Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | May 09, 2024 | |
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 | Q1 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
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 | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Shares of Teucrium Agricultural Fund [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 512,502 | |
Shares of Teucrium Wheat Fund [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 26,750,004 | |
Shares of Teucrium Soybean Fund [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 1,350,004 | |
Shares of Teucrium Sugar Fund [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 1,075,004 | |
Shares of Teucrium Corn Fund [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 3,550,004 |
Combined Statements of Assets a
Combined Statements of Assets and Liabilities (Current Period Unaudited) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Assets | ||
Cash and cash equivalents | $ 253,695,600 | $ 292,237,362 |
Interest receivable | 253,928 | 410,596 |
Other assets | 16,381 | 5,362 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 1,667,718 | 2,367,012 |
Due from broker | 41,016,750 | 30,935,806 |
Total equity in trading accounts | 42,684,468 | 33,302,818 |
Total assets | 296,650,377 | 325,956,138 |
Liabilities | ||
Management fee payable to Sponsor | 228,413 | 276,900 |
Other liabilities | 281,114 | 242,982 |
Equity in trading accounts, liabilities: | ||
Commodity and cryptocurrency futures contracts | 18,352,042 | 10,888,842 |
Total liabilities | 18,861,569 | 11,408,724 |
Net Assets | $ 277,788,808 | $ 314,547,414 |
Combined Statements of Operatio
Combined Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||
Realized loss on commodity and cryptocurrency futures contracts | $ (17,194,951) | $ (26,591,126) |
Net change in unrealized depreciation on commodity and cryptocurrency futures contracts | (7,969,968) | (5,823,279) |
Interest income | 3,704,387 | 4,331,014 |
Total loss | (21,460,532) | (28,083,391) |
Expenses | ||
Management fees | 701,923 | 989,515 |
Professional fees | 302,008 | 446,052 |
Distribution and marketing fees | 947,591 | 927,712 |
Custodian fees and expenses | 95,024 | 120,560 |
Business permits and licenses fees | 56,338 | 34,617 |
General and administrative expenses | 70,863 | 49,142 |
Other expenses | 66 | 0 |
Total expenses | 2,173,813 | 2,567,598 |
Expenses waived by the Sponsor | (131,847) | (196,064) |
Total expenses, net | 2,041,966 | 2,371,534 |
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Combined Statements of Changes
Combined Statements of Changes in Net Assets (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Operations | ||
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Capital transactions | ||
Distribution of Net Assets to Acquiring Fund | (2,574,071) | 0 |
Issuance of Shares | 13,002,447 | 17,208,235 |
Redemption of Shares | (26,854,784) | (100,669,768) |
Net change in the cost of the Underlying Funds | 3,170,300 | 5,715,382 |
Total capital transactions | (13,256,108) | (77,746,151) |
Net change in net assets | (36,758,606) | (108,201,076) |
Net assets, beginning of period | 314,547,414 | 465,375,598 |
Net assets, end of period | $ 277,788,808 | $ 357,174,522 |
Combined Statements of Cash Flo
Combined Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 7,969,968 | 5,823,279 |
Changes in operating assets and liabilities: | ||
Due from broker | (10,080,944) | 5,668,407 |
Interest receivable | 146,371 | 11,703 |
Other assets | (722) | (50,462) |
Due to broker | 0 | 2,101,900 |
Management fee payable to Sponsor | (48,487) | (122,242) |
Other liabilities | 38,132 | 61,862 |
Net cash used in operating activities | (25,478,180) | (16,960,478) |
Cash flows from financing activities: | ||
Distribution to Acquiring Fund upon consummation of merger and liquidation agreement - see Note 1 to the finanical statements | (2,381,545) | 0 |
Proceeds from sale of Shares | 13,002,447 | 18,185,376 |
Redemption of Shares | (26,854,784) | (110,853,683) |
Net change in cost of the Underlying Funds | 3,170,300 | 5,715,382 |
Net cash used in financing activities | (13,063,582) | (86,952,925) |
Net change in cash and cash equivalents | (38,541,762) | (103,913,403) |
Cash and cash equivalents beginning of period | 292,237,362 | 434,062,296 |
Cash and cash equivalents end of period | $ 253,695,600 | $ 330,148,893 |
Statements of Assets and Liabil
Statements of Assets and Liabilities (Current Period Unaudited) - Teucrium Corn Fund - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Assets | ||
Cash and cash equivalents | $ 253,695,600 | $ 292,237,362 |
Interest receivable | 253,928 | 410,596 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 1,667,718 | 2,367,012 |
Due from broker | 41,016,750 | 30,935,806 |
Total equity in trading accounts | 42,684,468 | 33,302,818 |
Total assets | 296,650,377 | 325,956,138 |
Liabilities | ||
Management fee payable to Sponsor | 228,413 | 276,900 |
Other liabilities | 281,114 | 242,982 |
Equity in trading accounts, liabilities: | ||
Total liabilities | 18,861,569 | 11,408,724 |
Net Assets | 277,788,808 | 314,547,414 |
Teucrium Corn Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 63,692,529 | 76,745,471 |
Interest receivable | 75,550 | 105,283 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 154,412 | 0 |
Due from broker | 9,899,988 | 6,533,938 |
Total equity in trading accounts | 10,054,400 | 6,533,938 |
Total assets | 73,822,479 | 83,384,692 |
Liabilities | ||
Management fee payable to Sponsor | 58,311 | 71,506 |
Other liabilities | 87,348 | 80,603 |
Equity in trading accounts, liabilities: | ||
Commodity futures contracts | 3,932,723 | 2,182,141 |
Total liabilities | 4,078,382 | 2,334,250 |
Net Assets | $ 69,744,097 | $ 81,050,442 |
Shares outstanding (in shares) | 3,450,004 | 3,750,004 |
Net asset value per share (in dollars per share) | $ 20.22 | $ 21.61 |
Market value per share (in dollars per share) | $ 20.18 | $ 21.57 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - Teucrium Corn Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||
Realized loss on commodity and cryptocurrency futures contracts | $ (17,194,951) | $ (26,591,126) |
Net change in unrealized depreciation on commodity and cryptocurrency futures contracts | (7,969,968) | (5,823,279) |
Interest income | 3,704,387 | 4,331,014 |
Total loss | (21,460,532) | (28,083,391) |
Expenses | ||
Management fees | 701,923 | 989,515 |
Professional fees | 302,008 | 446,052 |
Distribution and marketing fees | 947,591 | 927,712 |
Custodian fees and expenses | 95,024 | 120,560 |
Business permits and licenses fees | 56,338 | 34,617 |
General and administrative expenses | 70,863 | 49,142 |
Total expenses | 2,173,813 | 2,567,598 |
Expenses waived by the Sponsor | (131,847) | (196,064) |
Total expenses, net | 2,041,966 | 2,371,534 |
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Net income (loss) per share (in dollars per share) | $ 1.05 | $ 1.93 |
Net income (loss) per weighted average share (in dollars per share) | $ 1.12 | $ 1.87 |
Teucrium Corn Fund [Member] | ||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||
Realized loss on commodity and cryptocurrency futures contracts | $ (3,964,335) | $ (6,268,935) |
Net change in unrealized depreciation on commodity and cryptocurrency futures contracts | (1,596,170) | (3,299,360) |
Interest income | 948,218 | 1,454,236 |
Total loss | (4,612,287) | (8,114,059) |
Expenses | ||
Management fees | 178,243 | 328,874 |
Professional fees | 57,038 | 78,808 |
Distribution and marketing fees | 205,464 | 239,078 |
Custodian fees and expenses | 21,972 | 33,044 |
Business permits and licenses fees | 7,130 | 6,578 |
General and administrative expenses | 15,426 | 13,312 |
Total expenses | 485,273 | 699,694 |
Expenses waived by the Sponsor | 0 | 0 |
Total expenses, net | 485,273 | 699,694 |
Net income (loss) | $ (5,097,560) | $ (8,813,753) |
Net income (loss) per share (in dollars per share) | $ (1.39) | $ (1.63) |
Net income (loss) per weighted average share (in dollars per share) | $ (1.43) | $ (1.71) |
Weighted average shares outstanding (in shares) | 3,554,125 | 5,145,004 |
Statements of Changes in Net As
Statements of Changes in Net Assets (Unaudited) - Teucrium Corn Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Operations | ||
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Capital transactions | ||
Issuance of Shares | 13,002,447 | 17,208,235 |
Redemption of Shares | (26,854,784) | (100,669,768) |
Total capital transactions | (13,256,108) | (77,746,151) |
Net change in net assets | (36,758,606) | (108,201,076) |
Net assets, beginning of period | 314,547,414 | 465,375,598 |
Net assets, end of period | 277,788,808 | 357,174,522 |
Teucrium Corn Fund [Member] | ||
Operations | ||
Net income (loss) | (5,097,560) | (8,813,753) |
Capital transactions | ||
Issuance of Shares | 2,436,790 | 1,991,168 |
Redemption of Shares | (8,645,575) | (30,190,763) |
Total capital transactions | (6,208,785) | (28,199,595) |
Net change in net assets | (11,306,345) | (37,013,348) |
Net assets, beginning of period | 81,050,442 | 152,638,405 |
Net assets, end of period | $ 69,744,097 | $ 115,625,057 |
Net asset value per share at beginning of period (in dollars per share) | $ 21.61 | $ 26.9 |
Net asset value per share at end of period (in dollars per share) | $ 20.22 | $ 25.27 |
Stock Issued During Period, Shares, New Issues (in shares) | 125,000 | 75,000 |
Redemption of Shares (in shares) | 425,000 | 1,175,000 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - Teucrium Corn Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 7,969,968 | 5,823,279 |
Changes in operating assets and liabilities: | ||
Due from broker | (10,080,944) | 5,668,407 |
Interest receivable | 146,371 | 11,703 |
Other assets | (722) | (50,462) |
Management fee payable to Sponsor | (48,487) | (122,242) |
Other liabilities | 38,132 | 61,862 |
Net cash used in operating activities | (25,478,180) | (16,960,478) |
Cash flows from financing activities: | ||
Proceeds from sale of Shares | 13,002,447 | 18,185,376 |
Redemption of Shares | (26,854,784) | (110,853,683) |
Net cash used in financing activities | (13,063,582) | (86,952,925) |
Net change in cash and cash equivalents | (38,541,762) | (103,913,403) |
Cash and cash equivalents beginning of period | 292,237,362 | 434,062,296 |
Cash and cash equivalents end of period | 253,695,600 | 330,148,893 |
Teucrium Corn Fund [Member] | ||
Cash flows from operating activities: | ||
Net income (loss) | (5,097,560) | (8,813,753) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 1,596,170 | 3,299,360 |
Changes in operating assets and liabilities: | ||
Due from broker | (3,366,050) | (1,572,445) |
Interest receivable | 29,733 | (3,744) |
Other assets | 0 | 854 |
Management fee payable to Sponsor | (13,195) | (43,305) |
Other liabilities | 6,745 | 1,016 |
Net cash used in operating activities | (6,844,157) | (7,132,017) |
Cash flows from financing activities: | ||
Proceeds from sale of Shares | 2,436,790 | 3,335,998 |
Redemption of Shares | (8,645,575) | (31,535,593) |
Net cash used in financing activities | (6,208,785) | (28,199,595) |
Net change in cash and cash equivalents | (13,052,942) | (35,331,612) |
Cash and cash equivalents beginning of period | 76,745,471 | 142,434,737 |
Cash and cash equivalents end of period | $ 63,692,529 | $ 107,103,125 |
Statements of Assets and Liab_2
Statements of Assets and Liabilities (Current Period Unaudited) - Teucrium Soybean Fund - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Assets | ||
Cash and cash equivalents | $ 253,695,600 | $ 292,237,362 |
Interest receivable | 253,928 | 410,596 |
Other assets | 16,381 | 5,362 |
Equity in trading accounts: | ||
Due from broker | 41,016,750 | 30,935,806 |
Total assets | 296,650,377 | 325,956,138 |
Liabilities | ||
Management fee payable to Sponsor | 228,413 | 276,900 |
Other liabilities | 281,114 | 242,982 |
Equity in trading accounts, liabilities: | ||
Total liabilities | 18,861,569 | 11,408,724 |
Net Assets | 277,788,808 | 314,547,414 |
Teucrium Soybean Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 32,652,507 | 28,107,189 |
Interest receivable | 53,269 | 36,662 |
Other assets | 883 | 0 |
Equity in trading accounts: | ||
Due from broker | 2,165,633 | 2,385,040 |
Total assets | 34,872,292 | 30,528,891 |
Liabilities | ||
Management fee payable to Sponsor | 26,755 | 25,659 |
Other liabilities | 83,798 | 55,551 |
Equity in trading accounts, liabilities: | ||
Commodity futures contracts | 794,976 | 1,391,661 |
Total liabilities | 905,529 | 1,472,871 |
Net Assets | $ 33,966,763 | $ 29,056,020 |
Shares outstanding (in shares) | 1,350,004 | 1,075,004 |
Net asset value per share (in dollars per share) | $ 25.16 | $ 27.03 |
Market value per share (in dollars per share) | $ 25.21 | $ 27.01 |
Statements of Operations (Una_2
Statements of Operations (Unaudited) - Teucrium Soybean Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||
Realized loss on commodity and cryptocurrency futures contracts | $ (17,194,951) | $ (26,591,126) |
Net change in unrealized depreciation on commodity and cryptocurrency futures contracts | (7,969,968) | (5,823,279) |
Interest income | 3,704,387 | 4,331,014 |
Total loss | (21,460,532) | (28,083,391) |
Expenses | ||
Management fees | 701,923 | 989,515 |
Professional fees | 302,008 | 446,052 |
Distribution and marketing fees | 947,591 | 927,712 |
Custodian fees and expenses | 95,024 | 120,560 |
Business permits and licenses fees | 56,338 | 34,617 |
General and administrative expenses | 70,863 | 49,142 |
Total expenses | 2,173,813 | 2,567,598 |
Expenses waived by the Sponsor | (131,847) | (196,064) |
Total expenses, net | 2,041,966 | 2,371,534 |
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Net income (loss) per share (in dollars per share) | $ 1.05 | $ 1.93 |
Net income (loss) per weighted average share (in dollars per share) | $ 1.12 | $ 1.87 |
Teucrium Soybean Fund [Member] | ||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||
Realized loss on commodity and cryptocurrency futures contracts | $ (2,632,854) | $ 1,067,543 |
Net change in unrealized depreciation on commodity and cryptocurrency futures contracts | 596,685 | (3,699,642) |
Interest income | 380,411 | 511,623 |
Total loss | (1,655,758) | (2,120,476) |
Expenses | ||
Management fees | 70,722 | 114,690 |
Professional fees | 38,420 | 57,998 |
Distribution and marketing fees | 100,750 | 69,185 |
Custodian fees and expenses | 8,486 | 3,441 |
Business permits and licenses fees | 6,269 | 2,294 |
General and administrative expenses | 7,072 | 2,294 |
Total expenses | 231,719 | 249,902 |
Expenses waived by the Sponsor | 0 | 0 |
Total expenses, net | 231,719 | 249,902 |
Net income (loss) | $ (1,887,477) | $ (2,370,378) |
Net income (loss) per share (in dollars per share) | $ (1.87) | $ (1.31) |
Net income (loss) per weighted average share (in dollars per share) | $ (1.67) | $ (1.42) |
Weighted average shares outstanding (in shares) | 1,129,400 | 1,668,615 |
Statements of Changes in Net _2
Statements of Changes in Net Assets (Unaudited) - Teucrium Soybean Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Operations | ||
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Capital transactions | ||
Issuance of Shares | 13,002,447 | 17,208,235 |
Redemption of Shares | (26,854,784) | (100,669,768) |
Total capital transactions | (13,256,108) | (77,746,151) |
Net change in net assets | (36,758,606) | (108,201,076) |
Net assets, beginning of period | 314,547,414 | 465,375,598 |
Net assets, end of period | 277,788,808 | 357,174,522 |
Teucrium Soybean Fund [Member] | ||
Operations | ||
Net income (loss) | (1,887,477) | (2,370,378) |
Capital transactions | ||
Issuance of Shares | 8,094,215 | 3,526,043 |
Redemption of Shares | (1,295,995) | (21,521,150) |
Total capital transactions | 6,798,220 | (17,995,107) |
Net change in net assets | 4,910,743 | (20,365,485) |
Net assets, beginning of period | 29,056,020 | 58,429,985 |
Net assets, end of period | $ 33,966,763 | $ 38,064,500 |
Net asset value per share at beginning of period (in dollars per share) | $ 27.03 | $ 28.5 |
Net asset value per share at end of period (in dollars per share) | $ 25.16 | $ 27.19 |
Stock Issued During Period, Shares, New Issues (in shares) | 325,000 | 125,000 |
Redemption of Shares (in shares) | 50,000 | 775,000 |
Statements of Cash Flows (Una_2
Statements of Cash Flows (Unaudited) - Teucrium Soybean Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 7,969,968 | 5,823,279 |
Changes in operating assets and liabilities: | ||
Due from broker | (10,080,944) | 5,668,407 |
Interest receivable | 146,371 | 11,703 |
Other assets | (722) | (50,462) |
Management fee payable to Sponsor | (48,487) | (122,242) |
Other liabilities | 38,132 | 61,862 |
