shares (in shares) | 50,004 | 10,000 | |
Redemption of Shares (in shares) | 0 | 10,000 | |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Statements of Cash Flows (Una_6
Statements of Cash Flows (Unaudited) - Hashdex Bitcoin Futures ETF - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | ||||
Cash flows from operating activities: | ||||||||
Net (loss) income | $ (29,012,607) | $ 9,182,078 | [1] | $ (82,295,631) | $ (33,537,909) | [1] | ||
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | ||||||||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | (11,792,810) | (112,241,847) | [1],[2] | 2,677,343 | 15,553,587 | [1],[2] | ||
Changes in operating assets and liabilities: | ||||||||
Due from broker | 17,682,300 | (59,977,726) | [1] | |||||
Interest receivable | (211,372) | (401,291) | [1] | |||||
Management fee payable to Sponsor | (138,121) | 334,400 | [1] | |||||
Net cash provided by (used in) operating activities | (61,215,045) | (78,932,468) | [1] | |||||
Cash flows from financing activities: | ||||||||
Proceeds from sale of Shares | 141,479,919 | 1,216,204,797 | [1] | |||||
Redemption of Shares | (208,558,144) | (726,634,292) | [1] | |||||
Net cash (used in) provided by financing activities | (50,310,085) | 456,235,423 | [1] | |||||
Net change in cash and cash equivalents | (111,525,130) | 377,302,955 | [1] | |||||
Cash and cash equivalents beginning of period | 434,062,296 | 252,211,943 | [1] | |||||
Cash and cash equivalents end of period | $ 629,514,898 | [1] | 322,537,166 | 629,514,898 | [1] | 322,537,166 | 629,514,898 | [1] |
Hashdex Bitcoin Futures ETF [Member] | ||||||||
Cash flows from operating activities: | ||||||||
Net (loss) income | (19,618) | (266,799) | 558,118 | |||||
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | ||||||||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 14,372 | 107,189 | 9,669 | |||||
Changes in operating assets and liabilities: | ||||||||
Due from broker | (349,160) | (128,869) | ||||||
Interest receivable | (1,073) | (3,212) | ||||||
Management fee payable to Sponsor | 377 | 398 | ||||||
Net cash provided by (used in) operating activities | (355,102) | 436,104 | ||||||
Cash flows from financing activities: | ||||||||
Proceeds from sale of Shares | 1,250,100 | 367,689 | ||||||
Redemption of Shares | 0 | (323,940) | ||||||
Net cash (used in) provided by financing activities | 1,250,100 | 43,749 | ||||||
Net change in cash and cash equivalents | 894,998 | 479,853 | ||||||
Cash and cash equivalents beginning of period | 0 | 701,969 | ||||||
Cash and cash equivalents end of period | $ 894,998 | $ 1,181,822 | $ 894,998 | $ 1,181,822 | $ 894,998 | |||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022.[2]The Fund commenced operations on September 15, 2022. |
Combined Schedule of Investment
Combined Schedule of Investments (Unaudited) | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS September 30, 2023 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 70,144,326 $ 70,144,326 20.53 % 70,144,326 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 77,776,959 77,776,959 22.77 77,776,959 Total money market funds $ 147,921,285 $ 147,921,285 43.30 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 4,956,994 $ 4,992,180 1.46 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % 3,967,700 3,993,666 1.17 4,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 4,952,500 4,981,792 1.46 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 4,938,250 4,948,542 1.45 5,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 9,873,444 9,997,022 2.93 10,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 4,933,250 4,982,000 1.46 5,000,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 1.46 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 0.73 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 4,940,626 4,998,416 1.46 5,000,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 0.70 2,400,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 7,434,201 7,496,475 2.19 7,500,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 4,957,222 4,972,000 1.46 5,000,000 Hyundai Capital America November 13, 2023 5.509 % 7,405,500 7,451,625 2.18 7,500,000 Jabil Inc. October 13, 2023 5.793 % 14,945,375 14,971,500 4.38 15,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 1.46 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 9,937,932 9,986,700 2.92 10,000,000 National Fuel Gas Company October 17, 2023 5.754 % 9,954,406 9,974,845 2.92 10,000,000 National Fuel Gas Company October 19, 2023 5.755 % 7,463,445 7,478,775 2.19 7,500,000 V.F. Corporation November 13, 2023 5.497 % 4,958,750 4,967,750 1.45 5,000,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 1.45 5,000,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 9,908,335 9,950,147 2.91 10,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 9,861,057 9,903,064 2.90 10,000,000 Total Commercial Paper $ 145,108,778 $ 145,852,514 42.69 % Total Cash Equivalents $ 293,773,799 85.99 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.04 % $ 10,809,075 United States sugar futures contracts ICE sugar futures MAY24 301 993,509 0.29 8,515,651 ICE sugar futures MAR25 321 872,940 0.26 8,552,981 United States CME Bitcoin futures contracts CME Bitcoin futures OCT23 6 2,464 0.00 813,000 CME Bitcoin futures NOV23 6 17,019 0.00 818,250 Total commodity and cryptocurrency futures contracts $ 2,020,707 0.59 % $ 29,508,957 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 MAR 24 1,286 $ 1,365,651 0.40 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.06 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.16 31,652,400 United States soybean futures contracts CBOT soybean futures MAR24 142 465,562 0.14 9,302,775 CBOT soybean futures NOV24 176 44,606 0.01 11,088,000 United States sugar futures contracts ICE sugar futures JUL24 268 107,186 0.03 7,293,888 0.00 United States wheat futures contracts CBOT wheat futures MAR24 2,329 11,184,967 3.27 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 1.29 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 2.22 69,309,250 Total commodity and cryptocurrency futures contracts $ 25,923,738 7.58 % $ 311,956,976 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 5,670,302 1.66 % 257,033 Teucrium Soybean Fund 5,503,425 1.61 203,005 Teucrium Sugar Fund 5,479,366 1.60 371,271 Teucrium Wheat Fund 5,322,814 1.56 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 6.43 % *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 other four The accompanying notes are an integral part of these financial statements. TEUCRIUM COMMODITY TRUST 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. |
Note 1 - Organization and Opera
Note 1 - Organization and Operation | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009, six April 29, 2019, On June 7, 2010, 1 June 8, 2010, four June 9, 2010. April 7, 2022. On June 13, 2011, 1 September 16, 2011, two $2,500,000 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 accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC in its capacity as the Sponsor of the Trust may no |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation 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 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, four June 9, 2010. April 7, 2022. The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. 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 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, two September 19, 2011, April 7, 2022. The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. 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 Organization and Operation 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 SOYB Benchmark CBOT Soybean 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, two September 19, 2011, April 7, 2022. The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. 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 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, S1 September 19, 2011, September 19, 2011 December 31, 2010, four March 9, 2022. The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. 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 Organization and Operation 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, two 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 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 the 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 The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. 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 16, 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 two one DEFI Benchmark CME Bitcoin Futures Contracts Weighting First to expire 50 % Second to expire 50 % The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor (“Sponsor”), may no |
Note 2 - Principal Contracts an
Note 2 - Principal Contracts and Agreements | 9 Months Ended |
Sep. 30, 2023 | |
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. 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 each Fund’s average daily net assets and an aggregate annual fee of $100,000 for all 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 as distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below. 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 $3.00 per round turn exclusive of pass-through fees for the exchange and the NFA. 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 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 combined statements of operations. A summary of these expenses is included below: Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 115,736 $ 151,161 $ 333,733 $ 280,651 Amount of Custody Services Waived $ 3,360 $ 7,455 $ 19,876 $ 35,556 Amount Recognized for Distribution Services $ 35,012 $ 53,835 $ 111,505 $ 147,890 Amount of Distribution Services Waived $ 1,835 $ 2,739 $ 6,771 $ 45,733 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 171 $ 550 $ 171 $ 550 Amount Recognized for Thales $ 54,612 $ 54,755 $ 92,190 $ 212,879 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 103,396 ( 1 September 15, 2022. |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2023 | |
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 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. The periods represented by the financial statements herein contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI for the months during which each Fund was in operation, except for eliminations for TAGS as explained below. Given the investment objective of TAGS as described in Note 1 four 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. Unrealized appreciation or depreciation on commodity and cryptocurrency futures contracts are reflected in the combined statements of operations as the difference between the original contract 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 combined statements of operations. Interest on cash equivalents with financial institutions are recognized on an accrual basis. The Funds 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 combined financial statements and reflected in cash and cash equivalents on the combined statements of assets and liabilities and on the combined 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 combined 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 combined 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 combined statements of operations as total brokerage commissions paid inclusive of unrealized loss for the three nine September 30, 2023 2022 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ 23,697 $ 2,220 $ 3,707 $ 40,896 $ - $ 593 $ 71,113 Three months ended September 30, 2022 (1) $ 54,746 $ 6,432 $ 5,436 $ 75,136 $ - $ 949 $ 142,699 Nine months ended September 30, 2023 $ 54,865 $ 10,999 $ 19,661 $ 85,354 $ - $ 1,970 $ 172,849 Nine months ended September 30, 2022 (1) $ 188,321 $ 21,638 $ 31,972 $ 354,679 $ - $ 949 $ 597,559 ( 1 September 15, 2022. 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 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 may 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 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 as of and for the three nine September 30, 2023 2022 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. If a Fund experienced redemptions that caused the number of Shares outstanding to decrease to the minimum level of Shares required to be outstanding, until the minimum number of Shares is again exceeded through the purchase of a new Creation Basket, 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 September 30, 2023 December 31, 2022 Money Market Funds $ 147,921,285 $ 188,640,417 Demand Deposit Savings Accounts 28,763,367 46,061,819 Commercial Paper 145,852,514 199,360,060 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 322,537,166 $ 434,062,296 Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement 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 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. 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 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 may not In addition, the Agricultural Funds, except for TAGS, which has no 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, the Financial Industry Regulatory Authority (“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. Each 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 not 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 Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Recognized Related Party Transactions $ 566,723 $ 638,361 $ 1,889,702 $ 2,055,991 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 498,171 ( 1 September 15, 2022. 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 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 ( 1 September 15, 2022. 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 amounts 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 September 30, 2023 December 31, 2022 no For the three nine September 30, 2023 December 31, 2022 not 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”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Teucrium Corn 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. Unrealized appreciation or depreciation on commodity futures contracts are reflected in the statements of operations as the difference between the original contract 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. The Fund seeks to earn interest on its assets denominated in U.S. dollars on deposits 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 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 for the three nine September 30, 2023 2022 CORN Three months ended September 30, 2023 $ 23,697 Three months ended September 30, 2022 $ 54,746 Nine months ended September 30, 2023 $ 54,865 Nine months ended September 30, 2022 $ 188,321 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 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 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 three nine September 30, 2023 2022 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 two 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 maturity dates of 90 not may, 90 not may not September 30, 2023 December 31, 2022 Money Market Funds $ 30,418,637 $ 52,555,915 Demand Deposit Savings Accounts 10,157,951 25,538,663 Commercial Paper 44,730,124 64,340,159 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 85,306,712 $ 142,434,737 Payable for Purchases of Commercial Paper The amount recorded by the Fund for commercial paper transactions awaiting settlement, 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 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, 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 Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not not Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 153,884 $ 170,070 $ 505,154 $ 652,887 Waived Related Party Transactions $ - $ - $ - $ 149,721 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 CORN Three months ended September 30, 2023 $ - Three months ended September 30, 2022 $ - Nine months ended September 30, 2023 $ - Nine months ended September 30, 2022 $ 345,855 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 not 1 2 3 On September 30, 2023 December 31, 2022 no 1 2 For the three nine September 30, 2023 December 31, 2022 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 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. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Teucrium Soybean 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. Unrealized appreciation or depreciation on commodity futures contracts are reflected in the statements of operations as the difference between the original contract 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. The Fund seeks to earn interest on its assets denominated in U.S. dollars on deposits with the Futures Commission Merchant. In addition, 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 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 for the three nine September 30, 2023 2022 SOYB Three months ended September 30, 2023 $ 2,220 Three months ended September 30, 2022 $ 6,432 Nine months ended September 30, 2023 $ 10,999 Nine months ended September 30, 2022 $ 21,638 Income Taxes 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 Fund is required to determine whether a tax position is more likely than not may 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 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 three nine September 30, 2023 2022 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 two 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 maturity dates of 90 not may, 90 not may not September 30, 2023 December 31, 2022 Money Market Funds $ 7,646,258 $ 25,631,042 Demand Deposit Savings Accounts 5,327,990 5,143,495 Commercial Paper 16,955,529 27,438,032 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 29,929,777 $ 58,212,569 Payable for Purchases of Commercial Paper The amount recorded by the Fund for commercial paper transactions awaiting settlement, 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 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 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 Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not not Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 59,564 $ 53,104 $ 185,249 $ 205,250 Waived Related Party Transactions $ - $ - $ - $ 32,056 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 SOYB Three months ended September 30, 2023 $ - Three months ended September 30, 2022 $ - Nine months ended September 30, 2023 $ - Nine months ended September 30, 2022 $ 89,562 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 September 30, 2023 December 31, 2022 no 1 2 For the three nine September 30, 2023 December 31, 2022 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”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Teucrium Sugar 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. Unrealized appreciation or depreciation on commodity futures contracts are reflected in the statements of operations as the difference between the original contract 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. 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 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 for the three nine September 30, 2023 2022 CANE Three months ended September 30, 2023 $ 3,707 Three months ended September 30, 2022 $ 5,436 Nine months ended September 30, 2023 $ 19,661 Nine months ended September 30, 2022 $ 31,972 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 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 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 three nine September 30, 2023 2022 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 two 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 maturity dates of 90 not may, 90 not may not September 30, 2023 December 31, 2022 Money Market Funds $ 10,927,247 $ 9,920,499 Demand Deposit Savings Accounts 3,179,785 3,069,677 Commercial Paper 9,464,920 9,987,304 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 23,571,952 $ 22,977,480 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 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 Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not not Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 38,672 $ 24,638 $ 110,304 $ 96,060 Waived Related Party Transactions $ - $ - $ - $ 25,739 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 CANE Three months ended September 30, 2023 $ - Three months ended September 30, 2022 $ - Nine months ended September 30, 2023 $ - Nine months ended September 30, 2022 $ 78,237 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 September 30, 2023 December 31, 2022 no 1 2 For the three nine September 30, 2023 December 31, 2022 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 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. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Teucrium Wheat 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. Unrealized appreciation or depreciation on commodity futures contracts are reflected in the statements of operations as the difference between the original contract 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. Interest on cash equivalents with financial institutions are recognized on an 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 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 for the three nine September 30, 2023 2022 WEAT Three months ended September 30, 2023 $ 40,896 Three months ended September 30, 2022 $ 75,136 Nine months ended September 30, 2023 $ 85,354 Nine months ended September 30, 2022 $ 354,679 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 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 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 three nine September 30, 2023 2022 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 two 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 maturity dates of 90 not may, 90 not may not September 30, 2023 December 31, 2022 Money Market Funds $ 97,737,162 $ 99,826,276 Demand Deposit Savings Accounts 10,097,641 12,309,984 Commercial Paper 74,701,941 97,594,565 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 182,536,744 $ 209,730,825 Payable for Purchases of Commercial Paper The amount recorded by the Fund for commercial paper transactions awaiting settlement, 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 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 Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not not Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 288,121 $ 358,130 $ 983,183 $ 1,011,184 Waived Related Party Transactions $ - $ - $ - $ 224,587 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 WEAT Three months ended September 30, 2023 $ - Three months ended September 30, 2022 $ - Nine months ended September 30, 2023 $ - Nine months ended September 30, 2022 $ 425,164 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 September 30, 2023 December 31, 2022 no 1 2 For the three nine September 30, 2023 December 31, 2022 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 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. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Teucrium Agricultural 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 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. 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 2020 December 31, 2022 fifty not September 30, 2023 December 31, 2022 2021 2020 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 three nine September 30, 2023 2022 The Fund may may Creations and Redemptions Effective August 28, 2018, 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 four 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, September 30, 2023 December 31, 2022 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 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 Funds 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 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 Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 26,482 $ 32,419 $ 105,812 $ 90,610 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 66,068 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 TAGS Three months ended September 30, 2023 $ 77,482 Three months ended September 30, 2022 $ 62,059 Nine months ended September 30, 2023 $ 355,731 Nine months ended September 30, 2022 $ 176,222 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”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 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 September 30, 2023 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. |
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 for the quarter ended September 30, 2023 DEFI Three months ended September 30, 2023 $ 593 Three months ended September 30, 2022 (1) $ 949 Nine months ended September 30, 2023 $ 1,970 Nine months ended September 30, 2022 (1) $ 949 ( 1 September 15, 2022. 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 is required to determine whether a tax position is more likely than not may December 31, 2022 fifty not September 30, 2023 December 31, 2022 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 a September 30, 2023 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 five 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, September 30, 2023 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 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 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 Three months ended September 30, 2023 $ 91,023 Three months ended September 30, 2022 (1) $ 550 Nine months ended September 30, 2023 $ 222,642 Nine months ended September 30, 2022 (1) $ 550 ( 1 September 15, 2022. 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”) issued ASU 2023 01, 842 842 March 31, 2023; 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 September 30, 2023 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 | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 Fair Value Measurements The Trust’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Trust’s significant accounting policies in Note 3. September 30, 2023 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of September 30, 2023 Cash Equivalents $ 293,773,799 $ - $ - $ 293,773,799 Commodity and Cryptocurrency Futures Contracts Soybean futures contracts 134,775 - - 134,775 Sugar futures contracts 1,866,449 - - 1,866,449 Bitcoin futures contracts 19,483 - - 19,483 Total $ 295,794,506 $ - $ - $ 295,794,506 Liabilities Level 1 Level 2 Level 3 Balance as of September 30, 2023 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Soybean futures contracts 510,168 - - 510,168 Sugar futures contracts 107,186 - - 107,186 Wheat futures contracts 23,185,502 - - 23,185,502 Total $ 25,923,738 $ - $ - $ 25,923,738 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 Cash Equivalents 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 For the three nine September 30, 2023 December 31, 2022 not 1 2 See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Derivative Instruments
Note 5 - Derivative Instruments and Hedging Activities | 9 Months Ended |
Sep. 30, 2023 | |
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 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 the inability of its counterparties to meet the terms of their contracts. For the three nine September 30, 2023 December 31, 2022 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 combined 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 combined statements of assets and liabilities as derivative contracts, categorized by primary underlying risk, and held by the FCMs, Marex, and StoneX as of September 30, 2023 December 31, 2022 no September 30, 2023 *The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 Soybean futures contracts $ 134,775 $ - $ 134,775 $ 134,775 $ - $ - Sugar futures contracts $ 1,866,449 $ - $ 1,866,449 $ 107,186 $ 997,931 $ 761,332 Bitcoin futures contracts $ 19,483 $ - $ 19,483 $ - $ - $ 19,483 Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 2,120,882 $ - $ 2,120,882 $ - $ 2,120,882 $ - Soybean futures contracts $ 510,168 $ - $ 510,168 $ 134,775 $ 375,393 $ - Sugar futures contracts $ 107,186 $ - $ 107,186 $ 107,186 $ - $ - Wheat futures contracts $ 23,185,502 $ - $ 23,185,502 $ - $ 23,185,502 $ - 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 $ - The following is a summary of realized and unrealized gains (losses) of the derivative instruments utilized by the Trust: Three months ended September 30, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (13,018,346 ) $ 11,306,711 Soybeans futures contracts 311,294 (507,789 ) Sugar futures contracts 2,271,032 934,750 Wheat futures contracts (32,283,536 ) 166,327 Bitcoin futures Contracts (176,608 ) (107,189 ) Total commodity and cryptocurrency futures contracts $ (42,896,164 ) $ 11,792,810 Three months ended September 30, 2022 1 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (10,344,285 ) $ 23,856,276 Soybeans futures contracts 977,658 (3,855,440 ) Sugar futures contracts (948,329 ) (1,014,429 ) Wheat futures contracts (92,957,415 ) 93,269,812 Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (103,278,313 ) $ 112,241,847 ( 1 September 15, 2022. Nine months ended September 30, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (24,479,726 ) $ (739,577 ) Soybeans futures contracts 270,814 (2,895,763 ) Sugar futures contracts 11,018,654 933,062 Wheat futures contracts (72,771,330 ) 34,604 Bitcoin futures Contracts 524,179 (9,669 ) Total commodity and cryptocurrency futures contracts $ (85,437,409 ) $ (2,677,343 ) Nine months ended September 30, 2022 1 Realized Gain (Loss) on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,678,780 $ (3,698,432 ) Soybeans futures contracts 10,675,505 (5,768,700 ) Sugar futures contracts (476,906 ) (2,281,371 ) Wheat futures contracts (53,537,910 ) (3,790,712 ) Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (14,666,473 ) $ (15,553,587 ) ( 1 September 15, 2022. Volume of Derivative Activities The average notional market value categorized by primary underlying risk for the futures contracts held was $352.7 million and $353.3 million respectively for the three nine September 30, 2023 three nine September 30, 2022 |
Note 6 - Organizational and Off
Note 6 - Organizational and Offering Costs | 9 Months Ended |
Sep. 30, 2023 | |
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 Funds, 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 | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | Note 7 Detail of the net assets and shares outstanding of the Funds that are a series of the Trust 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: September 30, 2023 Outstanding Shares Net Assets Teucrium Corn Fund 4,100,004 $ 90,448,376 Teucrium Soybean Fund 1,150,004 31,176,395 Teucrium Sugar Fund 1,650,004 24,351,498 Teucrium Wheat Fund 34,825,004 193,949,700 Hashdex Bitcoin Futures ETF 50,004 1,672,130 Teucrium Agricultural Fund: 725,002 Net assets including the investment in the Underlying Funds 21,986,775 Less: Investment in the Underlying Funds (21,975,907 ) Net for the Fund in the combined net assets of the Trust 10,868 Total $ 341,608,967 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 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 | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended September 30, 2023 no Trust: Nothing to report. CORN: Nothing to report. SOYB: Nothing to report. CANE: Nothing to report. WEAT: Nothing to report. TAGS: Nothing to report. DEFI: The total net assets of the Fund increased by $539,481, or 32%, for the period September 30, 2023 November 7, 2023. Teucrium Commodity Trust (“Target Trust’), on behalf of its series, Hashdex Bitcoin Futures ETF (“Target Fund”), and Tidal Commodities Trust I (“Acquiring Trust”), on behalf of its series, Hashdex Bitcoin Futures ETF (“Acquiring Fund”), entered into an Agreement and Plan of Partnership Merger and Liquidation dated as of October 30, 2023 ( January 3, 2024 ( Pursuant to the Plan of Merger, each Acquired Fund shareholder will receive one one The Merger will not not In connection with the Merger, the Acquiring Trust filed a Registration Statement on Form S- 4 No. 1 1 October 31, 2023 November 2, 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 quarter-ended September 30, 2023 no The total net assets of the Fund increased by $539,481, or 32%, for the period September 30, 2023 November 7, 2023. Teucrium Commodity Trust (“Target Trust’), on behalf of its series, Hashdex Bitcoin Futures ETF (“Target Fund”), and Tidal Commodities Trust I (“Acquiring Trust”), on behalf of its series, Hashdex Bitcoin Futures ETF (“Acquiring Fund”), entered into an Agreement and Plan of Partnership Merger and Liquidation dated as of October 30, 2023 ( January 3, 2024 ( Pursuant to the Plan of Merger, each Acquired Fund shareholder will receive one one The Merger will not not In connection with the Merger, the Acquiring Trust filed a Registration Statement on Form S- 4 No. 1 1 October 31, 2023 November 2, 2023, |
Schedule of Investments (Unaudi
Schedule of Investments (Unaudited) - Teucrium Corn Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS September 30, 2023 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 70,144,326 $ 70,144,326 20.53 % 70,144,326 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 77,776,959 77,776,959 22.77 77,776,959 Total money market funds $ 147,921,285 $ 147,921,285 43.30 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 4,956,994 $ 4,992,180 1.46 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % 3,967,700 3,993,666 1.17 4,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 4,952,500 4,981,792 1.46 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 4,938,250 4,948,542 1.45 5,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 9,873,444 9,997,022 2.93 10,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 4,933,250 4,982,000 1.46 5,000,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 1.46 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 0.73 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 4,940,626 4,998,416 1.46 5,000,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 0.70 2,400,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 7,434,201 7,496,475 2.19 7,500,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 4,957,222 4,972,000 1.46 5,000,000 Hyundai Capital America November 13, 2023 5.509 % 7,405,500 7,451,625 2.18 7,500,000 Jabil Inc. October 13, 2023 5.793 % 14,945,375 14,971,500 4.38 15,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 1.46 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 9,937,932 9,986,700 2.92 10,000,000 National Fuel Gas Company October 17, 2023 5.754 % 9,954,406 9,974,845 2.92 10,000,000 National Fuel Gas Company October 19, 2023 5.755 % 7,463,445 7,478,775 2.19 7,500,000 V.F. Corporation November 13, 2023 5.497 % 4,958,750 4,967,750 1.45 5,000,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 1.45 5,000,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 9,908,335 9,950,147 2.91 10,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 9,861,057 9,903,064 2.90 10,000,000 Total Commercial Paper $ 145,108,778 $ 145,852,514 42.69 % Total Cash Equivalents $ 293,773,799 85.99 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.04 % $ 10,809,075 United States sugar futures contracts ICE sugar futures MAY24 301 993,509 0.29 8,515,651 ICE sugar futures MAR25 321 872,940 0.26 8,552,981 United States CME Bitcoin futures contracts CME Bitcoin futures OCT23 6 2,464 0.00 813,000 CME Bitcoin futures NOV23 6 17,019 0.00 818,250 Total commodity and cryptocurrency futures contracts $ 2,020,707 0.59 % $ 29,508,957 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 MAR 24 1,286 $ 1,365,651 0.40 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.06 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.16 31,652,400 United States soybean futures contracts CBOT soybean futures MAR24 142 465,562 0.14 9,302,775 CBOT soybean futures NOV24 176 44,606 0.01 11,088,000 United States sugar futures contracts ICE sugar futures JUL24 268 107,186 0.03 7,293,888 0.00 United States wheat futures contracts CBOT wheat futures MAR24 2,329 11,184,967 3.27 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 1.29 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 2.22 69,309,250 Total commodity and cryptocurrency futures contracts $ 25,923,738 7.58 % $ 311,956,976 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 5,670,302 1.66 % 257,033 Teucrium Soybean Fund 5,503,425 1.61 203,005 Teucrium Sugar Fund 5,479,366 1.60 371,271 Teucrium Wheat Fund 5,322,814 1.56 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 6.43 % *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 other four The accompanying notes are an integral part of these financial statements. TEUCRIUM COMMODITY TRUST 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 Corn Fund [Member] | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | SCHEDULE OF INVESTMENTS September 30, 2023 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 17,048,020 $ 17,048,020 18.85 % 17,048,020 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 13,370,617 13,370,617 14.78 13,370,617 Total money market funds $ 30,418,637 $ 30,418,637 33.63 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % 2,478,497 $ 2,496,090 2.76 % 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 2,476,250 2,490,896 2.75 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 2,469,125 2,474,271 2.74 2,500,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 2,468,361 2,499,256 2.76 2,500,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 2,466,625 2,491,000 2.75 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 2,470,313 2,499,208 2.76 2,500,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 2.65 2,400,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 2,478,611 2,486,000 2.75 2,500,000 Hyundai Capital America November 13, 2023 5.509 % 2,468,500 2,483,875 2.75 2,500,000 Jabil Inc. October 13, 2023 5.793 % 2,490,896 2,495,250 2.76 2,500,000 Marriott International, Inc. October 10, 2023 5.408 % 2,484,483 2,496,675 2.76 2,500,000 National Fuel Gas Company October 17, 2023 5.754 % 4,977,203 4,987,422 5.51 5,000,000 National Fuel Gas Company October 19, 2023 5.755 % 2,487,815 2,492,925 2.76 2,500,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 7,431,251 7,462,610 8.25 7,500,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 2,465,264 2,475,766 2.74 2,500,000 Total Commercial Paper $ 44,498,261 $ 44,730,124 49.45 % Total Cash Equivalents $ 75,148,761 83.08 % 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 MAR 24 1,286 $ 1,365,651 1.51 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.24 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.59 31,652,400 Total commodity futures contracts $ 2,120,882 2.34 % $ 90,399,025 The accompanying notes are an integral part of these financial statements. TEUCRIUM CORN FUND 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 Principal Date Yield Cost Fair Value Net Assets 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. |
Note 1 - Organization and Ope_2
Note 1 - Organization and Operation - Teucrium Corn Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009, six April 29, 2019, On June 7, 2010, 1 June 8, 2010, four June 9, 2010. April 7, 2022. On June 13, 2011, 1 September 16, 2011, two $2,500,000 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 accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC in its capacity as the Sponsor of the Trust may no |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation 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 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, four June 9, 2010. April 7, 2022. The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor (“Sponsor”), may no |
Note 2 - Principal Contracts _2
Note 2 - Principal Contracts and Agreements - Teucrium Corn Fund | 9 Months Ended |
Sep. 30, 2023 | |
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. 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 each Fund’s average daily net assets and an aggregate annual fee of $100,000 for all 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 as distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below. 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 $3.00 per round turn exclusive of pass-through fees for the exchange and the NFA. 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 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 combined statements of operations. A summary of these expenses is included below: Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 115,736 $ 151,161 $ 333,733 $ 280,651 Amount of Custody Services Waived $ 3,360 $ 7,455 $ 19,876 $ 35,556 Amount Recognized for Distribution Services $ 35,012 $ 53,835 $ 111,505 $ 147,890 Amount of Distribution Services Waived $ 1,835 $ 2,739 $ 6,771 $ 45,733 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 171 $ 550 $ 171 $ 550 Amount Recognized for Thales $ 54,612 $ 54,755 $ 92,190 $ 212,879 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 103,396 ( 1 September 15, 2022. |
Teucrium Corn Fund [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. 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 each Fund’s average daily net assets and an aggregate annual fee of $100,000 for all 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 as distribution and marketing fees on the statements of operations. A summary of these expenses is included below. Marex Capital Markets, Inc. (“Marex”) and StoneX Financial Inc (“StoneX”) serve as the Funds’ clearing brokers to execute and clear futures contracts 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 $3.00 per round turn exclusive of pass-through fees for the exchange and the NFA. 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 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: Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Amount Recognized for Custody Services $ 34,535 $ 42,405 $ 89,338 $ 77,409 Amount of Custody Services Waived $ - $ - $ - $ 4,000 Amount Recognized for Distribution Services $ 9,202 $ 14,345 $ 29,157 $ 46,974 Amount of Distribution Services Waived $ - $ - $ - $ 17,010 Amount Recognized for Wilmington Trust $ 860 $ 550 $ 860 $ 550 Amount of Wilmington Trust Waived $ - $ - $ - $ - Amount Recognized for Thales $ 14,528 $ 14,487 $ 24,360 $ 73,405 Amount of Thales Waived $ - $ - $ - $ 27,193 |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies - Teucrium Corn Fund | 9 Months Ended |
Sep. 30, 2023 | |
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 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. The periods represented by the financial statements herein contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI for the months during which each Fund was in operation, except for eliminations for TAGS as explained below. Given the investment objective of TAGS as described in Note 1 four 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. Unrealized appreciation or depreciation on commodity and cryptocurrency futures contracts are reflected in the combined statements of operations as the difference between the original contract 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 combined statements of operations. Interest on cash equivalents with financial institutions are recognized on an accrual basis. The Funds 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 combined financial statements and reflected in cash and cash equivalents on the combined statements of assets and liabilities and on the combined 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 combined 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 combined 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 combined statements of operations as total brokerage commissions paid inclusive of unrealized loss for the three nine September 30, 2023 2022 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ 23,697 $ 2,220 $ 3,707 $ 40,896 $ - $ 593 $ 71,113 Three months ended September 30, 2022 (1) $ 54,746 $ 6,432 $ 5,436 $ 75,136 $ - $ 949 $ 142,699 Nine months ended September 30, 2023 $ 54,865 $ 10,999 $ 19,661 $ 85,354 $ - $ 1,970 $ 172,849 Nine months ended September 30, 2022 (1) $ 188,321 $ 21,638 $ 31,972 $ 354,679 $ - $ 949 $ 597,559 ( 1 September 15, 2022. 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 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 may 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 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 as of and for the three nine September 30, 2023 2022 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. If a Fund experienced redemptions that caused the number of Shares outstanding to decrease to the minimum level of Shares required to be outstanding, until the minimum number of Shares is again exceeded through the purchase of a new Creation Basket, 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 September 30, 2023 December 31, 2022 Money Market Funds $ 147,921,285 $ 188,640,417 Demand Deposit Savings Accounts 28,763,367 46,061,819 Commercial Paper 145,852,514 199,360,060 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 322,537,166 $ 434,062,296 Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement 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 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. 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 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 may not In addition, the Agricultural Funds, except for TAGS, which has no 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, the Financial Industry Regulatory Authority (“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. Each 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 not 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 Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Recognized Related Party Transactions $ 566,723 $ 638,361 $ 1,889,702 $ 2,055,991 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 498,171 ( 1 September 15, 2022. 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 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 ( 1 September 15, 2022. 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 amounts 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 September 30, 2023 December 31, 2022 no For the three nine September 30, 2023 December 31, 2022 not 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”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Teucrium Corn 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. Unrealized appreciation or depreciation on commodity futures contracts are reflected in the statements of operations as the difference between the original contract 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. The Fund seeks to earn interest on its assets denominated in U.S. dollars on deposits 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 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 for the three nine September 30, 2023 2022 CORN Three months ended September 30, 2023 $ 23,697 Three months ended September 30, 2022 $ 54,746 Nine months ended September 30, 2023 $ 54,865 Nine months ended September 30, 2022 $ 188,321 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 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 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 three nine September 30, 2023 2022 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 two 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 maturity dates of 90 not may, 90 not may not September 30, 2023 December 31, 2022 Money Market Funds $ 30,418,637 $ 52,555,915 Demand Deposit Savings Accounts 10,157,951 25,538,663 Commercial Paper 44,730,124 64,340,159 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 85,306,712 $ 142,434,737 Payable for Purchases of Commercial Paper The amount recorded by the Fund for commercial paper transactions awaiting settlement, 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 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, 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 Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not not Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 153,884 $ 170,070 $ 505,154 $ 652,887 Waived Related Party Transactions $ - $ - $ - $ 149,721 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 CORN Three months ended September 30, 2023 $ - Three months ended September 30, 2022 $ - Nine months ended September 30, 2023 $ - Nine months ended September 30, 2022 $ 345,855 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 not 1 2 3 On September 30, 2023 December 31, 2022 no 1 2 For the three nine September 30, 2023 December 31, 2022 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 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. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements - Teucrium Corn Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 Fair Value Measurements The Trust’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Trust’s significant accounting policies in Note 3. September 30, 2023 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of September 30, 2023 Cash Equivalents $ 293,773,799 $ - $ - $ 293,773,799 Commodity and Cryptocurrency Futures Contracts Soybean futures contracts 134,775 - - 134,775 Sugar futures contracts 1,866,449 - - 1,866,449 Bitcoin futures contracts 19,483 - - 19,483 Total $ 295,794,506 $ - $ - $ 295,794,506 Liabilities Level 1 Level 2 Level 3 Balance as of September 30, 2023 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Soybean futures contracts 510,168 - - 510,168 Sugar futures contracts 107,186 - - 107,186 Wheat futures contracts 23,185,502 - - 23,185,502 Total $ 25,923,738 $ - $ - $ 25,923,738 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 Cash Equivalents 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 For the three nine September 30, 2023 December 31, 2022 not 1 2 See the Fair Value - Definition and Hierarchy 3 |
Teucrium Corn 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. September 30, 2023 December 31, 2022 September 30, 2023 Balance as of Assets: Level 1 Level 2 Level 3 September 30, 2023 Cash Equivalents $ 75,148,761 $ - $ - $ 75,148,761 Balance as of Liabilities Level 1 Level 2 Level 3 September 30, 2023 Commodity Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 December 31, 2022 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2022 Cash Equivalents $ 116,896,074 $ - $ - $ 116,896,074 Commodity Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Total $ 118,481,872 $ - $ - $ 118,481,872 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2022 Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 For the three nine September 30, 2023 December 31, 2022 not See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Derivative Instrumen_2
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Corn Fund | 9 Months Ended |
Sep. 30, 2023 | |
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 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 the inability of its counterparties to meet the terms of their contracts. For the three nine September 30, 2023 December 31, 2022 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 combined 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 combined statements of assets and liabilities as derivative contracts, categorized by primary underlying risk, and held by the FCMs, Marex, and StoneX as of September 30, 2023 December 31, 2022 no September 30, 2023 *The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 Soybean futures contracts $ 134,775 $ - $ 134,775 $ 134,775 $ - $ - Sugar futures contracts $ 1,866,449 $ - $ 1,866,449 $ 107,186 $ 997,931 $ 761,332 Bitcoin futures contracts $ 19,483 $ - $ 19,483 $ - $ - $ 19,483 Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 2,120,882 $ - $ 2,120,882 $ - $ 2,120,882 $ - Soybean futures contracts $ 510,168 $ - $ 510,168 $ 134,775 $ 375,393 $ - Sugar futures contracts $ 107,186 $ - $ 107,186 $ 107,186 $ - $ - Wheat futures contracts $ 23,185,502 $ - $ 23,185,502 $ - $ 23,185,502 $ - 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 $ - The following is a summary of realized and unrealized gains (losses) of the derivative instruments utilized by the Trust: Three months ended September 30, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (13,018,346 ) $ 11,306,711 Soybeans futures contracts 311,294 (507,789 ) Sugar futures contracts 2,271,032 934,750 Wheat futures contracts (32,283,536 ) 166,327 Bitcoin futures Contracts (176,608 ) (107,189 ) Total commodity and cryptocurrency futures contracts $ (42,896,164 ) $ 11,792,810 Three months ended September 30, 2022 1 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (10,344,285 ) $ 23,856,276 Soybeans futures contracts 977,658 (3,855,440 ) Sugar futures contracts (948,329 ) (1,014,429 ) Wheat futures contracts (92,957,415 ) 93,269,812 Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (103,278,313 ) $ 112,241,847 ( 1 September 15, 2022. Nine months ended September 30, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (24,479,726 ) $ (739,577 ) Soybeans futures contracts 270,814 (2,895,763 ) Sugar futures contracts 11,018,654 933,062 Wheat futures contracts (72,771,330 ) 34,604 Bitcoin futures Contracts 524,179 (9,669 ) Total commodity and cryptocurrency futures contracts $ (85,437,409 ) $ (2,677,343 ) Nine months ended September 30, 2022 1 Realized Gain (Loss) on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,678,780 $ (3,698,432 ) Soybeans futures contracts 10,675,505 (5,768,700 ) Sugar futures contracts (476,906 ) (2,281,371 ) Wheat futures contracts (53,537,910 ) (3,790,712 ) Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (14,666,473 ) $ (15,553,587 ) ( 1 September 15, 2022. Volume of Derivative Activities The average notional market value categorized by primary underlying risk for the futures contracts held was $352.7 million and $353.3 million respectively for the three nine September 30, 2023 three nine September 30, 2022 |
Teucrium Corn 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 three nine September 30, 2023 December 31, 2022 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 September 30, 2023 December 31, 2022 *The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 2,120,882 $ - $ 2,120,882 $ - $ 2,120,882 $ - 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 $ - 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 commodity futures contracts categorized by primary underlying risk: Three months ended September 30, 2023 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (13,018,346 ) $ 11,306,711 Three months ended September 30, 2022 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (10,344,285 ) $ 23,856,276 Nine months ended September 30, 2023 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (24,479,726 ) $ (739,577 ) Nine months ended September 30, 2022 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,678,780 $ (3,698,432 ) Volume of Derivative Activities The average notional market value categorized by primary underlying risk for the futures contracts held was $96.6 million and $106.5 million respectively for the three nine September 30, 2023 three nine September 30, 2022 |
Note 6 - Financial Highlights -
Note 6 - Financial Highlights - Teucrium Corn Fund | 9 Months Ended |
Sep. 30, 2023 | |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Investment Company, Financial Highlights [Text Block] | Note 6 Financial Highlights The following tables present per unit performance data and other supplemental financial data for the three nine September 30, 2023 2022 Three months ended Three months ended Nine months ended Nine months ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Per Share Operation Performance Net asset value at beginning of period $ 22.22 $ 25.06 $ 26.90 $ 21.58 Income from investment operations: Investment income 0.30 0.13 0.88 0.21 Net realized and unrealized (loss) gain on commodity futures contracts (0.30 ) 1.96 (5.26 ) 5.58 Total expenses, net (0.16 ) (0.11 ) (0.46 ) (0.33 ) Net (decrease) increase in net asset value (0.16 ) 1.98 (4.84 ) 5.46 Net asset value at end of period $ 22.06 $ 27.04 $ 22.06 $ 27.04 Total Return -0.73 % 7.89 % -17.98 % 25.30 % Ratios to Average Net Assets (Annualized) Total expenses 2.82 % 1.79 % 2.51 % 1.90 % Total expenses, net 2.82 % 1.79 % 2.51 % 1.69 % Net investment income (loss) 2.41 % 0.27 % 2.32 % -0.64 % 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 | 9 Months Ended |
Sep. 30, 2023 | |
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 Funds, 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 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 - Te
Note 8 - Subsequent Events - Teucrium Corn Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended September 30, 2023 no Trust: Nothing to report. CORN: Nothing to report. SOYB: Nothing to report. CANE: Nothing to report. WEAT: Nothing to report. TAGS: Nothing to report. DEFI: The total net assets of the Fund increased by $539,481, or 32%, for the period September 30, 2023 November 7, 2023. Teucrium Commodity Trust (“Target Trust’), on behalf of its series, Hashdex Bitcoin Futures ETF (“Target Fund”), and Tidal Commodities Trust I (“Acquiring Trust”), on behalf of its series, Hashdex Bitcoin Futures ETF (“Acquiring Fund”), entered into an Agreement and Plan of Partnership Merger and Liquidation dated as of October 30, 2023 ( January 3, 2024 ( Pursuant to the Plan of Merger, each Acquired Fund shareholder will receive one one The Merger will not not In connection with the Merger, the Acquiring Trust filed a Registration Statement on Form S- 4 No. 1 1 October 31, 2023 November 2, 2023, |
Teucrium Corn Fund [Member] | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended September 30, 2023 no |
Schedule of Investments (Unau_2
Schedule of Investments (Unaudited) - Teucrium Soybean Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS September 30, 2023 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 70,144,326 $ 70,144,326 20.53 % 70,144,326 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 77,776,959 77,776,959 22.77 77,776,959 Total money market funds $ 147,921,285 $ 147,921,285 43.30 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 4,956,994 $ 4,992,180 1.46 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % 3,967,700 3,993,666 1.17 4,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 4,952,500 4,981,792 1.46 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 4,938,250 4,948,542 1.45 5,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 9,873,444 9,997,022 2.93 10,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 4,933,250 4,982,000 1.46 5,000,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 1.46 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 0.73 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 4,940,626 4,998,416 1.46 5,000,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 0.70 2,400,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 7,434,201 7,496,475 2.19 7,500,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 4,957,222 4,972,000 1.46 5,000,000 Hyundai Capital America November 13, 2023 5.509 % 7,405,500 7,451,625 2.18 7,500,000 Jabil Inc. October 13, 2023 5.793 % 14,945,375 14,971,500 4.38 15,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 1.46 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 9,937,932 9,986,700 2.92 10,000,000 National Fuel Gas Company October 17, 2023 5.754 % 9,954,406 9,974,845 2.92 10,000,000 National Fuel Gas Company October 19, 2023 5.755 % 7,463,445 7,478,775 2.19 7,500,000 V.F. Corporation November 13, 2023 5.497 % 4,958,750 4,967,750 1.45 5,000,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 1.45 5,000,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 9,908,335 9,950,147 2.91 10,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 9,861,057 9,903,064 2.90 10,000,000 Total Commercial Paper $ 145,108,778 $ 145,852,514 42.69 % Total Cash Equivalents $ 293,773,799 85.99 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.04 % $ 10,809,075 United States sugar futures contracts ICE sugar futures MAY24 301 993,509 0.29 8,515,651 ICE sugar futures MAR25 321 872,940 0.26 8,552,981 United States CME Bitcoin futures contracts CME Bitcoin futures OCT23 6 2,464 0.00 813,000 CME Bitcoin futures NOV23 6 17,019 0.00 818,250 Total commodity and cryptocurrency futures contracts $ 2,020,707 0.59 % $ 29,508,957 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 MAR 24 1,286 $ 1,365,651 0.40 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.06 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.16 31,652,400 United States soybean futures contracts CBOT soybean futures MAR24 142 465,562 0.14 9,302,775 CBOT soybean futures NOV24 176 44,606 0.01 11,088,000 United States sugar futures contracts ICE sugar futures JUL24 268 107,186 0.03 7,293,888 0.00 United States wheat futures contracts CBOT wheat futures MAR24 2,329 11,184,967 3.27 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 1.29 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 2.22 69,309,250 Total commodity and cryptocurrency futures contracts $ 25,923,738 7.58 % $ 311,956,976 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 5,670,302 1.66 % 257,033 Teucrium Soybean Fund 5,503,425 1.61 203,005 Teucrium Sugar Fund 5,479,366 1.60 371,271 Teucrium Wheat Fund 5,322,814 1.56 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 6.43 % *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 other four The accompanying notes are an integral part of these financial statements. TEUCRIUM COMMODITY TRUST 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 Soybean Fund [Member] | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | SCHEDULE OF INVESTMENTS September 30, 2023 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 1,775,025 $ 1,775,025 5.69 % 1,775,025 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 5,871,233 5,871,233 18.83 5,871,233 Total money market funds $ 7,646,258 $ 7,646,258 24.52 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % $ 1,983,850 $ 1,996,833 6.40 % 2,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 2,468,361 2,499,255 8.02 2,500,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 2,478,067 2,498,825 8.02 2,500,000 Jabil Inc. October 13, 2023 5.793 % 2,490,896 2,495,250 8.00 2,500,000 Marriott International, Inc. October 10, 2023 5.408 % 2,484,483 2,496,675 8.01 2,500,000 National Fuel Gas Company October 19, 2023 5.755 % 2,487,815 2,492,925 8.00 2,500,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 2,465,264 2,475,766 7.94 2,500,000 Total Commercial Paper $ 16,858,736 $ 16,955,529 54.39 % Total Cash Equivalents $ 24,601,787 78.91 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.43 % $ 10,809,075 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States soybean futures contracts CBOT soybean futures MAR24 142 $ 465,562 1.49 % $ 9,302,775 CBOT soybean futures NOV24 176 44,606 0.14 11,088,000 Total commodity futures contracts $ 510,168 1.64 % $ 20,390,775 The accompanying notes are an integral part of these financial statements. TEUCRIUM SOYBEAN FUND 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 Principal Date Yield Cost Fair Value Net Assets 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. |
Note 1 - Organization and Ope_3
Note 1 - Organization and Operation - Teucrium Soybean Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009, six April 29, 2019, On June 7, 2010, 1 June 8, 2010, four June 9, 2010. April 7, 2022. On June 13, 2011, 1 September 16, 2011, two $2,500,000 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 accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC in its capacity as the Sponsor of the Trust may no |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation 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 SOYB Benchmark CBOT Soybean 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, two September 19, 2011, April 7, 2022. The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor (“Sponsor”), may no |
Note 2 - Principal Contracts _3
Note 2 - Principal Contracts and Agreements - Teucrium Soybean Fund | 9 Months Ended |
Sep. 30, 2023 | |
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. 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 each Fund’s average daily net assets and an aggregate annual fee of $100,000 for all 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 as distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below. 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 $3.00 per round turn exclusive of pass-through fees for the exchange and the NFA. 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 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 combined statements of operations. A summary of these expenses is included below: Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 115,736 $ 151,161 $ 333,733 $ 280,651 Amount of Custody Services Waived $ 3,360 $ 7,455 $ 19,876 $ 35,556 Amount Recognized for Distribution Services $ 35,012 $ 53,835 $ 111,505 $ 147,890 Amount of Distribution Services Waived $ 1,835 $ 2,739 $ 6,771 $ 45,733 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 171 $ 550 $ 171 $ 550 Amount Recognized for Thales $ 54,612 $ 54,755 $ 92,190 $ 212,879 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 103,396 ( 1 September 15, 2022. |
Teucrium Soybean Fund [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. 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 each Fund’s average daily net assets and an aggregate annual fee of $100,000 for all 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 as distribution and marketing fees on the statements of operations. A summary of these expenses is included below. Marex Capital Markets, Inc. (“Marex”) and StoneX Financial Inc. (“StoneX”) serve as the Funds’ clearing brokers to execute and clear futures contracts 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 E D & F Man is paid $3.00 per round turn exclusive of pass-through fees for the exchange and the NFA. 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 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: Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Amount Recognized for Custody Services $ 14,186 $ 13,002 $ 31,501 $ 24,008 Amount of Custody Services Waived $ - $ - $ - $ 4,000 Amount Recognized for Distribution Services $ 3,636 $ 4,476 $ 10,808 $ 14,860 Amount of Distribution Services Waived $ - $ - $ - $ 3,962 Amount Recognized for Wilmington Trust $ 317 $ 550 $ 317 $ 550 Amount of Wilmington Trust Waived $ - $ - $ - $ - Amount Recognized for Thales $ 5,219 $ 4,543 $ 8,760 $ 22,314 Amount of Thales Waived $ - $ - $ - $ - |
Note 3 - Summary of Significa_3
Note 3 - Summary of Significant Accounting Policies - Teucrium Soybean Fund | 9 Months Ended |
Sep. 30, 2023 | |
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 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. The periods represented by the financial statements herein contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI for the months during which each Fund was in operation, except for eliminations for TAGS as explained below. Given the investment objective of TAGS as described in Note 1 four 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. Unrealized appreciation or depreciation on commodity and cryptocurrency futures contracts are reflected in the combined statements of operations as the difference between the original contract 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 combined statements of operations. Interest on cash equivalents with financial institutions are recognized on an accrual basis. The Funds 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 combined financial statements and reflected in cash and cash equivalents on the combined statements of assets and liabilities and on the combined 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 combined 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 combined 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 combined statements of operations as total brokerage commissions paid inclusive of unrealized loss for the three nine September 30, 2023 2022 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ 23,697 $ 2,220 $ 3,707 $ 40,896 $ - $ 593 $ 71,113 Three months ended September 30, 2022 (1) $ 54,746 $ 6,432 $ 5,436 $ 75,136 $ - $ 949 $ 142,699 Nine months ended September 30, 2023 $ 54,865 $ 10,999 $ 19,661 $ 85,354 $ - $ 1,970 $ 172,849 Nine months ended September 30, 2022 (1) $ 188,321 $ 21,638 $ 31,972 $ 354,679 $ - $ 949 $ 597,559 ( 1 September 15, 2022. 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 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 may 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 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 as of and for the three nine September 30, 2023 2022 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. If a Fund experienced redemptions that caused the number of Shares outstanding to decrease to the minimum level of Shares required to be outstanding, until the minimum number of Shares is again exceeded through the purchase of a new Creation Basket, 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 September 30, 2023 December 31, 2022 Money Market Funds $ 147,921,285 $ 188,640,417 Demand Deposit Savings Accounts 28,763,367 46,061,819 Commercial Paper 145,852,514 199,360,060 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 322,537,166 $ 434,062,296 Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement 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 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. 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 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 may not In addition, the Agricultural Funds, except for TAGS, which has no 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, the Financial Industry Regulatory Authority (“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. Each 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 not 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 Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Recognized Related Party Transactions $ 566,723 $ 638,361 $ 1,889,702 $ 2,055,991 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 498,171 ( 1 September 15, 2022. 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 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 ( 1 September 15, 2022. 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 amounts 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 September 30, 2023 December 31, 2022 no For the three nine September 30, 2023 December 31, 2022 not 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”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Teucrium Soybean 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. Unrealized appreciation or depreciation on commodity futures contracts are reflected in the statements of operations as the difference between the original contract 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. The Fund seeks to earn interest on its assets denominated in U.S. dollars on deposits with the Futures Commission Merchant. In addition, 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 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 for the three nine September 30, 2023 2022 SOYB Three months ended September 30, 2023 $ 2,220 Three months ended September 30, 2022 $ 6,432 Nine months ended September 30, 2023 $ 10,999 Nine months ended September 30, 2022 $ 21,638 Income Taxes 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 Fund is required to determine whether a tax position is more likely than not may 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 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 three nine September 30, 2023 2022 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 two 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 maturity dates of 90 not may, 90 not may not September 30, 2023 December 31, 2022 Money Market Funds $ 7,646,258 $ 25,631,042 Demand Deposit Savings Accounts 5,327,990 5,143,495 Commercial Paper 16,955,529 27,438,032 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 29,929,777 $ 58,212,569 Payable for Purchases of Commercial Paper The amount recorded by the Fund for commercial paper transactions awaiting settlement, 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 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 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 Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not not Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 59,564 $ 53,104 $ 185,249 $ 205,250 Waived Related Party Transactions $ - $ - $ - $ 32,056 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 SOYB Three months ended September 30, 2023 $ - Three months ended September 30, 2022 $ - Nine months ended September 30, 2023 $ - Nine months ended September 30, 2022 $ 89,562 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 September 30, 2023 December 31, 2022 no 1 2 For the three nine September 30, 2023 December 31, 2022 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”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements - Teucrium Soybean Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 Fair Value Measurements The Trust’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Trust’s significant accounting policies in Note 3. September 30, 2023 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of September 30, 2023 Cash Equivalents $ 293,773,799 $ - $ - $ 293,773,799 Commodity and Cryptocurrency Futures Contracts Soybean futures contracts 134,775 - - 134,775 Sugar futures contracts 1,866,449 - - 1,866,449 Bitcoin futures contracts 19,483 - - 19,483 Total $ 295,794,506 $ - $ - $ 295,794,506 Liabilities Level 1 Level 2 Level 3 Balance as of September 30, 2023 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Soybean futures contracts 510,168 - - 510,168 Sugar futures contracts 107,186 - - 107,186 Wheat futures contracts 23,185,502 - - 23,185,502 Total $ 25,923,738 $ - $ - $ 25,923,738 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 Cash Equivalents 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 For the three nine September 30, 2023 December 31, 2022 not 1 2 See the Fair Value - Definition and Hierarchy 3 |
Teucrium Soybean 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. September 30, 2023 December 31, 2022 September 30, 2023 Balance as of Assets: Level 1 Level 2 Level 3 September 30, 2023 Cash Equivalents $ 24,601,787 $ - $ - $ 24,601,787 Commodity Futures Contracts Soybean futures contracts 134,775 - - 134,775 Total $ 24,736,562 $ - $ - $ 24,736,562 Balance as of Liabilities Level 1 Level 2 Level 3 September 30, 2023 Commodity Futures Contracts Soybean futures contracts $ 510,168 $ - $ - $ 510,168 December 31, 2022 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2022 Cash Equivalents $ 53,069,074 $ - $ - $ 53,069,074 Commodity Futures Contracts Soybean futures contracts 2,520,370 - - 2,520,370 Total $ 55,589,444 $ - $ - $ 55,589,444 For the three nine September 30, 2023 December 31, 2022 not See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Derivative Instrumen_3
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Soybean Fund | 9 Months Ended |
Sep. 30, 2023 | |
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 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 the inability of its counterparties to meet the terms of their contracts. For the three nine September 30, 2023 December 31, 2022 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 combined 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 combined statements of assets and liabilities as derivative contracts, categorized by primary underlying risk, and held by the FCMs, Marex, and StoneX as of September 30, 2023 December 31, 2022 no September 30, 2023 *The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 Soybean futures contracts $ 134,775 $ - $ 134,775 $ 134,775 $ - $ - Sugar futures contracts $ 1,866,449 $ - $ 1,866,449 $ 107,186 $ 997,931 $ 761,332 Bitcoin futures contracts $ 19,483 $ - $ 19,483 $ - $ - $ 19,483 Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 2,120,882 $ - $ 2,120,882 $ - $ 2,120,882 $ - Soybean futures contracts $ 510,168 $ - $ 510,168 $ 134,775 $ 375,393 $ - Sugar futures contracts $ 107,186 $ - $ 107,186 $ 107,186 $ - $ - Wheat futures contracts $ 23,185,502 $ - $ 23,185,502 $ - $ 23,185,502 $ - 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 $ - The following is a summary of realized and unrealized gains (losses) of the derivative instruments utilized by the Trust: Three months ended September 30, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (13,018,346 ) $ 11,306,711 Soybeans futures contracts 311,294 (507,789 ) Sugar futures contracts 2,271,032 934,750 Wheat futures contracts (32,283,536 ) 166,327 Bitcoin futures Contracts (176,608 ) (107,189 ) Total commodity and cryptocurrency futures contracts $ (42,896,164 ) $ 11,792,810 Three months ended September 30, 2022 1 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (10,344,285 ) $ 23,856,276 Soybeans futures contracts 977,658 (3,855,440 ) Sugar futures contracts (948,329 ) (1,014,429 ) Wheat futures contracts (92,957,415 ) 93,269,812 Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (103,278,313 ) $ 112,241,847 ( 1 September 15, 2022. Nine months ended September 30, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (24,479,726 ) $ (739,577 ) Soybeans futures contracts 270,814 (2,895,763 ) Sugar futures contracts 11,018,654 933,062 Wheat futures contracts (72,771,330 ) 34,604 Bitcoin futures Contracts 524,179 (9,669 ) Total commodity and cryptocurrency futures contracts $ (85,437,409 ) $ (2,677,343 ) Nine months ended September 30, 2022 1 Realized Gain (Loss) on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,678,780 $ (3,698,432 ) Soybeans futures contracts 10,675,505 (5,768,700 ) Sugar futures contracts (476,906 ) (2,281,371 ) Wheat futures contracts (53,537,910 ) (3,790,712 ) Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (14,666,473 ) $ (15,553,587 ) ( 1 September 15, 2022. Volume of Derivative Activities The average notional market value categorized by primary underlying risk for the futures contracts held was $352.7 million and $353.3 million respectively for the three nine September 30, 2023 three nine September 30, 2022 |
Teucrium Soybean 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 three nine September 30, 2023 December 31, 2022 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 September 30, 2023 December 31, 2022 *The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 $ 134,775 $ - $ 134,775 $ 134,775 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 Soybean futures contracts $ 510,168 $ - $ 510,168 $ 134,775 $ 375,393 $ - 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 The following is a summary of realized and unrealized gains and losses of the derivative instruments utilized by the Fund: Three months ended September 30, 2023 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 311,294 $ (507,789 ) Three months ended September 30, 2022 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 977,658 $ (3,855,440 ) Nine months ended September 30, 2023 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 270,814 $ (2,895,763 ) Nine months ended September 30, 2022 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 10,675,505 $ (5,768,700 ) Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $34.7 million and $37.2 million respectively for the three nine September 30, 2023 three nine September 30, 2022 |
Note 6 - Financial Highlights_2
Note 6 - Financial Highlights - Teucrium Soybean Fund | 9 Months Ended |
Sep. 30, 2023 | |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Investment Company, Financial Highlights [Text Block] | Note 6 Financial Highlights The following tables present per unit performance data and other supplemental financial data for the three nine September 30, 2023 2022 Three months ended Three months ended Nine months ended Nine months ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Per Share Operation Performance Net asset value at beginning of period $ 27.33 $ 27.07 $ 28.50 $ 22.77 Income from investment operations: Investment income 0.37 0.13 1.00 0.21 Net realized and unrealized (loss) gain on commodity futures contracts (0.34 ) (0.98 ) (1.76 ) 3.48 Total expenses, net (0.25 ) (0.11 ) (0.63 ) (0.35 ) Net (decrease) increase in net asset value (0.22 ) (0.96 ) (1.39 ) 3.34 Net asset value at end of period $ 27.11 $ 26.11 $ 27.11 $ 26.11 Total Return -0.80 % -3.52 % -4.89 % 14.68 % Ratios to Average Net Assets (Annualized) Total expenses 3.57 % 1.73 % 3.05 % 1.92 % Total expenses, net 3.57 % 1.73 % 3.05 % 1.75 % Net investment income (loss) 1.68 % 0.34 % 1.81 % -0.68 % 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 | 9 Months Ended |
Sep. 30, 2023 | |
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 Funds, 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 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 - _2
Note 8 - Subsequent Events - Teucrium Soybean Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended September 30, 2023 no Trust: Nothing to report. CORN: Nothing to report. SOYB: Nothing to report. CANE: Nothing to report. WEAT: Nothing to report. TAGS: Nothing to report. DEFI: The total net assets of the Fund increased by $539,481, or 32%, for the period September 30, 2023 November 7, 2023. Teucrium Commodity Trust (“Target Trust’), on behalf of its series, Hashdex Bitcoin Futures ETF (“Target Fund”), and Tidal Commodities Trust I (“Acquiring Trust”), on behalf of its series, Hashdex Bitcoin Futures ETF (“Acquiring Fund”), entered into an Agreement and Plan of Partnership Merger and Liquidation dated as of October 30, 2023 ( January 3, 2024 ( Pursuant to the Plan of Merger, each Acquired Fund shareholder will receive one one The Merger will not not In connection with the Merger, the Acquiring Trust filed a Registration Statement on Form S- 4 No. 1 1 October 31, 2023 November 2, 2023, |
Teucrium Soybean Fund [Member] | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended September 30, 2023 no |
Schedule of Investments (Unau_3
Schedule of Investments (Unaudited) - Teucrium Sugar Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS September 30, 2023 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 70,144,326 $ 70,144,326 20.53 % 70,144,326 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 77,776,959 77,776,959 22.77 77,776,959 Total money market funds $ 147,921,285 $ 147,921,285 43.30 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 4,956,994 $ 4,992,180 1.46 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % 3,967,700 3,993,666 1.17 4,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 4,952,500 4,981,792 1.46 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 4,938,250 4,948,542 1.45 5,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 9,873,444 9,997,022 2.93 10,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 4,933,250 4,982,000 1.46 5,000,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 1.46 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 0.73 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 4,940,626 4,998,416 1.46 5,000,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 0.70 2,400,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 7,434,201 7,496,475 2.19 7,500,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 4,957,222 4,972,000 1.46 5,000,000 Hyundai Capital America November 13, 2023 5.509 % 7,405,500 7,451,625 2.18 7,500,000 Jabil Inc. October 13, 2023 5.793 % 14,945,375 14,971,500 4.38 15,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 1.46 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 9,937,932 9,986,700 2.92 10,000,000 National Fuel Gas Company October 17, 2023 5.754 % 9,954,406 9,974,845 2.92 10,000,000 National Fuel Gas Company October 19, 2023 5.755 % 7,463,445 7,478,775 2.19 7,500,000 V.F. Corporation November 13, 2023 5.497 % 4,958,750 4,967,750 1.45 5,000,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 1.45 5,000,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 9,908,335 9,950,147 2.91 10,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 9,861,057 9,903,064 2.90 10,000,000 Total Commercial Paper $ 145,108,778 $ 145,852,514 42.69 % Total Cash Equivalents $ 293,773,799 85.99 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.04 % $ 10,809,075 United States sugar futures contracts ICE sugar futures MAY24 301 993,509 0.29 8,515,651 ICE sugar futures MAR25 321 872,940 0.26 8,552,981 United States CME Bitcoin futures contracts CME Bitcoin futures OCT23 6 2,464 0.00 813,000 CME Bitcoin futures NOV23 6 17,019 0.00 818,250 Total commodity and cryptocurrency futures contracts $ 2,020,707 0.59 % $ 29,508,957 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 MAR 24 1,286 $ 1,365,651 0.40 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.06 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.16 31,652,400 United States soybean futures contracts CBOT soybean futures MAR24 142 465,562 0.14 9,302,775 CBOT soybean futures NOV24 176 44,606 0.01 11,088,000 United States sugar futures contracts ICE sugar futures JUL24 268 107,186 0.03 7,293,888 0.00 United States wheat futures contracts CBOT wheat futures MAR24 2,329 11,184,967 3.27 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 1.29 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 2.22 69,309,250 Total commodity and cryptocurrency futures contracts $ 25,923,738 7.58 % $ 311,956,976 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 5,670,302 1.66 % 257,033 Teucrium Soybean Fund 5,503,425 1.61 203,005 Teucrium Sugar Fund 5,479,366 1.60 371,271 Teucrium Wheat Fund 5,322,814 1.56 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 6.43 % *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 other four The accompanying notes are an integral part of these financial statements. TEUCRIUM COMMODITY TRUST 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 Sugar Fund [Member] | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | SCHEDULE OF INVESTMENTS September 30, 2023 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 7,060,230 $ 7,060,230 28.99 % 7,060,230 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 3,867,017 3,867,017 15.88 3,867,017 Total Money Market Funds $ 10,927,247 $ 10,927,247 44.87 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % $ 1,983,850 $ 1,996,833 8.20 % 2,000,000 Marriott International, Inc. October 10, 2023 5.408 % 2,484,483 2,496,675 10.25 2,500,000 V.F. Corporation November 13, 2023 5.497 % 2,479,375 2,483,875 10.20 2,500,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 2,477,084 2,487,537 10.22 2,500,000 Total Commercial Paper $ 9,424,792 $ 9,464,920 38.87 % Total Cash Equivalents $ 20,392,167 83.74 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures MAY24 301 $ 993,509 4.08 % $ 8,515,651 ICE sugar futures MAR25 321 872,940 3.58 8,552,981 Total commodity futures contracts $ 1,866,449 7.66 % $ 17,068,632 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 JUL24 268 $ 107,186 0.44 % $ 7,293,888 The accompanying notes are an integral part of these financial statements. TEUCRIUM SUGAR FUND 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. |
Note 1 - Organization and Ope_4
Note 1 - Organization and Operation - Teucrium Sugar Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009, six April 29, 2019, On June 7, 2010, 1 June 8, 2010, four June 9, 2010. April 7, 2022. On June 13, 2011, 1 September 16, 2011, two $2,500,000 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 accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC in its capacity as the Sponsor of the Trust 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 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, two September 19, 2011, April 7, 2022. The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor (“Sponsor”), may no |
Note 2 - Principal Contracts _4
Note 2 - Principal Contracts and Agreements - Teucrium Sugar Fund | 9 Months Ended |
Sep. 30, 2023 | |
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. 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 each Fund’s average daily net assets and an aggregate annual fee of $100,000 for all 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 as distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below. 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 $3.00 per round turn exclusive of pass-through fees for the exchange and the NFA. 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 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 combined statements of operations. A summary of these expenses is included below: Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 115,736 $ 151,161 $ 333,733 $ 280,651 Amount of Custody Services Waived $ 3,360 $ 7,455 $ 19,876 $ 35,556 Amount Recognized for Distribution Services $ 35,012 $ 53,835 $ 111,505 $ 147,890 Amount of Distribution Services Waived $ 1,835 $ 2,739 $ 6,771 $ 45,733 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 171 $ 550 $ 171 $ 550 Amount Recognized for Thales $ 54,612 $ 54,755 $ 92,190 $ 212,879 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 103,396 ( 1 September 15, 2022. |
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. 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. 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 each Fund’s average daily net assets and an aggregate annual fee of $100,000 for all 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 as distribution and marketing fees on the statements of operations. A summary of these expenses is included below. Marex Capital Markets, Inc. (“Marex”) and StoneX Financial Inc. (“StoneX”) serve as the Funds’ clearing brokers to execute and clear the futures contracts 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 $3.00 per round turn exclusive of pass-through fees for the exchange and the NFA. 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 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: Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Amount Recognized for Custody Services $ 5,799 $ 5,101 $ 18,037 $ 10,335 Amount of Custody Services Waived $ - $ - $ - $ 1,068 Amount Recognized for Distribution Services $ 2,439 $ 2,098 $ 6,146 $ 6,834 Amount of Distribution Services Waived $ - $ - $ - $ 3,331 Amount Recognized for Wilmington Trust $ 232 $ 550 $ 232 $ 550 Amount of Wilmington Trust Waived $ - $ - $ - $ - Amount Recognized for Thales $ 3,409 $ 1,943 $ 5,365 $ 10,642 Amount of Thales Waived $ - $ - $ - $ 4,427 |
Note 3 - Summary of Significa_4
Note 3 - Summary of Significant Accounting Policies - Teucrium Sugar Fund | 9 Months Ended |
Sep. 30, 2023 | |
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 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. The periods represented by the financial statements herein contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI for the months during which each Fund was in operation, except for eliminations for TAGS as explained below. Given the investment objective of TAGS as described in Note 1 four 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. Unrealized appreciation or depreciation on commodity and cryptocurrency futures contracts are reflected in the combined statements of operations as the difference between the original contract 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 combined statements of operations. Interest on cash equivalents with financial institutions are recognized on an accrual basis. The Funds 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 combined financial statements and reflected in cash and cash equivalents on the combined statements of assets and liabilities and on the combined 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 combined 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 combined 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 combined statements of operations as total brokerage commissions paid inclusive of unrealized loss for the three nine September 30, 2023 2022 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ 23,697 $ 2,220 $ 3,707 $ 40,896 $ - $ 593 $ 71,113 Three months ended September 30, 2022 (1) $ 54,746 $ 6,432 $ 5,436 $ 75,136 $ - $ 949 $ 142,699 Nine months ended September 30, 2023 $ 54,865 $ 10,999 $ 19,661 $ 85,354 $ - $ 1,970 $ 172,849 Nine months ended September 30, 2022 (1) $ 188,321 $ 21,638 $ 31,972 $ 354,679 $ - $ 949 $ 597,559 ( 1 September 15, 2022. 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 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 may 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 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 as of and for the three nine September 30, 2023 2022 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. If a Fund experienced redemptions that caused the number of Shares outstanding to decrease to the minimum level of Shares required to be outstanding, until the minimum number of Shares is again exceeded through the purchase of a new Creation Basket, 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 September 30, 2023 December 31, 2022 Money Market Funds $ 147,921,285 $ 188,640,417 Demand Deposit Savings Accounts 28,763,367 46,061,819 Commercial Paper 145,852,514 199,360,060 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 322,537,166 $ 434,062,296 Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement 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 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. 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 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 may not In addition, the Agricultural Funds, except for TAGS, which has no 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, the Financial Industry Regulatory Authority (“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. Each 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 not 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 Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Recognized Related Party Transactions $ 566,723 $ 638,361 $ 1,889,702 $ 2,055,991 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 498,171 ( 1 September 15, 2022. 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 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 ( 1 September 15, 2022. 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 amounts 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 September 30, 2023 December 31, 2022 no For the three nine September 30, 2023 December 31, 2022 not 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”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Teucrium Sugar 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. Unrealized appreciation or depreciation on commodity futures contracts are reflected in the statements of operations as the difference between the original contract 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. 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 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 for the three nine September 30, 2023 2022 CANE Three months ended September 30, 2023 $ 3,707 Three months ended September 30, 2022 $ 5,436 Nine months ended September 30, 2023 $ 19,661 Nine months ended September 30, 2022 $ 31,972 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 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 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 three nine September 30, 2023 2022 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 two 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 maturity dates of 90 not may, 90 not may not September 30, 2023 December 31, 2022 Money Market Funds $ 10,927,247 $ 9,920,499 Demand Deposit Savings Accounts 3,179,785 3,069,677 Commercial Paper 9,464,920 9,987,304 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 23,571,952 $ 22,977,480 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 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 Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not not Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 38,672 $ 24,638 $ 110,304 $ 96,060 Waived Related Party Transactions $ - $ - $ - $ 25,739 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 CANE Three months ended September 30, 2023 $ - Three months ended September 30, 2022 $ - Nine months ended September 30, 2023 $ - Nine months ended September 30, 2022 $ 78,237 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 September 30, 2023 December 31, 2022 no 1 2 For the three nine September 30, 2023 December 31, 2022 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 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. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Note 4 - Fair Value Measureme_4
Note 4 - Fair Value Measurements - Teucrium Sugar Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 Fair Value Measurements The Trust’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Trust’s significant accounting policies in Note 3. September 30, 2023 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of September 30, 2023 Cash Equivalents $ 293,773,799 $ - $ - $ 293,773,799 Commodity and Cryptocurrency Futures Contracts Soybean futures contracts 134,775 - - 134,775 Sugar futures contracts 1,866,449 - - 1,866,449 Bitcoin futures contracts 19,483 - - 19,483 Total $ 295,794,506 $ - $ - $ 295,794,506 Liabilities Level 1 Level 2 Level 3 Balance as of September 30, 2023 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Soybean futures contracts 510,168 - - 510,168 Sugar futures contracts 107,186 - - 107,186 Wheat futures contracts 23,185,502 - - 23,185,502 Total $ 25,923,738 $ - $ - $ 25,923,738 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 Cash Equivalents 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 For the three nine September 30, 2023 December 31, 2022 not 1 2 See the Fair Value - Definition and Hierarchy 3 |
Teucrium Sugar 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. September 30, 2023 December 31, 2022 September 30, 2023 Balance as of Assets: Level 1 Level 2 Level 3 September 30, 2023 Cash Equivalents $ 20,392,167 $ - $ - $ 20,392,167 Commodity Futures Contracts Sugar futures contracts 1,866,449 - - 1,866,449 Total $ 22,258,616 $ - $ - $ 22,258,616 Balance as of Liabilities Level 1 Level 2 Level 3 September 30, 2023 Commodity Futures Contracts Sugar futures contracts $ 107,186 $ - $ - $ 107,186 December 31, 2022 Balance as of Assets: Level 1 Level 2 Level 3 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 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2022 Sugar futures contracts $ 85,128 $ - $ - $ 85,128 For the three nine September 30, 2023 December 31, 2022 not See the Fair Value Definition and Hierarchy 3 |
Note 5 - Derivative Instrumen_4
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Sugar Fund | 9 Months Ended |
Sep. 30, 2023 | |
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 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 the inability of its counterparties to meet the terms of their contracts. For the three nine September 30, 2023 December 31, 2022 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 combined 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 combined statements of assets and liabilities as derivative contracts, categorized by primary underlying risk, and held by the FCMs, Marex, and StoneX as of September 30, 2023 December 31, 2022 no September 30, 2023 *The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 Soybean futures contracts $ 134,775 $ - $ 134,775 $ 134,775 $ - $ - Sugar futures contracts $ 1,866,449 $ - $ 1,866,449 $ 107,186 $ 997,931 $ 761,332 Bitcoin futures contracts $ 19,483 $ - $ 19,483 $ - $ - $ 19,483 Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 2,120,882 $ - $ 2,120,882 $ - $ 2,120,882 $ - Soybean futures contracts $ 510,168 $ - $ 510,168 $ 134,775 $ 375,393 $ - Sugar futures contracts $ 107,186 $ - $ 107,186 $ 107,186 $ - $ - Wheat futures contracts $ 23,185,502 $ - $ 23,185,502 $ - $ 23,185,502 $ - 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 $ - The following is a summary of realized and unrealized gains (losses) of the derivative instruments utilized by the Trust: Three months ended September 30, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (13,018,346 ) $ 11,306,711 Soybeans futures contracts 311,294 (507,789 ) Sugar futures contracts 2,271,032 934,750 Wheat futures contracts (32,283,536 ) 166,327 Bitcoin futures Contracts (176,608 ) (107,189 ) Total commodity and cryptocurrency futures contracts $ (42,896,164 ) $ 11,792,810 Three months ended September 30, 2022 1 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (10,344,285 ) $ 23,856,276 Soybeans futures contracts 977,658 (3,855,440 ) Sugar futures contracts (948,329 ) (1,014,429 ) Wheat futures contracts (92,957,415 ) 93,269,812 Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (103,278,313 ) $ 112,241,847 ( 1 September 15, 2022. Nine months ended September 30, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (24,479,726 ) $ (739,577 ) Soybeans futures contracts 270,814 (2,895,763 ) Sugar futures contracts 11,018,654 933,062 Wheat futures contracts (72,771,330 ) 34,604 Bitcoin futures Contracts 524,179 (9,669 ) Total commodity and cryptocurrency futures contracts $ (85,437,409 ) $ (2,677,343 ) Nine months ended September 30, 2022 1 Realized Gain (Loss) on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,678,780 $ (3,698,432 ) Soybeans futures contracts 10,675,505 (5,768,700 ) Sugar futures contracts (476,906 ) (2,281,371 ) Wheat futures contracts (53,537,910 ) (3,790,712 ) Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (14,666,473 ) $ (15,553,587 ) ( 1 September 15, 2022. Volume of Derivative Activities The average notional market value categorized by primary underlying risk for the futures contracts held was $352.7 million and $353.3 million respectively for the three nine September 30, 2023 three nine September 30, 2022 |
Teucrium Sugar 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 three nine September 30, 2023 December 31, 2022 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 September 30, 2023 December 31, 2022 *The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 $ 1,866,449 $ - $ 1,866,449 $ 107,186 $ 997,931 $ 761,332 Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 107,186 $ - $ 107,186 $ 107,186 $ - $ - 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 $ - $ - 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 commodity futures contracts categorized by primary underlying risk: Three months ended September 30, 2023 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ 2,271,032 $ 934,750 Three months ended September 30, 2022 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ (948,329 ) $ (1,014,429 ) Nine months ended September 30, 2023 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ 11,018,654 $ 933,062 Nine months ended September 30, 2022 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ (476,906 ) $ (2,281,371 ) Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held were $23.6 million and $27.3 million respectively for the three nine September 30, 2023 three nine September 30, 2022 |
Note 6 - Financial Highlights_3
Note 6 - Financial Highlights - Teucrium Sugar Fund | 9 Months Ended |
Sep. 30, 2023 | |
Teucrium Sugar Fund [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 for the three nine September 30, 2023 2022 Three months ended Three months ended Nine months ended Nine months ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Per Share Operation Performance Net asset value at beginning of period $ 12.70 $ 9.32 $ 9.51 $ 9.23 Income (loss) from investment operations: Investment income 0.18 0.05 0.45 0.07 Net realized and unrealized gain (loss) on commodity futures contracts 2.00 (0.60 ) 5.07 (0.45 ) Total expenses, net (0.12 ) (0.04 ) (0.28 ) (0.12 ) Net increase (decrease) in net asset value 2.06 (0.59 ) 5.24 (0.50 ) Net asset value at end of period $ 14.76 $ 8.73 $ 14.76 $ 8.73 Total Return 16.20 % -6.34 % 55.11 % -5.38 % Ratios to Average Net Assets (Annualized) Total expenses 3.44 % 1.81 % 3.04 % 2.12 % Total expenses, net 3.44 % 1.81 % 3.04 % 1.75 % Net investment income (loss) 1.82 % 0.28 % 1.86 % -0.71 % 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 | 9 Months Ended |
Sep. 30, 2023 | |
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 Funds, 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 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 - _3
Note 8 - Subsequent Events - Teucrium Sugar Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended September 30, 2023 no Trust: Nothing to report. CORN: Nothing to report. SOYB: Nothing to report. CANE: Nothing to report. WEAT: Nothing to report. TAGS: Nothing to report. DEFI: The total net assets of the Fund increased by $539,481, or 32%, for the period September 30, 2023 November 7, 2023. Teucrium Commodity Trust (“Target Trust’), on behalf of its series, Hashdex Bitcoin Futures ETF (“Target Fund”), and Tidal Commodities Trust I (“Acquiring Trust”), on behalf of its series, Hashdex Bitcoin Futures ETF (“Acquiring Fund”), entered into an Agreement and Plan of Partnership Merger and Liquidation dated as of October 30, 2023 ( January 3, 2024 ( Pursuant to the Plan of Merger, each Acquired Fund shareholder will receive one one The Merger will not not In connection with the Merger, the Acquiring Trust filed a Registration Statement on Form S- 4 No. 1 1 October 31, 2023 November 2, 2023, |
Teucrium Sugar Fund [Member] | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended September 30, 2023 no |
Schedule of Investments (Unau_4
Schedule of Investments (Unaudited) - Teucrium Wheat Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS September 30, 2023 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 70,144,326 $ 70,144,326 20.53 % 70,144,326 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 77,776,959 77,776,959 22.77 77,776,959 Total money market funds $ 147,921,285 $ 147,921,285 43.30 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 4,956,994 $ 4,992,180 1.46 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % 3,967,700 3,993,666 1.17 4,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 4,952,500 4,981,792 1.46 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 4,938,250 4,948,542 1.45 5,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 9,873,444 9,997,022 2.93 10,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 4,933,250 4,982,000 1.46 5,000,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 1.46 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 0.73 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 4,940,626 4,998,416 1.46 5,000,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 0.70 2,400,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 7,434,201 7,496,475 2.19 7,500,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 4,957,222 4,972,000 1.46 5,000,000 Hyundai Capital America November 13, 2023 5.509 % 7,405,500 7,451,625 2.18 7,500,000 Jabil Inc. October 13, 2023 5.793 % 14,945,375 14,971,500 4.38 15,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 1.46 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 9,937,932 9,986,700 2.92 10,000,000 National Fuel Gas Company October 17, 2023 5.754 % 9,954,406 9,974,845 2.92 10,000,000 National Fuel Gas Company October 19, 2023 5.755 % 7,463,445 7,478,775 2.19 7,500,000 V.F. Corporation November 13, 2023 5.497 % 4,958,750 4,967,750 1.45 5,000,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 1.45 5,000,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 9,908,335 9,950,147 2.91 10,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 9,861,057 9,903,064 2.90 10,000,000 Total Commercial Paper $ 145,108,778 $ 145,852,514 42.69 % Total Cash Equivalents $ 293,773,799 85.99 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.04 % $ 10,809,075 United States sugar futures contracts ICE sugar futures MAY24 301 993,509 0.29 8,515,651 ICE sugar futures MAR25 321 872,940 0.26 8,552,981 United States CME Bitcoin futures contracts CME Bitcoin futures OCT23 6 2,464 0.00 813,000 CME Bitcoin futures NOV23 6 17,019 0.00 818,250 Total commodity and cryptocurrency futures contracts $ 2,020,707 0.59 % $ 29,508,957 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 MAR 24 1,286 $ 1,365,651 0.40 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.06 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.16 31,652,400 United States soybean futures contracts CBOT soybean futures MAR24 142 465,562 0.14 9,302,775 CBOT soybean futures NOV24 176 44,606 0.01 11,088,000 United States sugar futures contracts ICE sugar futures JUL24 268 107,186 0.03 7,293,888 0.00 United States wheat futures contracts CBOT wheat futures MAR24 2,329 11,184,967 3.27 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 1.29 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 2.22 69,309,250 Total commodity and cryptocurrency futures contracts $ 25,923,738 7.58 % $ 311,956,976 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 5,670,302 1.66 % 257,033 Teucrium Soybean Fund 5,503,425 1.61 203,005 Teucrium Sugar Fund 5,479,366 1.60 371,271 Teucrium Wheat Fund 5,322,814 1.56 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 6.43 % *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 other four The accompanying notes are an integral part of these financial statements. TEUCRIUM COMMODITY TRUST 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 Wheat Fund [Member] | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | SCHEDULE OF INVESTMENTS September 30, 2023 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 43,069,070 $ 43,069,070 22.21 % 43,069,070 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 54,668,092 54,668,092 28.19 54,668,092 Total money market funds $ 97,737,162 $ 97,737,162 50.40 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 2,478,497 $ 2,496,090 1.29 % 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 2,476,250 2,490,896 1.28 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 2,469,125 2,474,271 1.28 2,500,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 4,936,722 4,998,511 2.58 5,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 2,466,625 2,491,000 1.28 2,500,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 2.57 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 1.28 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 2,470,313 2,499,208 1.29 2,500,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 4,956,134 4,997,650 2.58 5,000,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 2,478,611 2,486,000 1.28 2,500,000 Hyundai Capital America November 13, 2023 5.509 % 4,937,000 4,967,750 2.56 5,000,000 Jabil Inc. October 13, 2023 5.793 % 9,963,583 9,981,000 5.15 10,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 2.57 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 2,484,483 2,496,675 1.29 2,500,000 National Fuel Gas Company October 17, 2023 5.754 % 4,977,203 4,987,423 2.57 5,000,000 National Fuel Gas Company October 19, 2023 5.755 % 2,487,815 2,492,925 1.29 2,500,000 V.F. Corporation November 13, 2023 5.497 % 2,479,375 2,483,875 1.28 2,500,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 2.55 5,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 4,930,529 4,951,532 2.55 5,000,000 Total Commercial Paper $ 74,326,989 $ 74,701,941 38.52 % Total Cash Equivalents $ 172,439,103 88.92 % 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 MAR24 2,329 $ 11,184,967 5.77 % $ 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 2.28 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 3.90 69,309,250 Total commodity futures contracts $ 23,185,502 11.95 % $ 193,873,288 The accompanying notes are an integral part of these financial statements. TEUCRIUM WHEAT FUND 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. |