Net cash used in operating activities | (25,478,180) | (16,960,478) |
Cash flows from financing activities: | ||
Proceeds from sale of Shares | 13,002,447 | 18,185,376 |
Redemption of Shares | (26,854,784) | (110,853,683) |
Net cash used in financing activities | (13,063,582) | (86,952,925) |
Net change in cash and cash equivalents | (38,541,762) | (103,913,403) |
Cash and cash equivalents beginning of period | 292,237,362 | 434,062,296 |
Cash and cash equivalents end of period | 253,695,600 | 330,148,893 |
Teucrium Soybean Fund [Member] | ||
Cash flows from operating activities: | ||
Net income (loss) | (1,887,477) | (2,370,378) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | (596,685) | 3,699,642 |
Changes in operating assets and liabilities: | ||
Due from broker | 219,407 | (2,578,615) |
Interest receivable | (16,607) | 34,657 |
Other assets | (883) | (29,849) |
Management fee payable to Sponsor | 1,096 | (21,191) |
Other liabilities | 28,247 | (7,119) |
Net cash used in operating activities | (2,252,902) | (1,272,853) |
Cash flows from financing activities: | ||
Proceeds from sale of Shares | 8,094,215 | 3,526,043 |
Redemption of Shares | (1,295,995) | (24,371,410) |
Net cash used in financing activities | 6,798,220 | (20,845,367) |
Net change in cash and cash equivalents | 4,545,318 | (22,118,220) |
Cash and cash equivalents beginning of period | 28,107,189 | 58,212,569 |
Cash and cash equivalents end of period | $ 32,652,507 | $ 36,094,349 |
Statements of Assets and Liab_3
Statements of Assets and Liabilities (Current Period Unaudited) - Teucrium Sugar Fund - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Assets | ||
Cash and cash equivalents | $ 253,695,600 | $ 292,237,362 |
Interest receivable | 253,928 | 410,596 |
Other assets | 16,381 | 5,362 |
Equity in trading accounts: | ||
Due from broker | 41,016,750 | 30,935,806 |
Total assets | 296,650,377 | 325,956,138 |
Liabilities | ||
Management fee payable to Sponsor | 228,413 | 276,900 |
Other liabilities | 281,114 | 242,982 |
Equity in trading accounts, liabilities: | ||
Total liabilities | 18,861,569 | 11,408,724 |
Net Assets | 277,788,808 | 314,547,414 |
Teucrium Sugar Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 15,283,959 | 16,773,745 |
Interest receivable | 21,734 | 31,551 |
Other assets | 9,114 | 835 |
Equity in trading accounts: | ||
Due from broker | 2,063,532 | 3,650,191 |
Total assets | 17,378,339 | 20,456,322 |
Liabilities | ||
Management fee payable to Sponsor | 13,643 | 17,451 |
Other liabilities | 21,123 | 30,774 |
Equity in trading accounts, liabilities: | ||
Commodity futures contracts | 814,401 | 2,687,998 |
Total liabilities | 849,167 | 2,736,223 |
Net Assets | $ 16,529,172 | $ 17,720,099 |
Shares outstanding (in shares) | 1,225,004 | 1,425,004 |
Net asset value per share (in dollars per share) | $ 13.49 | $ 12.44 |
Market value per share (in dollars per share) | $ 13.49 | $ 12.4 |
Statements of Operations (Una_3
Statements of Operations (Unaudited) - Teucrium Sugar Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||
Realized loss on commodity and cryptocurrency futures contracts | $ (17,194,951) | $ (26,591,126) |
Net change in unrealized depreciation on commodity and cryptocurrency futures contracts | (7,969,968) | (5,823,279) |
Interest income | 3,704,387 | 4,331,014 |
Total loss | (21,460,532) | (28,083,391) |
Expenses | ||
Management fees | 701,923 | 989,515 |
Professional fees | 302,008 | 446,052 |
Distribution and marketing fees | 947,591 | 927,712 |
Custodian fees and expenses | 95,024 | 120,560 |
Business permits and licenses fees | 56,338 | 34,617 |
General and administrative expenses | 70,863 | 49,142 |
Total expenses | 2,173,813 | 2,567,598 |
Expenses waived by the Sponsor | (131,847) | (196,064) |
Total expenses, net | 2,041,966 | 2,371,534 |
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Net income (loss) per share (in dollars per share) | $ 1.05 | $ 1.93 |
Net income (loss) per weighted average share (in dollars per share) | $ 1.12 | $ 1.87 |
Teucrium Sugar Fund [Member] | ||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||
Realized loss on commodity and cryptocurrency futures contracts | $ (482,314) | $ 1,339,448 |
Net change in unrealized depreciation on commodity and cryptocurrency futures contracts | 1,873,597 | 3,139,817 |
Interest income | 224,625 | 271,449 |
Total loss | 1,615,908 | 4,750,714 |
Expenses | ||
Management fees | 42,559 | 61,338 |
Professional fees | 27,663 | 69,929 |
Distribution and marketing fees | 82,545 | 34,816 |
Custodian fees and expenses | 8,512 | 1,036 |
Business permits and licenses fees | 5,631 | 2,491 |
General and administrative expenses | 5,107 | 613 |
Total expenses | 172,017 | 170,223 |
Expenses waived by the Sponsor | 0 | 0 |
Total expenses, net | 172,017 | 170,223 |
Net income (loss) | $ 1,443,891 | $ 4,580,491 |
Weighted average shares outstanding (in shares) | 1,287,641 | 2,446,948 |
Statements of Changes in Net _3
Statements of Changes in Net Assets (Unaudited) - Teucrium Sugar Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Operations | ||
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Capital transactions | ||
Issuance of Shares | 13,002,447 | 17,208,235 |
Redemption of Shares | (26,854,784) | (100,669,768) |
Total capital transactions | (13,256,108) | (77,746,151) |
Net change in net assets | (36,758,606) | (108,201,076) |
Net assets, beginning of period | 314,547,414 | 465,375,598 |
Net assets, end of period | 277,788,808 | 357,174,522 |
Teucrium Sugar Fund [Member] | ||
Operations | ||
Net income (loss) | 1,443,891 | 4,580,491 |
Capital transactions | ||
Issuance of Shares | 0 | 5,458,637 |
Redemption of Shares | (2,634,818) | (6,262,695) |
Total capital transactions | (2,634,818) | (804,058) |
Net change in net assets | (1,190,927) | 3,776,433 |
Net assets, beginning of period | 17,720,099 | 24,262,359 |
Net assets, end of period | $ 16,529,172 | $ 28,038,792 |
Net asset value per share at beginning of period (in dollars per share) | $ 12.44 | $ 9.51 |
Net asset value per share at end of period (in dollars per share) | $ 13.49 | $ 11.44 |
Stock Issued During Period, Shares, New Issues (in shares) | 0 | 525,000 |
Redemption of Shares (in shares) | 200,000 | 625,000 |
Statements of Cash Flows (Una_3
Statements of Cash Flows (Unaudited) - Teucrium Sugar Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 7,969,968 | 5,823,279 |
Changes in operating assets and liabilities: | ||
Due from broker | (10,080,944) | 5,668,407 |
Interest receivable | 146,371 | 11,703 |
Other assets | (722) | (50,462) |
Due to broker | 0 | 2,101,900 |
Management fee payable to Sponsor | (48,487) | (122,242) |
Other liabilities | 38,132 | 61,862 |
Net cash used in operating activities | (25,478,180) | (16,960,478) |
Cash flows from financing activities: | ||
Proceeds from sale of Shares | 13,002,447 | 18,185,376 |
Redemption of Shares | (26,854,784) | (110,853,683) |
Net cash used in financing activities | (13,063,582) | (86,952,925) |
Net change in cash and cash equivalents | (38,541,762) | (103,913,403) |
Cash and cash equivalents beginning of period | 292,237,362 | 434,062,296 |
Cash and cash equivalents end of period | 253,695,600 | 330,148,893 |
Teucrium Sugar Fund [Member] | ||
Cash flows from operating activities: | ||
Net income (loss) | 1,443,891 | 4,580,491 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | (1,873,597) | (3,139,817) |
Changes in operating assets and liabilities: | ||
Due from broker | 1,586,659 | 447,801 |
Interest receivable | 9,817 | (16,719) |
Other assets | (8,279) | (16,995) |
Due to broker | 0 | 2,101,900 |
Management fee payable to Sponsor | (3,808) | 2,877 |
Other liabilities | (9,651) | (623) |
Net cash used in operating activities | 1,145,032 | 3,958,915 |
Cash flows from financing activities: | ||
Proceeds from sale of Shares | 0 | 5,458,637 |
Redemption of Shares | (2,634,818) | (6,262,695) |
Net cash used in financing activities | (2,634,818) | (804,058) |
Net change in cash and cash equivalents | (1,489,786) | 3,154,857 |
Cash and cash equivalents beginning of period | 16,773,745 | 22,977,480 |
Cash and cash equivalents end of period | $ 15,283,959 | $ 26,132,337 |
Statements of Assets and Liab_4
Statements of Assets and Liabilities (Current Period Unaudited) - Teucrium Wheat Fund - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Assets | ||
Cash and cash equivalents | $ 253,695,600 | $ 292,237,362 |
Interest receivable | 253,928 | 410,596 |
Other assets | 16,381 | 5,362 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 1,667,718 | 2,367,012 |
Due from broker | 41,016,750 | 30,935,806 |
Total equity in trading accounts | 42,684,468 | 33,302,818 |
Total assets | 296,650,377 | 325,956,138 |
Liabilities | ||
Management fee payable to Sponsor | 228,413 | 276,900 |
Other liabilities | 281,114 | 242,982 |
Equity in trading accounts, liabilities: | ||
Total liabilities | 18,861,569 | 11,408,724 |
Net Assets | 277,788,808 | 314,547,414 |
Teucrium Wheat Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 142,056,904 | 168,732,086 |
Interest receivable | 103,341 | 226,748 |
Other assets | 813 | 4,527 |
Equity in trading accounts: | ||
Commodity and cryptocurrency futures contracts | 1,513,306 | 2,237,493 |
Due from broker | 26,887,597 | 17,783,729 |
Total equity in trading accounts | 28,400,903 | 20,021,222 |
Total assets | 170,561,961 | 188,984,583 |
Liabilities | ||
Management fee payable to Sponsor | 129,704 | 160,231 |
Other liabilities | 85,006 | 72,017 |
Equity in trading accounts, liabilities: | ||
Commodity futures contracts | 12,809,942 | 4,575,666 |
Total liabilities | 13,024,652 | 4,807,914 |
Net Assets | $ 157,537,309 | $ 184,176,669 |
Shares outstanding (in shares) | 29,250,004 | 30,800,004 |
Net asset value per share (in dollars per share) | $ 5.39 | $ 5.98 |
Market value per share (in dollars per share) | $ 5.41 | $ 5.97 |
Statements of Operations (Una_4
Statements of Operations (Unaudited) - Teucrium Wheat Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||
Realized loss on commodity and cryptocurrency futures contracts | $ (17,194,951) | $ (26,591,126) |
Net change in unrealized depreciation on commodity and cryptocurrency futures contracts | (7,969,968) | (5,823,279) |
Interest income | 3,704,387 | 4,331,014 |
Total loss | (21,460,532) | (28,083,391) |
Expenses | ||
Management fees | 701,923 | 989,515 |
Professional fees | 302,008 | 446,052 |
Distribution and marketing fees | 947,591 | 927,712 |
Custodian fees and expenses | 95,024 | 120,560 |
Business permits and licenses fees | 56,338 | 34,617 |
General and administrative expenses | 70,863 | 49,142 |
Total expenses | 2,173,813 | 2,567,598 |
Expenses waived by the Sponsor | (131,847) | (196,064) |
Total expenses, net | 2,041,966 | 2,371,534 |
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Net income (loss) per share (in dollars per share) | $ 1.05 | $ 1.93 |
Net income (loss) per weighted average share (in dollars per share) | $ 1.12 | $ 1.87 |
Teucrium Wheat Fund [Member] | ||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||
Realized loss on commodity and cryptocurrency futures contracts | $ (10,037,305) | $ (23,358,733) |
Net change in unrealized depreciation on commodity and cryptocurrency futures contracts | (8,958,463) | (2,092,562) |
Interest income | 2,149,924 | 2,080,146 |
Total loss | (16,845,844) | (23,371,149) |
Expenses | ||
Management fees | 410,199 | 481,218 |
Professional fees | 109,035 | 104,985 |
Distribution and marketing fees | 521,828 | 544,062 |
Custodian fees and expenses | 50,520 | 75,710 |
Business permits and licenses fees | 16,408 | 4,812 |
General and administrative expenses | 41,020 | 29,485 |
Total expenses | 1,149,010 | 1,240,272 |
Expenses waived by the Sponsor | 0 | 0 |
Total expenses, net | 1,149,010 | 1,240,272 |
Net income (loss) | $ (17,994,854) | $ (24,611,421) |
Net income (loss) per share (in dollars per share) | $ (0.59) | $ (0.93) |
Net income (loss) per weighted average share (in dollars per share) | $ (0.6) | $ (0.94) |
Weighted average shares outstanding (in shares) | 29,990,663 | 26,265,282 |
Statements of Changes in Net _4
Statements of Changes in Net Assets (Unaudited) - Teucrium Wheat Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Operations | ||
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Capital transactions | ||
Issuance of Shares | 13,002,447 | 17,208,235 |
Redemption of Shares | (26,854,784) | (100,669,768) |
Total capital transactions | (13,256,108) | (77,746,151) |
Net change in net assets | (36,758,606) | (108,201,076) |
Net assets, beginning of period | 314,547,414 | 465,375,598 |
Net assets, end of period | 277,788,808 | 357,174,522 |
Teucrium Wheat Fund [Member] | ||
Operations | ||
Net income (loss) | (17,994,854) | (24,611,421) |
Capital transactions | ||
Issuance of Shares | 2,471,442 | 5,864,698 |
Redemption of Shares | (11,115,948) | (37,002,190) |
Total capital transactions | (8,644,506) | (31,137,492) |
Net change in net assets | (26,639,360) | (55,748,913) |
Net assets, beginning of period | 184,176,669 | 228,972,039 |
Net assets, end of period | $ 157,537,309 | $ 173,223,126 |
Net asset value per share at beginning of period (in dollars per share) | $ 5.98 | $ 7.99 |
Net asset value per share at end of period (in dollars per share) | $ 5.39 | $ 7.06 |
Stock Issued During Period, Shares, New Issues (in shares) | 475,000 | 825,000 |
Redemption of Shares (in shares) | 2,025,000 | 4,975,000 |
Statements of Cash Flows (Una_4
Statements of Cash Flows (Unaudited) - Teucrium Wheat Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 7,969,968 | 5,823,279 |
Changes in operating assets and liabilities: | ||
Due from broker | (10,080,944) | 5,668,407 |
Interest receivable | 146,371 | 11,703 |
Other assets | (722) | (50,462) |
Management fee payable to Sponsor | (48,487) | (122,242) |
Other liabilities | 38,132 | 61,862 |
Net cash used in operating activities | (25,478,180) | (16,960,478) |
Cash flows from financing activities: | ||
Proceeds from sale of Shares | 13,002,447 | 18,185,376 |
Redemption of Shares | (26,854,784) | (110,853,683) |
Net cash used in financing activities | (13,063,582) | (86,952,925) |
Net change in cash and cash equivalents | (38,541,762) | (103,913,403) |
Cash and cash equivalents beginning of period | 292,237,362 | 434,062,296 |
Cash and cash equivalents end of period | 253,695,600 | 330,148,893 |
Teucrium Wheat Fund [Member] | ||
Cash flows from operating activities: | ||
Net income (loss) | (17,994,854) | (24,611,421) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 8,958,463 | 2,092,562 |
Changes in operating assets and liabilities: | ||
Due from broker | (9,103,868) | 9,481,490 |
Interest receivable | 123,407 | (352) |
Other assets | 3,714 | 2,728 |
Management fee payable to Sponsor | (30,527) | (61,031) |
Other liabilities | 12,989 | 66,003 |
Net cash used in operating activities | (18,030,676) | (13,030,021) |
Cash flows from financing activities: | ||
Proceeds from sale of Shares | 2,471,442 | 5,864,698 |
Redemption of Shares | (11,115,948) | (42,991,015) |
Net cash used in financing activities | (8,644,506) | (37,126,317) |
Net change in cash and cash equivalents | (26,675,182) | (50,156,338) |
Cash and cash equivalents beginning of period | 168,732,086 | 209,730,825 |
Cash and cash equivalents end of period | $ 142,056,904 | $ 159,574,487 |
Statements of Assets and Liab_5
Statements of Assets and Liabilities (Current Period Unaudited) - Teucrium Agricultural Fund - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Assets | ||
Cash and cash equivalents | $ 253,695,600 | $ 292,237,362 |
Interest receivable | 253,928 | 410,596 |
Other assets | 16,381 | 5,362 |
Equity in trading accounts: | ||
Total assets | 296,650,377 | 325,956,138 |
Liabilities | ||
Other liabilities | 281,114 | 242,982 |
Total liabilities | 18,861,569 | 11,408,724 |
Net Assets | 277,788,808 | 314,547,414 |
Teucrium Agricultural Fund [Member] | ||
Assets | ||
Cash and cash equivalents | 9,701 | 11,208 |
Interest receivable | 34 | 55 |
Other assets | 5,571 | 0 |
Equity in trading accounts: | ||
Investments in securities, at fair value (cost $16,068,429 and $19,469,359 as of March 31, 2024 and December 31, 2023, respectively) | 14,515,416 | 18,401,900 |
Total assets | 14,530,722 | 18,413,163 |
Liabilities | ||
Other liabilities | 3,839 | 4,037 |
Total liabilities | 3,839 | 4,037 |
Net Assets | $ 14,526,883 | $ 18,409,126 |
Shares outstanding (in shares) | 512,502 | 625,002 |
Net asset value per share (in dollars per share) | $ 28.35 | $ 29.45 |
Market value per share (in dollars per share) | $ 28.36 | $ 29.41 |
Statements of Assets and Liab_6
Statements of Assets and Liabilities (Current Period Unaudited) - Teucrium Agricultural Fund (Parentheticals) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Teucrium Agricultural Fund [Member] | ||
Investments, at cost | $ 16,068,429 | $ 19,469,359 |
Statements of Operations (Una_5
Statements of Operations (Unaudited) - Teucrium Agricultural Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||
Realized loss on commodity and cryptocurrency futures contracts | $ (17,194,951) | $ (26,591,126) |
Net change in unrealized depreciation on commodity and cryptocurrency futures contracts | (7,969,968) | (5,823,279) |
Interest income | 3,704,387 | 4,331,014 |
Total loss | (21,460,532) | (28,083,391) |
Expenses | ||
Professional fees | 302,008 | 446,052 |
Distribution and marketing fees | 947,591 | 927,712 |
Custodian fees and expenses | 95,024 | 120,560 |
Business permits and licenses fees | 56,338 | 34,617 |
General and administrative expenses | 70,863 | 49,142 |
Other expenses | 66 | 0 |
Total expenses | 2,173,813 | 2,567,598 |
Expenses waived by the Sponsor | (131,847) | (196,064) |
Total expenses, net | 2,041,966 | 2,371,534 |
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Net income (loss) per share (in dollars per share) | $ 1.05 | $ 1.93 |
Net income (loss) per weighted average share (in dollars per share) | $ 1.12 | $ 1.87 |
Teucrium Agricultural Fund [Member] | ||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | ||
Realized loss on commodity and cryptocurrency futures contracts | $ (230,630) | $ (60,094) |
Net change in unrealized depreciation on commodity and cryptocurrency futures contracts | (485,554) | (439,126) |
Interest income | 136 | 112 |
Total loss | (716,048) | (499,108) |
Expenses | ||
Professional fees | 21,363 | 75,512 |
Distribution and marketing fees | 36,178 | 39,209 |
Custodian fees and expenses | 3,615 | 7,070 |
Business permits and licenses fees | 9,825 | 8,313 |
General and administrative expenses | 2,238 | 3,438 |
Other expenses | 66 | 0 |
Total expenses | 73,285 | 133,542 |
Expenses waived by the Sponsor | (69,538) | (125,494) |
Total expenses, net | 3,747 | 8,048 |
Net income (loss) | $ (719,795) | $ (507,156) |
Net income (loss) per share (in dollars per share) | $ (1.1) | $ (0.3) |
Net income (loss) per weighted average share (in dollars per share) | $ (1.22) | $ (0.43) |
Weighted average shares outstanding (in shares) | 590,524 | 1,177,085 |
Statements of Changes in Net _5
Statements of Changes in Net Assets (Unaudited) - Teucrium Agricultural Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Operations | ||
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Capital transactions | ||
Issuance of Shares | 13,002,447 | 17,208,235 |
Redemption of Shares | (26,854,784) | (100,669,768) |
Total capital transactions | (13,256,108) | (77,746,151) |
Net change in net assets | (36,758,606) | (108,201,076) |
Net assets, beginning of period | 314,547,414 | 465,375,598 |
Net assets, end of period | 277,788,808 | 357,174,522 |
Teucrium Agricultural Fund [Member] | ||
Operations | ||
Net income (loss) | (719,795) | (507,156) |
Capital transactions | ||
Issuance of Shares | 0 | 0 |
Redemption of Shares | (3,162,448) | (5,692,970) |
Total capital transactions | (3,162,448) | (5,692,970) |
Net change in net assets | (3,882,243) | (6,200,126) |
Net assets, beginning of period | 18,409,126 | 39,575,245 |
Net assets, end of period | $ 14,526,883 | $ 33,375,119 |
Net asset value per share at beginning of period (in dollars per share) | $ 29.45 | $ 31.35 |
Net asset value per share at end of period (in dollars per share) | $ 28.35 | $ 31.05 |
Stock Issued During Period, Shares, New Issues (in shares) | 0 | 0 |
Redemption of Shares (in shares) | 112,500 | 187,500 |
Statements of Cash Flows (Una_5
Statements of Cash Flows (Unaudited) - Teucrium Agricultural Fund - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (23,502,498) | $ (30,454,925) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 7,969,968 | 5,823,279 |
Changes in operating assets and liabilities: | ||
Interest receivable | 146,371 | 11,703 |
Other assets | (722) | (50,462) |
Other liabilities | 38,132 | 61,862 |
Net cash used in operating activities | (25,478,180) | (16,960,478) |
Cash flows from financing activities: | ||
Redemption of Shares | (26,854,784) | (110,853,683) |
Net cash used in financing activities | (13,063,582) | (86,952,925) |
Net change in cash and cash equivalents | (38,541,762) | (103,913,403) |
Cash and cash equivalents beginning of period | 292,237,362 | 434,062,296 |
Cash and cash equivalents end of period | 253,695,600 | 330,148,893 |
Teucrium Agricultural Fund [Member] | ||
Cash flows from operating activities: | ||
Net income (loss) | (719,795) | (507,156) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 485,554 | 439,126 |
Changes in operating assets and liabilities: | ||
Net sale of investments in securities | 3,400,930 | 5,775,476 |
Interest receivable | 21 | (15) |
Other assets | (5,571) | (7,200) |
Other liabilities | (198) | 2,585 |
Net cash used in operating activities | 3,160,941 | 5,702,816 |
Cash flows from financing activities: | ||
Redemption of Shares | (3,162,448) | (5,692,970) |
Net cash used in financing activities | (3,162,448) | (5,692,970) |
Net change in cash and cash equivalents | (1,507) | 9,846 |
Cash and cash equivalents beginning of period | 11,208 | 4,716 |
Cash and cash equivalents end of period | $ 9,701 | $ 14,562 |
Statements of Assets and Liab_7
Statements of Assets and Liabilities (Current Period Unaudited) - Hashdex Bitcoin Futures ETF - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 | |
Assets | |||
Cash and cash equivalents | $ 253,695,600 | $ 292,237,362 | |
Interest receivable | 253,928 | 410,596 | |
Equity in trading accounts: | |||
Due from broker | 41,016,750 | 30,935,806 | |
Total equity in trading accounts | 42,684,468 | 33,302,818 | |
Total assets | 296,650,377 | 325,956,138 | |
Liabilities | |||
Management fee payable to Sponsor | 228,413 | 276,900 | |
Equity in trading accounts, liabilities: | |||
Total liabilities | 18,861,569 | 11,408,724 | |
Net Assets | 277,788,808 | 314,547,414 | |
Hashdex Bitcoin Futures ETF [Member] | |||
Assets | |||
Cash and cash equivalents | 0 | [1],[2] | 1,867,663 |
Interest receivable | 0 | [1],[2] | 10,297 |
Equity in trading accounts: | |||
Cryptocurrency futures contracts | 0 | [1],[2] | 129,519 |
Due from broker | 0 | [1],[2] | 582,908 |
Total equity in trading accounts | 0 | [1],[2] | 712,427 |
Total assets | 0 | [1],[2] | 2,590,387 |
Liabilities | |||
Management fee payable to Sponsor | 0 | [1],[2] | 2,053 |
Equity in trading accounts, liabilities: | |||
Commodity futures contracts | 0 | [1],[2] | 51,376 |
Total liabilities | 0 | [1],[2] | 53,429 |
Net Assets | $ 0 | [1],[2],[3] | $ 2,536,958 |
Shares outstanding (in shares) | 0 | [1],[2] | 50,000 |
Net asset value per share (in dollars per share) | $ 0 | [1],[2] | $ 50.74 |
Market value per share (in dollars per share) | $ 0 | [1],[2] | $ 50.73 |
[1]On January 3, 2024, the scheduled merger of the Hashdex Bitcoin Futures ETF (the “Acquired Fund”), a series of the Teucrium Commodity Trust into the Hashdex Bitcoin Futures ETF (the “Acquiring Fund”), a series of Tidal Commodities Trust I, became effective and therefore, no assets and liabilities remained after the effective date.[2]On September 14, 2022, the Hashdex Bitcoin Futures ETF registered an indeterminate number of shares of the Fund pursuant to Rule 456(d) under the Securities Act of 1933.[3]The Hashdex Bitcoin Futures ETF was merged into the Tidal Commodities Trust I as described in Note 1 to these financials. |
Statements of Operations (Una_6
Statements of Operations (Unaudited) - Hashdex Bitcoin Futures ETF - USD ($) | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | |||
Realized loss on commodity and cryptocurrency futures contracts | $ (17,194,951) | $ (26,591,126) | |
Net change in unrealized depreciation on commodity and cryptocurrency futures contracts | (7,969,968) | (5,823,279) | |
Interest income | 3,704,387 | 4,331,014 | |
Total loss | (21,460,532) | (28,083,391) | |
Expenses | |||
Management fees | 701,923 | 989,515 | |
Professional fees | 302,008 | 446,052 | |
Distribution and marketing fees | 947,591 | 927,712 | |
Custodian fees and expenses | 95,024 | 120,560 | |
Business permits and licenses fees | 56,338 | 34,617 | |
Total expenses | 2,173,813 | 2,567,598 | |
Expenses waived by the Sponsor | (131,847) | (196,064) | |
Total expenses, net | 2,041,966 | 2,371,534 | |
Net income (loss) | $ (23,502,498) | $ (30,454,925) | |
Net income (loss) per share (in dollars per share) | $ 1.05 | $ 1.93 | |
Net income (loss) per weighted average share (in dollars per share) | $ 1.12 | $ 1.87 | |
Hashdex Bitcoin Futures ETF [Member] | |||
Realized and unrealized gain (loss) on trading of commodity futures contracts: | |||
Realized loss on commodity and cryptocurrency futures contracts | $ (78,143) | [1] | $ 629,551 |
Net change in unrealized depreciation on commodity and cryptocurrency futures contracts | 114,383 | [1] | 128,468 |
Interest income | 1,073 | [1] | 13,448 |
Total loss | 37,313 | [1] | 771,467 |
Expenses | |||
Management fees | 200 | [1] | 3,395 |
Professional fees | 48,489 | [1] | 58,820 |
Distribution and marketing fees | 826 | [1] | 1,362 |
Custodian fees and expenses | 1,919 | [1] | 259 |
Business permits and licenses fees | 11,075 | [1] | 10,129 |
Total expenses | 62,509 | [1] | 73,965 |
Expenses waived by the Sponsor | (62,309) | [1] | (70,570) |
Total expenses, net | 200 | [1] | 3,395 |
Net income (loss) | $ 37,113 | [1] | $ 768,072 |
Net income (loss) per share (in dollars per share) | $ 0.74 | [1] | $ 15.36 |
Net income (loss) per weighted average share (in dollars per share) | $ 0.74 | [1] | $ 15.36 |
Weighted average shares outstanding (in shares) | 50,000 | [1] | 50,004 |
[1]On January 3, 2024, the scheduled merger of the Hashdex Bitcoin Futures ETF (the "Acquired Fund"), a series of the Teucrium Commodity Trust into the Hashdex Bitcoin Futures ETF (the "Acquiring Fund") a series of Tidal Commodities Trust I, became effective, and therefore, the operations presented here reflect the Aqcuired Fund's operations from January 1, 2024 to January 3, 2024 only. |
Statements of Changes in Net _6
Statements of Changes in Net Assets (Unaudited) - Hashdex Bitcoin Futures ETF - USD ($) | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Net income (loss) | $ (23,502,498) | $ (30,454,925) | |
Capital transactions | |||
Distribution of Net Assets to Acquiring Fund | (2,574,071) | 0 | |
Issuance of Shares | 13,002,447 | 17,208,235 | |
Redemption of Shares | (26,854,784) | (100,669,768) | |
Net change in net assets | (36,758,606) | (108,201,076) | |
Net assets, beginning of period | 314,547,414 | 465,375,598 | |
Net assets, end of period | 277,788,808 | 357,174,522 | |
Hashdex Bitcoin Futures ETF [Member] | |||
Net income (loss) | 37,113 | [1] | 768,072 |
Capital transactions | |||
Distribution of Net Assets to Acquiring Fund | (2,574,071) | 0 | |
Issuance of Shares | 0 | 367,689 | |
Redemption of Shares | 0 | 0 | |
Total capital transactions | (2,574,071) | 367,689 | |
Net change in net assets | (2,536,958) | 1,135,761 | |
Net assets, beginning of period | 2,536,958 | 1,070,263 | |
Net assets, end of period | $ 0 | [2],[3],[4] | $ 2,206,024 |
Net asset value per share at beginning of period (in dollars per share) | $ 50.74 | $ 21.4 | |
Net asset value per share at end of period (in dollars per share) | $ 0 | [2],[3] | $ 36.76 |
Creation of Shares (in shares) | 0 | 10,000 | |
Redemption of Shares (in shares) | 0 | 0 | |
[1]On January 3, 2024, the scheduled merger of the Hashdex Bitcoin Futures ETF (the "Acquired Fund"), a series of the Teucrium Commodity Trust into the Hashdex Bitcoin Futures ETF (the "Acquiring Fund") a series of Tidal Commodities Trust I, became effective, and therefore, the operations presented here reflect the Aqcuired Fund's operations from January 1, 2024 to January 3, 2024 only.[2]On January 3, 2024, the scheduled merger of the Hashdex Bitcoin Futures ETF (the “Acquired Fund”), a series of the Teucrium Commodity Trust into the Hashdex Bitcoin Futures ETF (the “Acquiring Fund”), a series of Tidal Commodities Trust I, became effective and therefore, no assets and liabilities remained after the effective date.[3]On September 14, 2022, the Hashdex Bitcoin Futures ETF registered an indeterminate number of shares of the Fund pursuant to Rule 456(d) under the Securities Act of 1933.[4]The Hashdex Bitcoin Futures ETF was merged into the Tidal Commodities Trust I as described in Note 1 to these financials. |
Statements of Cash Flows (Una_6
Statements of Cash Flows (Unaudited) - Hashdex Bitcoin Futures ETF - USD ($) | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Cash flows from operating activities: | |||
Net income (loss) | $ (23,502,498) | $ (30,454,925) | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | 7,969,968 | 5,823,279 | |
Changes in operating assets and liabilities: | |||
Due from broker | (10,080,944) | 5,668,407 | |
Interest receivable | 146,371 | 11,703 | |
Management fee payable to Sponsor | (48,487) | (122,242) | |
Net cash used in operating activities | (25,478,180) | (16,960,478) | |
Cash flows from financing activities: | |||
Distribution to Acquiring Fund upon consummation of merger and liquidation agreement - see Note 1 to the finanical statements | (2,381,545) | 0 | |
Proceeds from sale of Shares | 13,002,447 | 18,185,376 | |
Redemption of Shares | (26,854,784) | (110,853,683) | |
Net cash used in financing activities | (13,063,582) | (86,952,925) | |
Net change in cash and cash equivalents | (38,541,762) | (103,913,403) | |
Cash and cash equivalents beginning of period | 292,237,362 | 434,062,296 | |
Cash and cash equivalents end of period | 253,695,600 | 330,148,893 | |
Hashdex Bitcoin Futures ETF [Member] | |||
Cash flows from operating activities: | |||
Net income (loss) | 37,113 | [1] | 768,072 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Net change in unrealized appreciation on commodity and cryptocurrency futures contracts | (114,383) | [1] | (128,468) |
Changes in operating assets and liabilities: | |||
Due from broker | 582,908 | (109,824) | |
Interest receivable | 10,297 | (2,124) | |
Management fee payable to Sponsor | (2,053) | 408 | |
Net cash used in operating activities | 513,882 | 528,064 | |
Cash flows from financing activities: | |||
Distribution to Acquiring Fund upon consummation of merger and liquidation agreement - see Note 1 to the finanical statements | (2,381,545) | 0 | |
Proceeds from sale of Shares | 0 | 0 | |
Redemption of Shares | 0 | 0 | |
Net cash used in financing activities | (2,381,545) | 0 | |
Net change in cash and cash equivalents | (1,867,663) | 528,064 | |
Cash and cash equivalents beginning of period | 1,867,663 | 701,969 | |
Cash and cash equivalents end of period | $ 0 | $ 1,230,033 | |
[1]On January 3, 2024, the scheduled merger of the Hashdex Bitcoin Futures ETF (the "Acquired Fund"), a series of the Teucrium Commodity Trust into the Hashdex Bitcoin Futures ETF (the "Acquiring Fund") a series of Tidal Commodities Trust I, became effective, and therefore, the operations presented here reflect the Aqcuired Fund's operations from January 1, 2024 to January 3, 2024 only. |
Combined Schedule of Investment