Note 1 - Organization and Ope_5
Note 1 - Organization and Operation - Teucrium Wheat Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009, six April 29, 2019, On June 7, 2010, 1 June 8, 2010, four June 9, 2010. April 7, 2022. On June 13, 2011, 1 September 16, 2011, two $2,500,000 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 accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC in its capacity as the Sponsor of the Trust 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 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, S1 September 19, 2011, September 19, 2011 December 31, 2010, four March 9, 2022. The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor (“Sponsor”), may no |
Note 2 - Principal Contracts _5
Note 2 - Principal Contracts and Agreements - Teucrium Wheat Fund | 9 Months Ended |
Sep. 30, 2023 | |
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. 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 each Fund’s average daily net assets and an aggregate annual fee of $100,000 for all 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 as distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below. 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 $3.00 per round turn exclusive of pass-through fees for the exchange and the NFA. 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 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 combined statements of operations. A summary of these expenses is included below: Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 115,736 $ 151,161 $ 333,733 $ 280,651 Amount of Custody Services Waived $ 3,360 $ 7,455 $ 19,876 $ 35,556 Amount Recognized for Distribution Services $ 35,012 $ 53,835 $ 111,505 $ 147,890 Amount of Distribution Services Waived $ 1,835 $ 2,739 $ 6,771 $ 45,733 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 171 $ 550 $ 171 $ 550 Amount Recognized for Thales $ 54,612 $ 54,755 $ 92,190 $ 212,879 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 103,396 ( 1 September 15, 2022. |
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. 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. 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 each Fund’s average daily net assets and an aggregate annual fee of $100,000 for all 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 as distribution and marketing fees on the statements of operations. A summary of these expenses is included below. Marex Capital Markets, Inc. (“Marex”) and StoneX Financial Inc. (“StoneX”) serve as the Funds’ clearing brokers to execute and clear futures contracts 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 $3.00 per round turn exclusive of pass-through fees for the exchange and the NFA. 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 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: Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Amount Recognized for Custody Services $ 56,664 $ 83,198 $ 173,789 $ 156,575 Amount of Custody Services Waived $ - $ - $ - $ 14,164 Amount Recognized for Distribution Services $ 17,900 $ 30,177 $ 58,623 $ 72,723 Amount of Distribution Services Waived $ - $ - $ - $ 14,931 Amount Recognized for Wilmington Trust $ 1,720 $ 550 $ 1,720 $ 550 Amount of Wilmington Trust Waived $ - $ - $ - $ - Amount Recognized for Thales $ 28,348 $ 31,037 $ 48,338 $ 97,518 Amount of Thales Waived $ - $ - $ - $ 66,481 |
Note 3 - Summary of Significa_5
Note 3 - Summary of Significant Accounting Policies - Teucrium Wheat Fund | 9 Months Ended |
Sep. 30, 2023 | |
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 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. The periods represented by the financial statements herein contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI for the months during which each Fund was in operation, except for eliminations for TAGS as explained below. Given the investment objective of TAGS as described in Note 1 four 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. Unrealized appreciation or depreciation on commodity and cryptocurrency futures contracts are reflected in the combined statements of operations as the difference between the original contract 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 combined statements of operations. Interest on cash equivalents with financial institutions are recognized on an accrual basis. The Funds 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 combined financial statements and reflected in cash and cash equivalents on the combined statements of assets and liabilities and on the combined 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 combined 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 combined 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 combined statements of operations as total brokerage commissions paid inclusive of unrealized loss for the three nine September 30, 2023 2022 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ 23,697 $ 2,220 $ 3,707 $ 40,896 $ - $ 593 $ 71,113 Three months ended September 30, 2022 (1) $ 54,746 $ 6,432 $ 5,436 $ 75,136 $ - $ 949 $ 142,699 Nine months ended September 30, 2023 $ 54,865 $ 10,999 $ 19,661 $ 85,354 $ - $ 1,970 $ 172,849 Nine months ended September 30, 2022 (1) $ 188,321 $ 21,638 $ 31,972 $ 354,679 $ - $ 949 $ 597,559 ( 1 September 15, 2022. 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 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 may 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 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 as of and for the three nine September 30, 2023 2022 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. If a Fund experienced redemptions that caused the number of Shares outstanding to decrease to the minimum level of Shares required to be outstanding, until the minimum number of Shares is again exceeded through the purchase of a new Creation Basket, 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 September 30, 2023 December 31, 2022 Money Market Funds $ 147,921,285 $ 188,640,417 Demand Deposit Savings Accounts 28,763,367 46,061,819 Commercial Paper 145,852,514 199,360,060 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 322,537,166 $ 434,062,296 Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement 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 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. 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 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 may not In addition, the Agricultural Funds, except for TAGS, which has no 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, the Financial Industry Regulatory Authority (“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. Each 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 not 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 Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Recognized Related Party Transactions $ 566,723 $ 638,361 $ 1,889,702 $ 2,055,991 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 498,171 ( 1 September 15, 2022. 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 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 ( 1 September 15, 2022. 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 amounts 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 September 30, 2023 December 31, 2022 no For the three nine September 30, 2023 December 31, 2022 not 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”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Teucrium Wheat 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. Unrealized appreciation or depreciation on commodity futures contracts are reflected in the statements of operations as the difference between the original contract 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. Interest on cash equivalents with financial institutions are recognized on an 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 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 for the three nine September 30, 2023 2022 WEAT Three months ended September 30, 2023 $ 40,896 Three months ended September 30, 2022 $ 75,136 Nine months ended September 30, 2023 $ 85,354 Nine months ended September 30, 2022 $ 354,679 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 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 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 three nine September 30, 2023 2022 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 two 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 maturity dates of 90 not may, 90 not may not September 30, 2023 December 31, 2022 Money Market Funds $ 97,737,162 $ 99,826,276 Demand Deposit Savings Accounts 10,097,641 12,309,984 Commercial Paper 74,701,941 97,594,565 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 182,536,744 $ 209,730,825 Payable for Purchases of Commercial Paper The amount recorded by the Fund for commercial paper transactions awaiting settlement, 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 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 Fund based on activity drivers deemed most appropriate by the Sponsor for such expenses, including but not not Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 288,121 $ 358,130 $ 983,183 $ 1,011,184 Waived Related Party Transactions $ - $ - $ - $ 224,587 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 WEAT Three months ended September 30, 2023 $ - Three months ended September 30, 2022 $ - Nine months ended September 30, 2023 $ - Nine months ended September 30, 2022 $ 425,164 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 September 30, 2023 December 31, 2022 no 1 2 For the three nine September 30, 2023 December 31, 2022 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 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. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Note 4 - Fair Value Measureme_5
Note 4 - Fair Value Measurements - Teucrium Wheat Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 Fair Value Measurements The Trust’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Trust’s significant accounting policies in Note 3. September 30, 2023 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of September 30, 2023 Cash Equivalents $ 293,773,799 $ - $ - $ 293,773,799 Commodity and Cryptocurrency Futures Contracts Soybean futures contracts 134,775 - - 134,775 Sugar futures contracts 1,866,449 - - 1,866,449 Bitcoin futures contracts 19,483 - - 19,483 Total $ 295,794,506 $ - $ - $ 295,794,506 Liabilities Level 1 Level 2 Level 3 Balance as of September 30, 2023 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Soybean futures contracts 510,168 - - 510,168 Sugar futures contracts 107,186 - - 107,186 Wheat futures contracts 23,185,502 - - 23,185,502 Total $ 25,923,738 $ - $ - $ 25,923,738 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 Cash Equivalents 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 For the three nine September 30, 2023 December 31, 2022 not 1 2 See the Fair Value - Definition and Hierarchy 3 |
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. September 30, 2023 December 31, 2022 September 30, 2023 Balance as of Assets: Level 1 Level 2 Level 3 September 30, 2023 Cash Equivalents $ 172,439,103 $ - $ - $ 172,439,103 Balance as of Liabilities Level 1 Level 2 Level 3 September 30, 2023 Commodity Futures Contracts Wheat futures contracts $ 23,185,502 $ - $ - $ 23,185,502 December 31, 2022 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2022 Cash Equivalents $ 197,420,841 $ - $ - $ 197,420,841 Commodity Futures Contracts Wheat futures contracts 3,160,732 - - 3,160,732 Total $ 200,581,573 $ - $ - $ 200,581,573 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2022 Wheat futures contracts $ 26,380,838 $ - $ - $ 26,380,838 For the three nine September 30, 2023 December 31, 2022 not See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Derivative Instrumen_5
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Wheat Fund | 9 Months Ended |
Sep. 30, 2023 | |
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 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 the inability of its counterparties to meet the terms of their contracts. For the three nine September 30, 2023 December 31, 2022 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 combined 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 combined statements of assets and liabilities as derivative contracts, categorized by primary underlying risk, and held by the FCMs, Marex, and StoneX as of September 30, 2023 December 31, 2022 no September 30, 2023 *The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 Soybean futures contracts $ 134,775 $ - $ 134,775 $ 134,775 $ - $ - Sugar futures contracts $ 1,866,449 $ - $ 1,866,449 $ 107,186 $ 997,931 $ 761,332 Bitcoin futures contracts $ 19,483 $ - $ 19,483 $ - $ - $ 19,483 Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 2,120,882 $ - $ 2,120,882 $ - $ 2,120,882 $ - Soybean futures contracts $ 510,168 $ - $ 510,168 $ 134,775 $ 375,393 $ - Sugar futures contracts $ 107,186 $ - $ 107,186 $ 107,186 $ - $ - Wheat futures contracts $ 23,185,502 $ - $ 23,185,502 $ - $ 23,185,502 $ - 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 $ - The following is a summary of realized and unrealized gains (losses) of the derivative instruments utilized by the Trust: Three months ended September 30, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (13,018,346 ) $ 11,306,711 Soybeans futures contracts 311,294 (507,789 ) Sugar futures contracts 2,271,032 934,750 Wheat futures contracts (32,283,536 ) 166,327 Bitcoin futures Contracts (176,608 ) (107,189 ) Total commodity and cryptocurrency futures contracts $ (42,896,164 ) $ 11,792,810 Three months ended September 30, 2022 1 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (10,344,285 ) $ 23,856,276 Soybeans futures contracts 977,658 (3,855,440 ) Sugar futures contracts (948,329 ) (1,014,429 ) Wheat futures contracts (92,957,415 ) 93,269,812 Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (103,278,313 ) $ 112,241,847 ( 1 September 15, 2022. Nine months ended September 30, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (24,479,726 ) $ (739,577 ) Soybeans futures contracts 270,814 (2,895,763 ) Sugar futures contracts 11,018,654 933,062 Wheat futures contracts (72,771,330 ) 34,604 Bitcoin futures Contracts 524,179 (9,669 ) Total commodity and cryptocurrency futures contracts $ (85,437,409 ) $ (2,677,343 ) Nine months ended September 30, 2022 1 Realized Gain (Loss) on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,678,780 $ (3,698,432 ) Soybeans futures contracts 10,675,505 (5,768,700 ) Sugar futures contracts (476,906 ) (2,281,371 ) Wheat futures contracts (53,537,910 ) (3,790,712 ) Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (14,666,473 ) $ (15,553,587 ) ( 1 September 15, 2022. Volume of Derivative Activities The average notional market value categorized by primary underlying risk for the futures contracts held was $352.7 million and $353.3 million respectively for the three nine September 30, 2023 three nine September 30, 2022 |
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 three nine September 30, 2023 December 31, 2022 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 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, Marex and StoneX as of September 30, 2023 December 31, 2022 *The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 23,185,502 $ - $ 23,185,502 $ - $ 23,185,502 $ - 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 $ - 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 commodity futures contracts categorized by primary underlying risk: Three months ended September 30, 2023 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ (32,283,536 ) $ 166,327 Three months ended September 30, 2022 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ (92,957,415 ) $ 93,269,812 Nine months ended September 30, 2023 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ (72,771,330 ) $ 34,604 Nine months ended September 30, 2022 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ (53,537,910 ) $ (3,790,712 ) Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $196.1 million and $180.5 million respectively, for the three nine September 30, 2023 three nine September 30, 2022 |
Note 6 - Financial Highlights_4
Note 6 - Financial Highlights - Teucrium Wheat Fund | 9 Months Ended |
Sep. 30, 2023 | |
Teucrium Wheat Fund [Member] | |
Notes to Financial Statements | |
Investment Company, Financial Highlights [Text Block] | Note 6 Financial Highlights The following tables present per unit performance data and other supplemental financial data for the three nine September 30, 2023 2022 Three months ended Three months ended Nine months ended Nine months ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Per Share Operation Performance Net asset value at beginning of period $ 6.46 $ 9.03 $ 7.99 $ 7.38 Income (loss) from investment operations: Investment income 0.08 0.04 0.23 0.07 Net realized and unrealized (loss) gain on commodity futures contracts (0.93 ) 0.13 (2.52 ) 1.83 Total expenses, net (0.04 ) (0.04 ) (0.13 ) (0.12 ) Net (decrease) increase in net asset value (0.89 ) 0.13 (2.42 ) 1.78 Net asset value at end of period $ 5.57 $ 9.16 $ 5.57 $ 9.16 Total Return -13.81 % 1.44 % -30.25 % 24.20 % Ratios to Average Net Assets (Annualized) Total expenses 2.68 % 2.02 % 2.67 % 1.84 % Total expenses, net 2.68 % 2.02 % 2.67 % 1.69 % Net investment income (loss) 2.50 % 0.01 % 2.13 % -0.63 % 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 | 9 Months Ended |
Sep. 30, 2023 | |
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 Funds, 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 will not |
Note 8 - Subsequent Events - _4
Note 8 - Subsequent Events - Teucrium Wheat Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended September 30, 2023 no Trust: Nothing to report. CORN: Nothing to report. SOYB: Nothing to report. CANE: Nothing to report. WEAT: Nothing to report. TAGS: Nothing to report. DEFI: The total net assets of the Fund increased by $539,481, or 32%, for the period September 30, 2023 November 7, 2023. Teucrium Commodity Trust (“Target Trust’), on behalf of its series, Hashdex Bitcoin Futures ETF (“Target Fund”), and Tidal Commodities Trust I (“Acquiring Trust”), on behalf of its series, Hashdex Bitcoin Futures ETF (“Acquiring Fund”), entered into an Agreement and Plan of Partnership Merger and Liquidation dated as of October 30, 2023 ( January 3, 2024 ( Pursuant to the Plan of Merger, each Acquired Fund shareholder will receive one one The Merger will not not In connection with the Merger, the Acquiring Trust filed a Registration Statement on Form S- 4 No. 1 1 October 31, 2023 November 2, 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 quarter-ended September 30, 2023 no |
Schedule of Investments (Unau_5
Schedule of Investments (Unaudited) - Teucrium Agricultural Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS September 30, 2023 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 70,144,326 $ 70,144,326 20.53 % 70,144,326 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 77,776,959 77,776,959 22.77 77,776,959 Total money market funds $ 147,921,285 $ 147,921,285 43.30 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 4,956,994 $ 4,992,180 1.46 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % 3,967,700 3,993,666 1.17 4,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 4,952,500 4,981,792 1.46 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 4,938,250 4,948,542 1.45 5,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 9,873,444 9,997,022 2.93 10,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 4,933,250 4,982,000 1.46 5,000,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 1.46 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 0.73 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 4,940,626 4,998,416 1.46 5,000,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 0.70 2,400,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 7,434,201 7,496,475 2.19 7,500,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 4,957,222 4,972,000 1.46 5,000,000 Hyundai Capital America November 13, 2023 5.509 % 7,405,500 7,451,625 2.18 7,500,000 Jabil Inc. October 13, 2023 5.793 % 14,945,375 14,971,500 4.38 15,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 1.46 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 9,937,932 9,986,700 2.92 10,000,000 National Fuel Gas Company October 17, 2023 5.754 % 9,954,406 9,974,845 2.92 10,000,000 National Fuel Gas Company October 19, 2023 5.755 % 7,463,445 7,478,775 2.19 7,500,000 V.F. Corporation November 13, 2023 5.497 % 4,958,750 4,967,750 1.45 5,000,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 1.45 5,000,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 9,908,335 9,950,147 2.91 10,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 9,861,057 9,903,064 2.90 10,000,000 Total Commercial Paper $ 145,108,778 $ 145,852,514 42.69 % Total Cash Equivalents $ 293,773,799 85.99 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.04 % $ 10,809,075 United States sugar futures contracts ICE sugar futures MAY24 301 993,509 0.29 8,515,651 ICE sugar futures MAR25 321 872,940 0.26 8,552,981 United States CME Bitcoin futures contracts CME Bitcoin futures OCT23 6 2,464 0.00 813,000 CME Bitcoin futures NOV23 6 17,019 0.00 818,250 Total commodity and cryptocurrency futures contracts $ 2,020,707 0.59 % $ 29,508,957 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 MAR 24 1,286 $ 1,365,651 0.40 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.06 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.16 31,652,400 United States soybean futures contracts CBOT soybean futures MAR24 142 465,562 0.14 9,302,775 CBOT soybean futures NOV24 176 44,606 0.01 11,088,000 United States sugar futures contracts ICE sugar futures JUL24 268 107,186 0.03 7,293,888 0.00 United States wheat futures contracts CBOT wheat futures MAR24 2,329 11,184,967 3.27 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 1.29 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 2.22 69,309,250 Total commodity and cryptocurrency futures contracts $ 25,923,738 7.58 % $ 311,956,976 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 5,670,302 1.66 % 257,033 Teucrium Soybean Fund 5,503,425 1.61 203,005 Teucrium Sugar Fund 5,479,366 1.60 371,271 Teucrium Wheat Fund 5,322,814 1.56 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 6.43 % *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 other four The accompanying notes are an integral part of these financial statements. TEUCRIUM COMMODITY TRUST 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 Agricultural Fund [Member] | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | SCHEDULE OF INVESTMENTS September 30, 2023 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Exchange-traded funds Teucrium Corn Fund $ 5,670,302 25.79 % 257,033 Teucrium Soybean Fund 5,503,425 25.03 203,005 Teucrium Sugar Fund 5,479,366 24.92 371,271 Teucrium Wheat Fund 5,322,814 24.21 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 99.95 % Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 10,159 $ 10,159 0.05 % 10,159 The accompanying notes are an integral part of these financial statements. TEUCRIUM AGRICULTURAL FUND 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. |
Note 1 - Organization and Ope_6
Note 1 - Organization and Operation - Teucrium Agricultural Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009, six April 29, 2019, On June 7, 2010, 1 June 8, 2010, four June 9, 2010. April 7, 2022. On June 13, 2011, 1 September 16, 2011, two $2,500,000 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 accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC in its capacity as the Sponsor of the Trust may no |
Teucrium Agricultural Fund [Member] | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation 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, two 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 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 the 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 The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. 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 Organization and Operation 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 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, four June 9, 2010. April 7, 2022. The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. 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 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, S1 September 19, 2011, September 19, 2011 December 31, 2010, four March 9, 2022. The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. 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 Organization and Operation 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 SOYB Benchmark CBOT Soybean 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, two September 19, 2011, April 7, 2022. The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. 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 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, two September 19, 2011, April 7, 2022. The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC, in its capacity as the Sponsor (“Sponsor”), may no |
Note 2 - Principal Contracts _6
Note 2 - Principal Contracts and Agreements - Teucrium Agricultural Fund | 9 Months Ended |
Sep. 30, 2023 | |
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. 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 each Fund’s average daily net assets and an aggregate annual fee of $100,000 for all 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 as distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below. 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 $3.00 per round turn exclusive of pass-through fees for the exchange and the NFA. 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 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 combined statements of operations. A summary of these expenses is included below: Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 115,736 $ 151,161 $ 333,733 $ 280,651 Amount of Custody Services Waived $ 3,360 $ 7,455 $ 19,876 $ 35,556 Amount Recognized for Distribution Services $ 35,012 $ 53,835 $ 111,505 $ 147,890 Amount of Distribution Services Waived $ 1,835 $ 2,739 $ 6,771 $ 45,733 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 171 $ 550 $ 171 $ 550 Amount Recognized for Thales $ 54,612 $ 54,755 $ 92,190 $ 212,879 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 103,396 ( 1 September 15, 2022. |
Teucrium Agricultural Fund [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. 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 each Fund’s average daily net assets and an aggregate annual fee of $100,000 for all 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 as distribution and marketing fees on the statements of operations. A summary of these expenses is included below. Marex Capital Markets, Inc. (“Marex”) and StoneX Financial Inc. (“StoneX”) serve as the Underlying Funds’ clearing brokers to execute and clear the Underlying Funds’ futures 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 $3.00 per round turn exclusive of pass-through fees for the exchange and the NFA. 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 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: Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Amount Recognized for Custody Services $ 3,942 $ 7,455 $ 19,341 $ 12,324 Amount of Custody Services Waived $ 2,750 $ 7,455 $ 18,149 $ 12,324 Amount Recognized for Distribution Services $ 1,619 $ 2,739 $ 6,271 $ 6,499 Amount of Distribution Services Waived $ 1,619 $ 2,739 $ 6,271 $ 6,499 Amount Recognized for Wilmington Trust $ 145 $ 550 $ 145 $ 550 Amount of Wilmington Trust Waived $ 145 $ - $ 145 $ - Amount Recognized for Thales $ 3,108 $ 2,745 $ 5,367 $ 9,000 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 5,295 |
Note 3 - Summary of Significa_6
Note 3 - Summary of Significant Accounting Policies - Teucrium Agricultural Fund | 9 Months Ended |
Sep. 30, 2023 | |
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 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. The periods represented by the financial statements herein contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI for the months during which each Fund was in operation, except for eliminations for TAGS as explained below. Given the investment objective of TAGS as described in Note 1 four 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. Unrealized appreciation or depreciation on commodity and cryptocurrency futures contracts are reflected in the combined statements of operations as the difference between the original contract 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 combined statements of operations. Interest on cash equivalents with financial institutions are recognized on an accrual basis. The Funds 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 combined financial statements and reflected in cash and cash equivalents on the combined statements of assets and liabilities and on the combined 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 combined 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 combined 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 combined statements of operations as total brokerage commissions paid inclusive of unrealized loss for the three nine September 30, 2023 2022 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ 23,697 $ 2,220 $ 3,707 $ 40,896 $ - $ 593 $ 71,113 Three months ended September 30, 2022 (1) $ 54,746 $ 6,432 $ 5,436 $ 75,136 $ - $ 949 $ 142,699 Nine months ended September 30, 2023 $ 54,865 $ 10,999 $ 19,661 $ 85,354 $ - $ 1,970 $ 172,849 Nine months ended September 30, 2022 (1) $ 188,321 $ 21,638 $ 31,972 $ 354,679 $ - $ 949 $ 597,559 ( 1 September 15, 2022. 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 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 may 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 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 as of and for the three nine September 30, 2023 2022 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. If a Fund experienced redemptions that caused the number of Shares outstanding to decrease to the minimum level of Shares required to be outstanding, until the minimum number of Shares is again exceeded through the purchase of a new Creation Basket, 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 September 30, 2023 December 31, 2022 Money Market Funds $ 147,921,285 $ 188,640,417 Demand Deposit Savings Accounts 28,763,367 46,061,819 Commercial Paper 145,852,514 199,360,060 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 322,537,166 $ 434,062,296 Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement 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 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. 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 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 may not In addition, the Agricultural Funds, except for TAGS, which has no 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, the Financial Industry Regulatory Authority (“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. Each 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 not 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 Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Recognized Related Party Transactions $ 566,723 $ 638,361 $ 1,889,702 $ 2,055,991 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 498,171 ( 1 September 15, 2022. 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 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 ( 1 September 15, 2022. 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 amounts 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 September 30, 2023 December 31, 2022 no For the three nine September 30, 2023 December 31, 2022 not 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”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Teucrium Agricultural 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 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. 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 2020 December 31, 2022 fifty not September 30, 2023 December 31, 2022 2021 2020 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 three nine September 30, 2023 2022 The Fund may may Creations and Redemptions Effective August 28, 2018, 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 four 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, September 30, 2023 December 31, 2022 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 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 Funds 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 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 Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 26,482 $ 32,419 $ 105,812 $ 90,610 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 66,068 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 TAGS Three months ended September 30, 2023 $ 77,482 Three months ended September 30, 2022 $ 62,059 Nine months ended September 30, 2023 $ 355,731 Nine months ended September 30, 2022 $ 176,222 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”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 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 September 30, 2023 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_6
Note 4 - Fair Value Measurements - Teucrium Agricultural Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 Fair Value Measurements The Trust’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Trust’s significant accounting policies in Note 3. September 30, 2023 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of September 30, 2023 Cash Equivalents $ 293,773,799 $ - $ - $ 293,773,799 Commodity and Cryptocurrency Futures Contracts Soybean futures contracts 134,775 - - 134,775 Sugar futures contracts 1,866,449 - - 1,866,449 Bitcoin futures contracts 19,483 - - 19,483 Total $ 295,794,506 $ - $ - $ 295,794,506 Liabilities Level 1 Level 2 Level 3 Balance as of September 30, 2023 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Soybean futures contracts 510,168 - - 510,168 Sugar futures contracts 107,186 - - 107,186 Wheat futures contracts 23,185,502 - - 23,185,502 Total $ 25,923,738 $ - $ - $ 25,923,738 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 Cash Equivalents 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 For the three nine September 30, 2023 December 31, 2022 not 1 2 See the Fair Value - Definition and Hierarchy 3 |
Teucrium Agricultural 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. September 30, 2023 December 31, 2022 September 30, 2023 Balance as of Assets: Level 1 Level 2 Level 3 September 30, 2023 Exchange Traded Funds $ 21,975,907 $ - $ - $ 21,975,907 Cash Equivalents 10,159 - - 10,159 Total $ 21,986,066 $ - $ - $ 21,986,066 December 31, 2022 Balance as of Assets: Level 1 Level 2 Level 3 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 For the three nine September 30, 2023 December 31, 2022 not See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Financial Highlights -
Note 5 - Financial Highlights - Teucrium Agricultural Fund | 9 Months Ended |
Sep. 30, 2023 | |
Teucrium Agricultural Fund [Member] | |
Notes to Financial Statements | |
Investment Company, Financial Highlights [Text Block] | Note 5 Financial Highlights The following table presents per unit performance data and other supplemental financial data for the three nine September 30, 2023 2022 Three months ended Three months ended Nine months ended Nine months ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Per Share Operation Performance Net asset value at beginning of period $ 30.33 $ 31.09 $ 31.35 $ 27.01 Income (loss) from investment operations: Net realized and unrealized (loss) gain on investment transactions 0.00 (0.01 ) (1.00 ) 4.09 Total expenses, net 0.00 (0.01 ) (0.02 ) (0.03 ) Net increase (decrease) in net asset value - (0.02 ) (1.02 ) 4.06 Net asset value at end of period $ 30.33 $ 31.07 $ 30.33 $ 31.07 Total Return -0.02 % -0.05 % -3.25 % 15.04 % Ratios to Average Net Assets (Annualized) Total expenses 1.42 % 0.66 % 1.67 % 0.80 % Total expenses, net 0.09 % 0.13 % 0.09 % 0.14 % Net investment loss -0.09 % -0.13 % -0.09 % -0.14 % 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 | 9 Months Ended |
Sep. 30, 2023 | |
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 Funds, 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 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 7 - Subsequent Events - Te
Note 7 - Subsequent Events - Teucrium Agricultural Fund | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended September 30, 2023 no Trust: Nothing to report. CORN: Nothing to report. SOYB: Nothing to report. CANE: Nothing to report. WEAT: Nothing to report. TAGS: Nothing to report. DEFI: The total net assets of the Fund increased by $539,481, or 32%, for the period September 30, 2023 November 7, 2023. Teucrium Commodity Trust (“Target Trust’), on behalf of its series, Hashdex Bitcoin Futures ETF (“Target Fund”), and Tidal Commodities Trust I (“Acquiring Trust”), on behalf of its series, Hashdex Bitcoin Futures ETF (“Acquiring Fund”), entered into an Agreement and Plan of Partnership Merger and Liquidation dated as of October 30, 2023 ( January 3, 2024 ( Pursuant to the Plan of Merger, each Acquired Fund shareholder will receive one one The Merger will not not In connection with the Merger, the Acquiring Trust filed a Registration Statement on Form S- 4 No. 1 1 October 31, 2023 November 2, 2023, |
Teucrium Agricultural Fund [Member] | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 7 Subsequent Events Management has evaluated the financial statements for the quarter-ended September 30, 2023 no |
Schedule of Investments (Unau_6
Schedule of Investments (Unaudited) - Hashdex Bitcoin Futures ETF | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS September 30, 2023 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 70,144,326 $ 70,144,326 20.53 % 70,144,326 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 77,776,959 77,776,959 22.77 77,776,959 Total money market funds $ 147,921,285 $ 147,921,285 43.30 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 4,956,994 $ 4,992,180 1.46 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % 3,967,700 3,993,666 1.17 4,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 4,952,500 4,981,792 1.46 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 4,938,250 4,948,542 1.45 5,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 9,873,444 9,997,022 2.93 10,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 4,933,250 4,982,000 1.46 5,000,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 1.46 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 0.73 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 4,940,626 4,998,416 1.46 5,000,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 0.70 2,400,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 7,434,201 7,496,475 2.19 7,500,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 4,957,222 4,972,000 1.46 5,000,000 Hyundai Capital America November 13, 2023 5.509 % 7,405,500 7,451,625 2.18 7,500,000 Jabil Inc. October 13, 2023 5.793 % 14,945,375 14,971,500 4.38 15,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 1.46 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 9,937,932 9,986,700 2.92 10,000,000 National Fuel Gas Company October 17, 2023 5.754 % 9,954,406 9,974,845 2.92 10,000,000 National Fuel Gas Company October 19, 2023 5.755 % 7,463,445 7,478,775 2.19 7,500,000 V.F. Corporation November 13, 2023 5.497 % 4,958,750 4,967,750 1.45 5,000,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 1.45 5,000,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 9,908,335 9,950,147 2.91 10,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 9,861,057 9,903,064 2.90 10,000,000 Total Commercial Paper $ 145,108,778 $ 145,852,514 42.69 % Total Cash Equivalents $ 293,773,799 85.99 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.04 % $ 10,809,075 United States sugar futures contracts ICE sugar futures MAY24 301 993,509 0.29 8,515,651 ICE sugar futures MAR25 321 872,940 0.26 8,552,981 United States CME Bitcoin futures contracts CME Bitcoin futures OCT23 6 2,464 0.00 813,000 CME Bitcoin futures NOV23 6 17,019 0.00 818,250 Total commodity and cryptocurrency futures contracts $ 2,020,707 0.59 % $ 29,508,957 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 MAR 24 1,286 $ 1,365,651 0.40 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.06 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.16 31,652,400 United States soybean futures contracts CBOT soybean futures MAR24 142 465,562 0.14 9,302,775 CBOT soybean futures NOV24 176 44,606 0.01 11,088,000 United States sugar futures contracts ICE sugar futures JUL24 268 107,186 0.03 7,293,888 0.00 United States wheat futures contracts CBOT wheat futures MAR24 2,329 11,184,967 3.27 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 1.29 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 2.22 69,309,250 Total commodity and cryptocurrency futures contracts $ 25,923,738 7.58 % $ 311,956,976 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 5,670,302 1.66 % 257,033 Teucrium Soybean Fund 5,503,425 1.61 203,005 Teucrium Sugar Fund 5,479,366 1.60 371,271 Teucrium Wheat Fund 5,322,814 1.56 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 6.43 % *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 other four The accompanying notes are an integral part of these financial statements. TEUCRIUM COMMODITY TRUST 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. |
Hashdex Bitcoin Futures ETF [Member] | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | SCHEDULE OF INVESTMENTS September 30, 2023 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 1,181,822 $ 1,181,822 70.68 % 1,181,822 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 OCT23 6 $ 2,464 0.15 % $ 813,000 CME Bitcoin futures NOV23 6 17,019 1.02 818,250 Total cryptocurrency futures contracts $ 19,483 1.17 % $ 1,631,250 The accompanying notes are an integral part of these financial statements. HASHDEX BITCOIN FUTURES ETF 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 |
Note 1 - Organization and Ope_7
Note 1 - Organization and Operation - Hashdex Bitcoin Futures ETF | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Operation Teucrium Commodity Trust (“Trust”), a Delaware statutory trust organized on September 11, 2009, six April 29, 2019, On June 7, 2010, 1 June 8, 2010, four June 9, 2010. April 7, 2022. On June 13, 2011, 1 September 16, 2011, two $2,500,000 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 accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. Subject to the terms of the Trust Agreement, Teucrium Trading, LLC in its capacity as the Sponsor of the Trust 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 16, 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 two one DEFI Benchmark CME Bitcoin Futures Contracts Weighting First to expire 50 % Second to expire 50 % The accompanying unaudited financial statements have been prepared in accordance with Rule 10 01 X not 10 1 three nine September 30, 2023 not December 31, 2023. 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 | 9 Months Ended |
Sep. 30, 2023 | |
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. 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 each Fund’s average daily net assets and an aggregate annual fee of $100,000 for all 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 as distribution and marketing fees on the combined statements of operations. A summary of these expenses is included below. 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 $3.00 per round turn exclusive of pass-through fees for the exchange and the NFA. 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 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 combined statements of operations. A summary of these expenses is included below: Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 115,736 $ 151,161 $ 333,733 $ 280,651 Amount of Custody Services Waived $ 3,360 $ 7,455 $ 19,876 $ 35,556 Amount Recognized for Distribution Services $ 35,012 $ 53,835 $ 111,505 $ 147,890 Amount of Distribution Services Waived $ 1,835 $ 2,739 $ 6,771 $ 45,733 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 171 $ 550 $ 171 $ 550 Amount Recognized for Thales $ 54,612 $ 54,755 $ 92,190 $ 212,879 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 103,396 ( 1 September 15, 2022. |
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. 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. Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 610 $ - $ 1,727 $ - Amount of Custody Services Waived $ 610 $ - $ 1,727 $ - Amount Recognized for Distribution Services $ 216 $ - $ 500 $ - Amount of Distribution Services Waived $ 216 $ - $ 500 $ - Amount Recognized for Wilmington Trust $ 26 $ 550 $ 26 $ 550 Amount of Wilmington Trust Waived $ 26 $ 550 $ 26 $ 550 ( 1 September 15, 2022. |
Note 3 - Summary of Significa_7
Note 3 - Summary of Significant Accounting Policies - Hashdex Bitcoin Futures ETF | 9 Months Ended |
Sep. 30, 2023 | |
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 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. The periods represented by the financial statements herein contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI for the months during which each Fund was in operation, except for eliminations for TAGS as explained below. Given the investment objective of TAGS as described in Note 1 four 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. Unrealized appreciation or depreciation on commodity and cryptocurrency futures contracts are reflected in the combined statements of operations as the difference between the original contract 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 combined statements of operations. Interest on cash equivalents with financial institutions are recognized on an accrual basis. The Funds 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 combined financial statements and reflected in cash and cash equivalents on the combined statements of assets and liabilities and on the combined 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 combined 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 combined 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 combined statements of operations as total brokerage commissions paid inclusive of unrealized loss for the three nine September 30, 2023 2022 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ 23,697 $ 2,220 $ 3,707 $ 40,896 $ - $ 593 $ 71,113 Three months ended September 30, 2022 (1) $ 54,746 $ 6,432 $ 5,436 $ 75,136 $ - $ 949 $ 142,699 Nine months ended September 30, 2023 $ 54,865 $ 10,999 $ 19,661 $ 85,354 $ - $ 1,970 $ 172,849 Nine months ended September 30, 2022 (1) $ 188,321 $ 21,638 $ 31,972 $ 354,679 $ - $ 949 $ 597,559 ( 1 September 15, 2022. 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 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 may 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 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 as of and for the three nine September 30, 2023 2022 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. If a Fund experienced redemptions that caused the number of Shares outstanding to decrease to the minimum level of Shares required to be outstanding, until the minimum number of Shares is again exceeded through the purchase of a new Creation Basket, 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 September 30, 2023 December 31, 2022 Money Market Funds $ 147,921,285 $ 188,640,417 Demand Deposit Savings Accounts 28,763,367 46,061,819 Commercial Paper 145,852,514 199,360,060 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 322,537,166 $ 434,062,296 Payable for Purchases of Commercial Paper The amount recorded by the Trust for commercial paper transactions awaiting settlement 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 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. 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 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 may not In addition, the Agricultural Funds, except for TAGS, which has no 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, the Financial Industry Regulatory Authority (“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. Each 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 not 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 Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Recognized Related Party Transactions $ 566,723 $ 638,361 $ 1,889,702 $ 2,055,991 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 498,171 ( 1 September 15, 2022. 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 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 ( 1 September 15, 2022. 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 amounts 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 September 30, 2023 December 31, 2022 no For the three nine September 30, 2023 December 31, 2022 not 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”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; 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 for the quarter ended September 30, 2023 DEFI Three months ended September 30, 2023 $ 593 Three months ended September 30, 2022 (1) $ 949 Nine months ended September 30, 2023 $ 1,970 Nine months ended September 30, 2022 (1) $ 949 ( 1 September 15, 2022. 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 is required to determine whether a tax position is more likely than not may December 31, 2022 fifty not September 30, 2023 December 31, 2022 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 a September 30, 2023 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 five 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, September 30, 2023 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 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 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 Three months ended September 30, 2023 $ 91,023 Three months ended September 30, 2022 (1) $ 550 Nine months ended September 30, 2023 $ 222,642 Nine months ended September 30, 2022 (1) $ 550 ( 1 September 15, 2022. 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”) issued ASU 2023 01, 842 842 March 31, 2023; 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 September 30, 2023 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 | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 Fair Value Measurements The Trust’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Trust’s significant accounting policies in Note 3. September 30, 2023 December 31, 2022 Assets: Level 1 Level 2 Level 3 Balance as of September 30, 2023 Cash Equivalents $ 293,773,799 $ - $ - $ 293,773,799 Commodity and Cryptocurrency Futures Contracts Soybean futures contracts 134,775 - - 134,775 Sugar futures contracts 1,866,449 - - 1,866,449 Bitcoin futures contracts 19,483 - - 19,483 Total $ 295,794,506 $ - $ - $ 295,794,506 Liabilities Level 1 Level 2 Level 3 Balance as of September 30, 2023 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Soybean futures contracts 510,168 - - 510,168 Sugar futures contracts 107,186 - - 107,186 Wheat futures contracts 23,185,502 - - 23,185,502 Total $ 25,923,738 $ - $ - $ 25,923,738 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 Cash Equivalents 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 For the three nine September 30, 2023 December 31, 2022 not 1 2 See the Fair Value - Definition and Hierarchy 3 |
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. September 30, 2023 December 31, 2022 September 30, 2023 Balance as of Assets: Level 1 Level 2 Level 3 September 30, 2023 Cash Equivalents $ 1,181,822 $ - $ - $ 1,181,822 Cryptocurrency Futures Contracts Bitcoin futures contracts 19,483 - - 19,483 Total $ 1,201,305 $ - $ - $ 1,201,305 December 31, 2022 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2022 Cash Equivalents $ 701,969 $ - $ - $ 701,969 Bitcoin futures contracts 29,152 - - 29,152 Total $ 731,121 $ - $ - $ 731,121 For the three nine September 30, 2023 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 | 9 Months Ended |
Sep. 30, 2023 | |