Combined Schedule of Investments (Unaudited) | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS March 31, 2024 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.240 % $ 22,987,077 $ 22,987,077 8.28 % 22,987,077 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 82,672,927 82,672,927 29.76 82,672,927 Total money market funds $ 105,660,004 $ 105,660,004 38.04 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 1.78 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 0.90 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 4,946,334 4,970,444 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 4,929,376 4,964,688 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 0.89 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 4,955,696 4,977,084 1.79 5,000,000 The Cigna Group April 5, 2024 5.501 % 2,970,300 2,998,200 1.08 3,000,000 Crown Castle Inc. April 18, 2024 5.530 % 9,945,600 9,974,312 3.59 10,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 1.79 5,000,000 FMC Corporation April 22, 2024 5.755 % 2,487,815 2,491,746 0.90 2,500,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 1.79 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 3,465,928 3,485,545 1.25 3,500,000 Glencore Funding LLC April 16, 2024 5.490 % 7,456,125 7,483,125 2.69 7,500,000 Glencore Funding LLC April 30, 2024 5.493 % 4,964,750 4,978,250 1.79 5,000,000 Glencore Funding LLC May 10, 2024 5.475 % 7,440,597 7,456,287 2.68 7,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 0.90 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 4,943,792 4,964,376 1.79 5,000,000 National Fuel Gas Company April 4, 2024 5.544 % 7,476,113 7,496,588 2.70 7,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 4,987,734 4,997,700 1.80 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 9,865,000 9,985,000 3.59 10,000,000 VW Credit, Inc. May 16, 2024 5.402 % 4,943,320 4,966,876 1.45 5,000,000 WGL Holdings, Inc. April 15, 2024 5.616 % 4,984,640 4,989,248 1.46 5,000,000 Total Commercial Paper $ 117,915,162 $ 118,502,058 41.97 % Total Cash Equivalents $ 224,162,062 80.01 % 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 SEP24 901 $ 154,412 0.06 % $ 20,925,725 United States wheat futures contracts CBOT wheat futures SEP24 1,599 1,513,306 0.54 47,290,425 Total commodity and cryptocurrency futures contracts $ 1,667,718 0.60 % $ 68,216,150 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 JUL24 1,072 $ 2,021,501 0.73 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 0.69 24,413,025 United States soybean futures contracts CBOT soybean futures JUL24 197 308,999 0.11 11,871,713 CBOT soybean futures NOV24 172 478,846 0.17 10,201,750 CBOT soybean futures NOV25 204 7,131 0.00 11,860,050 United States sugar futures contracts ICE sugar futures JUL24 234 594,646 0.21 5,805,072 ICE sugar futures OCT24 201 83,984 0.03 4,963,896 ICE sugar futures MAR25 233 135,771 0.05 5,769,826 United States wheat futures contracts CBOT wheat futures JUL24 1,915 3,610,065 1.30 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 3.31 55,080,000 Total commodity and cryptocurrency futures contracts $ 18,352,042 6.60 % $ 209,454,595 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,661,367 1.32 % 181,115 Teucrium Soybean Fund 3,574,703 1.29 142,076 Teucrium Sugar Fund 3,605,828 1.30 267,233 Teucrium Wheat Fund 3,673,518 1.32 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 5.23 % *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, 2023 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 39,325,186 $ 39,325,186 12.50 % 39,325,186 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 80,722,654 80,722,654 25.66 80,722,654 Total money market funds $ 120,047,840 $ 120,047,840 38.16 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 1.59 % 5,000,000 Albemarle Corporation January 4, 2024 5.753 % 4,960,764 4,997,646 1.59 5,000,000 Albemarle Corporation January 8, 2024 5.738 % 4,952,302 4,994,526 1.59 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 4,956,460 4,992,083 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 4,979,416 4,993,666 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 4,933,150 4,988,062 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 3,032,227 3,040,948 0.97 3,055,000 Entergy Corporation March 1, 2024 5.665 % 7,402,875 7,430,625 2.36 7,500,000 FMC Corporation January 19, 2024 5.816 % 7,466,634 7,478,550 2.38 7,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 2.38 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 1.58 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 2.37 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 4,949,066 4,993,634 1.59 5,000,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 7,441,200 7,462,800 2.37 7,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 7,421,323 7,446,741 2.37 7,500,000 National Fuel Gas Company January 8, 2024 5.867 % 4,960,800 4,994,400 1.59 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 0.79 2,500,000 Oracle Corporation March 6, 2024 5.562 % 4,934,904 4,950,799 1.57 5,000,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 7,437,063 7,475,063 2.38 7,500,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 1.59 5,000,000 V.F. Corporation January 18, 2024 5.606 % 4,947,292 4,987,014 1.59 5,000,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 1.57 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 4,981,792 4,998,416 1.59 5,000,000 WGL Holdings, Inc. January 12, 2024 5.849 % 7,461,666 7,486,824 2.38 7,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 7,950,009 7,985,529 2.54 8,000,000 Total Commercial Paper $ 142,223,286 $ 143,041,466 45.50 % Total Cash Equivalents $ 263,089,306 83.66 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.12 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 0.60 55,243,913 United States CME Bitcoin futures contracts CME Bitcoin futures JAN24 6 129,519 0.04 1,274,550 Total commodity and cryptocurrency futures contracts $ 2,367,012 0.76 % $ 121,044,013 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 MAY24 1,171 $ 1,102,254 0.35 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.12 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.22 28,397,400 United States soybean futures contracts CBOT soybean futures MAR24 156 617,118 0.20 10,124,400 CBOT soybean futures MAY24 133 633,749 0.20 8,693,213 CBOT soybean futures NOV24 164 140,794 0.04 10,215,150 United States sugar futures contracts ICE sugar futures MAY24 270 1,051,261 0.33 6,175,008 ICE sugar futures JUL24 233 1,128,473 0.36 5,326,193 ICE sugar futures MAR25 268 508,264 0.16 6,216,314 United States wheat futures contracts CBOT wheat futures DEC24 1,924 4,575,666 1.45 64,357,800 United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 0.02 1,288,500 Total commodity and cryptocurrency futures contracts $ 10,888,842 3.45 % $ 193,412,278 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 4,567,949 1.45 % 211,348 Teucrium Soybean Fund 4,546,758 1.45 168,219 Teucrium Sugar Fund 4,624,253 1.47 371,871 Teucrium Wheat Fund 4,662,940 1.48 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 5.85 % *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 | 3 Months Ended |
Mar. 31, 2024 | |
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 10 October 30, 2023 ( January 3, 2024. 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. As reported by the registrant on a Form 8 November 7, 2023 ( No. 001 34765 October 30, 2023 ( January 3, 2024 ( one not ‘33 seven not 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 March 31, 2024 not December 31, 2024. 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 March 31, 2024 not December 31, 2024. 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 March 31, 2024 not December 31, 2024. 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 March 31, 2024 not December 31, 2024. 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 Please note that as discussed further below, as of January 3, 2024, January 3, 2024 January 3, 2024. 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 As reported by the registrant on a Form 8 November 7, 2023 ( No. 001 34765 October 30, 2023 ( January 3, 2024 ( one January 1, 2024 January 3, 2024. The sponsor of the Teucrium Trust, Teucrium Trading, LLC (“Teucrium”), is not ‘33 seven not 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 March 31, 2024 not December 31, 2024. 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 March 31, 2024 not December 31, 2024. 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 March 31, 2024 not December 31, 2024. 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 | 3 Months Ended |
Mar. 31, 2024 | |
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. Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 93,105 $ 120,560 Amount of Custody Services Waived $ 3,615 $ 7,329 Amount Recognized for Distribution Services $ 36,539 $ 38,765 Amount of Distribution Services Waived $ 1,527 $ 2,322 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ 9,706 $ 4,158 $ 2,008 $ 15,580 $ - $ 192 $ 31,644 Three months ended March 31, 2023 $ 17,270 $ 6,340 $ 6,055 $ 21,746 $ - $ 609 $ 52,020 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 105,660,004 $ 120,047,840 Demand Deposit Savings Accounts 29,533,538 29,148,056 Commercial Paper 118,502,058 143,041,466 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 253,695,600 $ 292,237,362 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 614,406 $ 591,603 Waived Related Party Transactions $ 25,585 $ 23,865 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 March 31, 2024 $ - $ - $ - $ - $ 69,538 $ 62,309 $ 131,847 Three months ended March 31, 2023 $ - $ - $ - $ - $ 125,494 $ 70,570 $ 196,064 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 March 31, 2024 December 31, 2023 no For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; 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 March 31, 2024 2023 CORN Three months ended March 31, 2024 $ 9,706 Three months ended March 31, 2023 $ 17,270 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 20,890,251 $ 26,573,542 Demand Deposit Savings Accounts 10,429,941 10,293,805 Commercial Paper 32,372,337 39,878,124 Total cash and cash equivalents as presented on the Statements of Assets and Liabilities $ 63,692,529 $ 76,745,471 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 136,525 $ 154,915 Waived Related Party Transactions $ - $ - 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. There were no three March 31, 2024 2023. 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 March 31, 2024 December 31, 2023 no 1 2 For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; 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 March 31, 2024 2023 SOYB Three months ended March 31, 2024 $ 4,158 Three months ended March 31, 2023 $ 6,340 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 12,228,166 $ 7,746,099 Demand Deposit Savings Accounts 5,470,653 5,399,248 Commercial Paper 14,953,688 14,961,842 Total cash and cash equivalents as presented on the Statements of Assets and Liabilities $ 32,652,507 $ 28,107,189 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 51,460 $ 50,267 Waived Related Party Transactions $ - $ - 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. There were no three March 31, 2024 2023. 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 March 31, 2024 December 31, 2023 no 1 2 For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; 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 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 March 31, 2024 2023 CANE Three months ended March 31, 2024 $ 2,008 Three months ended March 31, 2023 $ 6,055 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 4,050,986 $ 3,033,238 Demand Deposit Savings Accounts 3,264,927 3,222,312 Commercial Paper 7,968,046 10,518,195 Total cash and cash equivalents as presented on the Statements of Assets and Liabilities $ 15,283,959 $ 16,773,745 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 58,527 $ 23,761 Waived Related Party Transactions $ - $ - 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. There were no three March 31, 2024 2023. 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 March 31, 2024 December 31, 2023 no 1 2 For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; 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 March 31, 2024 2023 WEAT Three months ended March 31, 2024 $ 15,580 Three months ended March 31, 2023 $ 21,746 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 68,480,900 $ 80,816,091 Demand Deposit Savings Accounts 10,368,017 10,232,690 Commercial Paper 63,207,987 77,683,305 Total cash and cash equivalents as presented on the Statements of Assets and Liabilities $ 142,056,904 $ 168,732,086 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 342,309 $ 328,187 Waived Related Party Transactions $ - $ - 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. There were no three March 31, 2024 2023. 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 March 31, 2024 December 31, 2023 no 1 2 For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; 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 2021 December 31, 2023 fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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, March 31, 2024 December 31, 2023 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 25,585 $ 34,473 Waived Related Party Transactions $ 25,585 $ 23,865 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 March 31, 2024 $ 69,538 Three months ended March 31, 2023 $ 125,494 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 06 December 31, 2023. no The FASB 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 March 31, 2024 December 31, 2023 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 March 31, 2024 DEFI Three months ended March 31, 2024 $ 192 Three months ended March 31, 2023 $ 609 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, 2023 fifty not March 31, 2024 December 31, 2023 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 March 31, 2024 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, December 31, 2023 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 March 31, 2024 $ 62,309 Three months ended March 31, 2023 $ 70,570 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 March 31, 2024 December 31, 2023 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 | 3 Months Ended |
Mar. 31, 2024 | |
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. March 31, 2024 December 31, 2023 Assets: Level 1 Level 2 Level 3 Balance as of March 31, 2024 Cash Equivalents $ 224,162,062 $ - $ - $ 224,162,062 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 225,829,780 $ - $ - $ 225,829,780 Liabilities Level 1 Level 2 Level 3 Balance as of March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Soybean futures contracts 794,976 - - 794,976 Sugar futures contracts 814,401 - - 814,401 Wheat futures contracts 12,809,942 - - 12,809,942 Total $ 18,352,042 $ - $ - $ 18,352,042 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents $ 263,089,306 $ - $ - $ 263,089,306 Commodity and Cryptocurrency Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Bitcoin futures contracts 129,519 - - 129,519 Total $ 265,456,318 $ - $ - $ 265,456,318 Liabilities Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 Soybean futures contracts 1,391,661 - - 1,391,661 Sugar futures contracts 2,687,998 - - 2,687,998 Wheat futures contracts 4,575,666 - - 4,575,666 Bitcoin futures contracts 51,376 - - 51,376 Total $ 10,888,842 $ - $ - $ 10,888,842 For the three March 31, 2024 December 31, 2023 not 1 2 See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Derivative Instruments
Note 5 - Derivative Instruments and Hedging Activities | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 December 31, 2023 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 March 31, 2024 December 31, 2023 no March 31, 2024 *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 March 31, 2024 (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 $ 154,412 $ - $ 154,412 $ 154,412 $ - $ - Wheat futures contracts $ 1,513,306 $ - $ 1,513,306 $ 1,513,306 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 3,932,723 $ - $ 3,932,723 $ 154,412 $ 3,778,311 $ - Soybean futures contracts $ 794,976 $ - $ 794,976 $ - $ 794,976 $ - Sugar futures contracts $ 814,401 $ - $ 814,401 $ - $ 814,401 $ - Wheat futures contracts $ 12,809,942 $ - $ 12,809,942 $ 1,513,306 $ 11,296,636 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 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 Wheat futures contracts $ 2,237,493 $ - $ 2,237,493 $ 2,237,493 $ - $ - Bitcoin futures contracts $ 129,519 $ - $ 129,519 $ 51,376 $ - $ 78,143 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 2,182,141 $ - $ 2,182,141 $ - $ 2,182,141 $ - Soybean futures contracts $ 1,391,661 $ - $ 1,391,661 $ - $ 1,391,661 $ - Sugar futures contracts $ 2,687,998 $ - $ 2,687,998 $ - $ 2,687,998 $ - Wheat futures contracts $ 4,575,666 $ - $ 4,575,666 $ 2,237,493 $ 2,338,173 $ - Bitcoin futures contracts $ 51,376 $ - $ 51,376 $ 51,376 $ - $ - The following is a summary of realized and unrealized gains (losses) of the derivative instruments utilized by the Trust: Three months ended March 31, 2024 Realized Loss on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (3,964,335 ) $ (1,596,170 ) Soybeans futures contracts (2,632,854 ) 596,685 Sugar futures contracts (482,314 ) 1,873,597 Wheat futures contracts (10,037,305 ) (8,958,463 ) Bitcoin futures Contracts (78,143 ) 114,383 Total commodity and cryptocurrency futures contracts $ (17,194,951 ) $ (7,969,968 ) Three months ended March 31, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (6,268,935 ) $ (3,299,360 ) Soybeans futures contracts 1,067,543 (3,699,642 ) Sugar futures contracts 1,339,448 3,139,817 Wheat futures contracts (23,358,733 ) (2,092,562 ) Bitcoin futures Contracts 629,551 128,468 Total commodity and cryptocurrency futures contracts $ (26,591,126 ) $ (5,823,279 ) Volume of Derivative Activities The average notional market value categorized by primary underlying risk for the futures contracts held was $277.8 million for the three March 31, 2024 three March 31, 2023 |
Note 6 - Organizational and Off
Note 6 - Organizational and Offering Costs | 3 Months Ended |
Mar. 31, 2024 | |
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 | 3 Months Ended |