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 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 the inability of its counterparties to meet the terms of their contracts. For the three nine September 30, 2023 December 31, 2022 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 combined 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 combined statements of assets and liabilities as derivative contracts, categorized by primary underlying risk, and held by the FCMs, Marex, and StoneX as of September 30, 2023 December 31, 2022 no September 30, 2023 *The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 Soybean futures contracts $ 134,775 $ - $ 134,775 $ 134,775 $ - $ - Sugar futures contracts $ 1,866,449 $ - $ 1,866,449 $ 107,186 $ 997,931 $ 761,332 Bitcoin futures contracts $ 19,483 $ - $ 19,483 $ - $ - $ 19,483 Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 2,120,882 $ - $ 2,120,882 $ - $ 2,120,882 $ - Soybean futures contracts $ 510,168 $ - $ 510,168 $ 134,775 $ 375,393 $ - Sugar futures contracts $ 107,186 $ - $ 107,186 $ 107,186 $ - $ - Wheat futures contracts $ 23,185,502 $ - $ 23,185,502 $ - $ 23,185,502 $ - 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 $ - The following is a summary of realized and unrealized gains (losses) of the derivative instruments utilized by the Trust: Three months ended September 30, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (13,018,346 ) $ 11,306,711 Soybeans futures contracts 311,294 (507,789 ) Sugar futures contracts 2,271,032 934,750 Wheat futures contracts (32,283,536 ) 166,327 Bitcoin futures Contracts (176,608 ) (107,189 ) Total commodity and cryptocurrency futures contracts $ (42,896,164 ) $ 11,792,810 Three months ended September 30, 2022 1 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (10,344,285 ) $ 23,856,276 Soybeans futures contracts 977,658 (3,855,440 ) Sugar futures contracts (948,329 ) (1,014,429 ) Wheat futures contracts (92,957,415 ) 93,269,812 Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (103,278,313 ) $ 112,241,847 ( 1 September 15, 2022. Nine months ended September 30, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (24,479,726 ) $ (739,577 ) Soybeans futures contracts 270,814 (2,895,763 ) Sugar futures contracts 11,018,654 933,062 Wheat futures contracts (72,771,330 ) 34,604 Bitcoin futures Contracts 524,179 (9,669 ) Total commodity and cryptocurrency futures contracts $ (85,437,409 ) $ (2,677,343 ) Nine months ended September 30, 2022 1 Realized Gain (Loss) on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,678,780 $ (3,698,432 ) Soybeans futures contracts 10,675,505 (5,768,700 ) Sugar futures contracts (476,906 ) (2,281,371 ) Wheat futures contracts (53,537,910 ) (3,790,712 ) Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (14,666,473 ) $ (15,553,587 ) ( 1 September 15, 2022. Volume of Derivative Activities The average notional market value categorized by primary underlying risk for the futures contracts held was $352.7 million and $353.3 million respectively for the three nine September 30, 2023 three nine September 30, 2022 |
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 quarter ended September 30, 2023 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 September 30, 2023 *The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 $ 19,483 $ - $ 19,483 $ - $ - $ 19,483 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 from 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: Three months ended September 30, 2023 Realized Loss on Cryptocurrency Futures Contracts Net Change in Unrealized Depreciation on Cryptocurrency Futures Contracts Cryptocurrency Price Bitcoin futures Contracts $ (176,608 ) $ (107,189 ) Nine months ended September 30, 2023 Realized Loss on Cryptocurrency Futures Contracts Net Change in Unrealized Depreciation on Cryptocurrency Futures Contracts Cryptocurrency Price Bitcoin futures Contracts $ 524,179 $ (9,669 ) From the commencement of operations ( September 15, 2022) September 30, 2022 Realized Loss on Cryptocurrency Futures Contracts Net Change in Unrealized Depreciation on Cryptocurrency Futures Contracts Cryptocurrency Price Bitcoin futures Contracts $ (5,942 ) $ (14,372 ) Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $1.7 million and $1.8 million, respectively, for the three nine September 30, 2023 September 15, 2022) September 30, 2022. |
Note 6 - Financial Highlights_5
Note 6 - Financial Highlights - Hashdex Bitcoin Futures ETF | 9 Months Ended |
Sep. 30, 2023 | |
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 for the three nine September 30, 2023 September 15, 2022) September 30, 2022. Three months ended Nine months ended From the commencement of operations (September 15, 2022) September 30, 2023 September 30, 2023 through September 30, 2022 Per Share Operation Performance Net asset value at beginning of period $ 38.78 $ 21.40 $ 25.00 Income (loss) from investment operations: Investment income 0.42 1.06 0.03 Net realized and unrealized (loss) gain on cryptocurrency futures contracts (5.68 ) 11.21 (0.41 ) Total expenses, net (0.08 ) (0.23 ) (0.01 ) Net (decrease) increase in net asset value (5.34 ) 12.04 (0.39 ) Net asset value at end of period $ 33.44 $ 33.44 $ 24.61 Total Return -13.76 % 56.23 % -1.57 % Ratios to Average Net Assets (Annualized) Total expenses 21.29 % 17.69 % 2.31 % Total expenses, net 0.94 % 0.94 % 0.94 % Net investment income 3.80 % 3.28 % 1.74 % 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 | 9 Months Ended |
Sep. 30, 2023 | |
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 Funds, 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 | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended September 30, 2023 no Trust: Nothing to report. CORN: Nothing to report. SOYB: Nothing to report. CANE: Nothing to report. WEAT: Nothing to report. TAGS: Nothing to report. DEFI: The total net assets of the Fund increased by $539,481, or 32%, for the period September 30, 2023 November 7, 2023. Teucrium Commodity Trust (“Target Trust’), on behalf of its series, Hashdex Bitcoin Futures ETF (“Target Fund”), and Tidal Commodities Trust I (“Acquiring Trust”), on behalf of its series, Hashdex Bitcoin Futures ETF (“Acquiring Fund”), entered into an Agreement and Plan of Partnership Merger and Liquidation dated as of October 30, 2023 ( January 3, 2024 ( Pursuant to the Plan of Merger, each Acquired Fund shareholder will receive one one The Merger will not not In connection with the Merger, the Acquiring Trust filed a Registration Statement on Form S- 4 No. 1 1 October 31, 2023 November 2, 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 quarter-ended September 30, 2023 no The total net assets of the Fund increased by $539,481, or 32%, for the period September 30, 2023 November 7, 2023. Teucrium Commodity Trust (“Target Trust’), on behalf of its series, Hashdex Bitcoin Futures ETF (“Target Fund”), and Tidal Commodities Trust I (“Acquiring Trust”), on behalf of its series, Hashdex Bitcoin Futures ETF (“Acquiring Fund”), entered into an Agreement and Plan of Partnership Merger and Liquidation dated as of October 30, 2023 ( January 3, 2024 ( Pursuant to the Plan of Merger, each Acquired Fund shareholder will receive one one The Merger will not not In connection with the Merger, the Acquiring Trust filed a Registration Statement on Form S- 4 No. 1 1 October 31, 2023 November 2, 2023, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
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. The periods represented by the financial statements herein contain the results of CORN, SOYB, CANE, WEAT, TAGS and DEFI for the months during which each Fund was in operation, except for eliminations for TAGS as explained below. Given the investment objective of TAGS as described in Note 1 four |
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. Unrealized appreciation or depreciation on commodity and cryptocurrency futures contracts are reflected in the combined statements of operations as the difference between the original contract 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 combined statements of operations. Interest on cash equivalents with financial institutions are recognized on an accrual basis. The Funds 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 combined financial statements and reflected in cash and cash equivalents on the combined statements of assets and liabilities and on the combined 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 combined 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 combined statements of operations. |
Commissions, Policy [Policy Text Block] | 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 combined statements of operations as total brokerage commissions paid inclusive of unrealized loss for the three nine September 30, 2023 2022 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ 23,697 $ 2,220 $ 3,707 $ 40,896 $ - $ 593 $ 71,113 Three months ended September 30, 2022 (1) $ 54,746 $ 6,432 $ 5,436 $ 75,136 $ - $ 949 $ 142,699 Nine months ended September 30, 2023 $ 54,865 $ 10,999 $ 19,661 $ 85,354 $ - $ 1,970 $ 172,849 Nine months ended September 30, 2022 (1) $ 188,321 $ 21,638 $ 31,972 $ 354,679 $ - $ 949 $ 597,559 ( 1 September 15, 2022. |
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 2020 2022, fifty not September 30, 2023 December 31, 2022 2021 2020 may 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 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 as of and for the three nine September 30, 2023 2022 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. If a Fund experienced redemptions that caused the number of Shares outstanding to decrease to the minimum level of Shares required to be outstanding, until the minimum number of Shares is again exceeded through the purchase of a new Creation Basket, 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 September 30, 2023 December 31, 2022 Money Market Funds $ 147,921,285 $ 188,640,417 Demand Deposit Savings Accounts 28,763,367 46,061,819 Commercial Paper 145,852,514 199,360,060 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 322,537,166 $ 434,062,296 |
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 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 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. |
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 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 may not In addition, the Agricultural Funds, except for TAGS, which has no 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, the Financial Industry Regulatory Authority (“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. Each 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 not 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 Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Recognized Related Party Transactions $ 566,723 $ 638,361 $ 1,889,702 $ 2,055,991 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 498,171 ( 1 September 15, 2022. 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 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 ( 1 September 15, 2022. |
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 amounts 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 September 30, 2023 December 31, 2022 no For the three nine September 30, 2023 December 31, 2022 not 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”) issued ASU 2023 01, 842 842 March 31, 2023; not The FASB issued ASU 2022 03, 820 not not June 30, 2022; not |
Combined Schedule of Investme_2
Combined Schedule of Investments (Unaudited) (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 70,144,326 $ 70,144,326 20.53 % 70,144,326 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 77,776,959 77,776,959 22.77 77,776,959 Total money market funds $ 147,921,285 $ 147,921,285 43.30 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 4,956,994 $ 4,992,180 1.46 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % 3,967,700 3,993,666 1.17 4,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 4,952,500 4,981,792 1.46 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 4,938,250 4,948,542 1.45 5,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 9,873,444 9,997,022 2.93 10,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 4,933,250 4,982,000 1.46 5,000,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 1.46 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 0.73 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 4,940,626 4,998,416 1.46 5,000,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 0.70 2,400,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 7,434,201 7,496,475 2.19 7,500,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 4,957,222 4,972,000 1.46 5,000,000 Hyundai Capital America November 13, 2023 5.509 % 7,405,500 7,451,625 2.18 7,500,000 Jabil Inc. October 13, 2023 5.793 % 14,945,375 14,971,500 4.38 15,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 1.46 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 9,937,932 9,986,700 2.92 10,000,000 National Fuel Gas Company October 17, 2023 5.754 % 9,954,406 9,974,845 2.92 10,000,000 National Fuel Gas Company October 19, 2023 5.755 % 7,463,445 7,478,775 2.19 7,500,000 V.F. Corporation November 13, 2023 5.497 % 4,958,750 4,967,750 1.45 5,000,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 1.45 5,000,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 9,908,335 9,950,147 2.91 10,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 9,861,057 9,903,064 2.90 10,000,000 Total Commercial Paper $ 145,108,778 $ 145,852,514 42.69 % Total Cash Equivalents $ 293,773,799 85.99 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.04 % $ 10,809,075 United States sugar futures contracts ICE sugar futures MAY24 301 993,509 0.29 8,515,651 ICE sugar futures MAR25 321 872,940 0.26 8,552,981 United States CME Bitcoin futures contracts CME Bitcoin futures OCT23 6 2,464 0.00 813,000 CME Bitcoin futures NOV23 6 17,019 0.00 818,250 Total commodity and cryptocurrency futures contracts $ 2,020,707 0.59 % $ 29,508,957 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 MAR 24 1,286 $ 1,365,651 0.40 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.06 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.16 31,652,400 United States soybean futures contracts CBOT soybean futures MAR24 142 465,562 0.14 9,302,775 CBOT soybean futures NOV24 176 44,606 0.01 11,088,000 United States sugar futures contracts ICE sugar futures JUL24 268 107,186 0.03 7,293,888 0.00 United States wheat futures contracts CBOT wheat futures MAR24 2,329 11,184,967 3.27 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 1.29 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 2.22 69,309,250 Total commodity and cryptocurrency futures contracts $ 25,923,738 7.58 % $ 311,956,976 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 5,670,302 1.66 % 257,033 Teucrium Soybean Fund 5,503,425 1.61 203,005 Teucrium Sugar Fund 5,479,366 1.60 371,271 Teucrium Wheat Fund 5,322,814 1.56 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 6.43 % 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 % |
Note 2 - Principal Contracts _8
Note 2 - Principal Contracts and Agreements (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 115,736 $ 151,161 $ 333,733 $ 280,651 Amount of Custody Services Waived $ 3,360 $ 7,455 $ 19,876 $ 35,556 Amount Recognized for Distribution Services $ 35,012 $ 53,835 $ 111,505 $ 147,890 Amount of Distribution Services Waived $ 1,835 $ 2,739 $ 6,771 $ 45,733 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 171 $ 550 $ 171 $ 550 Amount Recognized for Thales $ 54,612 $ 54,755 $ 92,190 $ 212,879 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 103,396 |
Note 3 - Summary of Significa_8
Note 3 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ 23,697 $ 2,220 $ 3,707 $ 40,896 $ - $ 593 $ 71,113 Three months ended September 30, 2022 (1) $ 54,746 $ 6,432 $ 5,436 $ 75,136 $ - $ 949 $ 142,699 Nine months ended September 30, 2023 $ 54,865 $ 10,999 $ 19,661 $ 85,354 $ - $ 1,970 $ 172,849 Nine months ended September 30, 2022 (1) $ 188,321 $ 21,638 $ 31,972 $ 354,679 $ - $ 949 $ 597,559 |
Schedule of Cash and Cash Equivalents [Table Text Block] | September 30, 2023 December 31, 2022 Money Market Funds $ 147,921,285 $ 188,640,417 Demand Deposit Savings Accounts 28,763,367 46,061,819 Commercial Paper 145,852,514 199,360,060 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 322,537,166 $ 434,062,296 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Recognized Related Party Transactions $ 566,723 $ 638,361 $ 1,889,702 $ 2,055,991 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 498,171 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 |
Note 4 - Fair Value Measureme_8
Note 4 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
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 September 30, 2023 Cash Equivalents $ 293,773,799 $ - $ - $ 293,773,799 Commodity and Cryptocurrency Futures Contracts Soybean futures contracts 134,775 - - 134,775 Sugar futures contracts 1,866,449 - - 1,866,449 Bitcoin futures contracts 19,483 - - 19,483 Total $ 295,794,506 $ - $ - $ 295,794,506 Liabilities Level 1 Level 2 Level 3 Balance as of September 30, 2023 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Soybean futures contracts 510,168 - - 510,168 Sugar futures contracts 107,186 - - 107,186 Wheat futures contracts 23,185,502 - - 23,185,502 Total $ 25,923,738 $ - $ - $ 25,923,738 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 Cash Equivalents 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 |
Note 5 - Derivative Instrumen_7
Note 5 - Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 Soybean futures contracts $ 134,775 $ - $ 134,775 $ 134,775 $ - $ - Sugar futures contracts $ 1,866,449 $ - $ 1,866,449 $ 107,186 $ 997,931 $ 761,332 Bitcoin futures contracts $ 19,483 $ - $ 19,483 $ - $ - $ 19,483 Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 2,120,882 $ - $ 2,120,882 $ - $ 2,120,882 $ - Soybean futures contracts $ 510,168 $ - $ 510,168 $ 134,775 $ 375,393 $ - Sugar futures contracts $ 107,186 $ - $ 107,186 $ 107,186 $ - $ - Wheat futures contracts $ 23,185,502 $ - $ 23,185,502 $ - $ 23,185,502 $ - 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 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (13,018,346 ) $ 11,306,711 Soybeans futures contracts 311,294 (507,789 ) Sugar futures contracts 2,271,032 934,750 Wheat futures contracts (32,283,536 ) 166,327 Bitcoin futures Contracts (176,608 ) (107,189 ) Total commodity and cryptocurrency futures contracts $ (42,896,164 ) $ 11,792,810 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (10,344,285 ) $ 23,856,276 Soybeans futures contracts 977,658 (3,855,440 ) Sugar futures contracts (948,329 ) (1,014,429 ) Wheat futures contracts (92,957,415 ) 93,269,812 Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (103,278,313 ) $ 112,241,847 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (24,479,726 ) $ (739,577 ) Soybeans futures contracts 270,814 (2,895,763 ) Sugar futures contracts 11,018,654 933,062 Wheat futures contracts (72,771,330 ) 34,604 Bitcoin futures Contracts 524,179 (9,669 ) Total commodity and cryptocurrency futures contracts $ (85,437,409 ) $ (2,677,343 ) Realized Gain (Loss) on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,678,780 $ (3,698,432 ) Soybeans futures contracts 10,675,505 (5,768,700 ) Sugar futures contracts (476,906 ) (2,281,371 ) Wheat futures contracts (53,537,910 ) (3,790,712 ) Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (14,666,473 ) $ (15,553,587 ) |
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) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Distribution of Assets, Liabilities and Stockholders' Equity [Table Text Block] | Outstanding Shares Net Assets Teucrium Corn Fund 4,100,004 $ 90,448,376 Teucrium Soybean Fund 1,150,004 31,176,395 Teucrium Sugar Fund 1,650,004 24,351,498 Teucrium Wheat Fund 34,825,004 193,949,700 Hashdex Bitcoin Futures ETF 50,004 1,672,130 Teucrium Agricultural Fund: 725,002 Net assets including the investment in the Underlying Funds 21,986,775 Less: Investment in the Underlying Funds (21,975,907 ) Net for the Fund in the combined net assets of the Trust 10,868 Total $ 341,608,967 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 |
Schedule of Investments (Unau_7
Schedule of Investments (Unaudited) - Teucrium Corn Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 70,144,326 $ 70,144,326 20.53 % 70,144,326 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 77,776,959 77,776,959 22.77 77,776,959 Total money market funds $ 147,921,285 $ 147,921,285 43.30 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 4,956,994 $ 4,992,180 1.46 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % 3,967,700 3,993,666 1.17 4,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 4,952,500 4,981,792 1.46 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 4,938,250 4,948,542 1.45 5,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 9,873,444 9,997,022 2.93 10,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 4,933,250 4,982,000 1.46 5,000,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 1.46 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 0.73 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 4,940,626 4,998,416 1.46 5,000,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 0.70 2,400,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 7,434,201 7,496,475 2.19 7,500,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 4,957,222 4,972,000 1.46 5,000,000 Hyundai Capital America November 13, 2023 5.509 % 7,405,500 7,451,625 2.18 7,500,000 Jabil Inc. October 13, 2023 5.793 % 14,945,375 14,971,500 4.38 15,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 1.46 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 9,937,932 9,986,700 2.92 10,000,000 National Fuel Gas Company October 17, 2023 5.754 % 9,954,406 9,974,845 2.92 10,000,000 National Fuel Gas Company October 19, 2023 5.755 % 7,463,445 7,478,775 2.19 7,500,000 V.F. Corporation November 13, 2023 5.497 % 4,958,750 4,967,750 1.45 5,000,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 1.45 5,000,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 9,908,335 9,950,147 2.91 10,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 9,861,057 9,903,064 2.90 10,000,000 Total Commercial Paper $ 145,108,778 $ 145,852,514 42.69 % Total Cash Equivalents $ 293,773,799 85.99 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.04 % $ 10,809,075 United States sugar futures contracts ICE sugar futures MAY24 301 993,509 0.29 8,515,651 ICE sugar futures MAR25 321 872,940 0.26 8,552,981 United States CME Bitcoin futures contracts CME Bitcoin futures OCT23 6 2,464 0.00 813,000 CME Bitcoin futures NOV23 6 17,019 0.00 818,250 Total commodity and cryptocurrency futures contracts $ 2,020,707 0.59 % $ 29,508,957 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 MAR 24 1,286 $ 1,365,651 0.40 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.06 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.16 31,652,400 United States soybean futures contracts CBOT soybean futures MAR24 142 465,562 0.14 9,302,775 CBOT soybean futures NOV24 176 44,606 0.01 11,088,000 United States sugar futures contracts ICE sugar futures JUL24 268 107,186 0.03 7,293,888 0.00 United States wheat futures contracts CBOT wheat futures MAR24 2,329 11,184,967 3.27 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 1.29 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 2.22 69,309,250 Total commodity and cryptocurrency futures contracts $ 25,923,738 7.58 % $ 311,956,976 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 5,670,302 1.66 % 257,033 Teucrium Soybean Fund 5,503,425 1.61 203,005 Teucrium Sugar Fund 5,479,366 1.60 371,271 Teucrium Wheat Fund 5,322,814 1.56 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 6.43 % 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 % |
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 U.S. Bank Deposit Account 5.270 % $ 17,048,020 $ 17,048,020 18.85 % 17,048,020 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 13,370,617 13,370,617 14.78 13,370,617 Total money market funds $ 30,418,637 $ 30,418,637 33.63 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % 2,478,497 $ 2,496,090 2.76 % 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 2,476,250 2,490,896 2.75 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 2,469,125 2,474,271 2.74 2,500,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 2,468,361 2,499,256 2.76 2,500,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 2,466,625 2,491,000 2.75 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 2,470,313 2,499,208 2.76 2,500,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 2.65 2,400,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 2,478,611 2,486,000 2.75 2,500,000 Hyundai Capital America November 13, 2023 5.509 % 2,468,500 2,483,875 2.75 2,500,000 Jabil Inc. October 13, 2023 5.793 % 2,490,896 2,495,250 2.76 2,500,000 Marriott International, Inc. October 10, 2023 5.408 % 2,484,483 2,496,675 2.76 2,500,000 National Fuel Gas Company October 17, 2023 5.754 % 4,977,203 4,987,422 5.51 5,000,000 National Fuel Gas Company October 19, 2023 5.755 % 2,487,815 2,492,925 2.76 2,500,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 7,431,251 7,462,610 8.25 7,500,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 2,465,264 2,475,766 2.74 2,500,000 Total Commercial Paper $ 44,498,261 $ 44,730,124 49.45 % Total Cash Equivalents $ 75,148,761 83.08 % 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 MAR 24 1,286 $ 1,365,651 1.51 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.24 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.59 31,652,400 Total commodity futures contracts $ 2,120,882 2.34 % $ 90,399,025 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 Principal Date Yield Cost Fair Value Net Assets 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 |
Note 1 - Organization and Ope_8
Note 1 - Organization and Operation - Teucrium Corn Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
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) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 115,736 $ 151,161 $ 333,733 $ 280,651 Amount of Custody Services Waived $ 3,360 $ 7,455 $ 19,876 $ 35,556 Amount Recognized for Distribution Services $ 35,012 $ 53,835 $ 111,505 $ 147,890 Amount of Distribution Services Waived $ 1,835 $ 2,739 $ 6,771 $ 45,733 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 171 $ 550 $ 171 $ 550 Amount Recognized for Thales $ 54,612 $ 54,755 $ 92,190 $ 212,879 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 103,396 |
Teucrium Corn Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Amount Recognized for Custody Services $ 34,535 $ 42,405 $ 89,338 $ 77,409 Amount of Custody Services Waived $ - $ - $ - $ 4,000 Amount Recognized for Distribution Services $ 9,202 $ 14,345 $ 29,157 $ 46,974 Amount of Distribution Services Waived $ - $ - $ - $ 17,010 Amount Recognized for Wilmington Trust $ 860 $ 550 $ 860 $ 550 Amount of Wilmington Trust Waived $ - $ - $ - $ - Amount Recognized for Thales $ 14,528 $ 14,487 $ 24,360 $ 73,405 Amount of Thales Waived $ - $ - $ - $ 27,193 |
Note 3 - Summary of Significa_9
Note 3 - Summary of Significant Accounting Policies - Teucrium Corn Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ 23,697 $ 2,220 $ 3,707 $ 40,896 $ - $ 593 $ 71,113 Three months ended September 30, 2022 (1) $ 54,746 $ 6,432 $ 5,436 $ 75,136 $ - $ 949 $ 142,699 Nine months ended September 30, 2023 $ 54,865 $ 10,999 $ 19,661 $ 85,354 $ - $ 1,970 $ 172,849 Nine months ended September 30, 2022 (1) $ 188,321 $ 21,638 $ 31,972 $ 354,679 $ - $ 949 $ 597,559 |
Schedule of Cash and Cash Equivalents [Table Text Block] | September 30, 2023 December 31, 2022 Money Market Funds $ 147,921,285 $ 188,640,417 Demand Deposit Savings Accounts 28,763,367 46,061,819 Commercial Paper 145,852,514 199,360,060 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 322,537,166 $ 434,062,296 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Recognized Related Party Transactions $ 566,723 $ 638,361 $ 1,889,702 $ 2,055,991 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 498,171 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 |
Teucrium Corn Fund [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN Three months ended September 30, 2023 $ 23,697 Three months ended September 30, 2022 $ 54,746 Nine months ended September 30, 2023 $ 54,865 Nine months ended September 30, 2022 $ 188,321 |
Schedule of Cash and Cash Equivalents [Table Text Block] | September 30, 2023 December 31, 2022 Money Market Funds $ 30,418,637 $ 52,555,915 Demand Deposit Savings Accounts 10,157,951 25,538,663 Commercial Paper 44,730,124 64,340,159 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 85,306,712 $ 142,434,737 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 153,884 $ 170,070 $ 505,154 $ 652,887 Waived Related Party Transactions $ - $ - $ - $ 149,721 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN Three months ended September 30, 2023 $ - Three months ended September 30, 2022 $ - Nine months ended September 30, 2023 $ - Nine months ended September 30, 2022 $ 345,855 |
Note 4 - Fair Value Measureme_9
Note 4 - Fair Value Measurements - Teucrium Corn Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
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 September 30, 2023 Cash Equivalents $ 293,773,799 $ - $ - $ 293,773,799 Commodity and Cryptocurrency Futures Contracts Soybean futures contracts 134,775 - - 134,775 Sugar futures contracts 1,866,449 - - 1,866,449 Bitcoin futures contracts 19,483 - - 19,483 Total $ 295,794,506 $ - $ - $ 295,794,506 Liabilities Level 1 Level 2 Level 3 Balance as of September 30, 2023 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Soybean futures contracts 510,168 - - 510,168 Sugar futures contracts 107,186 - - 107,186 Wheat futures contracts 23,185,502 - - 23,185,502 Total $ 25,923,738 $ - $ - $ 25,923,738 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 Cash Equivalents 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 |
Teucrium Corn Fund [Member] | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Balance as of Assets: Level 1 Level 2 Level 3 September 30, 2023 Cash Equivalents $ 75,148,761 $ - $ - $ 75,148,761 Balance as of Liabilities Level 1 Level 2 Level 3 September 30, 2023 Commodity Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2022 Cash Equivalents $ 116,896,074 $ - $ - $ 116,896,074 Commodity Futures Contracts Corn futures contracts 1,585,798 - - 1,585,798 Total $ 118,481,872 $ - $ - $ 118,481,872 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2022 Corn futures contracts $ 2,967,103 $ - $ - $ 2,967,103 |
Note 5 - Derivative Instrumen_8
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Corn Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 Soybean futures contracts $ 134,775 $ - $ 134,775 $ 134,775 $ - $ - Sugar futures contracts $ 1,866,449 $ - $ 1,866,449 $ 107,186 $ 997,931 $ 761,332 Bitcoin futures contracts $ 19,483 $ - $ 19,483 $ - $ - $ 19,483 Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 2,120,882 $ - $ 2,120,882 $ - $ 2,120,882 $ - Soybean futures contracts $ 510,168 $ - $ 510,168 $ 134,775 $ 375,393 $ - Sugar futures contracts $ 107,186 $ - $ 107,186 $ 107,186 $ - $ - Wheat futures contracts $ 23,185,502 $ - $ 23,185,502 $ - $ 23,185,502 $ - 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 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (13,018,346 ) $ 11,306,711 Soybeans futures contracts 311,294 (507,789 ) Sugar futures contracts 2,271,032 934,750 Wheat futures contracts (32,283,536 ) 166,327 Bitcoin futures Contracts (176,608 ) (107,189 ) Total commodity and cryptocurrency futures contracts $ (42,896,164 ) $ 11,792,810 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (10,344,285 ) $ 23,856,276 Soybeans futures contracts 977,658 (3,855,440 ) Sugar futures contracts (948,329 ) (1,014,429 ) Wheat futures contracts (92,957,415 ) 93,269,812 Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (103,278,313 ) $ 112,241,847 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (24,479,726 ) $ (739,577 ) Soybeans futures contracts 270,814 (2,895,763 ) Sugar futures contracts 11,018,654 933,062 Wheat futures contracts (72,771,330 ) 34,604 Bitcoin futures Contracts 524,179 (9,669 ) Total commodity and cryptocurrency futures contracts $ (85,437,409 ) $ (2,677,343 ) Realized Gain (Loss) on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,678,780 $ (3,698,432 ) Soybeans futures contracts 10,675,505 (5,768,700 ) Sugar futures contracts (476,906 ) (2,281,371 ) Wheat futures contracts (53,537,910 ) (3,790,712 ) Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (14,666,473 ) $ (15,553,587 ) |
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 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 $ 2,120,882 $ - $ 2,120,882 $ - $ 2,120,882 $ - (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 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (13,018,346 ) $ 11,306,711 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (10,344,285 ) $ 23,856,276 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (24,479,726 ) $ (739,577 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,678,780 $ (3,698,432 ) |
Note 6 - Financial Highlights_6
Note 6 - Financial Highlights - Teucrium Corn Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Teucrium Corn Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Three months ended Three months ended Nine months ended Nine months ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Per Share Operation Performance Net asset value at beginning of period $ 22.22 $ 25.06 $ 26.90 $ 21.58 Income from investment operations: Investment income 0.30 0.13 0.88 0.21 Net realized and unrealized (loss) gain on commodity futures contracts (0.30 ) 1.96 (5.26 ) 5.58 Total expenses, net (0.16 ) (0.11 ) (0.46 ) (0.33 ) Net (decrease) increase in net asset value (0.16 ) 1.98 (4.84 ) 5.46 Net asset value at end of period $ 22.06 $ 27.04 $ 22.06 $ 27.04 Total Return -0.73 % 7.89 % -17.98 % 25.30 % Ratios to Average Net Assets (Annualized) Total expenses 2.82 % 1.79 % 2.51 % 1.90 % Total expenses, net 2.82 % 1.79 % 2.51 % 1.69 % Net investment income (loss) 2.41 % 0.27 % 2.32 % -0.64 % |
Schedule of Investments (Unau_8
Schedule of Investments (Unaudited) - Teucrium Soybean Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 70,144,326 $ 70,144,326 20.53 % 70,144,326 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 77,776,959 77,776,959 22.77 77,776,959 Total money market funds $ 147,921,285 $ 147,921,285 43.30 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 4,956,994 $ 4,992,180 1.46 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % 3,967,700 3,993,666 1.17 4,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 4,952,500 4,981,792 1.46 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 4,938,250 4,948,542 1.45 5,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 9,873,444 9,997,022 2.93 10,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 4,933,250 4,982,000 1.46 5,000,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 1.46 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 0.73 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 4,940,626 4,998,416 1.46 5,000,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 0.70 2,400,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 7,434,201 7,496,475 2.19 7,500,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 4,957,222 4,972,000 1.46 5,000,000 Hyundai Capital America November 13, 2023 5.509 % 7,405,500 7,451,625 2.18 7,500,000 Jabil Inc. October 13, 2023 5.793 % 14,945,375 14,971,500 4.38 15,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 1.46 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 9,937,932 9,986,700 2.92 10,000,000 National Fuel Gas Company October 17, 2023 5.754 % 9,954,406 9,974,845 2.92 10,000,000 National Fuel Gas Company October 19, 2023 5.755 % 7,463,445 7,478,775 2.19 7,500,000 V.F. Corporation November 13, 2023 5.497 % 4,958,750 4,967,750 1.45 5,000,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 1.45 5,000,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 9,908,335 9,950,147 2.91 10,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 9,861,057 9,903,064 2.90 10,000,000 Total Commercial Paper $ 145,108,778 $ 145,852,514 42.69 % Total Cash Equivalents $ 293,773,799 85.99 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.04 % $ 10,809,075 United States sugar futures contracts ICE sugar futures MAY24 301 993,509 0.29 8,515,651 ICE sugar futures MAR25 321 872,940 0.26 8,552,981 United States CME Bitcoin futures contracts CME Bitcoin futures OCT23 6 2,464 0.00 813,000 CME Bitcoin futures NOV23 6 17,019 0.00 818,250 Total commodity and cryptocurrency futures contracts $ 2,020,707 0.59 % $ 29,508,957 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 MAR 24 1,286 $ 1,365,651 0.40 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.06 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.16 31,652,400 United States soybean futures contracts CBOT soybean futures MAR24 142 465,562 0.14 9,302,775 CBOT soybean futures NOV24 176 44,606 0.01 11,088,000 United States sugar futures contracts ICE sugar futures JUL24 268 107,186 0.03 7,293,888 0.00 United States wheat futures contracts CBOT wheat futures MAR24 2,329 11,184,967 3.27 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 1.29 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 2.22 69,309,250 Total commodity and cryptocurrency futures contracts $ 25,923,738 7.58 % $ 311,956,976 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 5,670,302 1.66 % 257,033 Teucrium Soybean Fund 5,503,425 1.61 203,005 Teucrium Sugar Fund 5,479,366 1.60 371,271 Teucrium Wheat Fund 5,322,814 1.56 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 6.43 % 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 % |
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 U.S. Bank Deposit Account 5.270 % $ 1,775,025 $ 1,775,025 5.69 % 1,775,025 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 5,871,233 5,871,233 18.83 5,871,233 Total money market funds $ 7,646,258 $ 7,646,258 24.52 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % $ 1,983,850 $ 1,996,833 6.40 % 2,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 2,468,361 2,499,255 8.02 2,500,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 2,478,067 2,498,825 8.02 2,500,000 Jabil Inc. October 13, 2023 5.793 % 2,490,896 2,495,250 8.00 2,500,000 Marriott International, Inc. October 10, 2023 5.408 % 2,484,483 2,496,675 8.01 2,500,000 National Fuel Gas Company October 19, 2023 5.755 % 2,487,815 2,492,925 8.00 2,500,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 2,465,264 2,475,766 7.94 2,500,000 Total Commercial Paper $ 16,858,736 $ 16,955,529 54.39 % Total Cash Equivalents $ 24,601,787 78.91 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.43 % $ 10,809,075 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States soybean futures contracts CBOT soybean futures MAR24 142 $ 465,562 1.49 % $ 9,302,775 CBOT soybean futures NOV24 176 44,606 0.14 11,088,000 Total commodity futures contracts $ 510,168 1.64 % $ 20,390,775 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 Principal Date Yield Cost Fair Value Net Assets 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 |
Note 1 - Organization and Ope_9
Note 1 - Organization and Operation - Teucrium Soybean Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Schedule of Benchmark Percentages [Table Text Block] | CBOT Soybean 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) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 115,736 $ 151,161 $ 333,733 $ 280,651 Amount of Custody Services Waived $ 3,360 $ 7,455 $ 19,876 $ 35,556 Amount Recognized for Distribution Services $ 35,012 $ 53,835 $ 111,505 $ 147,890 Amount of Distribution Services Waived $ 1,835 $ 2,739 $ 6,771 $ 45,733 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 171 $ 550 $ 171 $ 550 Amount Recognized for Thales $ 54,612 $ 54,755 $ 92,190 $ 212,879 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 103,396 |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Amount Recognized for Custody Services $ 14,186 $ 13,002 $ 31,501 $ 24,008 Amount of Custody Services Waived $ - $ - $ - $ 4,000 Amount Recognized for Distribution Services $ 3,636 $ 4,476 $ 10,808 $ 14,860 Amount of Distribution Services Waived $ - $ - $ - $ 3,962 Amount Recognized for Wilmington Trust $ 317 $ 550 $ 317 $ 550 Amount of Wilmington Trust Waived $ - $ - $ - $ - Amount Recognized for Thales $ 5,219 $ 4,543 $ 8,760 $ 22,314 Amount of Thales Waived $ - $ - $ - $ - |
Note 3 - Summary of Signific_10
Note 3 - Summary of Significant Accounting Policies - Teucrium Soybean Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ 23,697 $ 2,220 $ 3,707 $ 40,896 $ - $ 593 $ 71,113 Three months ended September 30, 2022 (1) $ 54,746 $ 6,432 $ 5,436 $ 75,136 $ - $ 949 $ 142,699 Nine months ended September 30, 2023 $ 54,865 $ 10,999 $ 19,661 $ 85,354 $ - $ 1,970 $ 172,849 Nine months ended September 30, 2022 (1) $ 188,321 $ 21,638 $ 31,972 $ 354,679 $ - $ 949 $ 597,559 |
Schedule of Cash and Cash Equivalents [Table Text Block] | September 30, 2023 December 31, 2022 Money Market Funds $ 147,921,285 $ 188,640,417 Demand Deposit Savings Accounts 28,763,367 46,061,819 Commercial Paper 145,852,514 199,360,060 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 322,537,166 $ 434,062,296 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Recognized Related Party Transactions $ 566,723 $ 638,361 $ 1,889,702 $ 2,055,991 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 498,171 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | SOYB Three months ended September 30, 2023 $ 2,220 Three months ended September 30, 2022 $ 6,432 Nine months ended September 30, 2023 $ 10,999 Nine months ended September 30, 2022 $ 21,638 |
Schedule of Cash and Cash Equivalents [Table Text Block] | September 30, 2023 December 31, 2022 Money Market Funds $ 7,646,258 $ 25,631,042 Demand Deposit Savings Accounts 5,327,990 5,143,495 Commercial Paper 16,955,529 27,438,032 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 29,929,777 $ 58,212,569 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 59,564 $ 53,104 $ 185,249 $ 205,250 Waived Related Party Transactions $ - $ - $ - $ 32,056 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | SOYB Three months ended September 30, 2023 $ - Three months ended September 30, 2022 $ - Nine months ended September 30, 2023 $ - Nine months ended September 30, 2022 $ 89,562 |
Note 4 - Fair Value Measurem_10
Note 4 - Fair Value Measurements - Teucrium Soybean Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
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 September 30, 2023 Cash Equivalents $ 293,773,799 $ - $ - $ 293,773,799 Commodity and Cryptocurrency Futures Contracts Soybean futures contracts 134,775 - - 134,775 Sugar futures contracts 1,866,449 - - 1,866,449 Bitcoin futures contracts 19,483 - - 19,483 Total $ 295,794,506 $ - $ - $ 295,794,506 Liabilities Level 1 Level 2 Level 3 Balance as of September 30, 2023 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Soybean futures contracts 510,168 - - 510,168 Sugar futures contracts 107,186 - - 107,186 Wheat futures contracts 23,185,502 - - 23,185,502 Total $ 25,923,738 $ - $ - $ 25,923,738 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 Cash Equivalents 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 |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Balance as of Assets: Level 1 Level 2 Level 3 September 30, 2023 Cash Equivalents $ 24,601,787 $ - $ - $ 24,601,787 Commodity Futures Contracts Soybean futures contracts 134,775 - - 134,775 Total $ 24,736,562 $ - $ - $ 24,736,562 Balance as of Liabilities Level 1 Level 2 Level 3 September 30, 2023 Commodity Futures Contracts Soybean futures contracts $ 510,168 $ - $ - $ 510,168 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2022 Cash Equivalents $ 53,069,074 $ - $ - $ 53,069,074 Commodity Futures Contracts Soybean futures contracts 2,520,370 - - 2,520,370 Total $ 55,589,444 $ - $ - $ 55,589,444 |
Note 5 - Derivative Instrumen_9
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Soybean Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 Soybean futures contracts $ 134,775 $ - $ 134,775 $ 134,775 $ - $ - Sugar futures contracts $ 1,866,449 $ - $ 1,866,449 $ 107,186 $ 997,931 $ 761,332 Bitcoin futures contracts $ 19,483 $ - $ 19,483 $ - $ - $ 19,483 Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 2,120,882 $ - $ 2,120,882 $ - $ 2,120,882 $ - Soybean futures contracts $ 510,168 $ - $ 510,168 $ 134,775 $ 375,393 $ - Sugar futures contracts $ 107,186 $ - $ 107,186 $ 107,186 $ - $ - Wheat futures contracts $ 23,185,502 $ - $ 23,185,502 $ - $ 23,185,502 $ - 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 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (13,018,346 ) $ 11,306,711 Soybeans futures contracts 311,294 (507,789 ) Sugar futures contracts 2,271,032 934,750 Wheat futures contracts (32,283,536 ) 166,327 Bitcoin futures Contracts (176,608 ) (107,189 ) Total commodity and cryptocurrency futures contracts $ (42,896,164 ) $ 11,792,810 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (10,344,285 ) $ 23,856,276 Soybeans futures contracts 977,658 (3,855,440 ) Sugar futures contracts (948,329 ) (1,014,429 ) Wheat futures contracts (92,957,415 ) 93,269,812 Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (103,278,313 ) $ 112,241,847 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (24,479,726 ) $ (739,577 ) Soybeans futures contracts 270,814 (2,895,763 ) Sugar futures contracts 11,018,654 933,062 Wheat futures contracts (72,771,330 ) 34,604 Bitcoin futures Contracts 524,179 (9,669 ) Total commodity and cryptocurrency futures contracts $ (85,437,409 ) $ (2,677,343 ) Realized Gain (Loss) on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,678,780 $ (3,698,432 ) Soybeans futures contracts 10,675,505 (5,768,700 ) Sugar futures contracts (476,906 ) (2,281,371 ) Wheat futures contracts (53,537,910 ) (3,790,712 ) Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (14,666,473 ) $ (15,553,587 ) |
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 $ 134,775 $ - $ 134,775 $ 134,775 $ - $ - (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 Soybean futures contracts $ 510,168 $ - $ 510,168 $ 134,775 $ 375,393 $ - (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 |
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 $ 311,294 $ (507,789 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 977,658 $ (3,855,440 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 270,814 $ (2,895,763 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 10,675,505 $ (5,768,700 ) |
Note 6 - Financial Highlights_7
Note 6 - Financial Highlights - Teucrium Soybean Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Three months ended Three months ended Nine months ended Nine months ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Per Share Operation Performance Net asset value at beginning of period $ 27.33 $ 27.07 $ 28.50 $ 22.77 Income from investment operations: Investment income 0.37 0.13 1.00 0.21 Net realized and unrealized (loss) gain on commodity futures contracts (0.34 ) (0.98 ) (1.76 ) 3.48 Total expenses, net (0.25 ) (0.11 ) (0.63 ) (0.35 ) Net (decrease) increase in net asset value (0.22 ) (0.96 ) (1.39 ) 3.34 Net asset value at end of period $ 27.11 $ 26.11 $ 27.11 $ 26.11 Total Return -0.80 % -3.52 % -4.89 % 14.68 % Ratios to Average Net Assets (Annualized) Total expenses 3.57 % 1.73 % 3.05 % 1.92 % Total expenses, net 3.57 % 1.73 % 3.05 % 1.75 % Net investment income (loss) 1.68 % 0.34 % 1.81 % -0.68 % |
Schedule of Investments (Unau_9
Schedule of Investments (Unaudited) - Teucrium Sugar Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 70,144,326 $ 70,144,326 20.53 % 70,144,326 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 77,776,959 77,776,959 22.77 77,776,959 Total money market funds $ 147,921,285 $ 147,921,285 43.30 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 4,956,994 $ 4,992,180 1.46 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % 3,967,700 3,993,666 1.17 4,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 4,952,500 4,981,792 1.46 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 4,938,250 4,948,542 1.45 5,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 9,873,444 9,997,022 2.93 10,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 4,933,250 4,982,000 1.46 5,000,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 1.46 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 0.73 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 4,940,626 4,998,416 1.46 5,000,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 0.70 2,400,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 7,434,201 7,496,475 2.19 7,500,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 4,957,222 4,972,000 1.46 5,000,000 Hyundai Capital America November 13, 2023 5.509 % 7,405,500 7,451,625 2.18 7,500,000 Jabil Inc. October 13, 2023 5.793 % 14,945,375 14,971,500 4.38 15,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 1.46 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 9,937,932 9,986,700 2.92 10,000,000 National Fuel Gas Company October 17, 2023 5.754 % 9,954,406 9,974,845 2.92 10,000,000 National Fuel Gas Company October 19, 2023 5.755 % 7,463,445 7,478,775 2.19 7,500,000 V.F. Corporation November 13, 2023 5.497 % 4,958,750 4,967,750 1.45 5,000,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 1.45 5,000,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 9,908,335 9,950,147 2.91 10,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 9,861,057 9,903,064 2.90 10,000,000 Total Commercial Paper $ 145,108,778 $ 145,852,514 42.69 % Total Cash Equivalents $ 293,773,799 85.99 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.04 % $ 10,809,075 United States sugar futures contracts ICE sugar futures MAY24 301 993,509 0.29 8,515,651 ICE sugar futures MAR25 321 872,940 0.26 8,552,981 United States CME Bitcoin futures contracts CME Bitcoin futures OCT23 6 2,464 0.00 813,000 CME Bitcoin futures NOV23 6 17,019 0.00 818,250 Total commodity and cryptocurrency futures contracts $ 2,020,707 0.59 % $ 29,508,957 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 MAR 24 1,286 $ 1,365,651 0.40 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.06 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.16 31,652,400 United States soybean futures contracts CBOT soybean futures MAR24 142 465,562 0.14 9,302,775 CBOT soybean futures NOV24 176 44,606 0.01 11,088,000 United States sugar futures contracts ICE sugar futures JUL24 268 107,186 0.03 7,293,888 0.00 United States wheat futures contracts CBOT wheat futures MAR24 2,329 11,184,967 3.27 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 1.29 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 2.22 69,309,250 Total commodity and cryptocurrency futures contracts $ 25,923,738 7.58 % $ 311,956,976 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 5,670,302 1.66 % 257,033 Teucrium Soybean Fund 5,503,425 1.61 203,005 Teucrium Sugar Fund 5,479,366 1.60 371,271 Teucrium Wheat Fund 5,322,814 1.56 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 6.43 % 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 % |
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 U.S. Bank Deposit Account 5.270 % $ 7,060,230 $ 7,060,230 28.99 % 7,060,230 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 3,867,017 3,867,017 15.88 3,867,017 Total Money Market Funds $ 10,927,247 $ 10,927,247 44.87 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % $ 1,983,850 $ 1,996,833 8.20 % 2,000,000 Marriott International, Inc. October 10, 2023 5.408 % 2,484,483 2,496,675 10.25 2,500,000 V.F. Corporation November 13, 2023 5.497 % 2,479,375 2,483,875 10.20 2,500,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 2,477,084 2,487,537 10.22 2,500,000 Total Commercial Paper $ 9,424,792 $ 9,464,920 38.87 % Total Cash Equivalents $ 20,392,167 83.74 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States sugar futures contracts ICE sugar futures MAY24 301 $ 993,509 4.08 % $ 8,515,651 ICE sugar futures MAR25 321 872,940 3.58 8,552,981 Total commodity futures contracts $ 1,866,449 7.66 % $ 17,068,632 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 JUL24 268 $ 107,186 0.44 % $ 7,293,888 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 |
Note 1 - Organization and Op_10
Note 1 - Organization and Operation - Teucrium Sugar Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
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) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 115,736 $ 151,161 $ 333,733 $ 280,651 Amount of Custody Services Waived $ 3,360 $ 7,455 $ 19,876 $ 35,556 Amount Recognized for Distribution Services $ 35,012 $ 53,835 $ 111,505 $ 147,890 Amount of Distribution Services Waived $ 1,835 $ 2,739 $ 6,771 $ 45,733 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 171 $ 550 $ 171 $ 550 Amount Recognized for Thales $ 54,612 $ 54,755 $ 92,190 $ 212,879 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 103,396 |
Teucrium Sugar Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Amount Recognized for Custody Services $ 5,799 $ 5,101 $ 18,037 $ 10,335 Amount of Custody Services Waived $ - $ - $ - $ 1,068 Amount Recognized for Distribution Services $ 2,439 $ 2,098 $ 6,146 $ 6,834 Amount of Distribution Services Waived $ - $ - $ - $ 3,331 Amount Recognized for Wilmington Trust $ 232 $ 550 $ 232 $ 550 Amount of Wilmington Trust Waived $ - $ - $ - $ - Amount Recognized for Thales $ 3,409 $ 1,943 $ 5,365 $ 10,642 Amount of Thales Waived $ - $ - $ - $ 4,427 |
Note 3 - Summary of Signific_11
Note 3 - Summary of Significant Accounting Policies - Teucrium Sugar Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ 23,697 $ 2,220 $ 3,707 $ 40,896 $ - $ 593 $ 71,113 Three months ended September 30, 2022 (1) $ 54,746 $ 6,432 $ 5,436 $ 75,136 $ - $ 949 $ 142,699 Nine months ended September 30, 2023 $ 54,865 $ 10,999 $ 19,661 $ 85,354 $ - $ 1,970 $ 172,849 Nine months ended September 30, 2022 (1) $ 188,321 $ 21,638 $ 31,972 $ 354,679 $ - $ 949 $ 597,559 |
Schedule of Cash and Cash Equivalents [Table Text Block] | September 30, 2023 December 31, 2022 Money Market Funds $ 147,921,285 $ 188,640,417 Demand Deposit Savings Accounts 28,763,367 46,061,819 Commercial Paper 145,852,514 199,360,060 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 322,537,166 $ 434,062,296 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Recognized Related Party Transactions $ 566,723 $ 638,361 $ 1,889,702 $ 2,055,991 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 498,171 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 |
Teucrium Sugar Fund [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CANE Three months ended September 30, 2023 $ 3,707 Three months ended September 30, 2022 $ 5,436 Nine months ended September 30, 2023 $ 19,661 Nine months ended September 30, 2022 $ 31,972 |
Schedule of Cash and Cash Equivalents [Table Text Block] | September 30, 2023 December 31, 2022 Money Market Funds $ 10,927,247 $ 9,920,499 Demand Deposit Savings Accounts 3,179,785 3,069,677 Commercial Paper 9,464,920 9,987,304 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 23,571,952 $ 22,977,480 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 38,672 $ 24,638 $ 110,304 $ 96,060 Waived Related Party Transactions $ - $ - $ - $ 25,739 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CANE Three months ended September 30, 2023 $ - Three months ended September 30, 2022 $ - Nine months ended September 30, 2023 $ - Nine months ended September 30, 2022 $ 78,237 |
Note 4 - Fair Value Measurem_11
Note 4 - Fair Value Measurements - Teucrium Sugar Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
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 September 30, 2023 Cash Equivalents $ 293,773,799 $ - $ - $ 293,773,799 Commodity and Cryptocurrency Futures Contracts Soybean futures contracts 134,775 - - 134,775 Sugar futures contracts 1,866,449 - - 1,866,449 Bitcoin futures contracts 19,483 - - 19,483 Total $ 295,794,506 $ - $ - $ 295,794,506 Liabilities Level 1 Level 2 Level 3 Balance as of September 30, 2023 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Soybean futures contracts 510,168 - - 510,168 Sugar futures contracts 107,186 - - 107,186 Wheat futures contracts 23,185,502 - - 23,185,502 Total $ 25,923,738 $ - $ - $ 25,923,738 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 Cash Equivalents 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 |
Teucrium Sugar Fund [Member] | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Balance as of Assets: Level 1 Level 2 Level 3 September 30, 2023 Cash Equivalents $ 20,392,167 $ - $ - $ 20,392,167 Commodity Futures Contracts Sugar futures contracts 1,866,449 - - 1,866,449 Total $ 22,258,616 $ - $ - $ 22,258,616 Balance as of Liabilities Level 1 Level 2 Level 3 September 30, 2023 Commodity Futures Contracts Sugar futures contracts $ 107,186 $ - $ - $ 107,186 Balance as of Assets: Level 1 Level 2 Level 3 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 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2022 Sugar futures contracts $ 85,128 $ - $ - $ 85,128 |
Note 5 - Derivative Instrume_10
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Sugar Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 Soybean futures contracts $ 134,775 $ - $ 134,775 $ 134,775 $ - $ - Sugar futures contracts $ 1,866,449 $ - $ 1,866,449 $ 107,186 $ 997,931 $ 761,332 Bitcoin futures contracts $ 19,483 $ - $ 19,483 $ - $ - $ 19,483 Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 2,120,882 $ - $ 2,120,882 $ - $ 2,120,882 $ - Soybean futures contracts $ 510,168 $ - $ 510,168 $ 134,775 $ 375,393 $ - Sugar futures contracts $ 107,186 $ - $ 107,186 $ 107,186 $ - $ - Wheat futures contracts $ 23,185,502 $ - $ 23,185,502 $ - $ 23,185,502 $ - 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 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (13,018,346 ) $ 11,306,711 Soybeans futures contracts 311,294 (507,789 ) Sugar futures contracts 2,271,032 934,750 Wheat futures contracts (32,283,536 ) 166,327 Bitcoin futures Contracts (176,608 ) (107,189 ) Total commodity and cryptocurrency futures contracts $ (42,896,164 ) $ 11,792,810 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (10,344,285 ) $ 23,856,276 Soybeans futures contracts 977,658 (3,855,440 ) Sugar futures contracts (948,329 ) (1,014,429 ) Wheat futures contracts (92,957,415 ) 93,269,812 Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (103,278,313 ) $ 112,241,847 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (24,479,726 ) $ (739,577 ) Soybeans futures contracts 270,814 (2,895,763 ) Sugar futures contracts 11,018,654 933,062 Wheat futures contracts (72,771,330 ) 34,604 Bitcoin futures Contracts 524,179 (9,669 ) Total commodity and cryptocurrency futures contracts $ (85,437,409 ) $ (2,677,343 ) Realized Gain (Loss) on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,678,780 $ (3,698,432 ) Soybeans futures contracts 10,675,505 (5,768,700 ) Sugar futures contracts (476,906 ) (2,281,371 ) Wheat futures contracts (53,537,910 ) (3,790,712 ) Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (14,666,473 ) $ (15,553,587 ) |
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 $ 1,866,449 $ - $ 1,866,449 $ 107,186 $ 997,931 $ 761,332 (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 $ 107,186 $ - $ 107,186 $ 107,186 $ - $ - (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 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ 2,271,032 $ 934,750 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ (948,329 ) $ (1,014,429 ) Realized Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ 11,018,654 $ 933,062 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ (476,906 ) $ (2,281,371 ) |
Note 6 - Financial Highlights_8
Note 6 - Financial Highlights - Teucrium Sugar Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Teucrium Sugar Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Three months ended Three months ended Nine months ended Nine months ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Per Share Operation Performance Net asset value at beginning of period $ 12.70 $ 9.32 $ 9.51 $ 9.23 Income (loss) from investment operations: Investment income 0.18 0.05 0.45 0.07 Net realized and unrealized gain (loss) on commodity futures contracts 2.00 (0.60 ) 5.07 (0.45 ) Total expenses, net (0.12 ) (0.04 ) (0.28 ) (0.12 ) Net increase (decrease) in net asset value 2.06 (0.59 ) 5.24 (0.50 ) Net asset value at end of period $ 14.76 $ 8.73 $ 14.76 $ 8.73 Total Return 16.20 % -6.34 % 55.11 % -5.38 % Ratios to Average Net Assets (Annualized) Total expenses 3.44 % 1.81 % 3.04 % 2.12 % Total expenses, net 3.44 % 1.81 % 3.04 % 1.75 % Net investment income (loss) 1.82 % 0.28 % 1.86 % -0.71 % |
Schedule of Investments (Una_10
Schedule of Investments (Unaudited) - Teucrium Wheat Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 70,144,326 $ 70,144,326 20.53 % 70,144,326 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 77,776,959 77,776,959 22.77 77,776,959 Total money market funds $ 147,921,285 $ 147,921,285 43.30 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 4,956,994 $ 4,992,180 1.46 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % 3,967,700 3,993,666 1.17 4,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 4,952,500 4,981,792 1.46 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 4,938,250 4,948,542 1.45 5,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 9,873,444 9,997,022 2.93 10,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 4,933,250 4,982,000 1.46 5,000,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 1.46 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 0.73 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 4,940,626 4,998,416 1.46 5,000,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 0.70 2,400,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 7,434,201 7,496,475 2.19 7,500,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 4,957,222 4,972,000 1.46 5,000,000 Hyundai Capital America November 13, 2023 5.509 % 7,405,500 7,451,625 2.18 7,500,000 Jabil Inc. October 13, 2023 5.793 % 14,945,375 14,971,500 4.38 15,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 1.46 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 9,937,932 9,986,700 2.92 10,000,000 National Fuel Gas Company October 17, 2023 5.754 % 9,954,406 9,974,845 2.92 10,000,000 National Fuel Gas Company October 19, 2023 5.755 % 7,463,445 7,478,775 2.19 7,500,000 V.F. Corporation November 13, 2023 5.497 % 4,958,750 4,967,750 1.45 5,000,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 1.45 5,000,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 9,908,335 9,950,147 2.91 10,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 9,861,057 9,903,064 2.90 10,000,000 Total Commercial Paper $ 145,108,778 $ 145,852,514 42.69 % Total Cash Equivalents $ 293,773,799 85.99 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.04 % $ 10,809,075 United States sugar futures contracts ICE sugar futures MAY24 301 993,509 0.29 8,515,651 ICE sugar futures MAR25 321 872,940 0.26 8,552,981 United States CME Bitcoin futures contracts CME Bitcoin futures OCT23 6 2,464 0.00 813,000 CME Bitcoin futures NOV23 6 17,019 0.00 818,250 Total commodity and cryptocurrency futures contracts $ 2,020,707 0.59 % $ 29,508,957 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 MAR 24 1,286 $ 1,365,651 0.40 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.06 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.16 31,652,400 United States soybean futures contracts CBOT soybean futures MAR24 142 465,562 0.14 9,302,775 CBOT soybean futures NOV24 176 44,606 0.01 11,088,000 United States sugar futures contracts ICE sugar futures JUL24 268 107,186 0.03 7,293,888 0.00 United States wheat futures contracts CBOT wheat futures MAR24 2,329 11,184,967 3.27 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 1.29 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 2.22 69,309,250 Total commodity and cryptocurrency futures contracts $ 25,923,738 7.58 % $ 311,956,976 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 5,670,302 1.66 % 257,033 Teucrium Soybean Fund 5,503,425 1.61 203,005 Teucrium Sugar Fund 5,479,366 1.60 371,271 Teucrium Wheat Fund 5,322,814 1.56 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 6.43 % 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 % |
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 U.S. Bank Deposit Account 5.270 % $ 43,069,070 $ 43,069,070 22.21 % 43,069,070 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 54,668,092 54,668,092 28.19 54,668,092 Total money market funds $ 97,737,162 $ 97,737,162 50.40 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 2,478,497 $ 2,496,090 1.29 % 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 2,476,250 2,490,896 1.28 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 2,469,125 2,474,271 1.28 2,500,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 4,936,722 4,998,511 2.58 5,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 2,466,625 2,491,000 1.28 2,500,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 2.57 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 1.28 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 2,470,313 2,499,208 1.29 2,500,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 4,956,134 4,997,650 2.58 5,000,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 2,478,611 2,486,000 1.28 2,500,000 Hyundai Capital America November 13, 2023 5.509 % 4,937,000 4,967,750 2.56 5,000,000 Jabil Inc. October 13, 2023 5.793 % 9,963,583 9,981,000 5.15 10,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 2.57 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 2,484,483 2,496,675 1.29 2,500,000 National Fuel Gas Company October 17, 2023 5.754 % 4,977,203 4,987,423 2.57 5,000,000 National Fuel Gas Company October 19, 2023 5.755 % 2,487,815 2,492,925 1.29 2,500,000 V.F. Corporation November 13, 2023 5.497 % 2,479,375 2,483,875 1.28 2,500,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 2.55 5,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 4,930,529 4,951,532 2.55 5,000,000 Total Commercial Paper $ 74,326,989 $ 74,701,941 38.52 % Total Cash Equivalents $ 172,439,103 88.92 % 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 MAR24 2,329 $ 11,184,967 5.77 % $ 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 2.28 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 3.90 69,309,250 Total commodity futures contracts $ 23,185,502 11.95 % $ 193,873,288 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 |
Note 1 - Organization and Op_11
Note 1 - Organization and Operation - Teucrium Wheat Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
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) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 115,736 $ 151,161 $ 333,733 $ 280,651 Amount of Custody Services Waived $ 3,360 $ 7,455 $ 19,876 $ 35,556 Amount Recognized for Distribution Services $ 35,012 $ 53,835 $ 111,505 $ 147,890 Amount of Distribution Services Waived $ 1,835 $ 2,739 $ 6,771 $ 45,733 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 171 $ 550 $ 171 $ 550 Amount Recognized for Thales $ 54,612 $ 54,755 $ 92,190 $ 212,879 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 103,396 |
Teucrium Wheat Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Amount Recognized for Custody Services $ 56,664 $ 83,198 $ 173,789 $ 156,575 Amount of Custody Services Waived $ - $ - $ - $ 14,164 Amount Recognized for Distribution Services $ 17,900 $ 30,177 $ 58,623 $ 72,723 Amount of Distribution Services Waived $ - $ - $ - $ 14,931 Amount Recognized for Wilmington Trust $ 1,720 $ 550 $ 1,720 $ 550 Amount of Wilmington Trust Waived $ - $ - $ - $ - Amount Recognized for Thales $ 28,348 $ 31,037 $ 48,338 $ 97,518 Amount of Thales Waived $ - $ - $ - $ 66,481 |
Note 3 - Summary of Signific_12
Note 3 - Summary of Significant Accounting Policies - Teucrium Wheat Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ 23,697 $ 2,220 $ 3,707 $ 40,896 $ - $ 593 $ 71,113 Three months ended September 30, 2022 (1) $ 54,746 $ 6,432 $ 5,436 $ 75,136 $ - $ 949 $ 142,699 Nine months ended September 30, 2023 $ 54,865 $ 10,999 $ 19,661 $ 85,354 $ - $ 1,970 $ 172,849 Nine months ended September 30, 2022 (1) $ 188,321 $ 21,638 $ 31,972 $ 354,679 $ - $ 949 $ 597,559 |
Schedule of Cash and Cash Equivalents [Table Text Block] | September 30, 2023 December 31, 2022 Money Market Funds $ 147,921,285 $ 188,640,417 Demand Deposit Savings Accounts 28,763,367 46,061,819 Commercial Paper 145,852,514 199,360,060 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 322,537,166 $ 434,062,296 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Recognized Related Party Transactions $ 566,723 $ 638,361 $ 1,889,702 $ 2,055,991 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 498,171 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 |
Teucrium Wheat Fund [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | WEAT Three months ended September 30, 2023 $ 40,896 Three months ended September 30, 2022 $ 75,136 Nine months ended September 30, 2023 $ 85,354 Nine months ended September 30, 2022 $ 354,679 |
Schedule of Cash and Cash Equivalents [Table Text Block] | September 30, 2023 December 31, 2022 Money Market Funds $ 97,737,162 $ 99,826,276 Demand Deposit Savings Accounts 10,097,641 12,309,984 Commercial Paper 74,701,941 97,594,565 Total cash and cash equivalents as presented on the Statement of Assets and Liabilities $ 182,536,744 $ 209,730,825 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 288,121 $ 358,130 $ 983,183 $ 1,011,184 Waived Related Party Transactions $ - $ - $ - $ 224,587 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | WEAT Three months ended September 30, 2023 $ - Three months ended September 30, 2022 $ - Nine months ended September 30, 2023 $ - Nine months ended September 30, 2022 $ 425,164 |
Note 4 - Fair Value Measurem_12
Note 4 - Fair Value Measurements - Teucrium Wheat Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
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 September 30, 2023 Cash Equivalents $ 293,773,799 $ - $ - $ 293,773,799 Commodity and Cryptocurrency Futures Contracts Soybean futures contracts 134,775 - - 134,775 Sugar futures contracts 1,866,449 - - 1,866,449 Bitcoin futures contracts 19,483 - - 19,483 Total $ 295,794,506 $ - $ - $ 295,794,506 Liabilities Level 1 Level 2 Level 3 Balance as of September 30, 2023 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Soybean futures contracts 510,168 - - 510,168 Sugar futures contracts 107,186 - - 107,186 Wheat futures contracts 23,185,502 - - 23,185,502 Total $ 25,923,738 $ - $ - $ 25,923,738 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 Cash Equivalents 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 |
Teucrium Wheat Fund [Member] | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Balance as of Assets: Level 1 Level 2 Level 3 September 30, 2023 Cash Equivalents $ 172,439,103 $ - $ - $ 172,439,103 Balance as of Liabilities Level 1 Level 2 Level 3 September 30, 2023 Commodity Futures Contracts Wheat futures contracts $ 23,185,502 $ - $ - $ 23,185,502 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2022 Cash Equivalents $ 197,420,841 $ - $ - $ 197,420,841 Commodity Futures Contracts Wheat futures contracts 3,160,732 - - 3,160,732 Total $ 200,581,573 $ - $ - $ 200,581,573 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2022 Wheat futures contracts $ 26,380,838 $ - $ - $ 26,380,838 |
Note 5 - Derivative Instrume_11
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Wheat Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 Soybean futures contracts $ 134,775 $ - $ 134,775 $ 134,775 $ - $ - Sugar futures contracts $ 1,866,449 $ - $ 1,866,449 $ 107,186 $ 997,931 $ 761,332 Bitcoin futures contracts $ 19,483 $ - $ 19,483 $ - $ - $ 19,483 Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 2,120,882 $ - $ 2,120,882 $ - $ 2,120,882 $ - Soybean futures contracts $ 510,168 $ - $ 510,168 $ 134,775 $ 375,393 $ - Sugar futures contracts $ 107,186 $ - $ 107,186 $ 107,186 $ - $ - Wheat futures contracts $ 23,185,502 $ - $ 23,185,502 $ - $ 23,185,502 $ - 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 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (13,018,346 ) $ 11,306,711 Soybeans futures contracts 311,294 (507,789 ) Sugar futures contracts 2,271,032 934,750 Wheat futures contracts (32,283,536 ) 166,327 Bitcoin futures Contracts (176,608 ) (107,189 ) Total commodity and cryptocurrency futures contracts $ (42,896,164 ) $ 11,792,810 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (10,344,285 ) $ 23,856,276 Soybeans futures contracts 977,658 (3,855,440 ) Sugar futures contracts (948,329 ) (1,014,429 ) Wheat futures contracts (92,957,415 ) 93,269,812 Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (103,278,313 ) $ 112,241,847 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (24,479,726 ) $ (739,577 ) Soybeans futures contracts 270,814 (2,895,763 ) Sugar futures contracts 11,018,654 933,062 Wheat futures contracts (72,771,330 ) 34,604 Bitcoin futures Contracts 524,179 (9,669 ) Total commodity and cryptocurrency futures contracts $ (85,437,409 ) $ (2,677,343 ) Realized Gain (Loss) on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,678,780 $ (3,698,432 ) Soybeans futures contracts 10,675,505 (5,768,700 ) Sugar futures contracts (476,906 ) (2,281,371 ) Wheat futures contracts (53,537,910 ) (3,790,712 ) Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (14,666,473 ) $ (15,553,587 ) |
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 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 $ 23,185,502 $ - $ 23,185,502 $ - $ 23,185,502 $ - (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 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ (32,283,536 ) $ 166,327 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ (92,957,415 ) $ 93,269,812 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ (72,771,330 ) $ 34,604 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ (53,537,910 ) $ (3,790,712 ) |
Note 6 - Financial Highlights_9
Note 6 - Financial Highlights - Teucrium Wheat Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Teucrium Wheat Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Three months ended Three months ended Nine months ended Nine months ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Per Share Operation Performance Net asset value at beginning of period $ 6.46 $ 9.03 $ 7.99 $ 7.38 Income (loss) from investment operations: Investment income 0.08 0.04 0.23 0.07 Net realized and unrealized (loss) gain on commodity futures contracts (0.93 ) 0.13 (2.52 ) 1.83 Total expenses, net (0.04 ) (0.04 ) (0.13 ) (0.12 ) Net (decrease) increase in net asset value (0.89 ) 0.13 (2.42 ) 1.78 Net asset value at end of period $ 5.57 $ 9.16 $ 5.57 $ 9.16 Total Return -13.81 % 1.44 % -30.25 % 24.20 % Ratios to Average Net Assets (Annualized) Total expenses 2.68 % 2.02 % 2.67 % 1.84 % Total expenses, net 2.68 % 2.02 % 2.67 % 1.69 % Net investment income (loss) 2.50 % 0.01 % 2.13 % -0.63 % |
Schedule of Investments (Una_11
Schedule of Investments (Unaudited) - Teucrium Agricultural Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 70,144,326 $ 70,144,326 20.53 % 70,144,326 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 77,776,959 77,776,959 22.77 77,776,959 Total money market funds $ 147,921,285 $ 147,921,285 43.30 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 4,956,994 $ 4,992,180 1.46 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % 3,967,700 3,993,666 1.17 4,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 4,952,500 4,981,792 1.46 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 4,938,250 4,948,542 1.45 5,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 9,873,444 9,997,022 2.93 10,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 4,933,250 4,982,000 1.46 5,000,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 1.46 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 0.73 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 4,940,626 4,998,416 1.46 5,000,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 0.70 2,400,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 7,434,201 7,496,475 2.19 7,500,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 4,957,222 4,972,000 1.46 5,000,000 Hyundai Capital America November 13, 2023 5.509 % 7,405,500 7,451,625 2.18 7,500,000 Jabil Inc. October 13, 2023 5.793 % 14,945,375 14,971,500 4.38 15,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 1.46 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 9,937,932 9,986,700 2.92 10,000,000 National Fuel Gas Company October 17, 2023 5.754 % 9,954,406 9,974,845 2.92 10,000,000 National Fuel Gas Company October 19, 2023 5.755 % 7,463,445 7,478,775 2.19 7,500,000 V.F. Corporation November 13, 2023 5.497 % 4,958,750 4,967,750 1.45 5,000,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 1.45 5,000,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 9,908,335 9,950,147 2.91 10,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 9,861,057 9,903,064 2.90 10,000,000 Total Commercial Paper $ 145,108,778 $ 145,852,514 42.69 % Total Cash Equivalents $ 293,773,799 85.99 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.04 % $ 10,809,075 United States sugar futures contracts ICE sugar futures MAY24 301 993,509 0.29 8,515,651 ICE sugar futures MAR25 321 872,940 0.26 8,552,981 United States CME Bitcoin futures contracts CME Bitcoin futures OCT23 6 2,464 0.00 813,000 CME Bitcoin futures NOV23 6 17,019 0.00 818,250 Total commodity and cryptocurrency futures contracts $ 2,020,707 0.59 % $ 29,508,957 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 MAR 24 1,286 $ 1,365,651 0.40 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.06 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.16 31,652,400 United States soybean futures contracts CBOT soybean futures MAR24 142 465,562 0.14 9,302,775 CBOT soybean futures NOV24 176 44,606 0.01 11,088,000 United States sugar futures contracts ICE sugar futures JUL24 268 107,186 0.03 7,293,888 0.00 United States wheat futures contracts CBOT wheat futures MAR24 2,329 11,184,967 3.27 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 1.29 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 2.22 69,309,250 Total commodity and cryptocurrency futures contracts $ 25,923,738 7.58 % $ 311,956,976 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 5,670,302 1.66 % 257,033 Teucrium Soybean Fund 5,503,425 1.61 203,005 Teucrium Sugar Fund 5,479,366 1.60 371,271 Teucrium Wheat Fund 5,322,814 1.56 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 6.43 % 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 % |
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 $ 5,670,302 25.79 % 257,033 Teucrium Soybean Fund 5,503,425 25.03 203,005 Teucrium Sugar Fund 5,479,366 24.92 371,271 Teucrium Wheat Fund 5,322,814 24.21 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 99.95 % Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 10,159 $ 10,159 0.05 % 10,159 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 |
Note 1 - Organization and Op_12
Note 1 - Organization and Operation - Teucrium Agricultural Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
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) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 115,736 $ 151,161 $ 333,733 $ 280,651 Amount of Custody Services Waived $ 3,360 $ 7,455 $ 19,876 $ 35,556 Amount Recognized for Distribution Services $ 35,012 $ 53,835 $ 111,505 $ 147,890 Amount of Distribution Services Waived $ 1,835 $ 2,739 $ 6,771 $ 45,733 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 171 $ 550 $ 171 $ 550 Amount Recognized for Thales $ 54,612 $ 54,755 $ 92,190 $ 212,879 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 103,396 |
Teucrium Agricultural Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Amount Recognized for Custody Services $ 3,942 $ 7,455 $ 19,341 $ 12,324 Amount of Custody Services Waived $ 2,750 $ 7,455 $ 18,149 $ 12,324 Amount Recognized for Distribution Services $ 1,619 $ 2,739 $ 6,271 $ 6,499 Amount of Distribution Services Waived $ 1,619 $ 2,739 $ 6,271 $ 6,499 Amount Recognized for Wilmington Trust $ 145 $ 550 $ 145 $ 550 Amount of Wilmington Trust Waived $ 145 $ - $ 145 $ - Amount Recognized for Thales $ 3,108 $ 2,745 $ 5,367 $ 9,000 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 5,295 |
Note 3 - Summary of Signific_13
Note 3 - Summary of Significant Accounting Policies - Teucrium Agricultural Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Recognized Related Party Transactions $ 566,723 $ 638,361 $ 1,889,702 $ 2,055,991 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 498,171 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 |
Teucrium Agricultural Fund [Member] | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 Nine months ended September 30, 2023 Nine months ended September 30, 2022 Recognized Related Party Transactions $ 26,482 $ 32,419 $ 105,812 $ 90,610 Waived Related Party Transactions $ 1,347 $ 19,090 $ 70,069 $ 66,068 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | TAGS Three months ended September 30, 2023 $ 77,482 Three months ended September 30, 2022 $ 62,059 Nine months ended September 30, 2023 $ 355,731 Nine months ended September 30, 2022 $ 176,222 |
Note 4 - Fair Value Measurem_13
Note 4 - Fair Value Measurements - Teucrium Agricultural Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
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 September 30, 2023 Cash Equivalents $ 293,773,799 $ - $ - $ 293,773,799 Commodity and Cryptocurrency Futures Contracts Soybean futures contracts 134,775 - - 134,775 Sugar futures contracts 1,866,449 - - 1,866,449 Bitcoin futures contracts 19,483 - - 19,483 Total $ 295,794,506 $ - $ - $ 295,794,506 Liabilities Level 1 Level 2 Level 3 Balance as of September 30, 2023 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Soybean futures contracts 510,168 - - 510,168 Sugar futures contracts 107,186 - - 107,186 Wheat futures contracts 23,185,502 - - 23,185,502 Total $ 25,923,738 $ - $ - $ 25,923,738 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 Cash Equivalents 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 |
Teucrium Agricultural Fund [Member] | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Balance as of Assets: Level 1 Level 2 Level 3 September 30, 2023 Exchange Traded Funds $ 21,975,907 $ - $ - $ 21,975,907 Cash Equivalents 10,159 - - 10,159 Total $ 21,986,066 $ - $ - $ 21,986,066 Balance as of Assets: Level 1 Level 2 Level 3 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 |
Note 5 - Financial Highlights_2
Note 5 - Financial Highlights - Teucrium Agricultural Fund (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Teucrium Agricultural Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Three months ended Three months ended Nine months ended Nine months ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Per Share Operation Performance Net asset value at beginning of period $ 30.33 $ 31.09 $ 31.35 $ 27.01 Income (loss) from investment operations: Net realized and unrealized (loss) gain on investment transactions 0.00 (0.01 ) (1.00 ) 4.09 Total expenses, net 0.00 (0.01 ) (0.02 ) (0.03 ) Net increase (decrease) in net asset value - (0.02 ) (1.02 ) 4.06 Net asset value at end of period $ 30.33 $ 31.07 $ 30.33 $ 31.07 Total Return -0.02 % -0.05 % -3.25 % 15.04 % Ratios to Average Net Assets (Annualized) Total expenses 1.42 % 0.66 % 1.67 % 0.80 % Total expenses, net 0.09 % 0.13 % 0.09 % 0.14 % Net investment loss -0.09 % -0.13 % -0.09 % -0.14 % |
Schedule of Investments (Una_12
Schedule of Investments (Unaudited) - Hashdex Bitcoin Futures ETF (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 70,144,326 $ 70,144,326 20.53 % 70,144,326 Goldman Sachs Financial Square Government Fund - Institutional Class 5.240 % 77,776,959 77,776,959 22.77 77,776,959 Total money market funds $ 147,921,285 $ 147,921,285 43.30 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.735 % $ 4,956,994 $ 4,992,180 1.46 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 11, 2023 5.806 % 3,967,700 3,993,666 1.17 4,000,000 Brookfield Infrastructure Holdings (Canada) Inc. October 24, 2023 5.810 % 4,952,500 4,981,792 1.46 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. December 5, 2023 5.819 % 4,938,250 4,948,542 1.45 5,000,000 General Motors Financial Company, Inc. October 3, 2023 5.468 % 9,873,444 9,997,022 2.93 10,000,000 General Motors Financial Company, Inc. October 25, 2023 5.511 % 4,933,250 4,982,000 1.46 5,000,000 General Motors Financial Company, Inc. October 27, 2023 5.546 % 4,944,090 4,980,356 1.46 5,000,000 Glencore Funding LLC November 10, 2023 5.613 % 2,467,917 2,484,723 0.73 2,500,000 Harley-Davidson Financial Services, Inc. October 3, 2023 5.817 % 4,940,626 4,998,416 1.46 5,000,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.697 % 2,385,067 2,398,880 0.70 2,400,000 Harley-Davidson Financial Services, Inc. October 4, 2023 5.746 % 7,434,201 7,496,475 2.19 7,500,000 Harley-Davidson Financial Services, Inc. November 6, 2023 5.704 % 4,957,222 4,972,000 1.46 5,000,000 Hyundai Capital America November 13, 2023 5.509 % 7,405,500 7,451,625 2.18 7,500,000 Jabil Inc. October 13, 2023 5.793 % 14,945,375 14,971,500 4.38 15,000,000 Jabil Inc. October 13, 2023 5.793 % 4,981,000 4,990,500 1.46 5,000,000 Marriott International, Inc. October 10, 2023 5.408 % 9,937,932 9,986,700 2.92 10,000,000 National Fuel Gas Company October 17, 2023 5.754 % 9,954,406 9,974,845 2.92 10,000,000 National Fuel Gas Company October 19, 2023 5.755 % 7,463,445 7,478,775 2.19 7,500,000 V.F. Corporation November 13, 2023 5.497 % 4,958,750 4,967,750 1.45 5,000,000 V.F. Corporation December 4, 2023 5.558 % 4,941,717 4,951,556 1.45 5,000,000 Walgreens Boots Alliance, Inc. November 1, 2023 5.901 % 9,908,335 9,950,147 2.91 10,000,000 Walgreens Boots Alliance, Inc. November 30, 2023 5.944 % 9,861,057 9,903,064 2.90 10,000,000 Total Commercial Paper $ 145,108,778 $ 145,852,514 42.69 % Total Cash Equivalents $ 293,773,799 85.99 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States soybean futures contracts CBOT soybean futures JAN24 167 $ 134,775 0.04 % $ 10,809,075 United States sugar futures contracts ICE sugar futures MAY24 301 993,509 0.29 8,515,651 ICE sugar futures MAR25 321 872,940 0.26 8,552,981 United States CME Bitcoin futures contracts CME Bitcoin futures OCT23 6 2,464 0.00 813,000 CME Bitcoin futures NOV23 6 17,019 0.00 818,250 Total commodity and cryptocurrency futures contracts $ 2,020,707 0.59 % $ 29,508,957 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 MAR 24 1,286 $ 1,365,651 0.40 % $ 31,619,525 CBOT corn futures MAY24 1,084 220,723 0.06 27,127,100 CBOT corn futures DEC24 1,248 534,508 0.16 31,652,400 United States soybean futures contracts CBOT soybean futures MAR24 142 465,562 0.14 9,302,775 CBOT soybean futures NOV24 176 44,606 0.01 11,088,000 United States sugar futures contracts ICE sugar futures JUL24 268 107,186 0.03 7,293,888 0.00 United States wheat futures contracts CBOT wheat futures MAR24 2,329 11,184,967 3.27 66,784,075 CBOT wheat futures MAY24 1,943 4,422,002 1.29 57,779,963 CBOT wheat futures DEC24 2,140 7,578,533 2.22 69,309,250 Total commodity and cryptocurrency futures contracts $ 25,923,738 7.58 % $ 311,956,976 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 5,670,302 1.66 % 257,033 Teucrium Soybean Fund 5,503,425 1.61 203,005 Teucrium Sugar Fund 5,479,366 1.60 371,271 Teucrium Wheat Fund 5,322,814 1.56 955,742 Total exchange-traded funds $ 22,841,003 $ 21,975,907 6.43 % 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 % |
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 U.S. Bank Deposit Account 5.270 % $ 1,181,822 $ 1,181,822 70.68 % 1,181,822 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 OCT23 6 $ 2,464 0.15 % $ 813,000 CME Bitcoin futures NOV23 6 17,019 1.02 818,250 Total cryptocurrency futures contracts $ 19,483 1.17 % $ 1,631,250 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) | 9 Months Ended |
Sep. 30, 2023 | |
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) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 115,736 $ 151,161 $ 333,733 $ 280,651 Amount of Custody Services Waived $ 3,360 $ 7,455 $ 19,876 $ 35,556 Amount Recognized for Distribution Services $ 35,012 $ 53,835 $ 111,505 $ 147,890 Amount of Distribution Services Waived $ 1,835 $ 2,739 $ 6,771 $ 45,733 Amount Recognized for Wilmington Trust $ 3,300 $ 3,300 $ 3,300 $ 3,300 Amount of Wilmington Trust Waived $ 171 $ 550 $ 171 $ 550 Amount Recognized for Thales $ 54,612 $ 54,755 $ 92,190 $ 212,879 Amount of Thales Waived $ 3,108 $ 2,605 $ 5,367 $ 103,396 |
Hashdex Bitcoin Futures ETF [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (1) Nine months ended September 30, 2023 Nine months ended September 30, 2022 (1) Amount Recognized for Custody Services $ 610 $ - $ 1,727 $ - Amount of Custody Services Waived $ 610 $ - $ 1,727 $ - Amount Recognized for Distribution Services $ 216 $ - $ 500 $ - Amount of Distribution Services Waived $ 216 $ - $ 500 $ - Amount Recognized for Wilmington Trust $ 26 $ 550 $ 26 $ 550 Amount of Wilmington Trust Waived $ 26 $ 550 $ 26 $ 550 |
Note 3 - Summary of Signific_14
Note 3 - Summary of Significant Accounting Policies - Hashdex Bitcoin Futures ETF (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ 23,697 $ 2,220 $ 3,707 $ 40,896 $ - $ 593 $ 71,113 Three months ended September 30, 2022 (1) $ 54,746 $ 6,432 $ 5,436 $ 75,136 $ - $ 949 $ 142,699 Nine months ended September 30, 2023 $ 54,865 $ 10,999 $ 19,661 $ 85,354 $ - $ 1,970 $ 172,849 Nine months ended September 30, 2022 (1) $ 188,321 $ 21,638 $ 31,972 $ 354,679 $ - $ 949 $ 597,559 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended September 30, 2023 $ - $ - $ - $ - $ 77,482 $ 91,023 $ 168,505 Three months ended September 30, 2022 (1) $ - $ - $ - $ - $ 62,059 $ 550 $ 62,609 Nine months ended September 30, 2023 $ - $ - $ - $ - $ 355,731 $ 222,642 $ 578,373 Nine months ended September 30, 2022 (1) $ 345,855 $ 89,562 $ 78,237 $ 425,164 $ 176,222 $ 550 $ 1,115,590 |
Hashdex Bitcoin Futures ETF [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | DEFI Three months ended September 30, 2023 $ 593 Three months ended September 30, 2022 (1) $ 949 Nine months ended September 30, 2023 $ 1,970 Nine months ended September 30, 2022 (1) $ 949 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | DEFI Three months ended September 30, 2023 $ 91,023 Three months ended September 30, 2022 (1) $ 550 Nine months ended September 30, 2023 $ 222,642 Nine months ended September 30, 2022 (1) $ 550 |
Note 4 - Fair Value Measurem_14
Note 4 - Fair Value Measurements - Hashdex Bitcoin Futures ETF (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
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 September 30, 2023 Cash Equivalents $ 293,773,799 $ - $ - $ 293,773,799 Commodity and Cryptocurrency Futures Contracts Soybean futures contracts 134,775 - - 134,775 Sugar futures contracts 1,866,449 - - 1,866,449 Bitcoin futures contracts 19,483 - - 19,483 Total $ 295,794,506 $ - $ - $ 295,794,506 Liabilities Level 1 Level 2 Level 3 Balance as of September 30, 2023 Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,120,882 $ - $ - $ 2,120,882 Soybean futures contracts 510,168 - - 510,168 Sugar futures contracts 107,186 - - 107,186 Wheat futures contracts 23,185,502 - - 23,185,502 Total $ 25,923,738 $ - $ - $ 25,923,738 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 Cash Equivalents 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 |
Hashdex Bitcoin Futures ETF [Member] | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Balance as of Assets: Level 1 Level 2 Level 3 September 30, 2023 Cash Equivalents $ 1,181,822 $ - $ - $ 1,181,822 Cryptocurrency Futures Contracts Bitcoin futures contracts 19,483 - - 19,483 Total $ 1,201,305 $ - $ - $ 1,201,305 Balance as of Assets: Level 1 Level 2 Level 3 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) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Offsetting of Financial Assets and Derivative Assets as of September 30, 2023 (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 Soybean futures contracts $ 134,775 $ - $ 134,775 $ 134,775 $ - $ - Sugar futures contracts $ 1,866,449 $ - $ 1,866,449 $ 107,186 $ 997,931 $ 761,332 Bitcoin futures contracts $ 19,483 $ - $ 19,483 $ - $ - $ 19,483 Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 2023 (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 $ 2,120,882 $ - $ 2,120,882 $ - $ 2,120,882 $ - Soybean futures contracts $ 510,168 $ - $ 510,168 $ 134,775 $ 375,393 $ - Sugar futures contracts $ 107,186 $ - $ 107,186 $ 107,186 $ - $ - Wheat futures contracts $ 23,185,502 $ - $ 23,185,502 $ - $ 23,185,502 $ - 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 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (13,018,346 ) $ 11,306,711 Soybeans futures contracts 311,294 (507,789 ) Sugar futures contracts 2,271,032 934,750 Wheat futures contracts (32,283,536 ) 166,327 Bitcoin futures Contracts (176,608 ) (107,189 ) Total commodity and cryptocurrency futures contracts $ (42,896,164 ) $ 11,792,810 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation (Depreciation) on Commodity Futures Contracts Commodity Price Corn futures contracts $ (10,344,285 ) $ 23,856,276 Soybeans futures contracts 977,658 (3,855,440 ) Sugar futures contracts (948,329 ) (1,014,429 ) Wheat futures contracts (92,957,415 ) 93,269,812 Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (103,278,313 ) $ 112,241,847 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (24,479,726 ) $ (739,577 ) Soybeans futures contracts 270,814 (2,895,763 ) Sugar futures contracts 11,018,654 933,062 Wheat futures contracts (72,771,330 ) 34,604 Bitcoin futures Contracts 524,179 (9,669 ) Total commodity and cryptocurrency futures contracts $ (85,437,409 ) $ (2,677,343 ) Realized Gain (Loss) on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ 28,678,780 $ (3,698,432 ) Soybeans futures contracts 10,675,505 (5,768,700 ) Sugar futures contracts (476,906 ) (2,281,371 ) Wheat futures contracts (53,537,910 ) (3,790,712 ) Bitcoin futures Contracts (5,942 ) (14,372 ) Total commodity and cryptocurrency futures contracts $ (14,666,473 ) $ (15,553,587 ) |
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 $ 19,483 $ - $ 19,483 $ - $ - $ 19,483 (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 from Broker* Net Amount Cryptocurrency Price Bitcoin futures contracts $ 29,152 $ - $ 29,152 $ - $ - $ 29,152 |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Cryptocurrency Futures Contracts Net Change in Unrealized Depreciation on Cryptocurrency Futures Contracts Cryptocurrency Price Bitcoin futures Contracts $ (176,608 ) $ (107,189 ) Realized Loss on Cryptocurrency Futures Contracts Net Change in Unrealized Depreciation on Cryptocurrency Futures Contracts Cryptocurrency Price Bitcoin futures Contracts $ 524,179 $ (9,669 ) Realized Loss on Cryptocurrency Futures Contracts Net Change in Unrealized Depreciation on Cryptocurrency Futures Contracts Cryptocurrency Price Bitcoin futures Contracts $ (5,942 ) $ (14,372 ) |
Note 6 - Financial Highlight_10
Note 6 - Financial Highlights - Hashdex Bitcoin Futures ETF (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Hashdex Bitcoin Futures ETF [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Three months ended Nine months ended From the commencement of operations (September 15, 2022) September 30, 2023 September 30, 2023 through September 30, 2022 Per Share Operation Performance Net asset value at beginning of period $ 38.78 $ 21.40 $ 25.00 Income (loss) from investment operations: Investment income 0.42 1.06 0.03 Net realized and unrealized (loss) gain on cryptocurrency futures contracts (5.68 ) 11.21 (0.41 ) Total expenses, net (0.08 ) (0.23 ) (0.01 ) Net (decrease) increase in net asset value (5.34 ) 12.04 (0.39 ) Net asset value at end of period $ 33.44 $ 33.44 $ 24.61 Total Return -13.76 % 56.23 % -1.57 % Ratios to Average Net Assets (Annualized) Total expenses 21.29 % 17.69 % 2.31 % Total expenses, net 0.94 % 0.94 % 0.94 % Net investment income 3.80 % 3.28 % 1.74 % |
Combined Schedule of Investme_3
Combined Schedule of Investments (Unaudited) - Investments (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 | |
Sugar Futures Contracts [Member] | Liability [Member] | |||
Fair value | |||
Percentage of net assets | 0% | ||
Fair value | |||
Number of contracts | |||
Notional amount, liability | |||
Commodity and Cryptocurrency Futures Contracts [Member] | |||
Fair value | $ 8,207,381 | ||
Percentage of net assets | 1.77% | ||
Fair value | $ 8,207,381 | ||
Notional amount, asset | 189,657,513 | ||
Commodity and Cryptocurrency Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 25,923,738 | $ 29,433,069 | |
Percentage of net assets | 7.58% | 6.33% | |
Fair value | $ 25,923,738 | $ 29,433,069 | |
Notional amount, liability | 311,956,976 | 275,693,541 | |
Money Market Funds [Member] | |||
Cost | 147,921,285 | 188,640,417 | |
Fair value | $ 147,921,285 | $ 188,640,417 | |
Percentage of net assets | 43.30% | 40.54% | |
Investments, at cost | $ 147,921,285 | $ 188,640,417 | |
Fair value | $ 147,921,285 | $ 188,640,417 | |
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | |||
Index | 4.105% | ||
Cost | $ 28,382,122 | ||
Fair value | $ 28,382,122 | ||
Percentage of net assets | 6.10% | ||
Shares (in shares) | 28,382,122 | ||
Investments, at cost | $ 28,382,122 | ||
Fair value | $ 28,382,122 | ||
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | |||
Index | 5.24% | 4.14% | |
Cost | $ 77,776,959 | $ 160,258,295 | |
Fair value | $ 77,776,959 | $ 160,258,295 | |
Percentage of net assets | 22.77% | 34.44% | |
Shares (in shares) | 77,776,959 | 160,258,295 | |
Investments, at cost | $ 77,776,959 | $ 160,258,295 | |
Fair value | $ 77,776,959 | 160,258,295 | |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | |||
Index | 5.27% | ||
Cost | $ 70,144,326 | ||
Fair value | $ 70,144,326 | ||
Percentage of net assets | 20.53% | ||
Shares (in shares) | 70,144,326 | ||
Investments, at cost | $ 70,144,326 | ||
Fair value | 70,144,326 | ||
CBOT Corn Futures JUL23 [Member] | Corn Futures Contracts [Member] | |||
Fair value | $ 1,585,798 | ||
Percentage of net assets | 0.34% | ||
Fair value | $ 1,585,798 | ||
Number of contracts | 1,363 | ||
Notional amount, asset | $ 45,779,763 | ||
CBOT Corn Futures MAY23 [Member] | Commodity Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 751,309 | ||
Percentage of net assets | 0.16% | ||
Fair value | $ 751,309 | ||
Number of contracts | 1,575 | ||
Notional amount, liability | $ 53,392,500 | ||
Exchange Traded Funds [Member] | |||
Cost | [1] | 22,841,003 | 39,425,287 |
Fair value | [1] | $ 21,975,907 | $ 39,572,698 |
Percentage of net assets | [1] | 6.43% | 8.49% |
Investments, at cost | [1] | $ 22,841,003 | $ 39,425,287 |
Fair value | [1] | 21,975,907 | 39,572,698 |
Exchange Traded Funds [Member] | Teucrium Corn Fund [Member] | |||
Fair value | [1] | $ 5,670,302 | $ 9,885,980 |
Percentage of net assets | [1] | 1.66% | 2.12% |
Shares (in shares) | [1] | 257,033 | 367,555 |
Fair value | [1] | $ 5,670,302 | $ 9,885,980 |
Exchange Traded Funds [Member] | Teucrium Soybean Fund [Member] | |||
Fair value | [1] | $ 5,503,425 | $ 9,921,042 |
Percentage of net assets | [1] | 1.61% | 2.13% |
Shares (in shares) | [1] | 203,005 | 348,075 |
Fair value | [1] | $ 5,503,425 | $ 9,921,042 |
Exchange Traded Funds [Member] | Teucrium Sugar Fund [Member] | |||
Fair value | [1] | $ 5,479,366 | $ 9,745,653 |
Percentage of net assets | [1] | 1.60% | 2.09% |
Shares (in shares) | [1] | 371,271 | 1,024,284 |
Fair value | [1] | $ 5,479,366 | $ 9,745,653 |
Exchange Traded Funds [Member] | Teucrium Wheat Fund [Member] | |||
Fair value | [1] | $ 5,322,814 | $ 10,020,023 |
Percentage of net assets | [1] | 1.56% | 2.15% |
Shares (in shares) | [1] | 955,742 | 1,254,840 |
Fair value | [1] | $ 5,322,814 | $ 10,020,023 |
CBOT Soybean Futures MAR23 [Member] | Soybean Futures Contracts [Member] | |||
Fair value | $ 642,912 | ||
Percentage of net assets | 0.14% | ||
Fair value | $ 642,912 | ||
Number of contracts | 268 | ||
Notional amount, asset | $ 20,421,600 | ||
CBOT Corn Futures DEC23 [Member] | Commodity Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 2,215,794 | ||
Percentage of net assets | 0.48% | ||
Fair value | $ 2,215,794 | ||
Number of contracts | 1,750 | ||
Notional amount, liability | $ 53,440,625 | ||
Commercial Paper, One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | |||
Index | 5.735% | 4.742% | |
Cost | $ 4,956,994 | $ 14,877,488 | |
Fair value | $ 4,992,180 | $ 14,968,886 | |
Percentage of net assets | 1.46% | 3.22% | |
Maturity date | Oct. 11, 2023 | Jan. 17, 2023 | |
Principal amount | $ 5,000,000 | $ 15,000,000 | |
Investments, at cost | 4,956,994 | 14,877,488 | |
Fair value | 4,992,180 | 14,968,886 | |
Principal amount | $ 5,000,000 | $ 15,000,000 | |
Commercial Paper, 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 | ||
Investments, at cost | 9,935,000 | ||
Fair value | 9,972,500 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper, One [Member] | General Motors Financial Company, Inc. [Member] | |||
Index | 5.468% | 4.276% | |
Cost | $ 9,873,444 | $ 12,400,060 | |
Fair value | $ 9,997,022 | $ 12,486,207 | |
Percentage of net assets | 2.93% | 2.68% | |
Maturity date | Oct. 03, 2023 | Jan. 10, 2023 | |
Principal amount | $ 10,000,000 | $ 12,500,000 | |
Investments, at cost | 9,873,444 | 12,400,060 | |
Fair value | 9,997,022 | 12,486,207 | |
Principal amount | $ 10,000,000 | $ 12,500,000 | |
Commercial Paper, 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 | ||
Investments, at cost | 7,443,000 | ||
Fair value | 7,491,000 | ||
Principal amount | $ 7,500,000 | ||
Commercial Paper, 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 | ||
Investments, at cost | 9,934,607 | ||
Fair value | 9,988,895 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper, One [Member] | Harley-Davidson Financial Services, Inc. [Member] | |||
Index | 5.817% | 4.721% | |
Cost | $ 4,940,626 | $ 5,263,032 | |
Fair value | $ 4,998,416 | $ 5,298,631 | |
Percentage of net assets | 1.46% | 1.14% | |
Maturity date | Oct. 03, 2023 | Jan. 03, 2023 | |
Principal amount | $ 5,000,000 | $ 5,300,000 | |
Investments, at cost | 4,940,626 | 5,263,032 | |
Fair value | 4,998,416 | 5,298,631 | |
Principal amount | $ 5,000,000 | $ 5,300,000 | |
Commercial Paper, One [Member] | Jabil Inc. [Member] | |||
Index | 5.793% | ||
Cost | $ 14,945,375 | ||
Fair value | $ 14,971,500 | ||
Percentage of net assets | 4.38% | ||
Maturity date | Oct. 13, 2023 | ||
Principal amount | $ 15,000,000 | ||
Investments, at cost | 14,945,375 | ||
Fair value | 14,971,500 | ||
Principal amount | $ 15,000,000 | ||
Commercial Paper, One [Member] | National Fuel Gas Company [Member] | |||
Index | 5.754% | ||
Cost | $ 9,954,406 | ||
Fair value | $ 9,974,845 | ||
Percentage of net assets | 2.92% | ||
Maturity date | Oct. 17, 2023 | ||
Principal amount | $ 10,000,000 | ||
Investments, at cost | 9,954,406 | ||
Fair value | 9,974,845 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper, One [Member] | V.F. Corporation [Member] | |||
Index | 5.497% | 4.364% | |
Cost | $ 4,958,750 | $ 4,959,390 | |
Fair value | $ 4,967,750 | $ 4,990,444 | |
Percentage of net assets | 1.45% | 1.07% | |
Maturity date | Nov. 13, 2023 | Jan. 17, 2023 | |
Principal amount | $ 5,000,000 | $ 5,000,000 | |
Investments, at cost | 4,958,750 | 4,959,390 | |
Fair value | 4,967,750 | 4,990,444 | |
Principal amount | $ 5,000,000 | $ 5,000,000 | |
Commercial Paper, 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 | ||
Investments, at cost | 4,973,125 | ||
Fair value | 4,997,611 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, One [Member] | Walgreens Boots Alliance, Inc. [Member] | |||
Index | 5.901% | 4.842% | |
Cost | $ 9,908,335 | $ 4,970,188 | |
Fair value | $ 9,950,147 | $ 4,971,512 | |
Percentage of net assets | 2.91% | 1.07% | |
Maturity date | Nov. 01, 2023 | Feb. 13, 2023 | |
Principal amount | $ 10,000,000 | $ 5,000,000 | |
Investments, at cost | 9,908,335 | 4,970,188 | |
Fair value | 9,950,147 | 4,971,512 | |
Principal amount | 10,000,000 | 5,000,000 | |
CBOT Soybean Futures JAN24 [Member] | Soybean Futures Contracts [Member] | |||
Fair value | $ 134,775 | ||
Percentage of net assets | 0.04% | ||
Fair value | $ 134,775 | ||
Number of contracts | 167 | ||
Notional amount, asset | $ 10,809,075 | ||
CBOT Corn Futures MAR 24 [Member] | Commodity Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 1,365,651 | ||
Percentage of net assets | 0.40% | ||
Fair value | $ 1,365,651 | ||
Number of contracts | 1,286 | ||
Notional amount, liability | $ 31,619,525 | ||
Commercial Paper [Member] | |||
Cost | 145,108,778 | 198,351,250 | |
Fair value | $ 145,852,514 | $ 199,360,060 | |
Percentage of net assets | 42.69% | 42.84% | |
Investments, at cost | $ 145,108,778 | $ 198,351,250 | |
Fair value | $ 145,852,514 | $ 199,360,060 | |
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 | ||
Investments, at cost | 4,968,750 | ||
Fair value | 4,990,000 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Glencore Funding LLC [Member] | |||
Index | 5.613% | ||
Cost | $ 2,467,917 | ||
Fair value | $ 2,484,723 | ||
Percentage of net assets | 0.73% | ||
Maturity date | Nov. 10, 2023 | ||
Principal amount | $ 2,500,000 | ||
Investments, at cost | 2,467,917 | ||
Fair value | 2,484,723 | ||
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 | ||
Investments, at cost | 9,926,808 | ||
Fair value | 9,996,460 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper [Member] | Hyundai Capital America [Member] | |||
Index | 5.509% | 4% | |
Cost | $ 7,405,500 | $ 9,903,645 | |
Fair value | $ 7,451,625 | $ 9,990,145 | |
Percentage of net assets | 2.18% | 2.15% | |
Maturity date | Nov. 13, 2023 | Jan. 10, 2023 | |
Principal amount | $ 7,500,000 | $ 10,000,000 | |
Investments, at cost | 7,405,500 | 9,903,645 | |
Fair value | 7,451,625 | 9,990,145 | |
Principal amount | $ 7,500,000 | $ 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 | ||
Investments, at cost | 4,980,555 | ||
Fair value | 4,991,667 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper [Member] | Marriott International, Inc. [Member] | |||
Index | 5.408% | ||
Cost | $ 9,937,932 | ||
Fair value | $ 9,986,700 | ||
Percentage of net assets | 2.92% | ||
Maturity date | Oct. 10, 2023 | ||
Principal amount | $ 10,000,000 | ||
Investments, at cost | 9,937,932 | ||
Fair value | 9,986,700 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper [Member] | Humana Inc. [Member] | |||
Index | 4.67% | ||
Cost | $ 7,448,250 | ||
Fair value | $ 7,492,333 | ||
Percentage of net assets | 1.61% | ||
Maturity date | Jan. 09, 2023 | ||
Principal amount | $ 7,500,000 | ||
Investments, at cost | 7,448,250 | ||
Fair value | 7,492,333 | ||
Principal amount | $ 7,500,000 | ||
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 | ||
Investments, at cost | 4,965,088 | ||
Fair value | 4,988,975 | ||
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 | ||
Investments, at cost | 7,448,106 | ||
Fair value | 7,483,613 | ||
Principal amount | 7,500,000 | ||
CBOT Soybean Futures MAY23 [Member] | Soybean Futures Contracts [Member] | |||
Fair value | $ 807,218 | ||
Percentage of net assets | 0.17% | ||
Fair value | $ 807,218 | ||
Number of contracts | 229 | ||
Notional amount, asset | $ 17,518,500 | ||
ICE Sugar Futures MAR24 [Member] | Commodity Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 85,128 | ||
Percentage of net assets | 0.02% | ||
Fair value | $ 85,128 | ||
Number of contracts | 427 | ||
Notional amount, liability | $ 8,565,278 | ||
Commercial Paper, Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | |||
Index | 5.806% | 4.734% | |
Cost | $ 3,967,700 | $ 4,959,225 | |
Fair value | $ 3,993,666 | $ 4,989,644 | |
Percentage of net assets | 1.17% | 1.07% | |
Maturity date | Oct. 11, 2023 | Jan. 17, 2023 | |
Principal amount | $ 4,000,000 | $ 5,000,000 | |
Investments, at cost | 3,967,700 | 4,959,225 | |
Fair value | 3,993,666 | 4,989,644 | |
Principal amount | $ 4,000,000 | $ 5,000,000 | |
Commercial Paper, 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 | ||
Investments, at cost | 9,899,472 | ||
Fair value | 9,943,862 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper, Two [Member] | General Motors Financial Company, Inc. [Member] | |||
Index | 5.511% | 4.473% | |
Cost | $ 4,933,250 | $ 7,418,417 | |
Fair value | $ 4,982,000 | $ 7,484,417 | |
Percentage of net assets | 1.46% | 1.61% | |
Maturity date | Oct. 25, 2023 | Jan. 18, 2023 | |
Principal amount | $ 5,000,000 | $ 7,500,000 | |
Investments, at cost | 4,933,250 | 7,418,417 | |
Fair value | 4,982,000 | 7,484,417 | |
Principal amount | $ 5,000,000 | $ 7,500,000 | |
Commercial Paper, 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 | ||
Investments, at cost | 12,449,410 | ||
Fair value | 12,482,050 | ||
Principal amount | $ 12,500,000 | ||
Commercial Paper, 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 | ||
Investments, at cost | 5,461,843 | ||
Fair value | 5,491,823 | ||
Principal amount | $ 5,500,000 | ||
Commercial Paper, Two [Member] | Harley-Davidson Financial Services, Inc. [Member] | |||
Index | 5.697% | 4.944% | |
Cost | $ 2,385,067 | $ 7,458,402 | |
Fair value | $ 2,398,880 | $ 7,475,650 | |
Percentage of net assets | 0.70% | 1.61% | |
Maturity date | Oct. 04, 2023 | Jan. 25, 2023 | |
Principal amount | $ 2,400,000 | $ 7,500,000 | |
Investments, at cost | 2,385,067 | 7,458,402 | |
Fair value | 2,398,880 | 7,475,650 | |