Mar. 31, 2024 | |
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: March 31, 2024 Outstanding Shares Net Assets Teucrium Corn Fund 3,450,004 $ 69,744,097 Teucrium Soybean Fund 1,350,004 33,966,763 Teucrium Sugar Fund 1,225,004 16,529,172 Teucrium Wheat Fund 29,250,004 157,537,309 Teucrium Agricultural Fund: 512,502 Net assets including the investment in the Underlying Funds 14,526,883 Less: Investment in the Underlying Funds (14,515,416 ) Net for the Fund in the combined net assets of the Trust 11,467 Total $ 277,788,808 December 31, 2023 Outstanding Shares Net Assets Teucrium Corn Fund 3,750,004 $ 81,050,442 Teucrium Soybean Fund 1,075,004 29,056,020 Teucrium Sugar Fund 1,425,004 17,720,099 Teucrium Wheat Fund 30,800,004 184,176,669 Hashdex Bitcoin Futures ETF 50,000 2,536,958 Teucrium Agricultural Fund: 625,002 Net assets including the investment in the Underlying Funds 18,409,126 Less: Investment in the Underlying Funds (18,401,900 ) Net for the Fund in the combined net assets of the Trust 7,226 Total $ 314,547,414 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 | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended March 31, 2024 no Trust: Legal Matters: April 26, 2024 May 17, 2024. Dale Riker v. Sal Gilbertie et al. 656794/2020 Sal Gilbertie, et. al. v. Dale Riker, et al. 2020 1018 Dale Riker, et al. v. Teucrium Trading, LLC 2022 1030 CORN: Nothing to report. SOYB: Nothing to report. CANE: The net assets of the fund decreased by $3,645,989, or 22.1%, for the period March 31, 2024 May 9, 2024. WEAT: Nothing to report. TAGS: Nothing to report. DEFI: Nothing to report. |
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 March 31, 2024 no The net assets of the fund decreased by $3,645,989, or 22.1%, for the period March 31, 2024 May 9, 2024. |
Schedule of Investments (Unaudi
Schedule of Investments (Unaudited) - Teucrium Corn Fund | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS March 31, 2024 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.240 % $ 22,987,077 $ 22,987,077 8.28 % 22,987,077 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 82,672,927 82,672,927 29.76 82,672,927 Total money market funds $ 105,660,004 $ 105,660,004 38.04 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 1.78 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 0.90 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 4,946,334 4,970,444 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 4,929,376 4,964,688 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 0.89 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 4,955,696 4,977,084 1.79 5,000,000 The Cigna Group April 5, 2024 5.501 % 2,970,300 2,998,200 1.08 3,000,000 Crown Castle Inc. April 18, 2024 5.530 % 9,945,600 9,974,312 3.59 10,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 1.79 5,000,000 FMC Corporation April 22, 2024 5.755 % 2,487,815 2,491,746 0.90 2,500,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 1.79 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 3,465,928 3,485,545 1.25 3,500,000 Glencore Funding LLC April 16, 2024 5.490 % 7,456,125 7,483,125 2.69 7,500,000 Glencore Funding LLC April 30, 2024 5.493 % 4,964,750 4,978,250 1.79 5,000,000 Glencore Funding LLC May 10, 2024 5.475 % 7,440,597 7,456,287 2.68 7,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 0.90 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 4,943,792 4,964,376 1.79 5,000,000 National Fuel Gas Company April 4, 2024 5.544 % 7,476,113 7,496,588 2.70 7,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 4,987,734 4,997,700 1.80 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 9,865,000 9,985,000 3.59 10,000,000 VW Credit, Inc. May 16, 2024 5.402 % 4,943,320 4,966,876 1.45 5,000,000 WGL Holdings, Inc. April 15, 2024 5.616 % 4,984,640 4,989,248 1.46 5,000,000 Total Commercial Paper $ 117,915,162 $ 118,502,058 41.97 % Total Cash Equivalents $ 224,162,062 80.01 % 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 SEP24 901 $ 154,412 0.06 % $ 20,925,725 United States wheat futures contracts CBOT wheat futures SEP24 1,599 1,513,306 0.54 47,290,425 Total commodity and cryptocurrency futures contracts $ 1,667,718 0.60 % $ 68,216,150 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 JUL24 1,072 $ 2,021,501 0.73 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 0.69 24,413,025 United States soybean futures contracts CBOT soybean futures JUL24 197 308,999 0.11 11,871,713 CBOT soybean futures NOV24 172 478,846 0.17 10,201,750 CBOT soybean futures NOV25 204 7,131 0.00 11,860,050 United States sugar futures contracts ICE sugar futures JUL24 234 594,646 0.21 5,805,072 ICE sugar futures OCT24 201 83,984 0.03 4,963,896 ICE sugar futures MAR25 233 135,771 0.05 5,769,826 United States wheat futures contracts CBOT wheat futures JUL24 1,915 3,610,065 1.30 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 3.31 55,080,000 Total commodity and cryptocurrency futures contracts $ 18,352,042 6.60 % $ 209,454,595 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,661,367 1.32 % 181,115 Teucrium Soybean Fund 3,574,703 1.29 142,076 Teucrium Sugar Fund 3,605,828 1.30 267,233 Teucrium Wheat Fund 3,673,518 1.32 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 5.23 % *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, 2023 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 39,325,186 $ 39,325,186 12.50 % 39,325,186 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 80,722,654 80,722,654 25.66 80,722,654 Total money market funds $ 120,047,840 $ 120,047,840 38.16 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 1.59 % 5,000,000 Albemarle Corporation January 4, 2024 5.753 % 4,960,764 4,997,646 1.59 5,000,000 Albemarle Corporation January 8, 2024 5.738 % 4,952,302 4,994,526 1.59 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 4,956,460 4,992,083 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 4,979,416 4,993,666 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 4,933,150 4,988,062 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 3,032,227 3,040,948 0.97 3,055,000 Entergy Corporation March 1, 2024 5.665 % 7,402,875 7,430,625 2.36 7,500,000 FMC Corporation January 19, 2024 5.816 % 7,466,634 7,478,550 2.38 7,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 2.38 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 1.58 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 2.37 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 4,949,066 4,993,634 1.59 5,000,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 7,441,200 7,462,800 2.37 7,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 7,421,323 7,446,741 2.37 7,500,000 National Fuel Gas Company January 8, 2024 5.867 % 4,960,800 4,994,400 1.59 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 0.79 2,500,000 Oracle Corporation March 6, 2024 5.562 % 4,934,904 4,950,799 1.57 5,000,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 7,437,063 7,475,063 2.38 7,500,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 1.59 5,000,000 V.F. Corporation January 18, 2024 5.606 % 4,947,292 4,987,014 1.59 5,000,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 1.57 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 4,981,792 4,998,416 1.59 5,000,000 WGL Holdings, Inc. January 12, 2024 5.849 % 7,461,666 7,486,824 2.38 7,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 7,950,009 7,985,529 2.54 8,000,000 Total Commercial Paper $ 142,223,286 $ 143,041,466 45.50 % Total Cash Equivalents $ 263,089,306 83.66 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.12 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 0.60 55,243,913 United States CME Bitcoin futures contracts CME Bitcoin futures JAN24 6 129,519 0.04 1,274,550 Total commodity and cryptocurrency futures contracts $ 2,367,012 0.76 % $ 121,044,013 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 MAY24 1,171 $ 1,102,254 0.35 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.12 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.22 28,397,400 United States soybean futures contracts CBOT soybean futures MAR24 156 617,118 0.20 10,124,400 CBOT soybean futures MAY24 133 633,749 0.20 8,693,213 CBOT soybean futures NOV24 164 140,794 0.04 10,215,150 United States sugar futures contracts ICE sugar futures MAY24 270 1,051,261 0.33 6,175,008 ICE sugar futures JUL24 233 1,128,473 0.36 5,326,193 ICE sugar futures MAR25 268 508,264 0.16 6,216,314 United States wheat futures contracts CBOT wheat futures DEC24 1,924 4,575,666 1.45 64,357,800 United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 0.02 1,288,500 Total commodity and cryptocurrency futures contracts $ 10,888,842 3.45 % $ 193,412,278 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 4,567,949 1.45 % 211,348 Teucrium Soybean Fund 4,546,758 1.45 168,219 Teucrium Sugar Fund 4,624,253 1.47 371,871 Teucrium Wheat Fund 4,662,940 1.48 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 5.85 % *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 March 31, 2024 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.240 % $ 3,095,240 $ 3,095,240 4.44 % 3,095,240 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 17,795,011 17,795,011 25.51 17,795,011 Total money market funds $ 20,890,251 $ 20,890,251 29.95 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 2,473,167 $ 2,485,222 3.56 % 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 3.56 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 2,464,688 2,482,344 3.56 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 2,477,848 2,488,542 3.57 2,500,000 Crown Castle Inc. April 18, 2024 5.530 % 4,972,800 4,987,156 7.15 5,000,000 Glencore Funding LLC April 16, 2024 5.490 % 2,485,375 2,494,375 3.58 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 2,471,896 2,482,188 3.56 2,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 2,493,867 2,498,850 3.58 2,500,000 VW Credit, Inc. April 11, 2024 5.511 % 4,932,500 4,992,500 7.16 5,000,000 VW Credit, Inc. May 16, 2024 5.402 % 2,471,660 2,483,438 3.56 2,500,000 WGL Holdings, Inc. April 15, 2024 5.616 % 2,492,320 2,494,624 3.58 2,500,000 Total Commercial Paper $ 32,200,746 $ 32,372,337 46.42 % Total Cash Equivalents $ 53,262,588 76.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT Corn Futures SEP24 901 $ 154,412 0.22 % $ 20,925,725 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 JUL24 1,072 $ 2,021,501 2.90 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 2.74 24,413,025 Total commodity futures contracts $ 3,932,723 5.64 % $ 48,774,225 The accompanying notes are an integral part of these financial statements. TEUCRIUM CORN FUND SCHEDULE OF INVESTMENTS December 31, 2023 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 7,523,423 $ 7,523,423 9.28 % 7,523,423 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 19,050,119 19,050,119 23.51 19,050,119 Total money market funds $ 26,573,542 $ 26,573,542 32.79 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 6.17 % 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 2,478,230 2,496,042 3.08 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 2,489,708 2,496,833 3.08 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 2,466,575 2,494,031 3.08 2,500,000 Entergy Corporation March 1, 2024 5.665 % 2,467,625 2,476,875 3.06 2,500,000 FMC Corporation January 19, 2024 5.816 % 2,488,878 2,492,850 3.07 2,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 2,474,533 2,496,817 3.08 2,500,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 2,480,400 2,487,600 3.07 2,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 2,473,774 2,482,247 3.06 2,500,000 National Fuel Gas Company January 8, 2024 5.867 % 2,480,400 2,497,200 3.08 2,500,000 Oracle Corporation March 6, 2024 5.562 % 2,467,452 2,475,400 3.05 2,500,000 V.F. Corporation January 18, 2024 5.606 % 2,473,646 2,493,507 3.08 2,500,000 WGL Holdings, Inc. January 3, 2024 5.793 % 2,490,896 2,499,208 3.08 2,500,000 WGL Holdings, Inc. January 12, 2024 5.849 % 2,487,222 2,495,608 3.08 2,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 2,484,378 2,495,478 3.08 2,500,000 Total Commercial Paper $ 39,654,192 $ 39,878,124 49.20 % Total Cash Equivalents $ 66,451,666 81.99 % 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 MAY24 1,171 $ 1,102,254 1.36 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.47 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.86 28,397,400 Total commodity futures contracts $ 2,182,141 2.69 % $ 81,015,700 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 10 October 30, 2023 ( January 3, 2024. 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. As reported by the registrant on a Form 8 November 7, 2023 ( No. 001 34765 October 30, 2023 ( January 3, 2024 ( one not ‘33 seven not 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 March 31, 2024 not December 31, 2024. 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 March 31, 2024 not December 31, 2024. 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 | 3 Months Ended |
Mar. 31, 2024 | |
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. Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 93,105 $ 120,560 Amount of Custody Services Waived $ 3,615 $ 7,329 Amount Recognized for Distribution Services $ 36,539 $ 38,765 Amount of Distribution Services Waived $ 1,527 $ 2,322 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
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. Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 21,972 $ 33,044 Amount of Custody Services Waived $ - $ - Amount Recognized for Distribution Services $ 8,128 $ 10,053 Amount of Distribution Services Waived $ - $ - Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies - Teucrium Corn Fund | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ 9,706 $ 4,158 $ 2,008 $ 15,580 $ - $ 192 $ 31,644 Three months ended March 31, 2023 $ 17,270 $ 6,340 $ 6,055 $ 21,746 $ - $ 609 $ 52,020 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 105,660,004 $ 120,047,840 Demand Deposit Savings Accounts 29,533,538 29,148,056 Commercial Paper 118,502,058 143,041,466 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 253,695,600 $ 292,237,362 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 614,406 $ 591,603 Waived Related Party Transactions $ 25,585 $ 23,865 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 March 31, 2024 $ - $ - $ - $ - $ 69,538 $ 62,309 $ 131,847 Three months ended March 31, 2023 $ - $ - $ - $ - $ 125,494 $ 70,570 $ 196,064 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 March 31, 2024 December 31, 2023 no For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; 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 March 31, 2024 2023 CORN Three months ended March 31, 2024 $ 9,706 Three months ended March 31, 2023 $ 17,270 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 20,890,251 $ 26,573,542 Demand Deposit Savings Accounts 10,429,941 10,293,805 Commercial Paper 32,372,337 39,878,124 Total cash and cash equivalents as presented on the Statements of Assets and Liabilities $ 63,692,529 $ 76,745,471 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 136,525 $ 154,915 Waived Related Party Transactions $ - $ - 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. There were no three March 31, 2024 2023. 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 March 31, 2024 December 31, 2023 no 1 2 For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; not |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements - Teucrium Corn Fund | 3 Months Ended |
Mar. 31, 2024 | |
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. March 31, 2024 December 31, 2023 Assets: Level 1 Level 2 Level 3 Balance as of March 31, 2024 Cash Equivalents $ 224,162,062 $ - $ - $ 224,162,062 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 225,829,780 $ - $ - $ 225,829,780 Liabilities Level 1 Level 2 Level 3 Balance as of March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Soybean futures contracts 794,976 - - 794,976 Sugar futures contracts 814,401 - - 814,401 Wheat futures contracts 12,809,942 - - 12,809,942 Total $ 18,352,042 $ - $ - $ 18,352,042 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents $ 263,089,306 $ - $ - $ 263,089,306 Commodity and Cryptocurrency Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Bitcoin futures contracts 129,519 - - 129,519 Total $ 265,456,318 $ - $ - $ 265,456,318 Liabilities Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 Soybean futures contracts 1,391,661 - - 1,391,661 Sugar futures contracts 2,687,998 - - 2,687,998 Wheat futures contracts 4,575,666 - - 4,575,666 Bitcoin futures contracts 51,376 - - 51,376 Total $ 10,888,842 $ - $ - $ 10,888,842 For the three March 31, 2024 December 31, 2023 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. March 31, 2024 December 31, 2023 March 31, 2024 Balance as of Assets: Level 1 Level 2 Level 3 March 31, 2024 Cash Equivalents $ 53,262,588 $ - $ - $ 53,262,588 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Total $ 53,417,000 $ - $ - $ 53,417,000 Balance as of Liabilities Level 1 Level 2 Level 3 March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 December 31, 2023 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2023 Cash Equivalents $ 66,451,666 $ - $ - $ 66,451,666 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2023 Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 For the three March 31, 2024 December 31, 2023 not See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Derivative Instrumen_2