Principal amount | $ 2,400,000 | $ 7,500,000 | |
Commercial Paper, Two [Member] | Jabil Inc. [Member] | |||
Index | 5.793% | ||
Cost | $ 4,981,000 | ||
Fair value | $ 4,990,500 | ||
Percentage of net assets | 1.46% | ||
Maturity date | Oct. 13, 2023 | ||
Principal amount | $ 5,000,000 | ||
Investments, at cost | 4,981,000 | ||
Fair value | 4,990,500 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, Two [Member] | National Fuel Gas Company [Member] | |||
Index | 5.755% | ||
Cost | $ 7,463,445 | ||
Fair value | $ 7,478,775 | ||
Percentage of net assets | 2.19% | ||
Maturity date | Oct. 19, 2023 | ||
Principal amount | $ 7,500,000 | ||
Investments, at cost | 7,463,445 | ||
Fair value | 7,478,775 | ||
Principal amount | $ 7,500,000 | ||
Commercial Paper, Two [Member] | V.F. Corporation [Member] | |||
Index | 5.558% | 4.669% | |
Cost | $ 4,941,717 | $ 6,456,811 | |
Fair value | $ 4,951,556 | $ 6,473,422 | |
Percentage of net assets | 1.45% | 1.39% | |
Maturity date | Dec. 04, 2023 | Feb. 02, 2023 | |
Principal amount | $ 5,000,000 | $ 6,500,000 | |
Investments, at cost | 4,941,717 | 6,456,811 | |
Fair value | 4,951,556 | 6,473,422 | |
Principal amount | $ 5,000,000 | $ 6,500,000 | |
Commercial Paper, 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 | ||
Investments, at cost | 9,931,919 | ||
Fair value | 9,980,889 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper, Two [Member] | Walgreens Boots Alliance, Inc. [Member] | |||
Index | 5.944% | 4.827% | |
Cost | $ 9,861,057 | $ 4,959,098 | |
Fair value | $ 9,903,064 | $ 4,961,736 | |
Percentage of net assets | 2.90% | 1.07% | |
Maturity date | Nov. 30, 2023 | Feb. 28, 2023 | |
Principal amount | $ 10,000,000 | $ 5,000,000 | |
Investments, at cost | 9,861,057 | 4,959,098 | |
Fair value | 9,903,064 | 4,961,736 | |
Principal amount | 10,000,000 | 5,000,000 | |
ICE Sugar Futures MAY24 [Member] | Sugar Futures Contracts [Member] | |||
Fair value | $ 993,509 | ||
Percentage of net assets | 0.29% | ||
Fair value | $ 993,509 | ||
Number of contracts | 301 | ||
Notional amount, asset | $ 8,515,651 | ||
CBOT Corn Futures MAY24 [Member] | Commodity Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 220,723 | ||
Percentage of net assets | 0.06% | ||
Fair value | $ 220,723 | ||
Number of contracts | 1,084 | ||
Notional amount, liability | $ 27,127,100 | ||
CBOT Soybean Futures NOV23 [Member] | Soybean Futures Contracts [Member] | |||
Fair value | $ 1,070,240 | ||
Percentage of net assets | 0.23% | ||
Fair value | $ 1,070,240 | ||
Number of contracts | 289 | ||
Notional amount, asset | $ 20,472,038 | ||
CBOT Wheat Futures MAY23 [Member] | Commodity Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 7,079,231 | ||
Percentage of net assets | 1.52% | ||
Fair value | $ 7,079,231 | ||
Number of contracts | 2,005 | ||
Notional amount, liability | $ 80,074,688 | ||
Commercial Paper, Three [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | |||
Index | 5.81% | ||
Cost | $ 4,952,500 | ||
Fair value | $ 4,981,792 | ||
Percentage of net assets | 1.46% | ||
Maturity date | Oct. 24, 2023 | ||
Principal amount | $ 5,000,000 | ||
Investments, at cost | 4,952,500 | ||
Fair value | 4,981,792 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, Three [Member] | General Motors Financial Company, Inc. [Member] | |||
Index | 5.546% | ||
Cost | $ 4,944,090 | ||
Fair value | $ 4,980,356 | ||
Percentage of net assets | 1.46% | ||
Maturity date | Oct. 27, 2023 | ||
Principal amount | $ 5,000,000 | ||
Investments, at cost | 4,944,090 | ||
Fair value | 4,980,356 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, Three [Member] | Harley-Davidson Financial Services, Inc. [Member] | |||
Index | 5.746% | 5.104% | |
Cost | $ 7,434,201 | $ 4,959,561 | |
Fair value | $ 7,496,475 | $ 4,977,688 | |
Percentage of net assets | 2.19% | 1.07% | |
Maturity date | Oct. 04, 2023 | Feb. 02, 2023 | |
Principal amount | $ 7,500,000 | $ 5,000,000 | |
Investments, at cost | 7,434,201 | 4,959,561 | |
Fair value | 7,496,475 | 4,977,688 | |
Principal amount | 7,500,000 | 5,000,000 | |
ICE Sugar Futures MAR25 [Member] | Sugar Futures Contracts [Member] | |||
Fair value | $ 872,940 | ||
Percentage of net assets | 0.26% | ||
Fair value | $ 872,940 | ||
Number of contracts | 321 | ||
Notional amount, asset | $ 8,552,981 | ||
CBOT Corn Futures DEC24 [Member] | Commodity Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 534,508 | ||
Percentage of net assets | 0.16% | ||
Fair value | $ 534,508 | ||
Number of contracts | 1,248 | ||
Notional amount, liability | $ 31,652,400 | ||
ICE Sugar Futures MAY23 [Member] | Sugar Futures Contracts [Member] | |||
Fair value | $ 356,963 | ||
Percentage of net assets | 0.08% | ||
Fair value | $ 356,963 | ||
Number of contracts | 401 | ||
Notional amount, asset | $ 8,407,526 | ||
CBOT Wheat Futures DEC23 [Member] | Commodity Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 19,301,607 | ||
Percentage of net assets | 4.15% | ||
Fair value | $ 19,301,607 | ||
Number of contracts | 1,956 | ||
Notional amount, liability | $ 80,220,450 | ||
Commercial Paper Four [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | |||
Index | 5.819% | ||
Cost | $ 4,938,250 | ||
Fair value | $ 4,948,542 | ||
Percentage of net assets | 1.45% | ||
Maturity date | Dec. 05, 2023 | ||
Principal amount | $ 5,000,000 | ||
Investments, at cost | 4,938,250 | ||
Fair value | 4,948,542 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper Four [Member] | Harley-Davidson Financial Services, Inc. [Member] | |||
Index | 5.704% | ||
Cost | $ 4,957,222 | ||
Fair value | $ 4,972,000 | ||
Percentage of net assets | 1.46% | ||
Maturity date | Nov. 06, 2023 | ||
Principal amount | $ 5,000,000 | ||
Investments, at cost | 4,957,222 | ||
Fair value | 4,972,000 | ||
Principal amount | 5,000,000 | ||
CME Bitcoin Futures OCT23 [Member] | Bitcoin Futures Contracts [Member] | |||
Fair value | $ 2,464 | ||
Percentage of net assets | 0% | ||
Fair value | $ 2,464 | ||
Number of contracts | 6 | ||
Notional amount, asset | $ 813,000 | ||
CBOT Soybean Futures MAR24 [Member] | Soybean Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 465,562 | ||
Percentage of net assets | 0.14% | ||
Fair value | $ 465,562 | ||
Number of contracts | 142 | ||
Notional amount, liability | $ 9,302,775 | ||
ICE Sugar Futures JUL23 [Member] | Sugar Futures Contracts [Member] | |||
Fair value | $ 554,366 | ||
Percentage of net assets | 0.12% | ||
Fair value | $ 554,366 | ||
Number of contracts | 362 | ||
Notional amount, asset | $ 7,289,811 | ||
CME Bitcoin futures NOV23 [Member] | Sugar Futures Contracts [Member] | |||
Fair value | 17,019 | ||
Fair value | $ 17,019 | ||
Number of contracts | 6 | ||
CME Bitcoin futures NOV23 [Member] | Bitcoin Futures Contracts [Member] | |||
Percentage of net assets | 0% | ||
Notional amount, asset | $ 818,250 | ||
CBOT soybean futures NOV24 [Member] | Soybean Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 44,606 | ||
Percentage of net assets | 0.01% | ||
Fair value | $ 44,606 | ||
Number of contracts | 176 | ||
Notional amount, liability | $ 11,088,000 | ||
CBOT Wheat Futures JUL23 [Member] | Wheat Futures Contracts [Member] | |||
Fair value | $ 3,160,732 | ||
Percentage of net assets | 0.68% | ||
Fair value | $ 3,160,732 | ||
Number of contracts | 1,711 | ||
Notional amount, asset | $ 68,696,650 | ||
Commodity and Cryptocurrency Futures Contracts [Member] | |||
Fair value | $ 2,020,707 | ||
Percentage of net assets | 0.59% | ||
Fair value | $ 2,020,707 | ||
Notional amount, asset | 29,508,957 | ||
ICE Sugar Futures JUL24 [Member] | Sugar Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 107,186 | ||
Percentage of net assets | 0.03% | ||
Fair value | $ 107,186 | ||
Number of contracts | 268 | ||
Notional amount, liability | $ 7,293,888 | ||
CME Bitcoin Futures JAN23 [Member] | Cryptocurrency Futures Contracts [Member] | |||
Fair value | $ 24,979 | ||
Percentage of net assets | 0.01% | ||
Fair value | $ 24,979 | ||
Number of contracts | 6 | ||
Notional amount, asset | $ 496,050 | ||
CME Bitcoin Futures FEB23 [Member] | Cryptocurrency Futures Contracts [Member] | |||
Fair value | $ 4,173 | ||
Percentage of net assets | 0% | ||
Fair value | $ 4,173 | ||
Number of contracts | 7 | ||
Notional amount, asset | $ 575,575 | ||
CBOT Wheat Futures MAR24 [Member] | Wheat Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 11,184,967 | ||
Percentage of net assets | 3.27% | ||
Fair value | $ 11,184,967 | ||
Number of contracts | 2,329 | ||
Notional amount, liability | $ 66,784,075 | ||
CBOT Wheat Futures MAY24 [Member] | Wheat Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 4,422,002 | ||
Percentage of net assets | 1.29% | ||
Fair value | $ 4,422,002 | ||
Number of contracts | 1,943 | ||
Notional amount, liability | $ 57,779,963 | ||
CBOT Wheat Futures DEC24 [Member] | Wheat Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 7,578,533 | ||
Percentage of net assets | 2.22% | ||
Fair value | $ 7,578,533 | ||
Number of contracts | 2,140 | ||
Notional amount, liability | $ 69,309,250 | ||
Cash and Cash Equivalents [Member] | |||
Fair value | $ 293,773,799 | $ 388,000,477 | |
Percentage of net assets | 85.99% | 83.37% | |
Fair value | $ 293,773,799 | $ 388,000,477 | |
[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) | 1 Months Ended | 9 Months Ended | |||||||
Sep. 15, 2022 USD ($) shares | Mar. 27, 2012 USD ($) shares | Sep. 19, 2011 USD ($) shares | Sep. 16, 2011 USD ($) shares | Jun. 08, 2010 USD ($) shares | Sep. 30, 2022 USD ($) shares | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) shares | ||
Number of Series | 6 | ||||||||
Stock Issued During Period, Value, New Issues | $ 140,135,089 | $ 1,216,204,797 | [1] | ||||||
Teucrium Corn Fund [Member] | |||||||||
Number of Creation Baskets Issued | 4 | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 200,000 | 800,000 | 7,500,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 5,000,000 | $ 19,420,213 | $ 204,322,783 | ||||||
Teucrium Sugar Fund [Member] | |||||||||
Number of Creation Baskets Issued | 2 | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 100,000 | 1,525,000 | 2,675,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 2,500,000 | $ 18,605,025 | $ 26,012,883 | ||||||
Teucrium Soybean Fund [Member] | |||||||||
Number of Creation Baskets Issued | 2 | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 100,000 | 350,000 | 1,950,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 2,500,000 | $ 9,394,540 | $ 53,625,065 | ||||||
Teucrium Wheat Fund [Member] | |||||||||
Number of Creation Baskets Issued | 2 | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 100,000 | 100,000 | 14,200,000 | 84,050,000 | |||||
Stock Issued During Period, Value, New Issues | $ 2,500,000 | $ 2,500,000 | $ 92,347,622 | $ 885,427,575 | |||||
Teucrium Agricultural Fund [Member] | |||||||||
Number of Creation Baskets Issued | 6 | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 300,000 | 0 | 1,362,500 | ||||||
Stock Issued During Period, Value, New Issues | $ 15,000,000 | $ 0 | $ 45,566,391 | ||||||
Hashdex Bitcoin Futures ETF [Member] | |||||||||
Number of Creation Baskets Issued | 5 | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 50,000 | 50,004 | 10,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 1,250,000 | $ 1,250,100 | $ 367,689 | ||||||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 2 - Principal Contracts_15
Note 2 - Principal Contracts and Agreements (Details Textual) | 9 Months Ended |
Sep. 30, 2023 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 | 3 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.5 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 16.50% |
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 ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Amount Recognized for Custody Services | $ 115,736 | $ 151,161 | $ 333,733 | $ 280,651 | ||
Amount Recognized for Distribution Services | 1,024,521 | 1,170,838 | 2,928,637 | 3,058,779 | ||
Amount Recognized for Wilmington Trust | 42,299 | 17,473 | 113,427 | 114,848 | ||
Related Party [Member] | ||||||
Amount Waived | 1,347 | 19,090 | 70,069 | 498,171 | ||
Custody Services [Member] | Related Party [Member] | ||||||
Amount Recognized for Custody Services | 115,736 | 151,161 | 333,733 | 280,651 | ||
Amount Waived | 3,360 | 7,455 | 19,876 | 35,556 | ||
Distribution Services [Member] | Related Party [Member] | ||||||
Amount Waived | 1,835 | 2,739 | 6,771 | 45,733 | ||
Amount Recognized for Distribution Services | 35,012 | 53,835 | 111,505 | 147,890 | ||
Wilmington Trust Company [Member] | Related Party [Member] | ||||||
Amount Waived | 171 | 550 | 171 | 550 | ||
Amount Recognized for Wilmington Trust | 3,300 | 3,300 | 3,300 | 3,300 | ||
Thales Capital Partners LLC [Member] | Related Party [Member] | ||||||
Amount Waived | 3,108 | 2,605 | 5,367 | 103,396 | ||
Amount Recognized for Distribution Services | $ 54,612 | $ 54,755 | $ 92,190 | $ 212,879 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_15
Note 3 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Number of Underlying Funds | 4 | 4 | |||||
Open Tax Year | 2020 2021 2022 | ||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0 | $ 0 | $ 0 | $ 0 | |||
Teucrium Corn Fund [Member] | |||||||
Open Tax Year | 2020 2021 2022 | ||||||
Unrecognized Tax Benefits, Ending Balance | 0 | $ 0 | 0 | 0 | 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 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 Corn Fund [Member] | Teucrium Trading, LLC [Member] | |||||||
Management Fee, Percentage of Average Daily Net Assets | 1% | ||||||
Teucrium Soybean Fund [Member] | |||||||
Open Tax Year | 2020 2021 2022 | ||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | 0 | 0 | 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 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 Soybean Fund [Member] | Teucrium Trading, LLC [Member] | |||||||
Management Fee, Percentage of Average Daily Net Assets | 1% | ||||||
Teucrium Sugar Fund [Member] | |||||||
Open Tax Year | 2020 2021 2022 | ||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | 0 | 0 | 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 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 | 2020 2021 2022 | ||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | 0 | 0 | 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 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 Wheat Fund [Member] | Teucrium Trading, LLC [Member] | |||||||
Management Fee, Percentage of Average Daily Net Assets | 1% | ||||||
Teucrium Agricultural Fund [Member] | |||||||
Open Tax Year | 2020 2021 2022 | ||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | 0 | $ 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 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, Ending Balance | $ 0 | $ 0 | $ 0 | ||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 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% | ||||||
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 ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Brokerage Commissions | $ 71,113 | $ 142,699 | $ 172,849 | $ 597,559 | ||
Teucrium Corn Fund [Member] | ||||||
Brokerage Commissions | 23,697 | 54,746 | 54,865 | 188,321 | ||
Teucrium Soybean Fund [Member] | ||||||
Brokerage Commissions | 2,220 | 6,432 | 10,999 | 21,638 | ||
Teucrium Sugar Fund [Member] | ||||||
Brokerage Commissions | 3,707 | 5,436 | 19,661 | 31,972 | ||
Teucrium Wheat Fund [Member] | ||||||
Brokerage Commissions | 40,896 | 75,136 | 85,354 | 354,679 | ||
Teucrium Agricultural Fund [Member] | ||||||
Brokerage Commissions | 0 | 0 | 0 | 0 | ||
Hashdex Bitcoin Futures ETF [Member] | ||||||
Brokerage Commissions | $ 593 | $ 949 | [2] | $ 1,970 | $ 949 | [2] |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022.[2]The Fund commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_17
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Money Market Funds | $ 147,921,285 | $ 188,640,417 |
Demand Deposit Savings Accounts | 28,763,367 | 46,061,819 |
Commercial Paper | 145,852,514 | 199,360,060 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 322,537,166 | $ 434,062,296 |
Note 3 - Summary of Signific_18
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions (Details) - Related Party [Member] - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Recognized Related Party Transactions | $ 566,723 | $ 638,361 | $ 1,889,702 | $ 2,055,991 | ||
Waived Related Party Transactions | $ 1,347 | $ 19,090 | $ 70,069 | $ 498,171 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_19
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Expenses waived by the Sponsor | $ 168,505 | $ 62,609 | $ 578,373 | $ 1,115,590 | ||
Teucrium Corn Fund [Member] | ||||||
Expenses waived by the Sponsor | 0 | 0 | 0 | 345,855 | ||
Teucrium Soybean Fund [Member] | ||||||
Expenses waived by the Sponsor | 0 | 0 | 0 | 89,562 | ||
Teucrium Sugar Fund [Member] | ||||||
Expenses waived by the Sponsor | 0 | 0 | 0 | 78,237 | ||
Teucrium Wheat Fund [Member] | ||||||
Expenses waived by the Sponsor | 0 | 0 | 0 | 425,164 | ||
Teucrium Agricultural Fund [Member] | ||||||
Expenses waived by the Sponsor | 77,482 | 62,059 | 355,731 | 176,222 | ||
Hashdex Bitcoin Futures ETF [Member] | ||||||
Expenses waived by the Sponsor | $ 91,023 | $ 550 | [2] | $ 222,642 | $ 550 | [2] |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022.[2]The Fund commenced operations on September 15, 2022. |
Note 4 - Fair Value Measurem_15
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Cash Equivalents | $ 293,773,799 | $ 388,000,477 |
Total | 295,794,506 | 396,207,858 |
Commodity and Cryptocurrency Futures Contracts | 25,923,738 | 29,433,069 |
Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,585,798 | |
Commodity and Cryptocurrency Futures Contracts | 2,120,882 | 2,967,103 |
Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 134,775 | 2,520,370 |
Commodity and Cryptocurrency Futures Contracts | 510,168 | |
Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,866,449 | 911,329 |
Commodity and Cryptocurrency Futures Contracts | 107,186 | 85,128 |
Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 3,160,732 | |
Commodity and Cryptocurrency Futures Contracts | 23,185,502 | 26,380,838 |
Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 19,483 | 29,152 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 293,773,799 | 388,000,477 |
Total | 295,794,506 | 396,207,858 |
Commodity and Cryptocurrency Futures Contracts | 25,923,738 | 29,433,069 |
Fair Value, Inputs, Level 1 [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,585,798 | |
Commodity and Cryptocurrency Futures Contracts | 2,120,882 | 2,967,103 |
Fair Value, Inputs, Level 1 [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 134,775 | 2,520,370 |
Commodity and Cryptocurrency Futures Contracts | 510,168 | |
Fair Value, Inputs, Level 1 [Member] | Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,866,449 | 911,329 |
Commodity and Cryptocurrency Futures Contracts | 107,186 | 85,128 |
Fair Value, Inputs, Level 1 [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 3,160,732 | |
Commodity and Cryptocurrency Futures Contracts | 23,185,502 | 26,380,838 |
Fair Value, Inputs, Level 1 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 19,483 | 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] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 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 | |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Bitcoin Futures Contracts [Member] | ||
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] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 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 | |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | $ 0 | $ 0 |
Note 5 - Derivative Instrume_13
Note 5 - Derivative Instruments and Hedging Activities (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Derivative, Average Notional Amount | $ 352.7 | $ 662.8 | $ 353.3 | $ 611.7 |
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 ($) | Sep. 30, 2023 | Dec. 31, 2022 | |
Derivative liabilities | $ 25,923,738 | $ 29,433,069 | |
Soybean Futures Contracts [Member] | |||
Gross amount of recognized assets | 134,775 | 2,520,370 | |
Gross amount offset, assets | 0 | 0 | |
Derivative asset | 134,775 | 2,520,370 | |
Available for offset, assets | 134,775 | 0 | |
Collateral, due to broker, assets | 0 | 0 | |
Net amount, assets | 0 | 2,520,370 | |
Gross amount of recognized liabilities | 510,168 | ||
Gross amount offset, liabilities | 0 | ||
Derivative liabilities | 510,168 | ||
Futures contracts available for offset, liabilities | 134,775 | ||
Collateral, due from broker, liabilities | [1] | 375,393 | |
Net amount, liabilities | 0 | ||
Corn Futures Contracts [Member] | |||
Gross amount of recognized assets | 1,585,798 | ||
Gross amount offset, assets | 0 | ||
Derivative asset | 1,585,798 | ||
Available for offset, assets | 1,585,798 | ||
Collateral, due to broker, assets | 0 | ||
Net amount, assets | 0 | ||
Gross amount of recognized liabilities | 2,120,882 | 2,967,103 | |
Gross amount offset, liabilities | 0 | 0 | |
Derivative liabilities | 2,120,882 | 2,967,103 | |
Futures contracts available for offset, liabilities | 0 | 1,585,798 | |
Collateral, due from broker, liabilities | [1] | 2,120,882 | 1,381,305 |
Net amount, liabilities | 0 | 0 | |
Sugar Futures Contracts [Member] | |||
Gross amount of recognized assets | 1,866,449 | 911,329 | |
Gross amount offset, assets | 0 | 0 | |
Derivative asset | 1,866,449 | 911,329 | |
Available for offset, assets | 107,186 | 85,128 | |
Collateral, due to broker, assets | 997,931 | 0 | |
Net amount, assets | 761,332 | 826,201 | |
Gross amount of recognized liabilities | 107,186 | 85,128 | |
Gross amount offset, liabilities | 0 | 0 | |
Derivative liabilities | 107,186 | 85,128 | |
Futures contracts available for offset, liabilities | 107,186 | 85,128 | |
Collateral, due from broker, liabilities | [1] | 0 | 0 |
Net amount, liabilities | 0 | 0 | |
Bitcoin Futures Contracts [Member] | |||
Gross amount of recognized assets | 19,483 | 29,152 | |
Gross amount offset, assets | 0 | 0 | |
Derivative asset | 19,483 | 29,152 | |
Available for offset, assets | 0 | 0 | |
Collateral, due to broker, assets | 0 | 0 | |
Net amount, assets | 19,483 | 29,152 | |
Wheat Futures Contracts [Member] | |||
Gross amount of recognized assets | 3,160,732 | ||
Gross amount offset, assets | 0 | ||
Derivative asset | 3,160,732 | ||
Available for offset, assets | 3,160,732 | ||
Collateral, due to broker, assets | 0 | ||
Net amount, assets | 0 | ||
Gross amount of recognized liabilities | 23,185,502 | 26,380,838 | |
Gross amount offset, liabilities | 0 | 0 | |
Derivative liabilities | 23,185,502 | 26,380,838 | |
Futures contracts available for offset, liabilities | 0 | 3,160,732 | |
Collateral, due from broker, liabilities | [1] | 23,185,502 | 23,220,106 |
Net amount, liabilities | $ 0 | $ 0 | |
[1]The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not include the excess collateral pledged. |
Note 5 - Derivative Instrume_15
Note 5 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) on Derivative Instruments (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Realized Gain on Commodity Futures Contracts | $ (42,896,164) | $ (103,278,313) | [2] | $ (85,437,409) | $ (14,666,473) | |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 11,792,810 | 112,241,847 | [2] | (2,677,343) | (15,553,587) | [2] |
Corn Futures Contracts [Member] | ||||||
Realized Gain on Commodity Futures Contracts | (13,018,346) | (10,344,285) | (24,479,726) | 28,678,780 | ||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 11,306,711 | 23,856,276 | (739,577) | (3,698,432) | ||
Soybean Futures Contracts [Member] | ||||||
Realized Gain on Commodity Futures Contracts | 311,294 | 977,658 | 270,814 | 10,675,505 | ||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (507,789) | (3,855,440) | (2,895,763) | (5,768,700) | ||
Sugar Futures Contracts [Member] | ||||||
Realized Gain on Commodity Futures Contracts | 2,271,032 | (948,329) | 11,018,654 | (476,906) | ||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 934,750 | (1,014,429) | 933,062 | (2,281,371) | ||
Wheat Futures Contracts [Member] | ||||||
Realized Gain on Commodity Futures Contracts | (32,283,536) | (92,957,415) | (72,771,330) | (53,537,910) | ||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 166,327 | 93,269,812 | 34,604 | (3,790,712) | ||
Bitcoin Futures Contracts [Member] | ||||||
Realized Gain on Commodity Futures Contracts | (176,608) | (5,942) | 524,179 | (5,942) | ||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ (107,189) | $ (14,372) | $ (9,669) | $ (14,372) | ||
[1]The Fund commenced operations on September 15, 2022.[2]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
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 ($) | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Sep. 15, 2022 | Dec. 31, 2021 | ||
Net Assets | $ 341,608,967 | $ 465,375,598 | $ 686,974,282 | [1] | $ 264,276,768 | [1] | |
Less: Investment in the Underlying Funds | $ (21,975,907) | $ (39,572,698) | |||||
Teucrium Corn Fund [Member] | |||||||
Outstanding Shares (in shares) | 4,100,004 | 5,675,004 | |||||
Net Assets | $ 90,448,376 | $ 152,638,405 | 214,972,436 | 120,846,256 | |||
Teucrium Soybean Fund [Member] | |||||||
Outstanding Shares (in shares) | 1,150,004 | 2,050,004 | |||||
Net Assets | $ 31,176,395 | $ 58,429,985 | 67,243,978 | 44,972,625 | |||
Teucrium Sugar Fund [Member] | |||||||
Outstanding Shares (in shares) | 1,650,004 | 2,550,004 | |||||
Net Assets | $ 24,351,498 | $ 24,262,359 | 25,534,967 | 22,834,664 | |||
Teucrium Wheat Fund [Member] | |||||||
Outstanding Shares (in shares) | 34,825,004 | 28,675,004 | |||||
Net Assets | $ 193,949,700 | $ 228,972,039 | 377,988,971 | 75,621,587 | |||
Hashdex Bitcoin Futures ETF [Member] | |||||||
Outstanding Shares (in shares) | 50,004 | 50,004 | |||||
Net Assets | $ 1,672,130 | $ 1,070,263 | 1,230,482 | $ 0 | |||
Teucrium Agricultural Fund [Member] | |||||||
Outstanding Shares (in shares) | 725,002 | 1,262,502 | |||||
Net Assets | $ 21,986,775 | $ 39,575,245 | $ 46,219,717 | $ 14,179,655 | |||
Funds Including Underlying Funds [Member] | |||||||
Net Assets | 21,986,775 | 39,575,245 | |||||
Funds [Member] | |||||||
Net Assets | $ 10,868 | $ 2,547 | |||||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 8 - Subsequent Events (Det
Note 8 - Subsequent Events (Details Textual) - USD ($) | 1 Months Ended | 9 Months Ended | ||||
Jan. 03, 2024 | Nov. 07, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Stockholders' Equity, Period Increase (Decrease) | $ (123,766,631) | $ 422,697,514 | ||||
Forecast [Member] | Tidal Commodities Trust I [Member] | ||||||
Management Fee, Percentage of Average Daily Net Assets | 0.94% | |||||
Hashdex Bitcoin Futures ETF [Member] | ||||||
Stockholders' Equity, Period Increase (Decrease) | $ 1,230,482 | $ 601,867 | ||||
Hashdex Bitcoin Futures ETF [Member] | Subsequent Event [Member] | ||||||
Stockholders' Equity, Period Increase (Decrease) | $ 539,481 | |||||
Investment Company, Net Assets, Period Increase (Decrease), Percentage | 32% | |||||
Investment Company, Net Asset Value Per Share, Period Increase (Decrease), Percentage | 32% | |||||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Schedule of Investments (Una_13
Schedule of Investments (Unaudited) - Investments - Teucrium Corn Fund (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Teucrium Corn Fund [Member] | Commodity Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 2,120,882 | $ 2,967,103 |
Percentage of net assets | 2.34% | 1.94% |
Number of contracts | ||
Notional amount, liability | $ 90,399,025 | $ 106,833,125 |
Money Market Funds [Member] | ||
Cost | 147,921,285 | 188,640,417 |
Fair value | $ 147,921,285 | $ 188,640,417 |
Percentage of net assets | 43.30% | 40.54% |
Money Market Funds [Member] | Teucrium Corn Fund [Member] | ||
Cost | $ 30,418,637 | $ 52,555,915 |
Fair value | $ 30,418,637 | $ 52,555,915 |
Percentage of net assets | 33.63% | 34.43% |
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 4.105% | |
Cost | $ 28,382,122 | |
Fair value | $ 28,382,122 | |
Percentage of net assets | 6.10% | |
Shares (in shares) | 28,382,122 | |
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | Teucrium Corn Fund [Member] | ||
Index | 4.105% | |
Cost | $ 3,498,444 | |
Fair value | $ 3,498,444 | |
Percentage of net assets | 2.29% | |
Shares (in shares) | 3,498,444 | |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 5.24% | 4.14% |
Cost | $ 77,776,959 | $ 160,258,295 |
Fair value | $ 77,776,959 | $ 160,258,295 |
Percentage of net assets | 22.77% | 34.44% |
Shares (in shares) | 77,776,959 | 160,258,295 |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.24% | 4.14% |
Cost | $ 13,370,617 | $ 49,057,471 |
Fair value | $ 13,370,617 | $ 49,057,471 |
Percentage of net assets | 14.78% | 32.14% |
Shares (in shares) | 13,370,617 | 49,057,471 |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.27% | |
Cost | $ 70,144,326 | |
Fair value | $ 70,144,326 | |
Percentage of net assets | 20.53% | |
Shares (in shares) | 70,144,326 | |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.27% | |
Cost | $ 17,048,020 | |
Fair value | $ 17,048,020 | |
Percentage of net assets | 18.85% | |
Shares (in shares) | 17,048,020 | |
CBOT Corn Futures JUL23 [Member] | Corn Futures Contracts [Member] | ||
Fair value | $ 1,585,798 | |
Percentage of net assets | 0.34% | |
Number of contracts | 1,363 | |
Notional amount, asset | $ 45,779,763 | |
CBOT Corn Futures JUL23 [Member] | Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | ||
Fair value | $ 1,585,798 | |
Percentage of net assets | 1.04% | |
Number of contracts | 1,363 | |
Notional amount, asset | $ 45,779,763 | |
CBOT Corn Futures MAY23 [Member] | Commodity Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 751,309 | |
Percentage of net assets | 0.16% | |
Number of contracts | 1,575 | |
Notional amount, liability | $ 53,392,500 | |
CBOT Corn Futures MAY23 [Member] | Teucrium Corn Fund [Member] | Commodity Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 751,309 | |
Percentage of net assets | 0.49% | |
Number of contracts | 1,575 | |
Notional amount, liability | $ 53,392,500 | |
CBOT Corn Futures DEC23 [Member] | Commodity Futures Contracts [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 | |
CBOT Corn Futures DEC23 [Member] | Teucrium Corn Fund [Member] | Commodity Futures Contracts [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 | |
Commercial Paper, One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.735% | 4.742% |
Cost | $ 4,956,994 | $ 14,877,488 |
Fair value | $ 4,992,180 | $ 14,968,886 |
Percentage of net assets | 1.46% | 3.22% |
Maturity date | Oct. 11, 2023 | Jan. 17, 2023 |
Principal amount | $ 5,000,000 | $ 15,000,000 |
Commercial Paper, One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.735% | |
Cost | $ 2,478,497 | |
Fair value | $ 2,496,090 | |
Percentage of net assets | 2.76% | |
Maturity date | Oct. 11, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, 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, One [Member] | CNH Industrial Capital LLC [Member] | Teucrium Corn Fund [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, One [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.468% | 4.276% |
Cost | $ 9,873,444 | $ 12,400,060 |
Fair value | $ 9,997,022 | $ 12,486,207 |
Percentage of net assets | 2.93% | 2.68% |
Maturity date | Oct. 03, 2023 | Jan. 10, 2023 |
Principal amount | $ 10,000,000 | $ 12,500,000 |
Commercial Paper, One [Member] | General Motors Financial Company, Inc. [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.468% | 4.618% |
Cost | $ 2,468,361 | $ 7,449,762 |
Fair value | $ 2,499,256 | $ 7,491,469 |
Percentage of net assets | 2.76% | 4.91% |
Maturity date | Oct. 03, 2023 | Jan. 10, 2023 |
Principal amount | $ 2,500,000 | $ 7,500,000 |
Commercial Paper, 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, One [Member] | Crown Castle Inc. [Member] | Teucrium Corn Fund [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, One [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.817% | 4.721% |
Cost | $ 4,940,626 | $ 5,263,032 |
Fair value | $ 4,998,416 | $ 5,298,631 |
Percentage of net assets | 1.46% | 1.14% |
Maturity date | Oct. 03, 2023 | Jan. 03, 2023 |
Principal amount | $ 5,000,000 | $ 5,300,000 |
Commercial Paper, One [Member] | Harley-Davidson Financial Services, Inc. [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.817% | 4.721% |
Cost | $ 2,470,313 | $ 2,482,562 |
Fair value | $ 2,499,208 | $ 2,499,354 |
Percentage of net assets | 2.76% | 1.64% |
Maturity date | Oct. 03, 2023 | Jan. 03, 2023 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Commercial Paper, One [Member] | Jabil Inc. [Member] | ||
Index | 5.793% | |
Cost | $ 14,945,375 | |
Fair value | $ 14,971,500 | |
Percentage of net assets | 4.38% | |
Maturity date | Oct. 13, 2023 | |
Principal amount | $ 15,000,000 | |
Commercial Paper, One [Member] | National Fuel Gas Company [Member] | ||
Index | 5.754% | |
Cost | $ 9,954,406 | |
Fair value | $ 9,974,845 | |
Percentage of net assets | 2.92% | |
Maturity date | Oct. 17, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper, One [Member] | National Fuel Gas Company [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.754% | |
Cost | $ 4,977,203 | |
Fair value | $ 4,987,422 | |
Percentage of net assets | 5.51% | |
Maturity date | Oct. 17, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 5.901% | 4.842% |
Cost | $ 9,908,335 | $ 4,970,188 |
Fair value | $ 9,950,147 | $ 4,971,512 |
Percentage of net assets | 2.91% | 1.07% |
Maturity date | Nov. 01, 2023 | Feb. 13, 2023 |
Principal amount | $ 10,000,000 | $ 5,000,000 |
Commercial Paper, One [Member] | Walgreens Boots Alliance, Inc. [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.901% | 4.827% |
Cost | $ 7,431,251 | $ 2,479,549 |
Fair value | $ 7,462,610 | $ 2,480,868 |
Percentage of net assets | 8.25% | 1.63% |
Maturity date | Nov. 01, 2023 | Feb. 28, 2023 |
Principal amount | $ 7,500,000 | $ 2,500,000 |
Commercial Paper, 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, One [Member] | Oracle Corporation [Member] | Teucrium Corn Fund [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, One [Member] | V.F. Corporation [Member] | ||
Index | 5.497% | 4.364% |
Cost | $ 4,958,750 | $ 4,959,390 |
Fair value | $ 4,967,750 | $ 4,990,444 |
Percentage of net assets | 1.45% | 1.07% |
Maturity date | Nov. 13, 2023 | Jan. 17, 2023 |
Principal amount | $ 5,000,000 | $ 5,000,000 |
Commercial Paper, One [Member] | V.F. Corporation [Member] | Teucrium Corn Fund [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 | |
CBOT Corn Futures MAR 24 [Member] | Commodity Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 1,365,651 | |
Percentage of net assets | 0.40% | |
Number of contracts | 1,286 | |
Notional amount, liability | $ 31,619,525 | |
CBOT Corn Futures MAR 24 [Member] | Teucrium Corn Fund [Member] | Commodity Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 1,365,651 | |
Percentage of net assets | 1.51% | |
Number of contracts | 1,286 | |
Notional amount, liability | $ 31,619,525 | |
Commercial Paper [Member] | ||
Cost | 145,108,778 | 198,351,250 |
Fair value | $ 145,852,514 | $ 199,360,060 |
Percentage of net assets | 42.69% | 42.84% |
Commercial Paper [Member] | Teucrium Corn Fund [Member] | ||
Cost | $ 44,498,261 | $ 64,046,259 |
Fair value | $ 44,730,124 | $ 64,340,159 |
Percentage of net assets | 49.45% | 42.15% |
Commercial Paper [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | Teucrium Corn Fund [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] | 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 Corn Fund [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] | Hyundai Capital America [Member] | ||
Index | 5.509% | 4% |
Cost | $ 7,405,500 | $ 9,903,645 |
Fair value | $ 7,451,625 | $ 9,990,145 |
Percentage of net assets | 2.18% | 2.15% |
Maturity date | Nov. 13, 2023 | Jan. 10, 2023 |
Principal amount | $ 7,500,000 | $ 10,000,000 |
Commercial Paper [Member] | Hyundai Capital America [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.509% | 4% |
Cost | $ 2,468,500 | $ 2,475,911 |
Fair value | $ 2,483,875 | $ 2,497,536 |
Percentage of net assets | 2.75% | 1.64% |
Maturity date | Nov. 13, 2023 | Jan. 10, 2023 |
Principal amount | $ 2,500,000 | $ 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 Corn Fund [Member] | ||
Index | 5.793% | 5.073% |
Cost | $ 2,490,896 | $ 4,980,555 |
Fair value | $ 2,495,250 | $ 4,991,667 |
Percentage of net assets | 2.76% | 3.27% |
Maturity date | Oct. 13, 2023 | Jan. 13, 2023 |
Principal amount | $ 2,500,000 | $ 5,000,000 |
Commercial Paper [Member] | Marriott International, Inc. [Member] | ||
Index | 5.408% | |
Cost | $ 9,937,932 | |
Fair value | $ 9,986,700 | |
Percentage of net assets | 2.92% | |
Maturity date | Oct. 10, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Marriott International, Inc. [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.408% | |
Cost | $ 2,484,483 | |
Fair value | $ 2,496,675 | |
Percentage of net assets | 2.76% | |
Maturity date | Oct. 10, 2023 | |
Principal amount | $ 2,500,000 | |
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] | ITT Inc. [Member] | Teucrium Corn Fund [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, Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.806% | 4.734% |
Cost | $ 3,967,700 | $ 4,959,225 |
Fair value | $ 3,993,666 | $ 4,989,644 |
Percentage of net assets | 1.17% | 1.07% |
Maturity date | Oct. 11, 2023 | Jan. 17, 2023 |
Principal amount | $ 4,000,000 | $ 5,000,000 |
Commercial Paper, Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.81% | |
Cost | $ 2,476,250 | |
Fair value | $ 2,490,896 | |
Percentage of net assets | 2.75% | |
Maturity date | Oct. 24, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, 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, Two [Member] | CNH Industrial Capital LLC [Member] | Teucrium Corn Fund [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, Two [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.511% | 4.473% |
Cost | $ 4,933,250 | $ 7,418,417 |
Fair value | $ 4,982,000 | $ 7,484,417 |
Percentage of net assets | 1.46% | 1.61% |
Maturity date | Oct. 25, 2023 | Jan. 18, 2023 |
Principal amount | $ 5,000,000 | $ 7,500,000 |
Commercial Paper, Two [Member] | General Motors Financial Company, Inc. [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.511% | 4.473% |
Cost | $ 2,466,625 | $ 2,472,806 |
Fair value | $ 2,491,000 | $ 2,494,806 |
Percentage of net assets | 2.75% | 1.63% |
Maturity date | Oct. 25, 2023 | Jan. 18, 2023 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Commercial Paper, 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, Two [Member] | Crown Castle Inc. [Member] | Teucrium Corn Fund [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, Two [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.697% | 4.944% |
Cost | $ 2,385,067 | $ 7,458,402 |
Fair value | $ 2,398,880 | $ 7,475,650 |
Percentage of net assets | 0.70% | 1.61% |
Maturity date | Oct. 04, 2023 | Jan. 25, 2023 |
Principal amount | $ 2,400,000 | $ 7,500,000 |
Commercial Paper, Two [Member] | Harley-Davidson Financial Services, Inc. [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.697% | 4.944% |
Cost | $ 2,385,067 | $ 7,458,402 |
Fair value | $ 2,398,880 | $ 7,475,650 |
Percentage of net assets | 2.65% | 4.90% |
Maturity date | Oct. 04, 2023 | Jan. 25, 2023 |
Principal amount | $ 2,400,000 | $ 7,500,000 |
Commercial Paper, Two [Member] | Jabil Inc. [Member] | ||
Index | 5.793% | |
Cost | $ 4,981,000 | |
Fair value | $ 4,990,500 | |
Percentage of net assets | 1.46% | |
Maturity date | Oct. 13, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | National Fuel Gas Company [Member] | ||
Index | 5.755% | |
Cost | $ 7,463,445 | |
Fair value | $ 7,478,775 | |
Percentage of net assets | 2.19% | |
Maturity date | Oct. 19, 2023 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, Two [Member] | National Fuel Gas Company [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.755% | |
Cost | $ 2,487,815 | |
Fair value | $ 2,492,925 | |
Percentage of net assets | 2.76% | |
Maturity date | Oct. 19, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Two [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 5.944% | 4.827% |
Cost | $ 9,861,057 | $ 4,959,098 |
Fair value | $ 9,903,064 | $ 4,961,736 |
Percentage of net assets | 2.90% | 1.07% |
Maturity date | Nov. 30, 2023 | Feb. 28, 2023 |
Principal amount | $ 10,000,000 | $ 5,000,000 |
Commercial Paper, Two [Member] | Walgreens Boots Alliance, Inc. [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.944% | |
Cost | $ 2,465,264 | |
Fair value | $ 2,475,766 | |
Percentage of net assets | 2.74% | |
Maturity date | Nov. 30, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, 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, Two [Member] | V.F. Corporation [Member] | ||
Index | 5.558% | 4.669% |
Cost | $ 4,941,717 | $ 6,456,811 |
Fair value | $ 4,951,556 | $ 6,473,422 |
Percentage of net assets | 1.45% | 1.39% |
Maturity date | Dec. 04, 2023 | Feb. 02, 2023 |
Principal amount | $ 5,000,000 | $ 6,500,000 |
CBOT Corn Futures MAY24 [Member] | Commodity Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 220,723 | |
Percentage of net assets | 0.06% | |
Number of contracts | 1,084 | |
Notional amount, liability | $ 27,127,100 | |
CBOT Corn Futures MAY24 [Member] | Teucrium Corn Fund [Member] | Commodity Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 220,723 | |
Percentage of net assets | 0.24% | |
Number of contracts | 1,084 | |
Notional amount, liability | $ 27,127,100 | |
Commercial Paper, Three [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.81% | |
Cost | $ 4,952,500 | |
Fair value | $ 4,981,792 | |
Percentage of net assets | 1.46% | |
Maturity date | Oct. 24, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Three [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.819% | |
Cost | $ 2,469,125 | |
Fair value | $ 2,474,271 | |
Percentage of net assets | 2.74% | |
Maturity date | Dec. 05, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Three [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.546% | |
Cost | $ 4,944,090 | |
Fair value | $ 4,980,356 | |
Percentage of net assets | 1.46% | |
Maturity date | Oct. 27, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Three [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.746% | 5.104% |
Cost | $ 7,434,201 | $ 4,959,561 |
Fair value | $ 7,496,475 | $ 4,977,688 |
Percentage of net assets | 2.19% | 1.07% |
Maturity date | Oct. 04, 2023 | Feb. 02, 2023 |
Principal amount | $ 7,500,000 | $ 5,000,000 |
Commercial Paper, Three [Member] | Harley-Davidson Financial Services, Inc. [Member] | Teucrium Corn Fund [Member] | ||
Index | 5.704% | 5.104% |
Cost | $ 2,478,611 | $ 2,479,781 |
Fair value | $ 2,486,000 | $ 2,488,844 |
Percentage of net assets | 2.75% | 1.63% |
Maturity date | Nov. 06, 2023 | Feb. 02, 2023 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
CBOT Wheat Futures DEC24 [Member] | Teucrium Corn Fund [Member] | Commodity Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 534,508 | |
Percentage of net assets | 0.59% | |
Number of contracts | 1,248 | |
Notional amount, liability | $ 31,652,400 | |
Cash and Cash Equivalents [Member] | ||
Fair value | $ 293,773,799 | $ 388,000,477 |
Percentage of net assets | 85.99% | 83.37% |
Cash and Cash Equivalents [Member] | Teucrium Corn Fund [Member] | ||
Fair value | $ 75,148,761 | $ 116,896,074 |
Percentage of net assets | 83.08% | 76.58% |
Note 1 - Organization and Op_15
Note 1 - Organization and Operation - Teucrium Corn Fund (Details Textual) | 9 Months Ended | |||
Jun. 08, 2010 USD ($) shares | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) shares | ||
Stock Issued During Period, Value, New Issues | $ | $ 140,135,089 | $ 1,216,204,797 | [1] | |
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 | 800,000 | 7,500,000 | |
Stock Issued During Period, Value, New Issues | $ | $ 5,000,000 | $ 19,420,213 | $ 204,322,783 | |
Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | ||||
Derivative, Number of Instruments Held, Total | 3 | |||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 1 - Organization and Op_16
Note 1 - Organization and Operation - Benchmark - Teucrium Corn Fund (Details) - Teucrium Corn Fund [Member] | Sep. 30, 2023 |
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) | 9 Months Ended |
Sep. 30, 2023 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 | 3 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | Teucrium Corn Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | 3 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.5 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 16.50% |
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 | $ 2.5 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 16.50% |
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 ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Amount Recognized for Custody Services | $ 115,736 | $ 151,161 | [1] | $ 333,733 | $ 280,651 | [1] |
Amount Recognized for Distribution Services | 1,024,521 | 1,170,838 | [1] | 2,928,637 | 3,058,779 | [1] |
Amount Recognized for Wilmington Trust | 42,299 | 17,473 | [1] | 113,427 | 114,848 | [1] |
Related Party [Member] | ||||||
Amount Waived | 1,347 | 19,090 | [1] | 70,069 | 498,171 | [1] |
Teucrium Corn Fund [Member] | ||||||
Amount Recognized for Custody Services | 34,535 | 42,405 | 89,338 | 77,409 | ||
Amount Recognized for Distribution Services | 279,911 | 307,484 | 786,923 | 934,170 | ||
Amount Recognized for Wilmington Trust | 12,333 | 7,049 | 21,631 | 27,907 | ||
Teucrium Corn Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 149,721 | ||
Custody Services [Member] | Related Party [Member] | ||||||
Amount Recognized for Custody Services | 115,736 | 151,161 | [1] | 333,733 | 280,651 | [1] |
Amount Waived | 3,360 | 7,455 | [1] | 19,876 | 35,556 | [1] |
Custody Services [Member] | Teucrium Corn Fund [Member] | Related Party [Member] | ||||||
Amount Recognized for Custody Services | 34,535 | 42,405 | 89,338 | 77,409 | ||
Amount Waived | 0 | 0 | 0 | 4,000 | ||
Distribution Services [Member] | Related Party [Member] | ||||||
Amount Waived | 1,835 | 2,739 | [1] | 6,771 | 45,733 | [1] |
Amount Recognized for Distribution Services | 35,012 | 53,835 | [1] | 111,505 | 147,890 | [1] |
Distribution Services [Member] | Teucrium Corn Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 17,010 | ||
Amount Recognized for Distribution Services | 9,202 | 14,345 | 29,157 | 46,974 | ||
Wilmington Trust Company [Member] | Related Party [Member] | ||||||
Amount Waived | 171 | 550 | [1] | 171 | 550 | [1] |
Amount Recognized for Wilmington Trust | 3,300 | 3,300 | [1] | 3,300 | 3,300 | [1] |
Wilmington Trust Company [Member] | Teucrium Corn Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 0 | ||
Amount Recognized for Wilmington Trust | 860 | 550 | 860 | 550 | ||
Thales Capital Partners LLC [Member] | Related Party [Member] | ||||||
Amount Waived | 3,108 | 2,605 | [1] | 5,367 | 103,396 | [1] |
Amount Recognized for Distribution Services | 54,612 | 54,755 | [1] | 92,190 | 212,879 | [1] |
Thales Capital Partners LLC [Member] | Teucrium Corn Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 27,193 | ||
Amount Recognized for Distribution Services | $ 14,528 | $ 14,487 | $ 24,360 | $ 73,405 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_20
Note 3 - Summary of Significant Accounting Policies - Teucrium Corn Fund (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Open Tax Year | 2020 2021 2022 | ||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0 | $ 0 | $ 0 | $ 0 | |||
Teucrium Corn Fund [Member] | |||||||
Open Tax Year | 2020 2021 2022 | ||||||
Unrecognized Tax Benefits, Ending Balance | 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | $ 0 | $ 0 | |||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | 25,000 | |||||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 25,000 | 25,000 | |||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | 50,000 | |||||
Minimum Number of RedemptionBaskets | 2 | 2 | |||||
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 ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Brokerage Commissions | $ 71,113 | $ 142,699 | $ 172,849 | $ 597,559 | ||
Teucrium Corn Fund [Member] | ||||||
Brokerage Commissions | $ 23,697 | $ 54,746 | $ 54,865 | $ 188,321 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_22
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents - Teucrium Corn Fund (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Money Market Funds | $ 147,921,285 | $ 188,640,417 |
Demand Deposit Savings Accounts | 28,763,367 | 46,061,819 |
Commercial Paper | 145,852,514 | 199,360,060 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | 322,537,166 | 434,062,296 |
Teucrium Corn Fund [Member] | ||
Money Market Funds | 30,418,637 | 52,555,915 |
Demand Deposit Savings Accounts | 10,157,951 | 25,538,663 |
Commercial Paper | 44,730,124 | 64,340,159 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 85,306,712 | $ 142,434,737 |
Note 3 - Summary of Signific_23
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions - Teucrium Corn Fund (Details) - Related Party [Member] - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Recognized Related Party Transactions | $ 566,723 | $ 638,361 | [1] | $ 1,889,702 | $ 2,055,991 | [1] |
Waived Related Party Transactions | 1,347 | 19,090 | [1] | 70,069 | 498,171 | [1] |
Teucrium Corn Fund [Member] | ||||||
Recognized Related Party Transactions | 153,884 | 170,070 | 505,154 | 652,887 | ||
Waived Related Party Transactions | $ 0 | $ 0 | $ 0 | $ 149,721 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_24
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor - Teucrium Corn Fund (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Expenses waived by the Sponsor | $ 168,505 | $ 62,609 | $ 578,373 | $ 1,115,590 | ||
Teucrium Corn Fund [Member] | ||||||
Expenses waived by the Sponsor | $ 0 | $ 0 | $ 0 | $ 345,855 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 4 - Fair Value Measurem_16
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Corn Fund (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Cash Equivalents | $ 293,773,799 | $ 388,000,477 |
Commodity and Cryptocurrency Futures Contracts | 25,923,738 | 29,433,069 |
Total | 295,794,506 | 396,207,858 |
Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 2,120,882 | 2,967,103 |
Commodity and Cryptocurrency Futures Contracts | 1,585,798 | |
Teucrium Corn Fund [Member] | ||
Cash Equivalents | 75,148,761 | 116,896,074 |
Total | 118,481,872 | |
Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 2,120,882 | 2,967,103 |
Commodity and Cryptocurrency Futures Contracts | 1,585,798 | |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 293,773,799 | 388,000,477 |
Commodity and Cryptocurrency Futures Contracts | 25,923,738 | 29,433,069 |
Total | 295,794,506 | 396,207,858 |
Fair Value, Inputs, Level 1 [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 2,120,882 | 2,967,103 |
Commodity and Cryptocurrency Futures Contracts | 1,585,798 | |
Fair Value, Inputs, Level 1 [Member] | Teucrium Corn Fund [Member] | ||
Cash Equivalents | 75,148,761 | 116,896,074 |
Total | 118,481,872 | |
Fair Value, Inputs, Level 1 [Member] | Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 2,120,882 | 2,967,103 |
Commodity and Cryptocurrency Futures Contracts | 1,585,798 | |
Fair Value, Inputs, Level 2 [Member] | ||
Cash Equivalents | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Total | 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 | |
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 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Total | 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 | |
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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Derivative, Average Notional Amount | $ 352.7 | $ 662.8 | $ 353.3 | $ 611.7 |
Teucrium Corn Fund [Member] | ||||
Derivative, Average Notional Amount | $ 96.6 | $ 209.7 | $ 106.5 | $ 201.4 |
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 ($) | Sep. 30, 2023 | Dec. 31, 2022 | |
Derivative liabilities | $ 25,923,738 | $ 29,433,069 | |
Corn Futures Contracts [Member] | |||
Gross amount of recognized liabilities | 2,120,882 | 2,967,103 | |
Gross amount offset, liabilities | 0 | 0 | |
Derivative liabilities | 2,120,882 | 2,967,103 | |
Futures contracts available for offset, liabilities | 0 | 1,585,798 | |
Collateral, due from broker, liabilities | [1] | 2,120,882 | 1,381,305 |
Net amount, liabilities | 0 | 0 | |
Gross amount of recognized assets | 1,585,798 | ||
Gross amount offset, assets | 0 | ||
Derivative asset | 1,585,798 | ||
Available for offset, assets | 1,585,798 | ||
Collateral, due to broker, assets | 0 | ||
Net amount, assets | 0 | ||
Corn Futures Contracts [Member] | Teucrium Corn Fund [Member] | |||
Gross amount of recognized liabilities | 2,120,882 | 2,967,103 | |
Gross amount offset, liabilities | 0 | 0 | |
Derivative liabilities | 2,120,882 | 2,967,103 | |
Futures contracts available for offset, liabilities | 0 | 1,585,798 | |
Collateral, due from broker, liabilities | [1] | 2,120,882 | 1,381,305 |
Net amount, liabilities | $ 0 | 0 | |
Gross amount of recognized assets | 1,585,798 | ||
Gross amount offset, assets | 0 | ||
Derivative asset | 1,585,798 | ||
Available for offset, assets | 1,585,798 | ||
Collateral, due to broker, assets | 0 | ||
Net amount, assets | $ 0 | ||
[1]The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not include the excess collateral pledged. |
Note 5 - Derivative Instrume_18
Note 5 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) on Derivative Instruments - Teucrium Corn Fund (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Realized Gain on Commodity Futures Contracts | $ (42,896,164) | $ (103,278,313) | [1],[2] | $ (85,437,409) | $ (14,666,473) | [1] |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 11,792,810 | 112,241,847 | [1],[2] | (2,677,343) | (15,553,587) | [1],[2] |
Teucrium Corn Fund [Member] | ||||||
Realized Gain on Commodity Futures Contracts | (13,018,346) | (10,344,285) | (24,479,726) | 28,678,780 | ||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 11,306,711 | 23,856,276 | (739,577) | (3,698,432) | ||
Corn Futures Contracts [Member] | ||||||
Realized Gain on Commodity Futures Contracts | (13,018,346) | (10,344,285) | [1] | (24,479,726) | 28,678,780 | [1] |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 11,306,711 | 23,856,276 | [1] | (739,577) | (3,698,432) | [1] |
Corn Futures Contracts [Member] | Teucrium Corn Fund [Member] | ||||||
Realized Gain on Commodity Futures Contracts | (13,018,346) | (10,344,285) | (24,479,726) | 28,678,780 | ||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ 11,306,711 | $ 23,856,276 | $ (739,577) | $ (3,698,432) | ||