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Corn Fund | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 December 31, 2023 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 March 31, 2024 December 31, 2023 no March 31, 2024 *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 March 31, 2024 (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 $ 154,412 $ - $ 154,412 $ 154,412 $ - $ - Wheat futures contracts $ 1,513,306 $ - $ 1,513,306 $ 1,513,306 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 3,932,723 $ - $ 3,932,723 $ 154,412 $ 3,778,311 $ - Soybean futures contracts $ 794,976 $ - $ 794,976 $ - $ 794,976 $ - Sugar futures contracts $ 814,401 $ - $ 814,401 $ - $ 814,401 $ - Wheat futures contracts $ 12,809,942 $ - $ 12,809,942 $ 1,513,306 $ 11,296,636 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 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 Wheat futures contracts $ 2,237,493 $ - $ 2,237,493 $ 2,237,493 $ - $ - Bitcoin futures contracts $ 129,519 $ - $ 129,519 $ 51,376 $ - $ 78,143 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 2,182,141 $ - $ 2,182,141 $ - $ 2,182,141 $ - Soybean futures contracts $ 1,391,661 $ - $ 1,391,661 $ - $ 1,391,661 $ - Sugar futures contracts $ 2,687,998 $ - $ 2,687,998 $ - $ 2,687,998 $ - Wheat futures contracts $ 4,575,666 $ - $ 4,575,666 $ 2,237,493 $ 2,338,173 $ - Bitcoin futures contracts $ 51,376 $ - $ 51,376 $ 51,376 $ - $ - The following is a summary of realized and unrealized gains (losses) of the derivative instruments utilized by the Trust: Three months ended March 31, 2024 Realized Loss on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (3,964,335 ) $ (1,596,170 ) Soybeans futures contracts (2,632,854 ) 596,685 Sugar futures contracts (482,314 ) 1,873,597 Wheat futures contracts (10,037,305 ) (8,958,463 ) Bitcoin futures Contracts (78,143 ) 114,383 Total commodity and cryptocurrency futures contracts $ (17,194,951 ) $ (7,969,968 ) Three months ended March 31, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (6,268,935 ) $ (3,299,360 ) Soybeans futures contracts 1,067,543 (3,699,642 ) Sugar futures contracts 1,339,448 3,139,817 Wheat futures contracts (23,358,733 ) (2,092,562 ) Bitcoin futures Contracts 629,551 128,468 Total commodity and cryptocurrency futures contracts $ (26,591,126 ) $ (5,823,279 ) Volume of Derivative Activities The average notional market value categorized by primary underlying risk for the futures contracts held was $277.8 million for the three March 31, 2024 three March 31, 2023 |
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 March 31, 2024 December 31, 2023 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 March 31, 2024 December 31, 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 March 31, 2024 (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 $ 154,412 $ - $ 154,412 $ 154,412 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 3,932,723 $ - $ 3,932,723 $ 154,412 $ 3,778,311 $ - Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 2,182,141 $ - $ 2,182,141 $ - $ 2,182,141 $ - 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 March 31, 2024 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (3,964,335 ) $ (1,596,170 ) Three months ended March 31, 2023 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (6,268,935 ) $ (3,299,360 ) Volume of Derivative Activities The average notional market value categorized by primary underlying risk for the futures contracts held was $69.4 million for the three March 31, 2024 three March 31, 2023 |
Note 6 - Financial Highlights -
Note 6 - Financial Highlights - Teucrium Corn Fund | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 Three months ended Three months ended March 31, 2024 March 31, 2023 Per Share Operation Performance Net asset value at beginning of period $ 21.61 $ 26.90 Income from investment operations: Interest income 0.27 0.28 Net realized and unrealized loss on commodity futures contracts (1.53 ) (1.77 ) Total expenses, net (0.13 ) (0.14 ) Net decrease in net asset value (1.39 ) (1.63 ) Net asset value at end of period $ 20.22 $ 25.27 Total Return -6.47 % -6.03 % Ratios to Average Net Assets (Annualized) Total expenses 2.72 % 2.13 % Total expenses, net 2.72 % 2.13 % Net investment income 2.60 % 2.29 % 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended March 31, 2024 no Trust: Legal Matters: April 26, 2024 May 17, 2024. Dale Riker v. Sal Gilbertie et al. 656794/2020 Sal Gilbertie, et. al. v. Dale Riker, et al. 2020 1018 Dale Riker, et al. v. Teucrium Trading, LLC 2022 1030 CORN: Nothing to report. SOYB: Nothing to report. CANE: The net assets of the fund decreased by $3,645,989, or 22.1%, for the period March 31, 2024 May 9, 2024. WEAT: Nothing to report. TAGS: Nothing to report. DEFI: Nothing to report. |
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 March 31, 2024 no |
Schedule of Investments (Unau_2
Schedule of Investments (Unaudited) - Teucrium Soybean Fund | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS March 31, 2024 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.240 % $ 22,987,077 $ 22,987,077 8.28 % 22,987,077 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 82,672,927 82,672,927 29.76 82,672,927 Total money market funds $ 105,660,004 $ 105,660,004 38.04 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 1.78 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 0.90 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 4,946,334 4,970,444 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 4,929,376 4,964,688 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 0.89 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 4,955,696 4,977,084 1.79 5,000,000 The Cigna Group April 5, 2024 5.501 % 2,970,300 2,998,200 1.08 3,000,000 Crown Castle Inc. April 18, 2024 5.530 % 9,945,600 9,974,312 3.59 10,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 1.79 5,000,000 FMC Corporation April 22, 2024 5.755 % 2,487,815 2,491,746 0.90 2,500,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 1.79 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 3,465,928 3,485,545 1.25 3,500,000 Glencore Funding LLC April 16, 2024 5.490 % 7,456,125 7,483,125 2.69 7,500,000 Glencore Funding LLC April 30, 2024 5.493 % 4,964,750 4,978,250 1.79 5,000,000 Glencore Funding LLC May 10, 2024 5.475 % 7,440,597 7,456,287 2.68 7,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 0.90 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 4,943,792 4,964,376 1.79 5,000,000 National Fuel Gas Company April 4, 2024 5.544 % 7,476,113 7,496,588 2.70 7,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 4,987,734 4,997,700 1.80 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 9,865,000 9,985,000 3.59 10,000,000 VW Credit, Inc. May 16, 2024 5.402 % 4,943,320 4,966,876 1.45 5,000,000 WGL Holdings, Inc. April 15, 2024 5.616 % 4,984,640 4,989,248 1.46 5,000,000 Total Commercial Paper $ 117,915,162 $ 118,502,058 41.97 % Total Cash Equivalents $ 224,162,062 80.01 % 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 SEP24 901 $ 154,412 0.06 % $ 20,925,725 United States wheat futures contracts CBOT wheat futures SEP24 1,599 1,513,306 0.54 47,290,425 Total commodity and cryptocurrency futures contracts $ 1,667,718 0.60 % $ 68,216,150 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 JUL24 1,072 $ 2,021,501 0.73 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 0.69 24,413,025 United States soybean futures contracts CBOT soybean futures JUL24 197 308,999 0.11 11,871,713 CBOT soybean futures NOV24 172 478,846 0.17 10,201,750 CBOT soybean futures NOV25 204 7,131 0.00 11,860,050 United States sugar futures contracts ICE sugar futures JUL24 234 594,646 0.21 5,805,072 ICE sugar futures OCT24 201 83,984 0.03 4,963,896 ICE sugar futures MAR25 233 135,771 0.05 5,769,826 United States wheat futures contracts CBOT wheat futures JUL24 1,915 3,610,065 1.30 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 3.31 55,080,000 Total commodity and cryptocurrency futures contracts $ 18,352,042 6.60 % $ 209,454,595 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,661,367 1.32 % 181,115 Teucrium Soybean Fund 3,574,703 1.29 142,076 Teucrium Sugar Fund 3,605,828 1.30 267,233 Teucrium Wheat Fund 3,673,518 1.32 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 5.23 % *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, 2023 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 39,325,186 $ 39,325,186 12.50 % 39,325,186 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 80,722,654 80,722,654 25.66 80,722,654 Total money market funds $ 120,047,840 $ 120,047,840 38.16 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 1.59 % 5,000,000 Albemarle Corporation January 4, 2024 5.753 % 4,960,764 4,997,646 1.59 5,000,000 Albemarle Corporation January 8, 2024 5.738 % 4,952,302 4,994,526 1.59 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 4,956,460 4,992,083 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 4,979,416 4,993,666 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 4,933,150 4,988,062 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 3,032,227 3,040,948 0.97 3,055,000 Entergy Corporation March 1, 2024 5.665 % 7,402,875 7,430,625 2.36 7,500,000 FMC Corporation January 19, 2024 5.816 % 7,466,634 7,478,550 2.38 7,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 2.38 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 1.58 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 2.37 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 4,949,066 4,993,634 1.59 5,000,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 7,441,200 7,462,800 2.37 7,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 7,421,323 7,446,741 2.37 7,500,000 National Fuel Gas Company January 8, 2024 5.867 % 4,960,800 4,994,400 1.59 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 0.79 2,500,000 Oracle Corporation March 6, 2024 5.562 % 4,934,904 4,950,799 1.57 5,000,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 7,437,063 7,475,063 2.38 7,500,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 1.59 5,000,000 V.F. Corporation January 18, 2024 5.606 % 4,947,292 4,987,014 1.59 5,000,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 1.57 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 4,981,792 4,998,416 1.59 5,000,000 WGL Holdings, Inc. January 12, 2024 5.849 % 7,461,666 7,486,824 2.38 7,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 7,950,009 7,985,529 2.54 8,000,000 Total Commercial Paper $ 142,223,286 $ 143,041,466 45.50 % Total Cash Equivalents $ 263,089,306 83.66 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.12 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 0.60 55,243,913 United States CME Bitcoin futures contracts CME Bitcoin futures JAN24 6 129,519 0.04 1,274,550 Total commodity and cryptocurrency futures contracts $ 2,367,012 0.76 % $ 121,044,013 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 MAY24 1,171 $ 1,102,254 0.35 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.12 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.22 28,397,400 United States soybean futures contracts CBOT soybean futures MAR24 156 617,118 0.20 10,124,400 CBOT soybean futures MAY24 133 633,749 0.20 8,693,213 CBOT soybean futures NOV24 164 140,794 0.04 10,215,150 United States sugar futures contracts ICE sugar futures MAY24 270 1,051,261 0.33 6,175,008 ICE sugar futures JUL24 233 1,128,473 0.36 5,326,193 ICE sugar futures MAR25 268 508,264 0.16 6,216,314 United States wheat futures contracts CBOT wheat futures DEC24 1,924 4,575,666 1.45 64,357,800 United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 0.02 1,288,500 Total commodity and cryptocurrency futures contracts $ 10,888,842 3.45 % $ 193,412,278 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 4,567,949 1.45 % 211,348 Teucrium Soybean Fund 4,546,758 1.45 168,219 Teucrium Sugar Fund 4,624,253 1.47 371,871 Teucrium Wheat Fund 4,662,940 1.48 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 5.85 % *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 March 31, 2024 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 5.240 % $ 7,780,493 $ 7,780,493 22.91 % 7,780,493 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 4,447,673 4,447,673 13.09 4,447,673 Total money market funds $ 12,228,166 $ 12,228,166 36.00 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper FMC Corporation April 22, 2024 5.755 % $ 2,487,815 $ 2,491,746 7.34 % 2,500,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 2,475,663 2,489,675 7.33 2,500,000 Glencore Funding LLC April 30, 2024 5.493 % 2,482,375 2,489,125 7.33 2,500,000 Glencore Funding LLC May 10, 2024 5.475 % 2,480,199 2,485,429 7.32 2,500,000 National Fuel Gas Company April 4, 2024 5.544 % 2,492,038 2,498,863 7.36 2,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 2,493,867 2,498,850 7.36 2,500,000 Total Commercial Paper $ 14,911,957 $ 14,953,688 44.04 % Total Cash Equivalents $ 27,181,854 80.04 % 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 JUL24 197 $ 308,999 0.91 % $ 11,871,713 CBOT soybean futures NOV24 172 478,846 1.41 10,201,750 CBOT soybean futures NOV25 204 7,131 0.02 11,860,050 Total commodity futures contracts $ 794,976 2.34 % $ 33,933,513 The accompanying notes are an integral part of these financial statements. TEUCRIUM SOYBEAN FUND SCHEDULE OF INVESTMENTS December 31, 2023 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 1,075,007 $ 1,075,007 3.70 % 1,075,007 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 6,671,092 6,671,092 22.96 6,671,092 Total money market funds $ 7,746,099 $ 7,746,099 26.66 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 8, 2024 5.738 % $ 2,476,151 $ 2,497,263 8.59 % 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 2,489,708 2,496,833 8.59 2,500,000 FMC Corporation January 19, 2024 5.816 % 2,488,878 2,492,850 8.58 2,500,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 2,480,400 2,487,600 8.56 2,500,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 2,479,021 2,491,688 8.58 2,500,000 WGL Holdings, Inc. January 12, 2024 5.849 % 2,487,222 2,495,608 8.59 2,500,000 Total Commercial Paper $ 14,901,380 $ 14,961,842 51.49 % Total Cash Equivalents $ 22,707,941 78.15 % 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 156 $ 617,118 2.12 % $ 10,124,400 CBOT soybean futures MAY24 133 633,749 2.18 8,693,213 CBOT soybean futures NOV24 164 140,794 0.48 10,215,150 Total commodity futures contracts $ 1,391,661 4.78 % $ 29,032,763 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 10 October 30, 2023 ( January 3, 2024. 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. As reported by the registrant on a Form 8 November 7, 2023 ( No. 001 34765 October 30, 2023 ( January 3, 2024 ( one not ‘33 seven not 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 March 31, 2024 not December 31, 2024. 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 March 31, 2024 not December 31, 2024. 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 | 3 Months Ended |
Mar. 31, 2024 | |
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. Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 93,105 $ 120,560 Amount of Custody Services Waived $ 3,615 $ 7,329 Amount Recognized for Distribution Services $ 36,539 $ 38,765 Amount of Distribution Services Waived $ 1,527 $ 2,322 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
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. Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 8,486 $ 3,441 Amount of Custody Services Waived $ - $ - Amount Recognized for Distribution Services $ 3,063 $ 3,266 Amount of Distribution Services Waived $ - $ - Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Note 3 - Summary of Significa_3