[1]The Fund commenced operations on September 15, 2022.[2]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net asset value per share at beginning of period (in dollars per share) | $ 22.22 | $ 25.06 | $ 26.9 | $ 21.58 |
Income from investment operations: | ||||
Investment income (in dollars per share) | 0.3 | 0.13 | 0.88 | 0.21 |
Net realized and unrealized (loss) gain on commodity futures contracts (in dollars per share) | (0.3) | 1.96 | (5.26) | 5.58 |
Total expenses, net (in dollars per share) | (0.16) | (0.11) | (0.46) | (0.33) |
Net (decrease) increase in net asset value (in dollars per share) | (0.16) | 1.98 | (4.84) | 5.46 |
Net asset value per share at end of period (in dollars per share) | $ 22.06 | $ 27.04 | $ 22.06 | $ 27.04 |
Total Return | (0.73%) | 7.89% | (17.98%) | 25.30% |
Ratios to Average Net Assets (Annualized) | ||||
Total expenses | 2.82% | 1.79% | 2.51% | 1.90% |
Total expenses, net | 2.82% | 1.79% | 2.51% | 1.69% |
Net investment income (loss) | 2.41% | 0.27% | 2.32% | (0.64%) |
Schedule of Investments (Una_14
Schedule of Investments (Unaudited) - Investments - Teucrium Soybean Fund (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Fair value | $ 2,520,370 | |
Percentage of net assets | 4.30% | |
Notional amount, asset | $ 58,412,138 | |
Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 510,168 | |
Percentage of net assets | 1.64% | |
Number of contracts | ||
Notional amount, liability | $ 20,390,775 | |
Money Market Funds [Member] | ||
Cost | 147,921,285 | 188,640,417 |
Fair value | $ 147,921,285 | $ 188,640,417 |
Percentage of net assets | 43.30% | 40.54% |
Money Market Funds [Member] | Teucrium Soybean Fund [Member] | ||
Cost | $ 7,646,258 | $ 25,631,042 |
Fair value | $ 7,646,258 | $ 25,631,042 |
Percentage of net assets | 24.52% | 43.87% |
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 4.105% | |
Cost | $ 28,382,122 | |
Fair value | $ 28,382,122 | |
Percentage of net assets | 6.10% | |
Shares (in shares) | 28,382,122 | |
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | Teucrium Soybean Fund [Member] | ||
Index | 4.105% | |
Cost | $ 10,287,270 | |
Fair value | $ 10,287,270 | |
Percentage of net assets | 17.61% | |
Shares (in shares) | 10,287,270 | |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 5.24% | 4.14% |
Cost | $ 77,776,959 | $ 160,258,295 |
Fair value | $ 77,776,959 | $ 160,258,295 |
Percentage of net assets | 22.77% | 34.44% |
Shares (in shares) | 77,776,959 | 160,258,295 |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | Teucrium Soybean Fund [Member] | ||
Index | 5.24% | 4.14% |
Cost | $ 5,871,233 | $ 15,343,772 |
Fair value | $ 5,871,233 | $ 15,343,772 |
Percentage of net assets | 18.83% | 26.26% |
Shares (in shares) | 5,871,233 | 15,343,772 |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.27% | |
Cost | $ 70,144,326 | |
Fair value | $ 70,144,326 | |
Percentage of net assets | 20.53% | |
Shares (in shares) | 70,144,326 | |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | Teucrium Soybean Fund [Member] | ||
Index | 5.27% | |
Cost | $ 1,775,025 | |
Fair value | $ 1,775,025 | |
Percentage of net assets | 5.69% | |
Shares (in shares) | 1,775,025 | |
CBOT Soybean Futures MAR23 [Member] | Soybean Futures Contracts [Member] | ||
Fair value | $ 642,912 | |
Percentage of net assets | 0.14% | |
Number of contracts | 268 | |
Notional amount, asset | $ 20,421,600 | |
CBOT Soybean Futures MAR23 [Member] | Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Fair value | $ 642,912 | |
Percentage of net assets | 1.10% | |
Number of contracts | 268 | |
Notional amount, asset | $ 20,421,600 | |
CBOT Soybean Futures MAY23 [Member] | Soybean Futures Contracts [Member] | ||
Fair value | $ 807,218 | |
Percentage of net assets | 0.17% | |
Number of contracts | 229 | |
Notional amount, asset | $ 17,518,500 | |
CBOT Soybean Futures MAY23 [Member] | Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Fair value | $ 807,218 | |
Percentage of net assets | 1.38% | |
Number of contracts | 229 | |
Notional amount, asset | $ 17,518,500 | |
Commercial Paper [Member] | ||
Cost | $ 145,108,778 | 198,351,250 |
Fair value | $ 145,852,514 | $ 199,360,060 |
Percentage of net assets | 42.69% | 42.84% |
Commercial Paper [Member] | Teucrium Soybean Fund [Member] | ||
Cost | $ 16,858,736 | $ 27,309,189 |
Fair value | $ 16,955,529 | $ 27,438,032 |
Percentage of net assets | 54.39% | 46.96% |
Commercial Paper [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | Teucrium Soybean Fund [Member] | ||
Index | 5.806% | 4.734% |
Cost | $ 1,983,850 | $ 4,959,225 |
Fair value | $ 1,996,833 | $ 4,989,644 |
Percentage of net assets | 6.40% | 8.54% |
Maturity date | Oct. 11, 2023 | Jan. 17, 2023 |
Principal amount | $ 2,000,000 | $ 5,000,000 |
Commercial Paper [Member] | General Motors Financial Company, Inc. [Member] | Teucrium Soybean Fund [Member] | ||
Index | 5.468% | |
Cost | $ 2,468,361 | |
Fair value | $ 2,499,255 | |
Percentage of net assets | 8.02% | |
Maturity date | Oct. 03, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Harley-Davidson Financial Services, Inc. [Member] | Teucrium Soybean Fund [Member] | ||
Index | 5.746% | |
Cost | $ 2,478,067 | |
Fair value | $ 2,498,825 | |
Percentage of net assets | 8.02% | |
Maturity date | Oct. 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 Soybean Fund [Member] | ||
Index | 5.793% | |
Cost | $ 2,490,896 | |
Fair value | $ 2,495,250 | |
Percentage of net assets | 8% | |
Maturity date | Oct. 13, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Marriott International, Inc. [Member] | ||
Index | 5.408% | |
Cost | $ 9,937,932 | |
Fair value | $ 9,986,700 | |
Percentage of net assets | 2.92% | |
Maturity date | Oct. 10, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Marriott International, Inc. [Member] | Teucrium Soybean Fund [Member] | ||
Index | 5.408% | |
Cost | $ 2,484,483 | |
Fair value | $ 2,496,675 | |
Percentage of net assets | 8.01% | |
Maturity date | Oct. 10, 2023 | |
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] | Entergy Corporation [Member] | Teucrium Soybean Fund [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] | National Fuel Gas Company [Member] | Teucrium Soybean Fund [Member] | ||
Index | 5.755% | |
Cost | $ 2,487,815 | |
Fair value | $ 2,492,925 | |
Percentage of net assets | 8% | |
Maturity date | Oct. 19, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Humana Inc. [Member] | ||
Index | 4.67% | |
Cost | $ 7,448,250 | |
Fair value | $ 7,492,333 | |
Percentage of net assets | 1.61% | |
Maturity date | Jan. 09, 2023 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Humana Inc. [Member] | Teucrium Soybean Fund [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] | Walgreens Boots Alliance, Inc. [Member] | Teucrium Soybean Fund [Member] | ||
Index | 5.944% | |
Cost | $ 2,465,264 | |
Fair value | $ 2,475,766 | |
Percentage of net assets | 7.94% | |
Maturity date | Nov. 30, 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 Soybean Fund [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 | |
CBOT Soybean Futures JAN24 [Member] | Soybean Futures Contracts [Member] | ||
Fair value | $ 134,775 | |
Percentage of net assets | 0.04% | |
Number of contracts | 167 | |
Notional amount, asset | $ 10,809,075 | |
CBOT Soybean Futures JAN24 [Member] | Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Fair value | $ 134,775 | |
Percentage of net assets | 0.43% | |
Number of contracts | 167 | |
Notional amount, asset | $ 10,809,075 | |
CBOT Soybean Futures MAR24 [Member] | Soybean Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 465,562 | |
Percentage of net assets | 0.14% | |
Number of contracts | 142 | |
Notional amount, liability | $ 9,302,775 | |
CBOT Soybean Futures MAR24 [Member] | Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 465,562 | |
Percentage of net assets | 1.49% | |
Number of contracts | 142 | |
Notional amount, liability | $ 9,302,775 | |
CBOT Soybean Futures NOV23 [Member] | Soybean Futures Contracts [Member] | ||
Fair value | $ 1,070,240 | |
Percentage of net assets | 0.23% | |
Number of contracts | 289 | |
Notional amount, asset | $ 20,472,038 | |
CBOT Soybean Futures NOV23 [Member] | Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Fair value | $ 1,070,240 | |
Percentage of net assets | 1.82% | |
Number of contracts | 289 | |
Notional amount, asset | $ 20,472,038 | |
CBOT soybean futures NOV24 [Member] | Soybean Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 44,606 | |
Percentage of net assets | 0.01% | |
Number of contracts | 176 | |
Notional amount, liability | $ 11,088,000 | |
CBOT soybean futures NOV24 [Member] | Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 44,606 | |
Percentage of net assets | 0.14% | |
Number of contracts | 176 | |
Notional amount, liability | $ 11,088,000 | |
Commercial Paper, One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.735% | 4.742% |
Cost | $ 4,956,994 | $ 14,877,488 |
Fair value | $ 4,992,180 | $ 14,968,886 |
Percentage of net assets | 1.46% | 3.22% |
Maturity date | Oct. 11, 2023 | Jan. 17, 2023 |
Principal amount | $ 5,000,000 | $ 15,000,000 |
Commercial Paper, One [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.468% | 4.276% |
Cost | $ 9,873,444 | $ 12,400,060 |
Fair value | $ 9,997,022 | $ 12,486,207 |
Percentage of net assets | 2.93% | 2.68% |
Maturity date | Oct. 03, 2023 | Jan. 10, 2023 |
Principal amount | $ 10,000,000 | $ 12,500,000 |
Commercial Paper, 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, One [Member] | CNH Industrial Capital LLC [Member] | Teucrium Soybean Fund [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, One [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.817% | 4.721% |
Cost | $ 4,940,626 | $ 5,263,032 |
Fair value | $ 4,998,416 | $ 5,298,631 |
Percentage of net assets | 1.46% | 1.14% |
Maturity date | Oct. 03, 2023 | Jan. 03, 2023 |
Principal amount | $ 5,000,000 | $ 5,300,000 |
Commercial Paper, 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, One [Member] | Crown Castle Inc. [Member] | Teucrium Soybean Fund [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, One [Member] | Jabil Inc. [Member] | ||
Index | 5.793% | |
Cost | $ 14,945,375 | |
Fair value | $ 14,971,500 | |
Percentage of net assets | 4.38% | |
Maturity date | Oct. 13, 2023 | |
Principal amount | $ 15,000,000 | |
Commercial Paper, One [Member] | National Fuel Gas Company [Member] | ||
Index | 5.754% | |
Cost | $ 9,954,406 | |
Fair value | $ 9,974,845 | |
Percentage of net assets | 2.92% | |
Maturity date | Oct. 17, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper, One [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 5.901% | 4.842% |
Cost | $ 9,908,335 | $ 4,970,188 |
Fair value | $ 9,950,147 | $ 4,971,512 |
Percentage of net assets | 2.91% | 1.07% |
Maturity date | Nov. 01, 2023 | Feb. 13, 2023 |
Principal amount | $ 10,000,000 | $ 5,000,000 |
Commercial Paper, One [Member] | Walgreens Boots Alliance, Inc. [Member] | Teucrium Soybean Fund [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, One [Member] | V.F. Corporation [Member] | ||
Index | 5.497% | 4.364% |
Cost | $ 4,958,750 | $ 4,959,390 |
Fair value | $ 4,967,750 | $ 4,990,444 |
Percentage of net assets | 1.45% | 1.07% |
Maturity date | Nov. 13, 2023 | Jan. 17, 2023 |
Principal amount | $ 5,000,000 | $ 5,000,000 |
Commercial Paper, One [Member] | V.F. Corporation [Member] | Teucrium Soybean Fund [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, Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.806% | 4.734% |
Cost | $ 3,967,700 | $ 4,959,225 |
Fair value | $ 3,993,666 | $ 4,989,644 |
Percentage of net assets | 1.17% | 1.07% |
Maturity date | Oct. 11, 2023 | Jan. 17, 2023 |
Principal amount | $ 4,000,000 | $ 5,000,000 |
Commercial Paper, Two [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.511% | 4.473% |
Cost | $ 4,933,250 | $ 7,418,417 |
Fair value | $ 4,982,000 | $ 7,484,417 |
Percentage of net assets | 1.46% | 1.61% |
Maturity date | Oct. 25, 2023 | Jan. 18, 2023 |
Principal amount | $ 5,000,000 | $ 7,500,000 |
Commercial Paper, 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, Two [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.697% | 4.944% |
Cost | $ 2,385,067 | $ 7,458,402 |
Fair value | $ 2,398,880 | $ 7,475,650 |
Percentage of net assets | 0.70% | 1.61% |
Maturity date | Oct. 04, 2023 | Jan. 25, 2023 |
Principal amount | $ 2,400,000 | $ 7,500,000 |
Commercial Paper, 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, Two [Member] | Crown Castle Inc. [Member] | Teucrium Soybean Fund [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, Two [Member] | Jabil Inc. [Member] | ||
Index | 5.793% | |
Cost | $ 4,981,000 | |
Fair value | $ 4,990,500 | |
Percentage of net assets | 1.46% | |
Maturity date | Oct. 13, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | National Fuel Gas Company [Member] | ||
Index | 5.755% | |
Cost | $ 7,463,445 | |
Fair value | $ 7,478,775 | |
Percentage of net assets | 2.19% | |
Maturity date | Oct. 19, 2023 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, Two [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 5.944% | 4.827% |
Cost | $ 9,861,057 | $ 4,959,098 |
Fair value | $ 9,903,064 | $ 4,961,736 |
Percentage of net assets | 2.90% | 1.07% |
Maturity date | Nov. 30, 2023 | Feb. 28, 2023 |
Principal amount | $ 10,000,000 | $ 5,000,000 |
Commercial Paper, Two [Member] | V.F. Corporation [Member] | ||
Index | 5.558% | 4.669% |
Cost | $ 4,941,717 | $ 6,456,811 |
Fair value | $ 4,951,556 | $ 6,473,422 |
Percentage of net assets | 1.45% | 1.39% |
Maturity date | Dec. 04, 2023 | Feb. 02, 2023 |
Principal amount | $ 5,000,000 | $ 6,500,000 |
Commercial Paper, Two [Member] | V.F. Corporation [Member] | Teucrium Soybean Fund [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 | |
Cash and Cash Equivalents [Member] | ||
Fair value | $ 293,773,799 | $ 388,000,477 |
Percentage of net assets | 85.99% | 83.37% |
Cash and Cash Equivalents [Member] | Teucrium Soybean Fund [Member] | ||
Fair value | $ 24,601,787 | $ 53,069,074 |
Percentage of net assets | 78.91% | 90.83% |
Note 1 - Organization and Op_17
Note 1 - Organization and Operation - Teucrium Soybean Fund (Details Textual) | 9 Months Ended | |||
Sep. 16, 2011 USD ($) shares | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) shares | ||
Stock Issued During Period, Value, New Issues | $ | $ 140,135,089 | $ 1,216,204,797 | [1] | |
Teucrium Soybean Fund [Member] | ||||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | |||
Derivative, Number of Instruments Held, Total | 3 | |||
Number of Creation Baskets Issued | 2 | |||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 100,000 | 350,000 | 1,950,000 | |
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 9,394,540 | $ 53,625,065 | |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 1 - Organization and Op_18
Note 1 - Organization and Operation - Benchmark - Teucrium Soybean Fund (Details) - Teucrium Soybean Fund [Member] | Sep. 30, 2023 |
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) | 9 Months Ended |
Sep. 30, 2023 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 | 3 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | Teucrium Soybean Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | 3 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.5 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 16.50% |
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 | $ 2.5 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 16.50% |
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 ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Amount Recognized for Custody Services | $ 115,736 | $ 151,161 | [1] | $ 333,733 | $ 280,651 | [1] |
Amount Recognized for Distribution Services | 1,024,521 | 1,170,838 | [1] | 2,928,637 | 3,058,779 | [1] |
Amount Recognized for Wilmington Trust | 42,299 | 17,473 | [1] | 113,427 | 114,848 | [1] |
Related Party [Member] | ||||||
Amount Waived | 1,347 | 19,090 | [1] | 70,069 | 498,171 | [1] |
Teucrium Soybean Fund [Member] | ||||||
Amount Recognized for Custody Services | 14,186 | 13,002 | 31,501 | 24,008 | ||
Amount Recognized for Distribution Services | 130,302 | 94,938 | 302,041 | 294,524 | ||
Amount Recognized for Wilmington Trust | 8,973 | 1,762 | 19,938 | 15,833 | ||
Teucrium Soybean Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 32,056 | ||
Custody Services [Member] | Related Party [Member] | ||||||
Amount Recognized for Custody Services | 115,736 | 151,161 | [1] | 333,733 | 280,651 | [1] |
Amount Waived | 3,360 | 7,455 | [1] | 19,876 | 35,556 | [1] |
Custody Services [Member] | Teucrium Soybean Fund [Member] | Related Party [Member] | ||||||
Amount Recognized for Custody Services | 14,186 | 13,002 | 31,501 | 24,008 | ||
Amount Waived | 0 | 0 | 0 | 4,000 | ||
Distribution Services [Member] | Related Party [Member] | ||||||
Amount Waived | 1,835 | 2,739 | [1] | 6,771 | 45,733 | [1] |
Amount Recognized for Distribution Services | 35,012 | 53,835 | [1] | 111,505 | 147,890 | [1] |
Distribution Services [Member] | Teucrium Soybean Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 3,962 | ||
Amount Recognized for Distribution Services | 3,636 | 4,476 | 10,808 | 14,860 | ||
Wilmington Trust Company [Member] | Related Party [Member] | ||||||
Amount Waived | 171 | 550 | [1] | 171 | 550 | [1] |
Amount Recognized for Wilmington Trust | 3,300 | 3,300 | [1] | 3,300 | 3,300 | [1] |
Wilmington Trust Company [Member] | Teucrium Soybean Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 0 | ||
Amount Recognized for Wilmington Trust | 317 | 550 | 317 | 550 | ||
Thales Capital Partners LLC [Member] | Related Party [Member] | ||||||
Amount Waived | 3,108 | 2,605 | [1] | 5,367 | 103,396 | [1] |
Amount Recognized for Distribution Services | 54,612 | 54,755 | [1] | 92,190 | 212,879 | [1] |
Thales Capital Partners LLC [Member] | Teucrium Soybean Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 0 | ||
Amount Recognized for Distribution Services | $ 5,219 | $ 4,543 | $ 8,760 | $ 22,314 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_25
Note 3 - Summary of Significant Accounting Policies - Teucrium Soybean Fund (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Open Tax Year | 2020 2021 2022 | ||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0 | $ 0 | $ 0 | $ 0 | |||
Teucrium Soybean Fund [Member] | |||||||
Open Tax Year | 2020 2021 2022 | ||||||
Unrecognized Tax Benefits, Ending Balance | 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | $ 0 | $ 0 | |||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | 25,000 | |||||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 25,000 | 25,000 | |||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | 50,000 | |||||
Minimum Number of RedemptionBaskets | 2 | 2 | |||||
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 ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Brokerage Commissions | $ 71,113 | $ 142,699 | $ 172,849 | $ 597,559 | ||
Teucrium Soybean Fund [Member] | ||||||
Brokerage Commissions | $ 2,220 | $ 6,432 | $ 10,999 | $ 21,638 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_27
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents - Teucrium Soybean Fund (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Money Market Funds | $ 147,921,285 | $ 188,640,417 |
Demand Deposit Savings Accounts | 28,763,367 | 46,061,819 |
Commercial Paper | 145,852,514 | 199,360,060 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | 322,537,166 | 434,062,296 |
Teucrium Soybean Fund [Member] | ||
Money Market Funds | 7,646,258 | 25,631,042 |
Demand Deposit Savings Accounts | 5,327,990 | 5,143,495 |
Commercial Paper | 16,955,529 | 27,438,032 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 29,929,777 | $ 58,212,569 |
Note 3 - Summary of Signific_28
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions - Teucrium Soybean Fund (Details) - Related Party [Member] - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Recognized Related Party Transactions | $ 566,723 | $ 638,361 | [1] | $ 1,889,702 | $ 2,055,991 | [1] |
Waived Related Party Transactions | 1,347 | 19,090 | [1] | 70,069 | 498,171 | [1] |
Teucrium Soybean Fund [Member] | ||||||
Recognized Related Party Transactions | 59,564 | 53,104 | 185,249 | 205,250 | ||
Waived Related Party Transactions | $ 0 | $ 0 | $ 0 | $ 32,056 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_29
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor - Teucrium Soybean Fund (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Expenses waived by the Sponsor | $ 168,505 | $ 62,609 | $ 578,373 | $ 1,115,590 | ||
Teucrium Soybean Fund [Member] | ||||||
Expenses waived by the Sponsor | $ 0 | $ 0 | $ 0 | $ 89,562 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 4 - Fair Value Measurem_17
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Soybean Fund (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Cash Equivalents | $ 293,773,799 | $ 388,000,477 |
Total | 295,794,506 | 396,207,858 |
Commodity and Cryptocurrency Futures Contracts | 25,923,738 | 29,433,069 |
Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 134,775 | 2,520,370 |
Commodity and Cryptocurrency Futures Contracts | 510,168 | |
Teucrium Soybean Fund [Member] | ||
Cash Equivalents | 24,601,787 | 53,069,074 |
Total | 24,736,562 | 55,589,444 |
Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 134,775 | 2,520,370 |
Commodity and Cryptocurrency Futures Contracts | 510,168 | |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 293,773,799 | 388,000,477 |
Total | 295,794,506 | 396,207,858 |
Commodity and Cryptocurrency Futures Contracts | 25,923,738 | 29,433,069 |
Fair Value, Inputs, Level 1 [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 134,775 | 2,520,370 |
Commodity and Cryptocurrency Futures Contracts | 510,168 | |
Fair Value, Inputs, Level 1 [Member] | Teucrium Soybean Fund [Member] | ||
Cash Equivalents | 24,601,787 | 53,069,074 |
Total | 24,736,562 | 55,589,444 |
Fair Value, Inputs, Level 1 [Member] | Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 134,775 | 2,520,370 |
Commodity and Cryptocurrency Futures Contracts | 510,168 | |
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] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 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 |
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] | Soybean Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 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 |
Commodity and Cryptocurrency Futures Contracts | $ 0 |
Note 5 - Derivative Instrume_19
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Soybean Fund (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Derivative, Average Notional Amount | $ 352.7 | $ 662.8 | $ 353.3 | $ 611.7 |
Teucrium Soybean Fund [Member] | ||||
Derivative, Average Notional Amount | $ 34.7 | $ 68.6 | $ 37.2 | $ 64.6 |
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) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 | |
Derivative liabilities | $ 25,923,738 | $ 29,433,069 | |
Soybean Futures Contracts [Member] | |||
Gross amount of recognized assets | 134,775 | 2,520,370 | |
Gross amount offset, assets | 0 | 0 | |
Derivative asset | 134,775 | 2,520,370 | |
Available for offset, assets | 134,775 | 0 | |
Collateral, due to broker, assets | 0 | 0 | |
Net amount, assets | 0 | 2,520,370 | |
Gross amount of recognized liabilities | 510,168 | ||
Gross amount offset, liabilities | 0 | ||
Derivative liabilities | 510,168 | ||
Futures contracts available for offset, liabilities | 134,775 | ||
Collateral, due from broker, liabilities | [1] | 375,393 | |
Net amount, liabilities | 0 | ||
Soybean Futures Contracts [Member] | Teucrium Soybean Fund [Member] | |||
Gross amount of recognized assets | 134,775 | 2,520,370 | |
Gross amount offset, assets | 0 | 0 | |
Derivative asset | 134,775 | 2,520,370 | |
Available for offset, assets | 134,775 | 0 | |
Collateral, due to broker, assets | 0 | 0 | |
Net amount, assets | 0 | $ 2,520,370 | |
Gross amount of recognized liabilities | 510,168 | ||
Gross amount offset, liabilities | 0 | ||
Derivative liabilities | 510,168 | ||
Futures contracts available for offset, liabilities | 134,775 | ||
Collateral, due from broker, liabilities | [1] | 375,393 | |
Net amount, liabilities | $ 0 | ||
[1]The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not include the excess collateral pledged. |
Note 5 - Derivative Instrume_21
Note 5 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) on Derivative Instruments - Teucrium Soybean Fund (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Realized Gain on Commodity Futures Contracts | $ (42,896,164) | $ (103,278,313) | [1],[2] | $ (85,437,409) | $ (14,666,473) | [1] |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 11,792,810 | 112,241,847 | [1],[2] | (2,677,343) | (15,553,587) | [1],[2] |
Teucrium Soybean Fund [Member] | ||||||
Realized Gain on Commodity Futures Contracts | 311,294 | 977,658 | 270,814 | 10,675,505 | ||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (507,789) | (3,855,440) | (2,895,763) | (5,768,700) | ||
Soybean Futures Contracts [Member] | ||||||
Realized Gain on Commodity Futures Contracts | 311,294 | 977,658 | [1] | 270,814 | 10,675,505 | [1] |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (507,789) | (3,855,440) | [1] | (2,895,763) | (5,768,700) | [1] |
Soybean Futures Contracts [Member] | Teucrium Soybean Fund [Member] | ||||||
Realized Gain on Commodity Futures Contracts | 311,294 | 977,658 | 270,814 | 10,675,505 | ||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ (507,789) | $ (3,855,440) | $ (2,895,763) | $ (5,768,700) | ||
[1]The Fund commenced operations on September 15, 2022.[2]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net asset value per share at beginning of period (in dollars per share) | $ 27.33 | $ 27.07 | $ 28.5 | $ 22.77 |
Income from investment operations: | ||||
Investment income (in dollars per share) | 0.37 | 0.13 | 1 | 0.21 |
Net realized and unrealized (loss) gain on commodity futures contracts (in dollars per share) | (0.34) | (0.98) | (1.76) | 3.48 |
Total expenses, net (in dollars per share) | (0.25) | (0.11) | (0.63) | (0.35) |
Net (decrease) increase in net asset value (in dollars per share) | (0.22) | (0.96) | (1.39) | 3.34 |
Net asset value per share at end of period (in dollars per share) | $ 27.11 | $ 26.11 | $ 27.11 | $ 26.11 |
Total Return | (0.80%) | (3.52%) | (4.89%) | 14.68% |
Ratios to Average Net Assets (Annualized) | ||||
Total expenses | 3.57% | 1.73% | 3.05% | 1.92% |
Total expenses, net | 3.57% | 1.73% | 3.05% | 1.75% |
Net investment income (loss) | 1.68% | 0.34% | 1.81% | (0.68%) |
Schedule of Investments (Una_15
Schedule of Investments (Unaudited) - Investments - Teucrium Sugar Fund (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Sugar Futures Contracts [Member] | Liability [Member] | ||
Fair value | ||
Percentage of net assets | 0% | |
Number of contracts | ||
Notional amount, liability | ||
Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Fair value | $ 1,866,449 | $ 911,329 |
Percentage of net assets | 7.66% | 3.76% |
Notional amount, asset | $ 17,068,632 | $ 15,697,337 |
Money Market Funds [Member] | ||
Cost | 147,921,285 | 188,640,417 |
Fair value | $ 147,921,285 | $ 188,640,417 |
Percentage of net assets | 43.30% | 40.54% |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.27% | |
Cost | $ 70,144,326 | |
Fair value | $ 70,144,326 | |
Percentage of net assets | 20.53% | |
Shares (in shares) | 70,144,326 | |
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 4.105% | |
Cost | $ 28,382,122 | |
Fair value | $ 28,382,122 | |
Percentage of net assets | 6.10% | |
Shares (in shares) | 28,382,122 | |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 5.24% | 4.14% |
Cost | $ 77,776,959 | $ 160,258,295 |
Fair value | $ 77,776,959 | $ 160,258,295 |
Percentage of net assets | 22.77% | 34.44% |
Shares (in shares) | 77,776,959 | 160,258,295 |
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | ||
Cost | $ 10,927,247 | $ 9,920,499 |
Fair value | $ 10,927,247 | $ 9,920,499 |
Percentage of net assets | 44.87% | 40.89% |
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.27% | |
Cost | $ 7,060,230 | |
Fair value | $ 7,060,230 | |
Percentage of net assets | 28.99% | |
Shares (in shares) | 7,060,230 | |
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 4.105% | |
Cost | $ 5,634,177 | |
Fair value | $ 5,634,177 | |
Percentage of net assets | 23.22% | |
Shares (in shares) | 5,634,177 | |
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 5.24% | 4.14% |
Cost | $ 3,867,017 | $ 4,286,322 |
Fair value | $ 3,867,017 | $ 4,286,322 |
Percentage of net assets | 15.88% | 17.67% |
Shares (in shares) | 3,867,017 | 4,286,322 |
Commercial Paper [Member] | ||
Cost | $ 145,108,778 | $ 198,351,250 |
Fair value | $ 145,852,514 | $ 199,360,060 |
Percentage of net assets | 42.69% | 42.84% |
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] | Marriott International, Inc. [Member] | ||
Index | 5.408% | |
Cost | $ 9,937,932 | |
Fair value | $ 9,986,700 | |
Percentage of net assets | 2.92% | |
Maturity date | Oct. 10, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Glencore Funding LLC [Member] | ||
Index | 5.613% | |
Cost | $ 2,467,917 | |
Fair value | $ 2,484,723 | |
Percentage of net assets | 0.73% | |
Maturity date | Nov. 10, 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] | Teucrium Sugar Fund [Member] | ||
Cost | 9,424,792 | 9,922,209 |
Fair value | $ 9,464,920 | $ 9,987,304 |
Percentage of net assets | 38.87% | 41.16% |
Commercial Paper [Member] | Teucrium Sugar Fund [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.806% | |
Cost | $ 1,983,850 | |
Fair value | $ 1,996,833 | |
Percentage of net assets | 8.20% | |
Maturity date | Oct. 11, 2023 | |
Principal amount | $ 2,000,000 | |
Commercial Paper [Member] | Teucrium Sugar Fund [Member] | Entergy Corporation [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] | Teucrium Sugar Fund [Member] | Marriott International, Inc. [Member] | ||
Index | 5.408% | |
Cost | $ 2,484,483 | |
Fair value | $ 2,496,675 | |
Percentage of net assets | 10.25% | |
Maturity date | Oct. 10, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Sugar Fund [Member] | V.F. Corporation [Member] | ||
Index | 5.497% | |
Cost | $ 2,479,375 | |
Fair value | $ 2,483,875 | |
Percentage of net assets | 10.20% | |
Maturity date | Nov. 13, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Sugar Fund [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 5.901% | |
Cost | $ 2,477,084 | |
Fair value | $ 2,487,537 | |
Percentage of net assets | 10.22% | |
Maturity date | Nov. 01, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Sugar Fund [Member] | VW Credit, Inc. [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 | |
ICE Sugar Futures MAY24 [Member] | Sugar Futures Contracts [Member] | ||
Fair value | $ 993,509 | |
Percentage of net assets | 0.29% | |
Number of contracts | 301 | |
Notional amount, asset | $ 8,515,651 | |
ICE Sugar Futures MAY24 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Fair value | $ 993,509 | |
Percentage of net assets | 4.08% | |
Number of contracts | 301 | |
Notional amount, asset | $ 8,515,651 | |
ICE Sugar Futures JUL24 [Member] | Sugar Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 107,186 | |
Percentage of net assets | 0.03% | |
Number of contracts | 268 | |
Notional amount, liability | $ 7,293,888 | |
ICE Sugar Futures JUL24 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 107,186 | |
Percentage of net assets | 0.44% | |
Number of contracts | 268 | |
Notional amount, liability | $ 7,293,888 | |
ICE Sugar Futures MAY23 [Member] | Sugar Futures Contracts [Member] | ||
Fair value | $ 356,963 | |
Percentage of net assets | 0.08% | |
Number of contracts | 401 | |
Notional amount, asset | $ 8,407,526 | |
ICE Sugar Futures MAY23 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Fair value | $ 356,963 | |
Percentage of net assets | 1.47% | |
Number of contracts | 401 | |
Notional amount, asset | $ 8,407,526 | |
ICE Sugar Futures MAR24 [Member] | Commodity Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 85,128 | |
Percentage of net assets | 0.02% | |
Number of contracts | 427 | |
Notional amount, liability | $ 8,565,278 | |
ICE Sugar Futures MAR24 [Member] | Teucrium Sugar Fund [Member] | Commodity Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 85,128 | |
Percentage of net assets | 0.35% | |
Number of contracts | 427 | |
Notional amount, liability | $ 8,565,278 | |
ICE Sugar Futures MAR25 [Member] | Sugar Futures Contracts [Member] | ||
Fair value | $ 872,940 | |
Percentage of net assets | 0.26% | |
Number of contracts | 321 | |
Notional amount, asset | $ 8,552,981 | |
ICE Sugar Futures MAR25 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Fair value | $ 872,940 | |
Percentage of net assets | 3.58% | |
Number of contracts | 321 | |
Notional amount, asset | $ 8,552,981 | |
Commercial Paper, One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.735% | 4.742% |
Cost | $ 4,956,994 | $ 14,877,488 |
Fair value | $ 4,992,180 | $ 14,968,886 |
Percentage of net assets | 1.46% | 3.22% |
Maturity date | Oct. 11, 2023 | Jan. 17, 2023 |
Principal amount | $ 5,000,000 | $ 15,000,000 |
Commercial Paper, One [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.468% | 4.276% |
Cost | $ 9,873,444 | $ 12,400,060 |
Fair value | $ 9,997,022 | $ 12,486,207 |
Percentage of net assets | 2.93% | 2.68% |
Maturity date | Oct. 03, 2023 | Jan. 10, 2023 |
Principal amount | $ 10,000,000 | $ 12,500,000 |
Commercial Paper, One [Member] | V.F. Corporation [Member] | ||
Index | 5.497% | 4.364% |
Cost | $ 4,958,750 | $ 4,959,390 |
Fair value | $ 4,967,750 | $ 4,990,444 |
Percentage of net assets | 1.45% | 1.07% |
Maturity date | Nov. 13, 2023 | Jan. 17, 2023 |
Principal amount | $ 5,000,000 | $ 5,000,000 |
Commercial Paper, 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, One [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 5.901% | 4.842% |
Cost | $ 9,908,335 | $ 4,970,188 |
Fair value | $ 9,950,147 | $ 4,971,512 |
Percentage of net assets | 2.91% | 1.07% |
Maturity date | Nov. 01, 2023 | Feb. 13, 2023 |
Principal amount | $ 10,000,000 | $ 5,000,000 |
Commercial Paper, One [Member] | Teucrium Sugar Fund [Member] | General Motors Financial Company, Inc. [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, One [Member] | Teucrium Sugar Fund [Member] | Glencore Funding LLC [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 | |
ICE Sugar Futures JUL23 [Member] | Sugar Futures Contracts [Member] | ||
Fair value | $ 554,366 | |
Percentage of net assets | 0.12% | |
Number of contracts | 362 | |
Notional amount, asset | $ 7,289,811 | |
ICE Sugar Futures JUL23 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Fair value | $ 554,366 | |
Percentage of net assets | 2.29% | |
Number of contracts | 362 | |
Notional amount, asset | $ 7,289,811 | |
Cash and Cash Equivalents [Member] | ||
Fair value | $ 293,773,799 | $ 388,000,477 |
Percentage of net assets | 85.99% | 83.37% |
Cash and Cash Equivalents [Member] | Teucrium Sugar Fund [Member] | ||
Fair value | $ 20,392,167 | $ 19,907,803 |
Percentage of net assets | 83.74% | 82.05% |
Note 1 - Organization and Op_19
Note 1 - Organization and Operation - Teucrium Sugar Fund (Details Textual) | 9 Months Ended | |||
Sep. 16, 2011 USD ($) shares | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) shares | ||
Stock Issued During Period, Value, New Issues | $ | $ 140,135,089 | $ 1,216,204,797 | [1] | |
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 | 1,525,000 | 2,675,000 | |
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 18,605,025 | $ 26,012,883 | |
Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||||
Derivative, Number of Instruments Held, Total | 3 | |||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 1 - Organization and Op_20
Note 1 - Organization and Operation - Benchmark - Teucrium Sugar Fund (Details) - Teucrium Sugar Fund [Member] | Sep. 30, 2023 |
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) | 9 Months Ended |
Sep. 30, 2023 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 | 3 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | Teucrium Sugar Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | 3 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.5 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 16.50% |
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 | $ 2.5 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 16.50% |
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 ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Amount Recognized for Custody Services | $ 115,736 | $ 151,161 | [1] | $ 333,733 | $ 280,651 | [1] |
Amount Recognized for Distribution Services | 1,024,521 | 1,170,838 | [1] | 2,928,637 | 3,058,779 | [1] |
Amount Recognized for Wilmington Trust | 42,299 | 17,473 | [1] | 113,427 | 114,848 | [1] |
Related Party [Member] | ||||||
Amount Waived | 1,347 | 19,090 | [1] | 70,069 | 498,171 | [1] |
Teucrium Sugar Fund [Member] | ||||||
Amount Recognized for Custody Services | 5,799 | 5,101 | 18,037 | 10,335 | ||
Amount Recognized for Distribution Services | 67,563 | 41,123 | 166,254 | 133,178 | ||
Amount Recognized for Wilmington Trust | 3,479 | 1,088 | 14,600 | 26,099 | ||
Teucrium Sugar Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 25,739 | ||
Custody Services [Member] | Related Party [Member] | ||||||
Amount Recognized for Custody Services | 115,736 | 151,161 | [1] | 333,733 | 280,651 | [1] |
Amount Waived | 3,360 | 7,455 | [1] | 19,876 | 35,556 | [1] |
Custody Services [Member] | Teucrium Sugar Fund [Member] | Related Party [Member] | ||||||
Amount Recognized for Custody Services | 5,799 | 5,101 | 18,037 | 10,335 | ||
Amount Waived | 0 | 0 | 0 | 1,068 | ||
Distribution Services [Member] | Related Party [Member] | ||||||
Amount Waived | 1,835 | 2,739 | [1] | 6,771 | 45,733 | [1] |
Amount Recognized for Distribution Services | 35,012 | 53,835 | [1] | 111,505 | 147,890 | [1] |
Distribution Services [Member] | Teucrium Sugar Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 3,331 | ||
Amount Recognized for Distribution Services | 2,439 | 2,098 | 6,146 | 6,834 | ||
Wilmington Trust Company [Member] | Related Party [Member] | ||||||
Amount Waived | 171 | 550 | [1] | 171 | 550 | [1] |
Amount Recognized for Wilmington Trust | 3,300 | 3,300 | [1] | 3,300 | 3,300 | [1] |
Wilmington Trust Company [Member] | Teucrium Sugar Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 0 | ||
Amount Recognized for Wilmington Trust | 232 | 550 | 232 | 550 | ||
Thales Capital Partners LLC [Member] | Related Party [Member] | ||||||
Amount Waived | 3,108 | 2,605 | [1] | 5,367 | 103,396 | [1] |
Amount Recognized for Distribution Services | 54,612 | 54,755 | [1] | 92,190 | 212,879 | [1] |
Thales Capital Partners LLC [Member] | Teucrium Sugar Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 4,427 | ||
Amount Recognized for Distribution Services | $ 3,409 | $ 1,943 | $ 5,365 | $ 10,642 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_30
Note 3 - Summary of Significant Accounting Policies - Teucrium Sugar Fund (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Open Tax Year | 2020 2021 2022 | ||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0 | $ 0 | $ 0 | $ 0 | |||
Teucrium Sugar Fund [Member] | |||||||
Open Tax Year | 2020 2021 2022 | ||||||
Unrecognized Tax Benefits, Ending Balance | 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | $ 0 | $ 0 | |||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | 25,000 | |||||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 25,000 | 25,000 | |||||
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% |
Note 3 - Summary of Signific_31
Note 3 - Summary of Significant Accounting Policies - Total Brokerage Commissions Paid - Teucrium Sugar Fund (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Brokerage Commissions | $ 71,113 | $ 142,699 | $ 172,849 | $ 597,559 | ||
Teucrium Sugar Fund [Member] | ||||||
Brokerage Commissions | $ 3,707 | $ 5,436 | $ 19,661 | $ 31,972 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_32
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents - Teucrium Sugar Fund (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Money Market Funds | $ 147,921,285 | $ 188,640,417 |
Demand Deposit Savings Accounts | 28,763,367 | 46,061,819 |
Commercial Paper | 145,852,514 | 199,360,060 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | 322,537,166 | 434,062,296 |
Teucrium Sugar Fund [Member] | ||
Money Market Funds | 10,927,247 | 9,920,499 |
Demand Deposit Savings Accounts | 3,179,785 | 3,069,677 |
Commercial Paper | 9,464,920 | 9,987,304 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 23,571,952 | $ 22,977,480 |
Note 3 - Summary of Signific_33
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions - Teucrium Sugar Fund (Details) - Related Party [Member] - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Recognized Related Party Transactions | $ 566,723 | $ 638,361 | [1] | $ 1,889,702 | $ 2,055,991 | [1] |
Waived Related Party Transactions | 1,347 | 19,090 | [1] | 70,069 | 498,171 | [1] |
Teucrium Sugar Fund [Member] | ||||||
Recognized Related Party Transactions | 38,672 | 24,638 | 110,304 | 96,060 | ||
Waived Related Party Transactions | $ 0 | $ 0 | $ 0 | $ 25,739 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_34
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor - Teucrium Sugar Fund (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Expenses waived by the Sponsor | $ 168,505 | $ 62,609 | $ 578,373 | $ 1,115,590 | ||
Teucrium Sugar Fund [Member] | ||||||
Expenses waived by the Sponsor | $ 0 | $ 0 | $ 0 | $ 78,237 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 4 - Fair Value Measurem_18
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Sugar Fund (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Cash Equivalents | $ 293,773,799 | $ 388,000,477 |
Total | 295,794,506 | 396,207,858 |
Commodity and Cryptocurrency Futures Contracts | 25,923,738 | 29,433,069 |
Teucrium Sugar Fund [Member] | ||
Cash Equivalents | 20,392,167 | 19,907,803 |
Total | 22,258,616 | 20,819,132 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 293,773,799 | 388,000,477 |
Total | 295,794,506 | 396,207,858 |
Commodity and Cryptocurrency Futures Contracts | 25,923,738 | 29,433,069 |
Fair Value, Inputs, Level 1 [Member] | Teucrium Sugar Fund [Member] | ||
Cash Equivalents | 20,392,167 | 19,907,803 |
Total | 22,258,616 | 20,819,132 |
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] | Teucrium Sugar Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 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] | Teucrium Sugar Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Sugar Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,866,449 | 911,329 |
Commodity and Cryptocurrency Futures Contracts | 107,186 | 85,128 |
Sugar Futures Contracts [Member] | Teucrium Sugar Fund [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,866,449 | 911,329 |
Commodity and Cryptocurrency Futures Contracts | 107,186 | 85,128 |
Sugar Futures Contracts [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,866,449 | 911,329 |
Commodity and Cryptocurrency Futures Contracts | 107,186 | 85,128 |
Sugar Futures Contracts [Member] | Fair Value, Inputs, Level 1 [Member] | Teucrium Sugar Fund [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,866,449 | 911,329 |
Commodity and Cryptocurrency Futures Contracts | 107,186 | 85,128 |
Sugar Futures Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Sugar Futures Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | Teucrium Sugar Fund [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Sugar Futures Contracts [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Sugar Futures Contracts [Member] | Fair Value, Inputs, Level 3 [Member] | Teucrium Sugar Fund [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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Derivative, Average Notional Amount | $ 352.7 | $ 662.8 | $ 353.3 | $ 611.7 |
Teucrium Sugar Fund [Member] | ||||
Derivative, Average Notional Amount | $ 23.6 | $ 27.2 | $ 27.3 | $ 25.6 |
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 ($) | Sep. 30, 2023 | Dec. 31, 2022 | |
Derivative liabilities | $ 25,923,738 | $ 29,433,069 | |
Sugar Futures Contracts [Member] | |||
Gross amount of recognized assets | 1,866,449 | 911,329 | |
Gross amount offset, assets | 0 | 0 | |
Derivative asset | 1,866,449 | 911,329 | |
Available for offset, assets | 107,186 | 85,128 | |
Collateral, due to broker, assets | 997,931 | 0 | |
Net amount, assets | 761,332 | 826,201 | |
Gross amount of recognized liabilities | 107,186 | 85,128 | |
Gross amount offset, liabilities | 0 | 0 | |
Derivative liabilities | 107,186 | 85,128 | |
Futures contracts available for offset, liabilities | 107,186 | 85,128 | |
Collateral, due from broker, liabilities | [1] | 0 | 0 |
Net amount, liabilities | 0 | 0 | |
Sugar Futures Contracts [Member] | Teucrium Sugar Fund [Member] | |||
Gross amount of recognized assets | 1,866,449 | 911,329 | |
Gross amount offset, assets | 0 | 0 | |
Derivative asset | 1,866,449 | 911,329 | |
Available for offset, assets | 107,186 | 85,128 | |
Collateral, due to broker, assets | 997,931 | 0 | |
Net amount, assets | 761,332 | 826,201 | |
Gross amount of recognized liabilities | 107,186 | 85,128 | |
Gross amount offset, liabilities | 0 | 0 | |
Derivative liabilities | 107,186 | 85,128 | |
Futures contracts available for offset, liabilities | 107,186 | 85,128 | |
Collateral, due from broker, liabilities | [1] | 0 | 0 |
Net amount, liabilities | $ 0 | $ 0 | |
[1]The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not include the excess collateral pledged. |
Note 5 - Derivative Instrume_24
Note 5 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) on Derivative Instruments - Teucrium Sugar Fund (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Realized Gain on Commodity Futures Contracts | $ (42,896,164) | $ (103,278,313) | [1],[2] | $ (85,437,409) | $ (14,666,473) | [1] |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 11,792,810 | 112,241,847 | [1],[2] | (2,677,343) | (15,553,587) | [1],[2] |
Teucrium Sugar Fund [Member] | ||||||
Realized Gain on Commodity Futures Contracts | 2,271,032 | (948,329) | 11,018,654 | (476,906) | ||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 934,750 | (1,014,429) | 933,062 | (2,281,371) | ||
Sugar Futures Contracts [Member] | ||||||
Realized Gain on Commodity Futures Contracts | 2,271,032 | (948,329) | [1] | 11,018,654 | (476,906) | [1] |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 934,750 | (1,014,429) | [1] | 933,062 | (2,281,371) | [1] |
Sugar Futures Contracts [Member] | Teucrium Sugar Fund [Member] | ||||||
Realized Gain on Commodity Futures Contracts | 2,271,032 | (948,329) | 11,018,654 | (476,906) | ||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ 934,750 | $ (1,014,429) | $ 933,062 | $ (2,281,371) | ||
[1]The Fund commenced operations on September 15, 2022.[2]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net asset value per share at beginning of period (in dollars per share) | $ 12.7 | $ 9.32 | $ 9.51 | $ 9.23 |
Income from investment operations: | ||||
Investment income (in dollars per share) | 0.18 | 0.05 | 0.45 | 0.07 |
Net realized and unrealized (loss) gain on commodity futures contracts (in dollars per share) | 2 | (0.6) | 5.07 | (0.45) |
Total expenses, net (in dollars per share) | (0.12) | (0.04) | (0.28) | (0.12) |
Net (decrease) increase in net asset value (in dollars per share) | 2.06 | (0.59) | 5.24 | (0.5) |
Net asset value per share at end of period (in dollars per share) | $ 14.76 | $ 8.73 | $ 14.76 | $ 8.73 |
Total Return | 16.20% | (6.34%) | 55.11% | (5.38%) |
Ratios to Average Net Assets (Annualized) | ||||
Total expenses | 3.44% | 1.81% | 3.04% | 2.12% |
Total expenses, net | 3.44% | 1.81% | 3.04% | 1.75% |
Net investment income (loss) | 1.82% | 0.28% | 1.86% | (0.71%) |
Schedule of Investments (Una_16
Schedule of Investments (Unaudited) - Investments - Teucrium Wheat Fund (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Teucrium Wheat Fund [Member] | Commodity Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 23,185,502 | $ 26,380,838 |
Percentage of net assets | 11.95% | 11.52% |
Notional amount, liability | $ 193,873,288 | $ 160,295,138 |
Money Market Funds [Member] | ||
Cost | 147,921,285 | 188,640,417 |
Fair value | $ 147,921,285 | $ 188,640,417 |
Percentage of net assets | 43.30% | 40.54% |
Money Market Funds [Member] | Teucrium Wheat Fund [Member] | ||
Cost | $ 97,737,162 | $ 99,826,276 |
Fair value | $ 97,737,162 | $ 99,826,276 |
Percentage of net assets | 50.40% | 43.60% |
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 4.105% | |
Cost | $ 28,382,122 | |
Fair value | $ 28,382,122 | |
Percentage of net assets | 6.10% | |
Shares (in shares) | 28,382,122 | |
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | Teucrium Wheat Fund [Member] | ||
Index | 4.105% | |
Cost | $ 8,255,546 | |
Fair value | $ 8,255,546 | |
Percentage of net assets | 3.61% | |
Shares (in shares) | 8,255,546 | |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 5.24% | 4.14% |
Cost | $ 77,776,959 | $ 160,258,295 |
Fair value | $ 77,776,959 | $ 160,258,295 |
Percentage of net assets | 22.77% | 34.44% |
Shares (in shares) | 77,776,959 | 160,258,295 |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.24% | 4.14% |
Cost | $ 54,668,092 | $ 91,570,730 |
Fair value | $ 54,668,092 | $ 91,570,730 |
Percentage of net assets | 28.19% | 39.99% |
Shares (in shares) | 54,668,092 | 91,570,730 |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.27% | |
Cost | $ 70,144,326 | |
Fair value | $ 70,144,326 | |
Percentage of net assets | 20.53% | |
Shares (in shares) | 70,144,326 | |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.27% | |
Cost | $ 43,069,070 | |
Fair value | $ 43,069,070 | |
Percentage of net assets | 22.21% | |
Shares (in shares) | 43,069,070 | |
Commercial Paper, One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.735% | 4.742% |
Cost | $ 4,956,994 | $ 14,877,488 |
Fair value | $ 4,992,180 | $ 14,968,886 |
Percentage of net assets | 1.46% | 3.22% |
Maturity date | Oct. 11, 2023 | Jan. 17, 2023 |
Principal amount | $ 5,000,000 | $ 15,000,000 |
Commercial Paper, One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.735% | |
Cost | $ 2,478,497 | |
Fair value | $ 2,496,090 | |
Percentage of net assets | 1.29% | |
Maturity date | Oct. 11, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, 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, One [Member] | CNH Industrial Capital LLC [Member] | Teucrium Wheat Fund [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, One [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.468% | 4.276% |
Cost | $ 9,873,444 | $ 12,400,060 |
Fair value | $ 9,997,022 | $ 12,486,207 |
Percentage of net assets | 2.93% | 2.68% |
Maturity date | Oct. 03, 2023 | Jan. 10, 2023 |
Principal amount | $ 10,000,000 | $ 12,500,000 |
Commercial Paper, One [Member] | General Motors Financial Company, Inc. [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.468% | 4.276% |
Cost | $ 4,936,722 | $ 2,475,149 |
Fair value | $ 4,998,511 | $ 2,497,369 |
Percentage of net assets | 2.58% | 1.09% |
Maturity date | Oct. 03, 2023 | Jan. 10, 2023 |
Principal amount | $ 5,000,000 | $ 2,500,000 |
Commercial Paper, 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, One [Member] | Crown Castle Inc. [Member] | Teucrium Wheat Fund [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, 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, One [Member] | Glencore Funding LLC [Member] | Teucrium Wheat Fund [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, One [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.817% | 4.721% |
Cost | $ 4,940,626 | $ 5,263,032 |
Fair value | $ 4,998,416 | $ 5,298,631 |
Percentage of net assets | 1.46% | 1.14% |
Maturity date | Oct. 03, 2023 | Jan. 03, 2023 |
Principal amount | $ 5,000,000 | $ 5,300,000 |
Commercial Paper, One [Member] | Harley-Davidson Financial Services, Inc. [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.817% | 4.721% |
Cost | $ 2,470,313 | $ 2,780,470 |
Fair value | $ 2,499,208 | $ 2,799,277 |
Percentage of net assets | 1.29% | 1.22% |
Maturity date | Oct. 03, 2023 | Jan. 03, 2023 |
Principal amount | $ 2,500,000 | $ 2,800,000 |
Commercial Paper, One [Member] | Jabil Inc. [Member] | ||
Index | 5.793% | |
Cost | $ 14,945,375 | |
Fair value | $ 14,971,500 | |
Percentage of net assets | 4.38% | |
Maturity date | Oct. 13, 2023 | |
Principal amount | $ 15,000,000 | |
Commercial Paper, One [Member] | Jabil Inc. [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.793% | |
Cost | $ 9,963,583 | |
Fair value | $ 9,981,000 | |
Percentage of net assets | 5.15% | |
Maturity date | Oct. 13, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper, One [Member] | National Fuel Gas Company [Member] | ||
Index | 5.754% | |
Cost | $ 9,954,406 | |
Fair value | $ 9,974,845 | |
Percentage of net assets | 2.92% | |
Maturity date | Oct. 17, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper, One [Member] | National Fuel Gas Company [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.754% | |
Cost | $ 4,977,203 | |
Fair value | $ 4,987,423 | |
Percentage of net assets | 2.57% | |
Maturity date | Oct. 17, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | V.F. Corporation [Member] | ||
Index | 5.497% | 4.364% |
Cost | $ 4,958,750 | $ 4,959,390 |
Fair value | $ 4,967,750 | $ 4,990,444 |
Percentage of net assets | 1.45% | 1.07% |
Maturity date | Nov. 13, 2023 | Jan. 17, 2023 |
Principal amount | $ 5,000,000 | $ 5,000,000 |
Commercial Paper, One [Member] | V.F. Corporation [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.497% | 4.364% |
Cost | $ 2,479,375 | $ 2,479,695 |
Fair value | $ 2,483,875 | $ 2,495,222 |
Percentage of net assets | 1.28% | 1.09% |
Maturity date | Nov. 13, 2023 | Jan. 17, 2023 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Commercial Paper, 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, One [Member] | Oracle Corporation [Member] | Teucrium Wheat Fund [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, One [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 5.901% | 4.842% |
Cost | $ 9,908,335 | $ 4,970,188 |
Fair value | $ 9,950,147 | $ 4,971,512 |
Percentage of net assets | 2.91% | 1.07% |
Maturity date | Nov. 01, 2023 | Feb. 13, 2023 |
Principal amount | $ 10,000,000 | $ 5,000,000 |
Commercial Paper, One [Member] | Walgreens Boots Alliance, Inc. [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.944% | 4.842% |
Cost | $ 4,930,529 | $ 2,485,094 |
Fair value | $ 4,951,532 | $ 2,485,756 |
Percentage of net assets | 2.55% | 1.09% |
Maturity date | Nov. 30, 2023 | Feb. 13, 2023 |
Principal amount | $ 5,000,000 | $ 2,500,000 |
CBOT Wheat Futures MAR24 [Member] | Wheat Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 11,184,967 | |
Percentage of net assets | 3.27% | |