Note 3 - Summary of Significant Accounting Policies - Teucrium Soybean Fund | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ 9,706 $ 4,158 $ 2,008 $ 15,580 $ - $ 192 $ 31,644 Three months ended March 31, 2023 $ 17,270 $ 6,340 $ 6,055 $ 21,746 $ - $ 609 $ 52,020 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 105,660,004 $ 120,047,840 Demand Deposit Savings Accounts 29,533,538 29,148,056 Commercial Paper 118,502,058 143,041,466 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 253,695,600 $ 292,237,362 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 614,406 $ 591,603 Waived Related Party Transactions $ 25,585 $ 23,865 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 March 31, 2024 $ - $ - $ - $ - $ 69,538 $ 62,309 $ 131,847 Three months ended March 31, 2023 $ - $ - $ - $ - $ 125,494 $ 70,570 $ 196,064 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 March 31, 2024 December 31, 2023 no For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; 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 March 31, 2024 2023 SOYB Three months ended March 31, 2024 $ 4,158 Three months ended March 31, 2023 $ 6,340 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 12,228,166 $ 7,746,099 Demand Deposit Savings Accounts 5,470,653 5,399,248 Commercial Paper 14,953,688 14,961,842 Total cash and cash equivalents as presented on the Statements of Assets and Liabilities $ 32,652,507 $ 28,107,189 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 51,460 $ 50,267 Waived Related Party Transactions $ - $ - 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. There were no three March 31, 2024 2023. 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 March 31, 2024 December 31, 2023 no 1 2 For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; not |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements - Teucrium Soybean Fund | 3 Months Ended |
Mar. 31, 2024 | |
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. March 31, 2024 December 31, 2023 Assets: Level 1 Level 2 Level 3 Balance as of March 31, 2024 Cash Equivalents $ 224,162,062 $ - $ - $ 224,162,062 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 225,829,780 $ - $ - $ 225,829,780 Liabilities Level 1 Level 2 Level 3 Balance as of March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Soybean futures contracts 794,976 - - 794,976 Sugar futures contracts 814,401 - - 814,401 Wheat futures contracts 12,809,942 - - 12,809,942 Total $ 18,352,042 $ - $ - $ 18,352,042 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents $ 263,089,306 $ - $ - $ 263,089,306 Commodity and Cryptocurrency Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Bitcoin futures contracts 129,519 - - 129,519 Total $ 265,456,318 $ - $ - $ 265,456,318 Liabilities Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 Soybean futures contracts 1,391,661 - - 1,391,661 Sugar futures contracts 2,687,998 - - 2,687,998 Wheat futures contracts 4,575,666 - - 4,575,666 Bitcoin futures contracts 51,376 - - 51,376 Total $ 10,888,842 $ - $ - $ 10,888,842 For the three March 31, 2024 December 31, 2023 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. March 31, 2024 December 31, 2023 March 31, 2024 Balance as of Assets: Level 1 Level 2 Level 3 March 31, 2024 Cash Equivalents $ 27,181,854 $ - $ - $ 27,181,854 Balance as of Liabilities Level 1 Level 2 Level 3 March 31, 2024 Commodity Futures Contracts Soybean futures contracts $ 794,976 $ - $ - $ 794,976 December 31, 2023 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2023 Cash Equivalents $ 22,707,941 $ - $ - $ 22,707,941 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2023 Soybean futures contracts $ 1,391,661 $ - $ - $ 1,391,661 For the three March 31, 2024 December 31, 2023 not See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Derivative Instrumen_3
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Soybean Fund | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 December 31, 2023 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 March 31, 2024 December 31, 2023 no March 31, 2024 *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 March 31, 2024 (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 $ 154,412 $ - $ 154,412 $ 154,412 $ - $ - Wheat futures contracts $ 1,513,306 $ - $ 1,513,306 $ 1,513,306 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 3,932,723 $ - $ 3,932,723 $ 154,412 $ 3,778,311 $ - Soybean futures contracts $ 794,976 $ - $ 794,976 $ - $ 794,976 $ - Sugar futures contracts $ 814,401 $ - $ 814,401 $ - $ 814,401 $ - Wheat futures contracts $ 12,809,942 $ - $ 12,809,942 $ 1,513,306 $ 11,296,636 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 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 Wheat futures contracts $ 2,237,493 $ - $ 2,237,493 $ 2,237,493 $ - $ - Bitcoin futures contracts $ 129,519 $ - $ 129,519 $ 51,376 $ - $ 78,143 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 2,182,141 $ - $ 2,182,141 $ - $ 2,182,141 $ - Soybean futures contracts $ 1,391,661 $ - $ 1,391,661 $ - $ 1,391,661 $ - Sugar futures contracts $ 2,687,998 $ - $ 2,687,998 $ - $ 2,687,998 $ - Wheat futures contracts $ 4,575,666 $ - $ 4,575,666 $ 2,237,493 $ 2,338,173 $ - Bitcoin futures contracts $ 51,376 $ - $ 51,376 $ 51,376 $ - $ - The following is a summary of realized and unrealized gains (losses) of the derivative instruments utilized by the Trust: Three months ended March 31, 2024 Realized Loss on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (3,964,335 ) $ (1,596,170 ) Soybeans futures contracts (2,632,854 ) 596,685 Sugar futures contracts (482,314 ) 1,873,597 Wheat futures contracts (10,037,305 ) (8,958,463 ) Bitcoin futures Contracts (78,143 ) 114,383 Total commodity and cryptocurrency futures contracts $ (17,194,951 ) $ (7,969,968 ) Three months ended March 31, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (6,268,935 ) $ (3,299,360 ) Soybeans futures contracts 1,067,543 (3,699,642 ) Sugar futures contracts 1,339,448 3,139,817 Wheat futures contracts (23,358,733 ) (2,092,562 ) Bitcoin futures Contracts 629,551 128,468 Total commodity and cryptocurrency futures contracts $ (26,591,126 ) $ (5,823,279 ) Volume of Derivative Activities The average notional market value categorized by primary underlying risk for the futures contracts held was $277.8 million for the three March 31, 2024 three March 31, 2023 |
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 March 31, 2024 December 31, 2023 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 March 31, 2024 December 31, 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 Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 794,976 $ - $ 794,976 $ - $ 794,976 $ - Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 1,391,661 $ - $ 1,391,661 $ - $ 1,391,661 $ - The following is a summary of realized and unrealized gains and losses of the derivative instruments utilized by the Fund: Three months ended March 31, 2024 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ (2,632,854 ) $ 596,685 Three months ended March 31, 2023 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 1,067,543 $ (3,699,642 ) Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $29.1 million for the three March 31, 2024 three March 31, 2023 |
Note 6 - Financial Highlights_2
Note 6 - Financial Highlights - Teucrium Soybean Fund | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 Three months ended Three months ended March 31, 2024 March 31, 2023 Per Share Operation Performance Net asset value at beginning of period $ 27.03 $ 28.50 Income from investment operations: Interest income 0.34 0.31 Net realized and unrealized loss on commodity futures contracts (2.00 ) (1.47 ) Total expenses, net (0.21 ) (0.15 ) Net decrease in net asset value (1.87 ) (1.31 ) Net asset value at end of period $ 25.16 $ 27.19 Total Return -6.91 % -4.61 % Ratios to Average Net Assets (Annualized) Total expenses 3.28 % 2.18 % Total expenses, net 3.28 % 2.18 % Net investment income 2.10 % 2.28 % 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended March 31, 2024 no Trust: Legal Matters: April 26, 2024 May 17, 2024. Dale Riker v. Sal Gilbertie et al. 656794/2020 Sal Gilbertie, et. al. v. Dale Riker, et al. 2020 1018 Dale Riker, et al. v. Teucrium Trading, LLC 2022 1030 CORN: Nothing to report. SOYB: Nothing to report. CANE: The net assets of the fund decreased by $3,645,989, or 22.1%, for the period March 31, 2024 May 9, 2024. WEAT: Nothing to report. TAGS: Nothing to report. DEFI: Nothing to report. |
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 March 31, 2024 no |
Schedule of Investments (Unau_3
Schedule of Investments (Unaudited) - Teucrium Sugar Fund | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS March 31, 2024 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.240 % $ 22,987,077 $ 22,987,077 8.28 % 22,987,077 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 82,672,927 82,672,927 29.76 82,672,927 Total money market funds $ 105,660,004 $ 105,660,004 38.04 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 1.78 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 0.90 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 4,946,334 4,970,444 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 4,929,376 4,964,688 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 0.89 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 4,955,696 4,977,084 1.79 5,000,000 The Cigna Group April 5, 2024 5.501 % 2,970,300 2,998,200 1.08 3,000,000 Crown Castle Inc. April 18, 2024 5.530 % 9,945,600 9,974,312 3.59 10,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 1.79 5,000,000 FMC Corporation April 22, 2024 5.755 % 2,487,815 2,491,746 0.90 2,500,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 1.79 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 3,465,928 3,485,545 1.25 3,500,000 Glencore Funding LLC April 16, 2024 5.490 % 7,456,125 7,483,125 2.69 7,500,000 Glencore Funding LLC April 30, 2024 5.493 % 4,964,750 4,978,250 1.79 5,000,000 Glencore Funding LLC May 10, 2024 5.475 % 7,440,597 7,456,287 2.68 7,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 0.90 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 4,943,792 4,964,376 1.79 5,000,000 National Fuel Gas Company April 4, 2024 5.544 % 7,476,113 7,496,588 2.70 7,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 4,987,734 4,997,700 1.80 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 9,865,000 9,985,000 3.59 10,000,000 VW Credit, Inc. May 16, 2024 5.402 % 4,943,320 4,966,876 1.45 5,000,000 WGL Holdings, Inc. April 15, 2024 5.616 % 4,984,640 4,989,248 1.46 5,000,000 Total Commercial Paper $ 117,915,162 $ 118,502,058 41.97 % Total Cash Equivalents $ 224,162,062 80.01 % 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 SEP24 901 $ 154,412 0.06 % $ 20,925,725 United States wheat futures contracts CBOT wheat futures SEP24 1,599 1,513,306 0.54 47,290,425 Total commodity and cryptocurrency futures contracts $ 1,667,718 0.60 % $ 68,216,150 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 JUL24 1,072 $ 2,021,501 0.73 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 0.69 24,413,025 United States soybean futures contracts CBOT soybean futures JUL24 197 308,999 0.11 11,871,713 CBOT soybean futures NOV24 172 478,846 0.17 10,201,750 CBOT soybean futures NOV25 204 7,131 0.00 11,860,050 United States sugar futures contracts ICE sugar futures JUL24 234 594,646 0.21 5,805,072 ICE sugar futures OCT24 201 83,984 0.03 4,963,896 ICE sugar futures MAR25 233 135,771 0.05 5,769,826 United States wheat futures contracts CBOT wheat futures JUL24 1,915 3,610,065 1.30 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 3.31 55,080,000 Total commodity and cryptocurrency futures contracts $ 18,352,042 6.60 % $ 209,454,595 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,661,367 1.32 % 181,115 Teucrium Soybean Fund 3,574,703 1.29 142,076 Teucrium Sugar Fund 3,605,828 1.30 267,233 Teucrium Wheat Fund 3,673,518 1.32 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 5.23 % *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, 2023 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 39,325,186 $ 39,325,186 12.50 % 39,325,186 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 80,722,654 80,722,654 25.66 80,722,654 Total money market funds $ 120,047,840 $ 120,047,840 38.16 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 1.59 % 5,000,000 Albemarle Corporation January 4, 2024 5.753 % 4,960,764 4,997,646 1.59 5,000,000 Albemarle Corporation January 8, 2024 5.738 % 4,952,302 4,994,526 1.59 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 4,956,460 4,992,083 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 4,979,416 4,993,666 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 4,933,150 4,988,062 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 3,032,227 3,040,948 0.97 3,055,000 Entergy Corporation March 1, 2024 5.665 % 7,402,875 7,430,625 2.36 7,500,000 FMC Corporation January 19, 2024 5.816 % 7,466,634 7,478,550 2.38 7,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 2.38 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 1.58 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 2.37 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 4,949,066 4,993,634 1.59 5,000,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 7,441,200 7,462,800 2.37 7,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 7,421,323 7,446,741 2.37 7,500,000 National Fuel Gas Company January 8, 2024 5.867 % 4,960,800 4,994,400 1.59 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 0.79 2,500,000 Oracle Corporation March 6, 2024 5.562 % 4,934,904 4,950,799 1.57 5,000,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 7,437,063 7,475,063 2.38 7,500,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 1.59 5,000,000 V.F. Corporation January 18, 2024 5.606 % 4,947,292 4,987,014 1.59 5,000,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 1.57 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 4,981,792 4,998,416 1.59 5,000,000 WGL Holdings, Inc. January 12, 2024 5.849 % 7,461,666 7,486,824 2.38 7,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 7,950,009 7,985,529 2.54 8,000,000 Total Commercial Paper $ 142,223,286 $ 143,041,466 45.50 % Total Cash Equivalents $ 263,089,306 83.66 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.12 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 0.60 55,243,913 United States CME Bitcoin futures contracts CME Bitcoin futures JAN24 6 129,519 0.04 1,274,550 Total commodity and cryptocurrency futures contracts $ 2,367,012 0.76 % $ 121,044,013 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 MAY24 1,171 $ 1,102,254 0.35 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.12 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.22 28,397,400 United States soybean futures contracts CBOT soybean futures MAR24 156 617,118 0.20 10,124,400 CBOT soybean futures MAY24 133 633,749 0.20 8,693,213 CBOT soybean futures NOV24 164 140,794 0.04 10,215,150 United States sugar futures contracts ICE sugar futures MAY24 270 1,051,261 0.33 6,175,008 ICE sugar futures JUL24 233 1,128,473 0.36 5,326,193 ICE sugar futures MAR25 268 508,264 0.16 6,216,314 United States wheat futures contracts CBOT wheat futures DEC24 1,924 4,575,666 1.45 64,357,800 United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 0.02 1,288,500 Total commodity and cryptocurrency futures contracts $ 10,888,842 3.45 % $ 193,412,278 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 4,567,949 1.45 % 211,348 Teucrium Soybean Fund 4,546,758 1.45 168,219 Teucrium Sugar Fund 4,624,253 1.47 371,871 Teucrium Wheat Fund 4,662,940 1.48 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 5.85 % *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 March 31, 2024 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.240 % $ 1,342,798 $ 1,342,798 8.12 % 1,342,798 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 2,708,188 2,708,188 16.38 2,708,188 Total Money Market Funds $ 4,050,986 $ 4,050,986 24.50 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper The Cigna Group April 5, 2024 5.501 % $ 495,050 $ 499,700 3.02 % 500,000 Campbell Soup Company May 1, 2024 5.601 % 2,477,848 2,488,542 15.06 2,500,000 Glencore Funding LLC April 16, 2024 5.490 % 2,485,375 2,494,375 15.09 2,500,000 Glencore Funding LLC May 10, 2024 5.475 % 2,480,199 2,485,429 15.04 2,500,000 Total Commercial Paper $ 7,938,472 $ 7,968,046 48.21 % Total Cash Equivalents $ 12,019,032 72.71 % 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 234 $ 594,646 3.60 % $ 5,805,072 ICE sugar futures OCT24 201 83,984 0.51 4,963,896 ICE sugar futures MAR25 233 135,771 0.82 5,769,826 Total commodity futures contracts $ 814,401 4.93 % $ 16,538,794 The accompanying notes are an integral part of these financial statements. TEUCRIUM SUGAR FUND SCHEDULE OF INVESTMENTS December 31, 2023 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 1,532,232 $ 1,532,232 8.65 % 1,532,232 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 1,501,006 1,501,006 8.47 1,501,006 Total Money Market Funds $ 3,033,238 $ 3,033,238 17.12 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 4, 2024 5.753 % $ 2,480,382 $ 2,498,823 14.10 % 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 550,863 552,447 3.12 555,000 Entergy Corporation March 1, 2024 5.665 % 2,467,625 2,476,875 13.98 2,500,000 FMC Corporation January 19, 2024 5.816 % 2,488,878 2,492,850 14.07 2,500,000 National Fuel Gas Company January 8, 2024 5.867 % 2,480,400 2,497,200 14.09 2,500,000 Total Commercial Paper $ 10,468,148 $ 10,518,195 59.36 % Total Cash Equivalents $ 13,551,433 76.47 % 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 MAY24 270 $ 1,051,261 5.93 % $ 6,175,008 ICE sugar futures JUL24 233 1,128,473 6.37 5,326,193 ICE sugar futures MAR25 268 508,264 2.87 6,216,314 Total commodity futures contracts $ 2,687,998 15.17 % $ 17,717,515 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 10 October 30, 2023 ( January 3, 2024. 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. As reported by the registrant on a Form 8 November 7, 2023 ( No. 001 34765 October 30, 2023 ( January 3, 2024 ( one not ‘33 seven not 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 March 31, 2024 not December 31, 2024. 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 March 31, 2024 not December 31, 2024. 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 | 3 Months Ended |