Number of contracts | 2,329 | |
Notional amount, liability | $ 66,784,075 | |
CBOT Wheat Futures MAR24 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 11,184,967 | |
Percentage of net assets | 5.77% | |
Number of contracts | 2,329 | |
Notional amount, liability | $ 66,784,075 | |
Commercial Paper [Member] | ||
Cost | 145,108,778 | 198,351,250 |
Fair value | $ 145,852,514 | $ 199,360,060 |
Percentage of net assets | 42.69% | 42.84% |
Commercial Paper [Member] | Teucrium Wheat Fund [Member] | ||
Cost | $ 74,326,989 | $ 97,073,593 |
Fair value | $ 74,701,941 | $ 97,594,565 |
Percentage of net assets | 38.52% | 42.62% |
Commercial Paper [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | Teucrium Wheat Fund [Member] | ||
Index | 4.742% | |
Cost | $ 7,438,744 | |
Fair value | $ 7,484,443 | |
Percentage of net assets | 3.27% | |
Maturity date | Jan. 17, 2023 | |
Principal amount | $ 7,500,000 | |
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] | American Electric Power Company, Inc. [Member] | Teucrium Wheat Fund [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] | Glencore Funding LLC [Member] | ||
Index | 5.613% | |
Cost | $ 2,467,917 | |
Fair value | $ 2,484,723 | |
Percentage of net assets | 0.73% | |
Maturity date | Nov. 10, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Glencore Funding LLC [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.613% | |
Cost | $ 2,467,917 | |
Fair value | $ 2,484,723 | |
Percentage of net assets | 1.28% | |
Maturity date | Nov. 10, 2023 | |
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] | Entergy Corporation [Member] | Teucrium Wheat Fund [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] | Hyundai Capital America [Member] | ||
Index | 5.509% | 4% |
Cost | $ 7,405,500 | $ 9,903,645 |
Fair value | $ 7,451,625 | $ 9,990,145 |
Percentage of net assets | 2.18% | 2.15% |
Maturity date | Nov. 13, 2023 | Jan. 10, 2023 |
Principal amount | $ 7,500,000 | $ 10,000,000 |
Commercial Paper [Member] | Hyundai Capital America [Member] | Teucrium Wheat Fund [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] | 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] | Marriott International, Inc. [Member] | ||
Index | 5.408% | |
Cost | $ 9,937,932 | |
Fair value | $ 9,986,700 | |
Percentage of net assets | 2.92% | |
Maturity date | Oct. 10, 2023 | |
Principal amount | $ 10,000,000 | |
Commercial Paper [Member] | Marriott International, Inc. [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.408% | |
Cost | $ 2,484,483 | |
Fair value | $ 2,496,675 | |
Percentage of net assets | 1.29% | |
Maturity date | Oct. 10, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Humana Inc. [Member] | ||
Index | 4.67% | |
Cost | $ 7,448,250 | |
Fair value | $ 7,492,333 | |
Percentage of net assets | 1.61% | |
Maturity date | Jan. 09, 2023 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Humana Inc. [Member] | Teucrium Wheat Fund [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] | 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] | ITT Inc. [Member] | Teucrium Wheat Fund [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] | 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 Wheat Fund [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 | |
CBOT Wheat Futures JUL23 [Member] | Wheat Futures Contracts [Member] | ||
Fair value | $ 3,160,732 | |
Percentage of net assets | 0.68% | |
Number of contracts | 1,711 | |
Notional amount, asset | $ 68,696,650 | |
CBOT Wheat Futures JUL23 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | ||
Fair value | $ 3,160,732 | |
Percentage of net assets | 1.38% | |
Number of contracts | 1,711 | |
Notional amount, asset | $ 68,696,650 | |
CBOT Wheat Futures MAY23 [Member] | Commodity Futures Contracts [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 | |
CBOT Wheat Futures MAY23 [Member] | Teucrium Wheat Fund [Member] | Commodity Futures Contracts [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 | |
Commercial Paper, Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.806% | 4.734% |
Cost | $ 3,967,700 | $ 4,959,225 |
Fair value | $ 3,993,666 | $ 4,989,644 |
Percentage of net assets | 1.17% | 1.07% |
Maturity date | Oct. 11, 2023 | Jan. 17, 2023 |
Principal amount | $ 4,000,000 | $ 5,000,000 |
Commercial Paper, Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.81% | |
Cost | $ 2,476,250 | |
Fair value | $ 2,490,896 | |
Percentage of net assets | 1.28% | |
Maturity date | Oct. 24, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, 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, Two [Member] | CNH Industrial Capital LLC [Member] | Teucrium Wheat Fund [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, Two [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.511% | 4.473% |
Cost | $ 4,933,250 | $ 7,418,417 |
Fair value | $ 4,982,000 | $ 7,484,417 |
Percentage of net assets | 1.46% | 1.61% |
Maturity date | Oct. 25, 2023 | Jan. 18, 2023 |
Principal amount | $ 5,000,000 | $ 7,500,000 |
Commercial Paper, Two [Member] | General Motors Financial Company, Inc. [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.511% | 4.473% |
Cost | $ 2,466,625 | $ 4,945,611 |
Fair value | $ 2,491,000 | $ 4,989,611 |
Percentage of net assets | 1.28% | 2.18% |
Maturity date | Oct. 25, 2023 | Jan. 18, 2023 |
Principal amount | $ 2,500,000 | $ 5,000,000 |
Commercial Paper, 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, Two [Member] | Crown Castle Inc. [Member] | Teucrium Wheat Fund [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, 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, Two [Member] | Glencore Funding LLC [Member] | Teucrium Wheat Fund [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, Two [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.697% | 4.944% |
Cost | $ 2,385,067 | $ 7,458,402 |
Fair value | $ 2,398,880 | $ 7,475,650 |
Percentage of net assets | 0.70% | 1.61% |
Maturity date | Oct. 04, 2023 | Jan. 25, 2023 |
Principal amount | $ 2,400,000 | $ 7,500,000 |
Commercial Paper, Two [Member] | Harley-Davidson Financial Services, Inc. [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.746% | 5.104% |
Cost | $ 4,956,134 | $ 2,479,780 |
Fair value | $ 4,997,650 | $ 2,488,844 |
Percentage of net assets | 2.58% | 1.09% |
Maturity date | Oct. 04, 2023 | Feb. 02, 2023 |
Principal amount | $ 5,000,000 | $ 2,500,000 |
Commercial Paper, Two [Member] | Jabil Inc. [Member] | ||
Index | 5.793% | |
Cost | $ 4,981,000 | |
Fair value | $ 4,990,500 | |
Percentage of net assets | 1.46% | |
Maturity date | Oct. 13, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | Jabil Inc. [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.793% | |
Cost | $ 4,981,000 | |
Fair value | $ 4,990,500 | |
Percentage of net assets | 2.57% | |
Maturity date | Oct. 13, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | National Fuel Gas Company [Member] | ||
Index | 5.755% | |
Cost | $ 7,463,445 | |
Fair value | $ 7,478,775 | |
Percentage of net assets | 2.19% | |
Maturity date | Oct. 19, 2023 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, Two [Member] | National Fuel Gas Company [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.755% | |
Cost | $ 2,487,815 | |
Fair value | $ 2,492,925 | |
Percentage of net assets | 1.29% | |
Maturity date | Oct. 19, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Two [Member] | V.F. Corporation [Member] | ||
Index | 5.558% | 4.669% |
Cost | $ 4,941,717 | $ 6,456,811 |
Fair value | $ 4,951,556 | $ 6,473,422 |
Percentage of net assets | 1.45% | 1.39% |
Maturity date | Dec. 04, 2023 | Feb. 02, 2023 |
Principal amount | $ 5,000,000 | $ 6,500,000 |
Commercial Paper, Two [Member] | V.F. Corporation [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.558% | 4.669% |
Cost | $ 4,941,717 | $ 1,986,711 |
Fair value | $ 4,951,556 | $ 1,991,822 |
Percentage of net assets | 2.55% | 0.87% |
Maturity date | Dec. 04, 2023 | Feb. 02, 2023 |
Principal amount | $ 5,000,000 | $ 2,000,000 |
Commercial Paper, 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, Two [Member] | Oracle Corporation [Member] | Teucrium Wheat Fund [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, Two [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 5.944% | 4.827% |
Cost | $ 9,861,057 | $ 4,959,098 |
Fair value | $ 9,903,064 | $ 4,961,736 |
Percentage of net assets | 2.90% | 1.07% |
Maturity date | Nov. 30, 2023 | Feb. 28, 2023 |
Principal amount | $ 10,000,000 | $ 5,000,000 |
Commercial Paper, Two [Member] | Walgreens Boots Alliance, Inc. [Member] | Teucrium Wheat Fund [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 | |
CBOT Wheat Futures MAY24 [Member] | Wheat Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 4,422,002 | |
Percentage of net assets | 1.29% | |
Number of contracts | 1,943 | |
Notional amount, liability | $ 57,779,963 | |
CBOT Wheat Futures MAY24 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 4,422,002 | |
Percentage of net assets | 2.28% | |
Number of contracts | 1,943 | |
Notional amount, liability | $ 57,779,963 | |
CBOT Wheat Futures DEC23 [Member] | Commodity Futures Contracts [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 | |
CBOT Wheat Futures DEC23 [Member] | Teucrium Wheat Fund [Member] | Commodity Futures Contracts [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 | |
Commercial Paper, Three [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.81% | |
Cost | $ 4,952,500 | |
Fair value | $ 4,981,792 | |
Percentage of net assets | 1.46% | |
Maturity date | Oct. 24, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Three [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.819% | |
Cost | $ 2,469,125 | |
Fair value | $ 2,474,271 | |
Percentage of net assets | 1.28% | |
Maturity date | Dec. 05, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Three [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.546% | |
Cost | $ 4,944,090 | |
Fair value | $ 4,980,356 | |
Percentage of net assets | 1.46% | |
Maturity date | Oct. 27, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Three [Member] | General Motors Financial Company, Inc. [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.546% | |
Cost | $ 4,944,090 | |
Fair value | $ 4,980,356 | |
Percentage of net assets | 2.57% | |
Maturity date | Oct. 27, 2023 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Three [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.746% | 5.104% |
Cost | $ 7,434,201 | $ 4,959,561 |
Fair value | $ 7,496,475 | $ 4,977,688 |
Percentage of net assets | 2.19% | 1.07% |
Maturity date | Oct. 04, 2023 | Feb. 02, 2023 |
Principal amount | $ 7,500,000 | $ 5,000,000 |
Commercial Paper, Three [Member] | Harley-Davidson Financial Services, Inc. [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.704% | |
Cost | $ 2,478,611 | |
Fair value | $ 2,486,000 | |
Percentage of net assets | 1.28% | |
Maturity date | Nov. 06, 2023 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Three [Member] | Hyundai Capital America [Member] | Teucrium Wheat Fund [Member] | ||
Index | 5.509% | |
Cost | $ 4,937,000 | |
Fair value | $ 4,967,750 | |
Percentage of net assets | 2.56% | |
Maturity date | Nov. 13, 2023 | |
Principal amount | $ 5,000,000 | |
CBOT Wheat Futures DEC24 [Member] | Wheat Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 7,578,533 | |
Percentage of net assets | 2.22% | |
Number of contracts | 2,140 | |
Notional amount, liability | $ 69,309,250 | |
CBOT Wheat Futures DEC24 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 7,578,533 | |
Percentage of net assets | 3.90% | |
Number of contracts | 2,140 | |
Notional amount, liability | $ 69,309,250 | |
Cash and Cash Equivalents [Member] | ||
Fair value | $ 293,773,799 | $ 388,000,477 |
Percentage of net assets | 85.99% | 83.37% |
Cash and Cash Equivalents [Member] | Teucrium Wheat Fund [Member] | ||
Fair value | $ 172,439,103 | $ 197,420,841 |
Percentage of net assets | 88.92% | 86.22% |
Note 1 - Organization and Op_21
Note 1 - Organization and Operation - Teucrium Wheat Fund (Details Textual) | 9 Months Ended | ||||||
Sep. 19, 2011 USD ($) $ / shares shares | Sep. 16, 2011 USD ($) shares | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) shares | Jun. 13, 2011 shares | Dec. 31, 2010 shares | ||
Stock Issued During Period, Value, New Issues | $ | $ 140,135,089 | $ 1,216,204,797 | [1] | ||||
Teucrium Wheat Fund [Member] | |||||||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | 25,000 | ||||||
Common Stock, Shares Authorized (in shares) | 10,000,000 | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | 100,000 | 100,000 | 14,200,000 | 84,050,000 | |||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 2,500,000 | $ 92,347,622 | $ 885,427,575 | |||
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 | ||||||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 1 - Organization and Op_22
Note 1 - Organization and Operation - Benchmark - Teucrium Wheat Fund (Details) - Teucrium Wheat Fund [Member] | Sep. 30, 2023 |
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) | 9 Months Ended |
Sep. 30, 2023 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% |
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 | 3 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | Teucrium Wheat Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | 3 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.5 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 16.50% |
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 | $ 2.5 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 16.50% |
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 ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Amount Recognized for Custody Services | $ 115,736 | $ 151,161 | [1] | $ 333,733 | $ 280,651 | [1] |
Amount Recognized for Distribution Services | 1,024,521 | 1,170,838 | [1] | 2,928,637 | 3,058,779 | [1] |
Amount Recognized for Wilmington Trust | 42,299 | 17,473 | [1] | 113,427 | 114,848 | [1] |
Related Party [Member] | ||||||
Amount Waived | 1,347 | 19,090 | [1] | 70,069 | 498,171 | [1] |
Teucrium Wheat Fund [Member] | ||||||
Amount Recognized for Custody Services | 56,664 | 83,198 | 173,789 | 156,575 | ||
Amount Recognized for Distribution Services | 504,760 | 675,323 | 1,524,159 | 1,562,788 | ||
Amount Recognized for Wilmington Trust | 14,683 | 6,024 | 27,831 | 32,738 | ||
Teucrium Wheat Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 224,587 | ||
Custody Services [Member] | Related Party [Member] | ||||||
Amount Recognized for Custody Services | 115,736 | 151,161 | [1] | 333,733 | 280,651 | [1] |
Amount Waived | 3,360 | 7,455 | [1] | 19,876 | 35,556 | [1] |
Custody Services [Member] | Teucrium Wheat Fund [Member] | Related Party [Member] | ||||||
Amount Recognized for Custody Services | 56,664 | 83,198 | 173,789 | 156,575 | ||
Amount Waived | 0 | 0 | 0 | 14,164 | ||
Distribution Services [Member] | Related Party [Member] | ||||||
Amount Waived | 1,835 | 2,739 | [1] | 6,771 | 45,733 | [1] |
Amount Recognized for Distribution Services | 35,012 | 53,835 | [1] | 111,505 | 147,890 | [1] |
Distribution Services [Member] | Teucrium Wheat Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 14,931 | ||
Amount Recognized for Distribution Services | 17,900 | 30,177 | 58,623 | 72,723 | ||
Wilmington Trust Company [Member] | Related Party [Member] | ||||||
Amount Waived | 171 | 550 | [1] | 171 | 550 | [1] |
Amount Recognized for Wilmington Trust | 3,300 | 3,300 | [1] | 3,300 | 3,300 | [1] |
Wilmington Trust Company [Member] | Teucrium Wheat Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 0 | ||
Amount Recognized for Wilmington Trust | 1,720 | 550 | 1,720 | 550 | ||
Thales Capital Partners LLC [Member] | Related Party [Member] | ||||||
Amount Waived | 3,108 | 2,605 | [1] | 5,367 | 103,396 | [1] |
Amount Recognized for Distribution Services | 54,612 | 54,755 | [1] | 92,190 | 212,879 | [1] |
Thales Capital Partners LLC [Member] | Teucrium Wheat Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 0 | 0 | 0 | 66,481 | ||
Amount Recognized for Distribution Services | $ 28,348 | $ 31,037 | $ 48,338 | $ 97,518 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_35
Note 3 - Summary of Significant Accounting Policies - Teucrium Wheat Fund (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Open Tax Year | 2020 2021 2022 | ||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0 | $ 0 | $ 0 | $ 0 | |||
Teucrium Wheat Fund [Member] | |||||||
Open Tax Year | 2020 2021 2022 | ||||||
Unrecognized Tax Benefits, Ending Balance | 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | $ 0 | $ 0 | |||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | 25,000 | |||||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 25,000 | 25,000 | |||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | 50,000 | |||||
Minimum Number of RedemptionBaskets | 2 | 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 ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Brokerage Commissions | $ 71,113 | $ 142,699 | $ 172,849 | $ 597,559 | ||
Teucrium Wheat Fund [Member] | ||||||
Brokerage Commissions | $ 40,896 | $ 75,136 | $ 85,354 | $ 354,679 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_37
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents - Teucrium Wheat Fund (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Money Market Funds | $ 147,921,285 | $ 188,640,417 |
Demand Deposit Savings Accounts | 28,763,367 | 46,061,819 |
Commercial Paper | 145,852,514 | 199,360,060 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | 322,537,166 | 434,062,296 |
Teucrium Wheat Fund [Member] | ||
Money Market Funds | 97,737,162 | 99,826,276 |
Demand Deposit Savings Accounts | 10,097,641 | 12,309,984 |
Commercial Paper | 74,701,941 | 97,594,565 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 182,536,744 | $ 209,730,825 |
Note 3 - Summary of Signific_38
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions - Teucrium Wheat Fund (Details) - Related Party [Member] - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Recognized Related Party Transactions | $ 566,723 | $ 638,361 | [1] | $ 1,889,702 | $ 2,055,991 | [1] |
Waived Related Party Transactions | 1,347 | 19,090 | [1] | 70,069 | 498,171 | [1] |
Teucrium Wheat Fund [Member] | ||||||
Recognized Related Party Transactions | 288,121 | 358,130 | 983,183 | 1,011,184 | ||
Waived Related Party Transactions | $ 0 | $ 0 | $ 0 | $ 224,587 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_39
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor - Teucrium Wheat Fund (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Expenses waived by the Sponsor | $ 168,505 | $ 62,609 | $ 578,373 | $ 1,115,590 | ||
Teucrium Wheat Fund [Member] | ||||||
Expenses waived by the Sponsor | $ 0 | $ 0 | $ 0 | $ 425,164 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 4 - Fair Value Measurem_19
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Wheat Fund (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Cash Equivalents | $ 293,773,799 | $ 388,000,477 |
Commodity and Cryptocurrency Futures Contracts | 25,923,738 | 29,433,069 |
Total | 295,794,506 | 396,207,858 |
Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 23,185,502 | 26,380,838 |
Commodity and Cryptocurrency Futures Contracts | 3,160,732 | |
Teucrium Wheat Fund [Member] | ||
Cash Equivalents | 172,439,103 | 197,420,841 |
Total | 200,581,573 | |
Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 23,185,502 | 26,380,838 |
Commodity and Cryptocurrency Futures Contracts | 3,160,732 | |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 293,773,799 | 388,000,477 |
Commodity and Cryptocurrency Futures Contracts | 25,923,738 | 29,433,069 |
Total | 295,794,506 | 396,207,858 |
Fair Value, Inputs, Level 1 [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 23,185,502 | 26,380,838 |
Commodity and Cryptocurrency Futures Contracts | 3,160,732 | |
Fair Value, Inputs, Level 1 [Member] | Teucrium Wheat Fund [Member] | ||
Cash Equivalents | 172,439,103 | 197,420,841 |
Total | 200,581,573 | |
Fair Value, Inputs, Level 1 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 23,185,502 | 26,380,838 |
Commodity and Cryptocurrency Futures Contracts | 3,160,732 | |
Fair Value, Inputs, Level 2 [Member] | ||
Cash Equivalents | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Total | 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 | |
Fair Value, Inputs, Level 2 [Member] | Teucrium Wheat Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 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 | |
Fair Value, Inputs, Level 3 [Member] | ||
Cash Equivalents | 0 | 0 |
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Total | 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 | |
Fair Value, Inputs, Level 3 [Member] | Teucrium Wheat Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 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 |
Note 5 - Derivative Instrume_25
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Wheat Fund (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Derivative, Average Notional Amount | $ 352.7 | $ 662.8 | $ 353.3 | $ 611.7 |
Teucrium Wheat Fund [Member] | ||||
Derivative, Average Notional Amount | $ 196.1 | $ 356.1 | $ 180.5 | $ 318.9 |
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 ($) | Sep. 30, 2023 | Dec. 31, 2022 | |
Derivative liabilities | $ 25,923,738 | $ 29,433,069 | |
Wheat Futures Contracts [Member] | |||
Gross amount of recognized liabilities | 23,185,502 | 26,380,838 | |
Gross amount offset, liabilities | 0 | 0 | |
Derivative liabilities | 23,185,502 | 26,380,838 | |
Futures contracts available for offset, liabilities | 0 | 3,160,732 | |
Collateral, due from broker, liabilities | [1] | 23,185,502 | 23,220,106 |
Net amount, liabilities | 0 | 0 | |
Gross amount of recognized assets | 3,160,732 | ||
Gross amount offset, assets | 0 | ||
Derivative asset | 3,160,732 | ||
Available for offset, assets | 3,160,732 | ||
Collateral, due to broker, assets | 0 | ||
Net amount, assets | 0 | ||
Wheat Futures Contracts [Member] | Teucrium Wheat Fund [Member] | |||
Gross amount of recognized liabilities | 23,185,502 | 26,380,838 | |
Gross amount offset, liabilities | 0 | 0 | |
Derivative liabilities | 23,185,502 | 26,380,838 | |
Futures contracts available for offset, liabilities | 0 | 3,160,732 | |
Collateral, due from broker, liabilities | [1] | 23,185,502 | 23,220,106 |
Net amount, liabilities | $ 0 | 0 | |
Gross amount of recognized assets | 3,160,732 | ||
Gross amount offset, assets | 0 | ||
Derivative asset | 3,160,732 | ||
Available for offset, assets | 3,160,732 | ||
Collateral, due to broker, assets | 0 | ||
Net amount, assets | $ 0 | ||
[1]The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not include the excess collateral pledged. |
Note 5 - Derivative Instrume_27
Note 5 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) on Derivative Instruments - Teucrium Wheat Fund (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Realized Gain on Commodity Futures Contracts | $ (42,896,164) | $ (103,278,313) | [1],[2] | $ (85,437,409) | $ (14,666,473) | [1] |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 11,792,810 | 112,241,847 | [1],[2] | (2,677,343) | (15,553,587) | [1],[2] |
Teucrium Wheat Fund [Member] | ||||||
Realized Gain on Commodity Futures Contracts | (32,283,536) | (92,957,415) | (72,771,330) | (53,537,910) | ||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 166,327 | 93,269,812 | 34,604 | (3,790,712) | ||
Wheat Futures Contracts [Member] | ||||||
Realized Gain on Commodity Futures Contracts | (32,283,536) | (92,957,415) | [1] | (72,771,330) | (53,537,910) | [1] |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 166,327 | 93,269,812 | [1] | 34,604 | (3,790,712) | [1] |
Wheat Futures Contracts [Member] | Teucrium Wheat Fund [Member] | ||||||
Realized Gain on Commodity Futures Contracts | (32,283,536) | (92,957,415) | (72,771,330) | (53,537,910) | ||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ 166,327 | $ 93,269,812 | $ 34,604 | $ (3,790,712) | ||
[1]The Fund commenced operations on September 15, 2022.[2]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net asset value per share at beginning of period (in dollars per share) | $ 6.46 | $ 9.03 | $ 7.99 | $ 7.38 |
Income from investment operations: | ||||
Investment income (in dollars per share) | 0.08 | 0.04 | 0.23 | 0.07 |
Net realized and unrealized (loss) gain on commodity futures contracts (in dollars per share) | (0.93) | 0.13 | (2.52) | 1.83 |
Total expenses, net (in dollars per share) | (0.04) | (0.04) | (0.13) | (0.12) |
Net (decrease) increase in net asset value (in dollars per share) | (0.89) | 0.13 | (2.42) | 1.78 |
Net asset value per share at end of period (in dollars per share) | $ 5.57 | $ 9.16 | $ 5.57 | $ 9.16 |
Total Return | (13.81%) | 1.44% | (30.25%) | 24.20% |
Ratios to Average Net Assets (Annualized) | ||||
Total expenses | 2.68% | 2.02% | 2.67% | 1.84% |
Total expenses, net | 2.68% | 2.02% | 2.67% | 1.69% |
Net investment income (loss) | 2.50% | 0.01% | 2.13% | (0.63%) |
Schedule of Investments (Una_17
Schedule of Investments (Unaudited) - Investments - Teucrium Agricultural Fund (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 | |
Teucrium Agricultural Fund [Member] | |||
Fair value | $ 21,975,907 | $ 39,572,698 | |
Cost | 22,841,003 | 39,425,287 | |
Exchange Traded Funds [Member] | |||
Fair value | [1] | $ 21,975,907 | $ 39,572,698 |
Percentage of net assets | [1] | 6.43% | 8.49% |
Cost | [1] | $ 22,841,003 | $ 39,425,287 |
Exchange Traded Funds [Member] | Teucrium Corn Fund [Member] | |||
Fair value | $ 5,670,302 | $ 9,885,980 | |
Percentage of net assets | 25.79% | 24.97% | |
Shares (in shares) | 257,033 | 367,555 | |
Exchange Traded Funds [Member] | Teucrium Soybean Fund [Member] | |||
Fair value | $ 5,503,425 | $ 9,921,042 | |
Percentage of net assets | 25.03% | 25.07% | |
Shares (in shares) | 203,005 | 348,075 | |
Exchange Traded Funds [Member] | Teucrium Sugar Fund [Member] | |||
Fair value | $ 5,479,366 | $ 9,745,653 | |
Percentage of net assets | 24.92% | 24.63% | |
Shares (in shares) | 371,271 | 1,024,284 | |
Exchange Traded Funds [Member] | Teucrium Wheat Fund [Member] | |||
Fair value | $ 5,322,814 | $ 10,020,023 | |
Percentage of net assets | 24.21% | 25.32% | |
Shares (in shares) | 955,742 | 1,254,840 | |
Exchange Traded Funds [Member] | Teucrium Agricultural Fund [Member] | |||
Fair value | $ 21,975,907 | $ 39,572,698 | |
Percentage of net assets | 99.95% | 99.99% | |
Cost | $ 22,841,003 | $ 39,425,287 | |
Money Market Funds [Member] | |||
Fair value | $ 147,921,285 | $ 188,640,417 | |
Percentage of net assets | 43.30% | 40.54% | |
Cost | $ 147,921,285 | $ 188,640,417 | |
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | |||
Fair value | $ 28,382,122 | ||
Percentage of net assets | 6.10% | ||
Shares (in shares) | 28,382,122 | ||
Cost | $ 28,382,122 | ||
Index | 4.105% | ||
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | |||
Fair value | $ 70,144,326 | ||
Percentage of net assets | 20.53% | ||
Shares (in shares) | 70,144,326 | ||
Cost | $ 70,144,326 | ||
Index | 5.27% | ||
Money Market Funds [Member] | Teucrium Corn Fund [Member] | |||
Fair value | $ 30,418,637 | $ 52,555,915 | |
Percentage of net assets | 33.63% | 34.43% | |
Cost | $ 30,418,637 | $ 52,555,915 | |
Money Market Funds [Member] | Teucrium Corn Fund [Member] | First American Government Obligations Fund - Class X [Member] | |||
Fair value | $ 3,498,444 | ||
Percentage of net assets | 2.29% | ||
Shares (in shares) | 3,498,444 | ||
Cost | $ 3,498,444 | ||
Index | 4.105% | ||
Money Market Funds [Member] | Teucrium Corn Fund [Member] | U.S. Bank Deposit Account [Member] | |||
Fair value | $ 17,048,020 | ||
Percentage of net assets | 18.85% | ||
Shares (in shares) | 17,048,020 | ||
Cost | $ 17,048,020 | ||
Index | 5.27% | ||
Money Market Funds [Member] | Teucrium Soybean Fund [Member] | |||
Fair value | $ 7,646,258 | $ 25,631,042 | |
Percentage of net assets | 24.52% | 43.87% | |
Cost | $ 7,646,258 | $ 25,631,042 | |
Money Market Funds [Member] | Teucrium Soybean Fund [Member] | First American Government Obligations Fund - Class X [Member] | |||
Fair value | $ 10,287,270 | ||
Percentage of net assets | 17.61% | ||
Shares (in shares) | 10,287,270 | ||
Cost | $ 10,287,270 | ||
Index | 4.105% | ||
Money Market Funds [Member] | Teucrium Soybean Fund [Member] | U.S. Bank Deposit Account [Member] | |||
Fair value | $ 1,775,025 | ||
Percentage of net assets | 5.69% | ||
Shares (in shares) | 1,775,025 | ||
Cost | $ 1,775,025 | ||
Index | 5.27% | ||
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | |||
Fair value | $ 10,927,247 | $ 9,920,499 | |
Percentage of net assets | 44.87% | 40.89% | |
Cost | $ 10,927,247 | $ 9,920,499 | |
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | First American Government Obligations Fund - Class X [Member] | |||
Fair value | $ 5,634,177 | ||
Percentage of net assets | 23.22% | ||
Shares (in shares) | 5,634,177 | ||
Cost | $ 5,634,177 | ||
Index | 4.105% | ||
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | U.S. Bank Deposit Account [Member] | |||
Fair value | $ 7,060,230 | ||
Percentage of net assets | 28.99% | ||
Shares (in shares) | 7,060,230 | ||
Cost | $ 7,060,230 | ||
Index | 5.27% | ||
Money Market Funds [Member] | Teucrium Wheat Fund [Member] | |||
Fair value | $ 97,737,162 | $ 99,826,276 | |
Percentage of net assets | 50.40% | 43.60% | |
Cost | $ 97,737,162 | $ 99,826,276 | |
Money Market Funds [Member] | Teucrium Wheat Fund [Member] | First American Government Obligations Fund - Class X [Member] | |||
Fair value | $ 8,255,546 | ||
Percentage of net assets | 3.61% | ||
Shares (in shares) | 8,255,546 | ||
Cost | $ 8,255,546 | ||
Index | 4.105% | ||
Money Market Funds [Member] | Teucrium Wheat Fund [Member] | U.S. Bank Deposit Account [Member] | |||
Fair value | $ 43,069,070 | ||
Percentage of net assets | 22.21% | ||
Shares (in shares) | 43,069,070 | ||
Cost | $ 43,069,070 | ||
Index | 5.27% | ||
Money Market Funds [Member] | Teucrium Agricultural Fund [Member] | First American Government Obligations Fund - Class X [Member] | |||
Fair value | $ 4,716 | ||
Percentage of net assets | 0.01% | ||
Shares (in shares) | 4,716 | ||
Cost | $ 4,716 | ||
Index | 4.105% | ||
Money Market Funds [Member] | Teucrium Agricultural Fund [Member] | U.S. Bank Deposit Account [Member] | |||
Fair value | $ 10,159 | ||
Percentage of net assets | 0.05% | ||
Shares (in shares) | 10,159 | ||
Cost | $ 10,159 | ||
Index | 5.27% | ||
[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) | 9 Months Ended | ||||||||||
Mar. 27, 2012 USD ($) $ / shares shares | Sep. 19, 2011 USD ($) $ / shares shares | Sep. 16, 2011 USD ($) shares | Jun. 08, 2010 USD ($) shares | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) shares | Dec. 31, 2022 shares | Feb. 10, 2012 shares | Dec. 31, 2011 shares | Jun. 13, 2011 shares | ||
Stock Issued During Period, Value, New Issues | $ | $ 140,135,089 | $ 1,216,204,797 | [1] | ||||||||
Teucrium Agricultural Fund [Member] | |||||||||||
Common Stock, Shares Authorized (in shares) | 5,000,000 | ||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 300,000 | 0 | 1,362,500 | ||||||||
Stock Issued During Period, Value, New Issues | $ | $ 15,000,000 | $ 0 | $ 45,566,391 | ||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 50 | ||||||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 725,002 | 1,262,502 | 2 | ||||||||
Number of Agricultural Commodity Pools | 4 | ||||||||||
Underlying Fund Average, Weighting to Each Fund | 25% | ||||||||||
Teucrium Corn Fund [Member] | |||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 200,000 | 800,000 | 7,500,000 | ||||||||
Stock Issued During Period, Value, New Issues | $ | $ 5,000,000 | $ 19,420,213 | $ 204,322,783 | ||||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 4,100,004 | 5,675,004 | |||||||||
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) | 10,000,000 | ||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 100,000 | 100,000 | 14,200,000 | 84,050,000 | |||||||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 2,500,000 | $ 92,347,622 | $ 885,427,575 | |||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 25 | ||||||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 34,825,004 | 28,675,004 | |||||||||
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] | |||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 100,000 | 350,000 | 1,950,000 | ||||||||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 9,394,540 | $ 53,625,065 | ||||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 1,150,004 | 2,050,004 | |||||||||
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] | |||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 100,000 | 1,525,000 | 2,675,000 | ||||||||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 18,605,025 | $ 26,012,883 | ||||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 1,650,004 | 2,550,004 | |||||||||
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% | ||||||||||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 1 - Organization and Op_24
Note 1 - Organization and Operation - Benchmark - Teucrium Agricultural Fund (Details) - Teucrium Agricultural Fund [Member] | Sep. 30, 2023 |
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) | 9 Months Ended |
Sep. 30, 2023 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 | 3 |
Marex Capital Markets, Inc [Member] | Brokerage Commissions [Member] | Teucrium Agricultural Fund [Member] | |
Related Party Transaction, Fee Per Round Turn | 3 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Fee Per Round Turn | $ 2.5 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 16.50% |
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 | $ 2.5 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 16.50% |
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 ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Amount Recognized for Custody Services | $ 115,736 | $ 151,161 | [1] | $ 333,733 | $ 280,651 | [1] |
Amount Recognized for Distribution Services | 1,024,521 | 1,170,838 | [1] | 2,928,637 | 3,058,779 | [1] |
Amount Recognized for Wilmington Trust | 42,299 | 17,473 | [1] | 113,427 | 114,848 | [1] |
Related Party [Member] | ||||||
Amount Waived | 1,347 | 19,090 | [1] | 70,069 | 498,171 | [1] |
Teucrium Agricultural Fund [Member] | ||||||
Amount Recognized for Custody Services | 3,942 | 7,455 | 19,341 | 12,324 | ||
Amount Recognized for Distribution Services | 40,140 | 51,970 | 142,674 | 134,119 | ||
Amount Recognized for Wilmington Trust | 1,805 | 1,000 | 12,240 | 11,721 | ||
Teucrium Agricultural Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 1,347 | 19,090 | 70,069 | 66,068 | ||
Custody Services [Member] | Related Party [Member] | ||||||
Amount Recognized for Custody Services | 115,736 | 151,161 | [1] | 333,733 | 280,651 | [1] |
Amount Waived | 3,360 | 7,455 | [1] | 19,876 | 35,556 | [1] |
Custody Services [Member] | Teucrium Agricultural Fund [Member] | Related Party [Member] | ||||||
Amount Recognized for Custody Services | 3,942 | 7,455 | 19,341 | 12,324 | ||
Amount Waived | 2,750 | 7,455 | 18,149 | 12,324 | ||
Distribution Services [Member] | Related Party [Member] | ||||||
Amount Waived | 1,835 | 2,739 | [1] | 6,771 | 45,733 | [1] |
Amount Recognized for Distribution Services | 35,012 | 53,835 | [1] | 111,505 | 147,890 | [1] |
Distribution Services [Member] | Teucrium Agricultural Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 1,619 | 2,739 | 6,271 | 6,499 | ||
Amount Recognized for Distribution Services | 1,619 | 2,739 | 6,271 | 6,499 | ||
Wilmington Trust Company [Member] | Related Party [Member] | ||||||
Amount Waived | 171 | 550 | [1] | 171 | 550 | [1] |
Amount Recognized for Wilmington Trust | 3,300 | 3,300 | [1] | 3,300 | 3,300 | [1] |
Wilmington Trust Company [Member] | Teucrium Agricultural Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 145 | 0 | 145 | 0 | ||
Amount Recognized for Wilmington Trust | 145 | 550 | 145 | 550 | ||
Thales Capital Partners LLC [Member] | Related Party [Member] | ||||||
Amount Waived | 3,108 | 2,605 | [1] | 5,367 | 103,396 | [1] |
Amount Recognized for Distribution Services | 54,612 | 54,755 | [1] | 92,190 | 212,879 | [1] |
Thales Capital Partners LLC [Member] | Teucrium Agricultural Fund [Member] | Related Party [Member] | ||||||
Amount Waived | 3,108 | 2,605 | 5,367 | 5,295 | ||
Amount Recognized for Distribution Services | $ 3,108 | $ 2,745 | $ 5,367 | $ 9,000 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_40
Note 3 - Summary of Significant Accounting Policies - Teucrium Agricultural Fund (Details Textual) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Aug. 28, 2018 shares | Aug. 27, 2018 shares | |
Open Tax Year | 2020 2021 2022 | ||||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0 | $ 0 | 0 | $ 0 | |||||
Money Market Funds, at Carrying Value | 147,921,285 | $ 147,921,285 | 188,640,417 | ||||||
Teucrium Agricultural Fund [Member] | |||||||||
Open Tax Year | 2020 2021 2022 | ||||||||
Unrecognized Tax Benefits, Ending Balance | 0 | $ 0 | 0 | $ 0 | $ 0 | ||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | $ 0 | $ 0 | |||||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 12,500 | 12,500 | 12,500 | 25,000 | |||||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 12,500 | 12,500 | |||||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | 50,000 | |||||||
Minimum Number of RedemptionBaskets | 4 | 4 | |||||||
Money Market Funds, at Carrying Value | $ 10,159 | $ 10,159 | $ 4,716 | ||||||
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) - Related Party [Member] - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Recognized Related Party Transactions | $ 566,723 | $ 638,361 | [1] | $ 1,889,702 | $ 2,055,991 | [1] |
Waived Related Party Transactions | 1,347 | 19,090 | [1] | 70,069 | 498,171 | [1] |
Teucrium Agricultural Fund [Member] | ||||||
Recognized Related Party Transactions | 26,482 | 32,419 | 105,812 | 90,610 | ||
Waived Related Party Transactions | $ 1,347 | $ 19,090 | $ 70,069 | $ 66,068 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_42
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor - Teucrium Agricultural Fund (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Expenses waived by the Sponsor | $ 168,505 | $ 62,609 | $ 578,373 | $ 1,115,590 | ||
Teucrium Agricultural Fund [Member] | ||||||
Expenses waived by the Sponsor | $ 77,482 | $ 62,059 | $ 355,731 | $ 176,222 | ||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 4 - Fair Value Measurem_20
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Agricultural Fund (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Cash Equivalents | $ 293,773,799 | $ 388,000,477 |
Total | 295,794,506 | 396,207,858 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 293,773,799 | 388,000,477 |
Total | 295,794,506 | 396,207,858 |
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 | 21,975,907 | 39,572,698 |
Cash Equivalents | 10,159 | 4,716 |
Total | 21,986,066 | 39,577,414 |
Teucrium Agricultural Fund [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Exchange Traded Funds | 21,975,907 | 39,572,698 |
Cash Equivalents | 10,159 | 4,716 |
Total | 21,986,066 | 39,577,414 |
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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net asset value per share at beginning of period (in dollars per share) | $ 30.33 | $ 31.09 | $ 31.35 | $ 27.01 |
Income from investment operations: | ||||
Net realized and unrealized (loss) gain on commodity futures contracts (in dollars per share) | 0 | (0.01) | (1) | 4.09 |
Total expenses, net (in dollars per share) | 0 | (0.01) | (0.02) | (0.03) |
Net (decrease) increase in net asset value (in dollars per share) | 0 | (0.02) | (1.02) | 4.06 |
Net asset value per share at end of period (in dollars per share) | $ 30.33 | $ 31.07 | $ 30.33 | $ 31.07 |
Total Return | (0.02%) | (0.05%) | (3.25%) | 15.04% |
Ratios to Average Net Assets (Annualized) | ||||
Total expenses | 1.42% | 0.66% | 1.67% | 0.80% |
Total expenses, net | 0.09% | 0.13% | 0.09% | 0.14% |
Net investment income (loss) | (0.09%) | (0.13%) | (0.09%) | (0.14%) |
Schedule of Investments (Una_18
Schedule of Investments (Unaudited) - Investments - Hashdex Bitcoin Futures ETF (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Fair value | $ 19,483 | $ 29,152 |
Percentage of net assets | 1.17% | 2.72% |
Notional amount, asset | $ 1,631,250 | $ 1,071,625 |
Money Market Funds [Member] | ||
Cost | 147,921,285 | 188,640,417 |
Fair value | $ 147,921,285 | $ 188,640,417 |
Percentage of net assets | 43.30% | 40.54% |
Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 4.105% | |
Cost | $ 28,382,122 | |
Fair value | $ 28,382,122 | |
Percentage of net assets | 6.10% | |
Shares (in shares) | 28,382,122 | |
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 | |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.27% | |
Cost | $ 70,144,326 | |
Fair value | $ 70,144,326 | |
Percentage of net assets | 20.53% | |
Shares (in shares) | 70,144,326 | |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Index | 5.27% | |
Cost | $ 1,181,822 | |
Fair value | $ 1,181,822 | |
Percentage of net assets | 70.68% | |
Shares (in shares) | 1,181,822 | |
CME Bitcoin Futures JAN23 [Member] | Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Fair value | $ 24,979 | |
Percentage of net assets | 2.33% | |
Number of contracts | 6 | |
Notional amount, asset | $ 496,050 | |
CME Bitcoin Futures FEB23 [Member] | Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Fair value | $ 4,173 | |
Percentage of net assets | 0.39% | |
Number of contracts | 7 | |
Notional amount, asset | $ 575,575 | |
CME Bitcoin Futures OCT23 [Member] | Bitcoin Futures Contracts [Member] | ||
Fair value | $ 2,464 | |
Percentage of net assets | 0% | |
Number of contracts | 6 | |
Notional amount, asset | $ 813,000 | |
CME Bitcoin Futures OCT23 [Member] | Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Fair value | $ 2,464 | |
Percentage of net assets | 0.15% | |
Number of contracts | 6 | |
Notional amount, asset | $ 813,000 | |
CME Bitcoin futures NOV23 [Member] | Bitcoin Futures Contracts [Member] | ||
Percentage of net assets | 0% | |
Notional amount, asset | $ 818,250 | |
CME Bitcoin futures NOV23 [Member] | Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Fair value | $ 17,019 | |
Percentage of net assets | 1.02% | |
Number of contracts | 6 | |
Notional amount, asset | $ 818,250 |
Note 1 - Organization and Op_25
Note 1 - Organization and Operation - Hashdex Bitcoin Futures ETF (Details Textual) | 1 Months Ended | 9 Months Ended | |||
Sep. 15, 2022 USD ($) $ / shares shares | Sep. 30, 2022 USD ($) shares | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | [1] | |
Stock Issued During Period, Value, New Issues | $ 140,135,089 | $ 1,216,204,797 | |||
Hashdex Bitcoin Futures ETF [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 50,000 | 50,004 | 10,000 | ||
Stock Issued During Period, Value, New Issues | $ 1,250,000 | $ 1,250,100 | $ 367,689 | ||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 25 | ||||
Number of Futures Contracts Offered | 2 | ||||
Hashdex Bitcoin Futures ETF [Member] | BTC Contracts [Member] | |||||
Number of Bitcoin in Contract | 5 | ||||
Hashdex Bitcoin Futures ETF [Member] | MBT Contracts [Member] | |||||
Number of Bitcoin in Contract | 0.1 | ||||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
Note 1 - Organization and Op_26
Note 1 - Organization and Operation - Benchmark - Hashdex Bitcoin Futures ETF (Details) - Hashdex Bitcoin Futures ETF [Member] | Sep. 30, 2023 |
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) | 9 Months Ended |
Sep. 30, 2023 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 |
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 |
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] | 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 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 16.50% |
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 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | Hashdex Bitcoin Futures ETF [Member] | Minimum [Member] | |
Related Party Transaction, Fee Per Half Turn | 10 |
StoneX Financial Inc [Member] | Brokerage Commissions [Member] | Hashdex Bitcoin Futures ETF [Member] | Maximum [Member] | |
Related Party Transaction, Fee Per Half Turn | $ 25 |
Related Party Transaction, Minimum Percentage of Return, Monthly Commissions | 16.50% |
Related Party Transaction, Exchange Maintenance Margin | 9.60% |
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 |
Phillip Capital Inc [Member] | Brokerage Commissions [Member] | Hashdex Bitcoin Futures ETF [Member] | Minimum [Member] | |
Related Party Transaction, Fee Per Half Turn | 35 |
Phillip Capital Inc [Member] | Brokerage Commissions [Member] | Hashdex Bitcoin Futures ETF [Member] | Maximum [Member] | |
Related Party Transaction, Fee Per Half Turn | 45 |
Wilmington Trust Company [Member] | |
Related Party Transaction, Annual Fee | 3,300 |
Wilmington Trust Company [Member] | Hashdex Bitcoin Futures ETF [Member] | |
Related Party Transaction, Annual Fee | $ 3,300 |
Note 2 - Principal Contracts_28
Note 2 - Principal Contracts and Agreements - Summary of Expenses - Hashdex Bitcoin Futures ETF (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |||
Amount Recognized for Custody Services | $ 115,736 | $ 151,161 | [1] | $ 333,733 | $ 280,651 | [1] | |
Amount Recognized for Distribution Services | 1,024,521 | 1,170,838 | [1] | 2,928,637 | 3,058,779 | [1] | |
Amount Recognized for Wilmington Trust | 42,299 | 17,473 | [1] | 113,427 | 114,848 | [1] | |
Related Party [Member] | |||||||
Amount Waived | 1,347 | 19,090 | [1] | 70,069 | 498,171 | [1] | |
Hashdex Bitcoin Futures ETF [Member] | |||||||
Amount Recognized for Custody Services | $ 0 | 610 | 1,727 | ||||
Amount Recognized for Distribution Services | 0 | 1,845 | 6,586 | ||||
Amount Recognized for Wilmington Trust | $ 550 | 1,026 | 17,187 | ||||
Custody Services [Member] | Related Party [Member] | |||||||
Amount Recognized for Custody Services | 115,736 | 151,161 | [1] | 333,733 | 280,651 | [1] | |
Amount Waived | 3,360 | 7,455 | [1] | 19,876 | 35,556 | [1] | |
Custody Services [Member] | Hashdex Bitcoin Futures ETF [Member] | Related Party [Member] | |||||||
Amount Recognized for Custody Services | 610 | 0 | [2] | 1,727 | 0 | [2] | |
Amount Waived | 610 | 0 | [2] | 1,727 | 0 | [2] | |
Distribution Services [Member] | Related Party [Member] | |||||||
Amount Waived | 1,835 | 2,739 | [1] | 6,771 | 45,733 | [1] | |
Amount Recognized for Distribution Services | 35,012 | 53,835 | [1] | 111,505 | 147,890 | [1] | |
Distribution Services [Member] | Hashdex Bitcoin Futures ETF [Member] | Related Party [Member] | |||||||
Amount Waived | 216 | 0 | [2] | 500 | 0 | [2] | |
Amount Recognized for Distribution Services | 216 | 0 | [2] | 500 | 0 | [2] | |
Wilmington Trust Company [Member] | Related Party [Member] | |||||||
Amount Waived | 171 | 550 | [1] | 171 | 550 | [1] | |
Amount Recognized for Wilmington Trust | 3,300 | 3,300 | [1] | 3,300 | 3,300 | [1] | |
Wilmington Trust Company [Member] | Hashdex Bitcoin Futures ETF [Member] | Related Party [Member] | |||||||
Amount Waived | 26 | 550 | [2] | 26 | 550 | [2] | |
Amount Recognized for Wilmington Trust | $ 26 | $ 550 | [2] | $ 26 | $ 550 | [2] | |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022.[2]The Fund commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_43
Note 3 - Summary of Significant Accounting Policies - Hashdex Bitcoin Futures ETF (Details Textual) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0 | $ 0 | 0 | $ 0 | |||
Money Market Funds, at Carrying Value | 147,921,285 | 147,921,285 | 188,640,417 | ||||
Hashdex Bitcoin Futures ETF [Member] | |||||||
Unrecognized Tax Benefits, Ending Balance | $ 0 | 0 | 0 | ||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 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 | $ 1,181,822 | $ 1,181,822 | $ 701,969 | ||||
Hashdex Bitcoin Futures ETF [Member] | Teucrium Trading, LLC [Member] | |||||||
Management Fee, Percentage of Average Daily Net Assets | 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 ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Brokerage Commissions | $ 71,113 | $ 142,699 | $ 172,849 | $ 597,559 | ||
Hashdex Bitcoin Futures ETF [Member] | ||||||
Brokerage Commissions | $ 593 | $ 949 | [2] | $ 1,970 | $ 949 | [2] |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022.[2]The Fund commenced operations on September 15, 2022. |
Note 3 - Summary of Signific_45
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor - Hashdex Bitcoin Futures ETF (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Expenses waived by the Sponsor | $ 168,505 | $ 62,609 | $ 578,373 | $ 1,115,590 | ||
Hashdex Bitcoin Futures ETF [Member] | ||||||
Expenses waived by the Sponsor | $ 91,023 | $ 550 | [2] | $ 222,642 | $ 550 | [2] |
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022.[2]The Fund commenced operations on September 15, 2022. |
Note 4 - Fair Value Measurem_21
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Hashdex Bitcoin Futures ETF (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Cash Equivalents | $ 293,773,799 | $ 388,000,477 |
Total | 295,794,506 | 396,207,858 |
Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 19,483 | 29,152 |
Hashdex Bitcoin Futures ETF [Member] | ||
Cash Equivalents | 1,181,822 | 701,969 |
Total | 1,201,305 | 731,121 |
Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 19,483 | 29,152 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 293,773,799 | 388,000,477 |
Total | 295,794,506 | 396,207,858 |
Fair Value, Inputs, Level 1 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 19,483 | 29,152 |
Fair Value, Inputs, Level 1 [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Cash Equivalents | 1,181,822 | 701,969 |
Total | 1,201,305 | 731,121 |
Fair Value, Inputs, Level 1 [Member] | Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 19,483 | 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 | 0 |
Fair Value, Inputs, Level 2 [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Hashdex Bitcoin Futures ETF [Member] | Bitcoin 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] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | $ 0 | $ 0 |
Note 5 - Derivative Instrume_28
Note 5 - Derivative Instruments and Hedging Activities - Hashdex Bitcoin Futures ETF (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Derivative, Average Notional Amount | $ 352.7 | $ 662.8 | $ 353.3 | $ 611.7 | |
Hashdex Bitcoin Futures ETF [Member] | |||||
Derivative, Average Notional Amount | $ 1.2 | $ 1.7 | $ 1.8 |
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] - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 | |
Gross amount of recognized assets | $ 19,483 | $ 29,152 | |
Gross amount offset, assets | 0 | 0 | |
Derivative asset | 19,483 | 29,152 | |
Available for offset, assets | 0 | 0 | |
Collateral, due to broker, assets | 0 | 0 | |
Net amount, assets | 19,483 | 29,152 | |
Available for offset, assets | 0 | 0 | |
Hashdex Bitcoin Futures ETF [Member] | |||
Gross amount of recognized assets | 19,483 | 29,152 | |
Gross amount offset, assets | 0 | 0 | |
Derivative asset | 19,483 | 29,152 | |
Available for offset, assets | 0 | 0 | |
Collateral, due to broker, assets | 0 | 0 | [1] |
Net amount, assets | 19,483 | 29,152 | |
Available for offset, assets | $ 0 | $ 0 | |
[1]The amount of collateral presented in Collateral, Due from Broker, is limited to the liability for the futures contracts and accordingly does not include the excess collateral pledged. |
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 ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||||
Sep. 30, 2022 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | [1] | Sep. 30, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Realized Gain on Commodity Futures Contracts | $ (42,896,164) | $ (103,278,313) | [2] | $ (85,437,409) | $ (14,666,473) | ||||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 11,792,810 | 112,241,847 | [2] | (2,677,343) | (15,553,587) | [2] | |||
Hashdex Bitcoin Futures ETF [Member] | |||||||||
Realized Gain on Commodity Futures Contracts | $ (5,942) | (176,608) | 524,179 | ||||||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ (14,372) | (107,189) | (9,669) | ||||||
Bitcoin Futures Contracts [Member] | |||||||||
Realized Gain on Commodity Futures Contracts | (176,608) | (5,942) | 524,179 | (5,942) | |||||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ (107,189) | $ (14,372) | (9,669) | $ (14,372) | |||||
Bitcoin Futures Contracts [Member] | Hashdex Bitcoin Futures ETF [Member] | |||||||||
Realized Gain on Commodity Futures Contracts | $ (5,942) | $ (176,608) | 524,179 | ||||||
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ (14,372) | $ (107,189) | $ (9,669) | ||||||
[1]The Fund commenced operations on September 15, 2022.[2]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |
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] - $ / shares | 1 Months Ended | 3 Months Ended | 9 Months Ended |
Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2023 | |
Net asset value per share at beginning of period (in dollars per share) | $ 25 | $ 38.78 | $ 21.4 |
Income from investment operations: | |||
Investment income (in dollars per share) | 0.03 | 0.42 | 1.06 |
Net realized and unrealized (loss) gain on commodity futures contracts (in dollars per share) | (0.41) | (5.68) | 11.21 |
Total expenses, net (in dollars per share) | (0.01) | (0.08) | (0.23) |
Net (decrease) increase in net asset value (in dollars per share) | (0.39) | (5.34) | 12.04 |
Net asset value per share at end of period (in dollars per share) | $ 24.61 | $ 33.44 | $ 33.44 |
Total Return | (1.57%) | (13.76%) | 56.23% |
Ratios to Average Net Assets (Annualized) | |||
Total expenses | 2.31% | 21.29% | 17.69% |
Total expenses, net | 0.94% | 0.94% | 0.94% |
Net investment income (loss) | 1.74% | 3.80% | 3.28% |
Note 8 - Subsequent Events - _5
Note 8 - Subsequent Events - Hashdex Bitcoin Futures ETF (Details Textual) - USD ($) | 1 Months Ended | 9 Months Ended | ||||
Jan. 03, 2024 | Nov. 07, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | [1] | |
Stockholders' Equity, Period Increase (Decrease) | $ (123,766,631) | $ 422,697,514 | ||||
Tidal Commodities Trust I [Member] | Forecast [Member] | ||||||
Management Fee, Percentage of Average Daily Net Assets | 0.94% | |||||
Hashdex Bitcoin Futures ETF [Member] | ||||||
Stockholders' Equity, Period Increase (Decrease) | $ 1,230,482 | $ 601,867 | ||||
Subsequent Event [Member] | Hashdex Bitcoin Futures ETF [Member] | ||||||
Stockholders' Equity, Period Increase (Decrease) | $ 539,481 | |||||
Investment Company, Net Assets, Period Increase (Decrease), Percentage | 32% | |||||
Investment Company, Net Asset Value Per Share, Period Increase (Decrease), Percentage | 32% | |||||
[1]The Hashdex Bitcoin Futures ETF commenced operations on September 15, 2022. |