Mar. 31, 2024 | |
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. Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 93,105 $ 120,560 Amount of Custody Services Waived $ 3,615 $ 7,329 Amount Recognized for Distribution Services $ 36,539 $ 38,765 Amount of Distribution Services Waived $ 1,527 $ 2,322 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
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. Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 8,512 $ 1,036 Amount of Custody Services Waived $ - $ - Amount Recognized for Distribution Services $ 3,491 $ 1,548 Amount of Distribution Services Waived $ - $ - Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Note 3 - Summary of Significa_4
Note 3 - Summary of Significant Accounting Policies - Teucrium Sugar Fund | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ 9,706 $ 4,158 $ 2,008 $ 15,580 $ - $ 192 $ 31,644 Three months ended March 31, 2023 $ 17,270 $ 6,340 $ 6,055 $ 21,746 $ - $ 609 $ 52,020 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 105,660,004 $ 120,047,840 Demand Deposit Savings Accounts 29,533,538 29,148,056 Commercial Paper 118,502,058 143,041,466 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 253,695,600 $ 292,237,362 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 614,406 $ 591,603 Waived Related Party Transactions $ 25,585 $ 23,865 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 March 31, 2024 $ - $ - $ - $ - $ 69,538 $ 62,309 $ 131,847 Three months ended March 31, 2023 $ - $ - $ - $ - $ 125,494 $ 70,570 $ 196,064 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 March 31, 2024 December 31, 2023 no For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; 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 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 March 31, 2024 2023 CANE Three months ended March 31, 2024 $ 2,008 Three months ended March 31, 2023 $ 6,055 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 4,050,986 $ 3,033,238 Demand Deposit Savings Accounts 3,264,927 3,222,312 Commercial Paper 7,968,046 10,518,195 Total cash and cash equivalents as presented on the Statements of Assets and Liabilities $ 15,283,959 $ 16,773,745 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 58,527 $ 23,761 Waived Related Party Transactions $ - $ - 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. There were no three March 31, 2024 2023. 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 March 31, 2024 December 31, 2023 no 1 2 For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; not |
Note 4 - Fair Value Measureme_4
Note 4 - Fair Value Measurements - Teucrium Sugar Fund | 3 Months Ended |
Mar. 31, 2024 | |
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. March 31, 2024 December 31, 2023 Assets: Level 1 Level 2 Level 3 Balance as of March 31, 2024 Cash Equivalents $ 224,162,062 $ - $ - $ 224,162,062 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 225,829,780 $ - $ - $ 225,829,780 Liabilities Level 1 Level 2 Level 3 Balance as of March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Soybean futures contracts 794,976 - - 794,976 Sugar futures contracts 814,401 - - 814,401 Wheat futures contracts 12,809,942 - - 12,809,942 Total $ 18,352,042 $ - $ - $ 18,352,042 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents $ 263,089,306 $ - $ - $ 263,089,306 Commodity and Cryptocurrency Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Bitcoin futures contracts 129,519 - - 129,519 Total $ 265,456,318 $ - $ - $ 265,456,318 Liabilities Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 Soybean futures contracts 1,391,661 - - 1,391,661 Sugar futures contracts 2,687,998 - - 2,687,998 Wheat futures contracts 4,575,666 - - 4,575,666 Bitcoin futures contracts 51,376 - - 51,376 Total $ 10,888,842 $ - $ - $ 10,888,842 For the three March 31, 2024 December 31, 2023 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. March 31, 2024 December 31, 2023 March 31, 2024 Balance as of Assets: Level 1 Level 2 Level 3 March 31, 2024 Cash Equivalents $ 12,019,032 $ - $ - $ 12,019,032 Balance as of Liabilities Level 1 Level 2 Level 3 March 31, 2024 Commodity Futures Contracts Sugar futures contracts $ 814,401 $ - $ - $ 814,401 December 31, 2023 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2023 Cash Equivalents $ 13,551,433 $ - $ - $ 13,551,433 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2023 Sugar futures contracts $ 2,687,998 $ - $ - $ 2,687,998 For the three March 31, 2024 December 31, 2023 not See the Fair Value Definition and Hierarchy 3 |
Note 5 - Derivative Instrumen_4
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Sugar Fund | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 December 31, 2023 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 March 31, 2024 December 31, 2023 no March 31, 2024 *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 March 31, 2024 (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 $ 154,412 $ - $ 154,412 $ 154,412 $ - $ - Wheat futures contracts $ 1,513,306 $ - $ 1,513,306 $ 1,513,306 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 3,932,723 $ - $ 3,932,723 $ 154,412 $ 3,778,311 $ - Soybean futures contracts $ 794,976 $ - $ 794,976 $ - $ 794,976 $ - Sugar futures contracts $ 814,401 $ - $ 814,401 $ - $ 814,401 $ - Wheat futures contracts $ 12,809,942 $ - $ 12,809,942 $ 1,513,306 $ 11,296,636 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 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 Wheat futures contracts $ 2,237,493 $ - $ 2,237,493 $ 2,237,493 $ - $ - Bitcoin futures contracts $ 129,519 $ - $ 129,519 $ 51,376 $ - $ 78,143 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 2,182,141 $ - $ 2,182,141 $ - $ 2,182,141 $ - Soybean futures contracts $ 1,391,661 $ - $ 1,391,661 $ - $ 1,391,661 $ - Sugar futures contracts $ 2,687,998 $ - $ 2,687,998 $ - $ 2,687,998 $ - Wheat futures contracts $ 4,575,666 $ - $ 4,575,666 $ 2,237,493 $ 2,338,173 $ - Bitcoin futures contracts $ 51,376 $ - $ 51,376 $ 51,376 $ - $ - The following is a summary of realized and unrealized gains (losses) of the derivative instruments utilized by the Trust: Three months ended March 31, 2024 Realized Loss on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (3,964,335 ) $ (1,596,170 ) Soybeans futures contracts (2,632,854 ) 596,685 Sugar futures contracts (482,314 ) 1,873,597 Wheat futures contracts (10,037,305 ) (8,958,463 ) Bitcoin futures Contracts (78,143 ) 114,383 Total commodity and cryptocurrency futures contracts $ (17,194,951 ) $ (7,969,968 ) Three months ended March 31, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (6,268,935 ) $ (3,299,360 ) Soybeans futures contracts 1,067,543 (3,699,642 ) Sugar futures contracts 1,339,448 3,139,817 Wheat futures contracts (23,358,733 ) (2,092,562 ) Bitcoin futures Contracts 629,551 128,468 Total commodity and cryptocurrency futures contracts $ (26,591,126 ) $ (5,823,279 ) Volume of Derivative Activities The average notional market value categorized by primary underlying risk for the futures contracts held was $277.8 million for the three March 31, 2024 three March 31, 2023 |
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 March 31, 2024 December 31, 2023 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 March 31, 2024 December 31, 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 Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 814,401 $ - $ 814,401 $ - $ 814,401 $ - Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 2,687,998 $ - $ 2,687,998 $ 2,687,998 $ - $ - 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 March 31, 2024 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ (482,314 ) $ 1,873,597 Three months ended March 31, 2023 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ 1,339,448 $ 3,139,817 Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held were $16.9 million for the three March 31, 2024 three March 31, 2023 |
Note 6 - Financial Highlights_3
Note 6 - Financial Highlights - Teucrium Sugar Fund | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 Three months ended Three months ended March 31, 2024 March 31, 2023 Per Share Operation Performance Net asset value at beginning of period $ 12.44 $ 9.51 Income (loss) from investment operations: Interest income 0.17 0.11 Net realized and unrealized gain on commodity futures contracts 1.01 1.89 Total expenses, net (0.13 ) (0.07 ) Net increase in net asset value 1.05 1.93 Net asset value at end of period $ 13.49 $ 11.44 Total Return 8.51 % 20.28 % Ratios to Average Net Assets (Annualized) Total expenses 4.04 % 2.78 % Total expenses, net 4.04 % 2.78 % Net investment income 1.24 % 1.65 % 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended March 31, 2024 no Trust: Legal Matters: April 26, 2024 May 17, 2024. Dale Riker v. Sal Gilbertie et al. 656794/2020 Sal Gilbertie, et. al. v. Dale Riker, et al. 2020 1018 Dale Riker, et al. v. Teucrium Trading, LLC 2022 1030 CORN: Nothing to report. SOYB: Nothing to report. CANE: The net assets of the fund decreased by $3,645,989, or 22.1%, for the period March 31, 2024 May 9, 2024. WEAT: Nothing to report. TAGS: Nothing to report. DEFI: Nothing to report. |
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 March 31, 2024 no The net assets of the fund decreased by $3,645,989, or 22.1%, for the period March 31, 2024 May 9, 2024. |
Schedule of Investments (Unau_4
Schedule of Investments (Unaudited) - Teucrium Wheat Fund | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS March 31, 2024 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.240 % $ 22,987,077 $ 22,987,077 8.28 % 22,987,077 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 82,672,927 82,672,927 29.76 82,672,927 Total money market funds $ 105,660,004 $ 105,660,004 38.04 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 1.78 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 0.90 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 4,946,334 4,970,444 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 4,929,376 4,964,688 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 0.89 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 4,955,696 4,977,084 1.79 5,000,000 The Cigna Group April 5, 2024 5.501 % 2,970,300 2,998,200 1.08 3,000,000 Crown Castle Inc. April 18, 2024 5.530 % 9,945,600 9,974,312 3.59 10,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 1.79 5,000,000 FMC Corporation April 22, 2024 5.755 % 2,487,815 2,491,746 0.90 2,500,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 1.79 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 3,465,928 3,485,545 1.25 3,500,000 Glencore Funding LLC April 16, 2024 5.490 % 7,456,125 7,483,125 2.69 7,500,000 Glencore Funding LLC April 30, 2024 5.493 % 4,964,750 4,978,250 1.79 5,000,000 Glencore Funding LLC May 10, 2024 5.475 % 7,440,597 7,456,287 2.68 7,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 0.90 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 4,943,792 4,964,376 1.79 5,000,000 National Fuel Gas Company April 4, 2024 5.544 % 7,476,113 7,496,588 2.70 7,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 4,987,734 4,997,700 1.80 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 9,865,000 9,985,000 3.59 10,000,000 VW Credit, Inc. May 16, 2024 5.402 % 4,943,320 4,966,876 1.45 5,000,000 WGL Holdings, Inc. April 15, 2024 5.616 % 4,984,640 4,989,248 1.46 5,000,000 Total Commercial Paper $ 117,915,162 $ 118,502,058 41.97 % Total Cash Equivalents $ 224,162,062 80.01 % 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 SEP24 901 $ 154,412 0.06 % $ 20,925,725 United States wheat futures contracts CBOT wheat futures SEP24 1,599 1,513,306 0.54 47,290,425 Total commodity and cryptocurrency futures contracts $ 1,667,718 0.60 % $ 68,216,150 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 JUL24 1,072 $ 2,021,501 0.73 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 0.69 24,413,025 United States soybean futures contracts CBOT soybean futures JUL24 197 308,999 0.11 11,871,713 CBOT soybean futures NOV24 172 478,846 0.17 10,201,750 CBOT soybean futures NOV25 204 7,131 0.00 11,860,050 United States sugar futures contracts ICE sugar futures JUL24 234 594,646 0.21 5,805,072 ICE sugar futures OCT24 201 83,984 0.03 4,963,896 ICE sugar futures MAR25 233 135,771 0.05 5,769,826 United States wheat futures contracts CBOT wheat futures JUL24 1,915 3,610,065 1.30 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 3.31 55,080,000 Total commodity and cryptocurrency futures contracts $ 18,352,042 6.60 % $ 209,454,595 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,661,367 1.32 % 181,115 Teucrium Soybean Fund 3,574,703 1.29 142,076 Teucrium Sugar Fund 3,605,828 1.30 267,233 Teucrium Wheat Fund 3,673,518 1.32 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 5.23 % *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, 2023 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 39,325,186 $ 39,325,186 12.50 % 39,325,186 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 80,722,654 80,722,654 25.66 80,722,654 Total money market funds $ 120,047,840 $ 120,047,840 38.16 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 1.59 % 5,000,000 Albemarle Corporation January 4, 2024 5.753 % 4,960,764 4,997,646 1.59 5,000,000 Albemarle Corporation January 8, 2024 5.738 % 4,952,302 4,994,526 1.59 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 4,956,460 4,992,083 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 4,979,416 4,993,666 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 4,933,150 4,988,062 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 3,032,227 3,040,948 0.97 3,055,000 Entergy Corporation March 1, 2024 5.665 % 7,402,875 7,430,625 2.36 7,500,000 FMC Corporation January 19, 2024 5.816 % 7,466,634 7,478,550 2.38 7,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 2.38 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 1.58 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 2.37 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 4,949,066 4,993,634 1.59 5,000,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 7,441,200 7,462,800 2.37 7,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 7,421,323 7,446,741 2.37 7,500,000 National Fuel Gas Company January 8, 2024 5.867 % 4,960,800 4,994,400 1.59 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 0.79 2,500,000 Oracle Corporation March 6, 2024 5.562 % 4,934,904 4,950,799 1.57 5,000,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 7,437,063 7,475,063 2.38 7,500,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 1.59 5,000,000 V.F. Corporation January 18, 2024 5.606 % 4,947,292 4,987,014 1.59 5,000,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 1.57 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 4,981,792 4,998,416 1.59 5,000,000 WGL Holdings, Inc. January 12, 2024 5.849 % 7,461,666 7,486,824 2.38 7,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 7,950,009 7,985,529 2.54 8,000,000 Total Commercial Paper $ 142,223,286 $ 143,041,466 45.50 % Total Cash Equivalents $ 263,089,306 83.66 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.12 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 0.60 55,243,913 United States CME Bitcoin futures contracts CME Bitcoin futures JAN24 6 129,519 0.04 1,274,550 Total commodity and cryptocurrency futures contracts $ 2,367,012 0.76 % $ 121,044,013 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 MAY24 1,171 $ 1,102,254 0.35 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.12 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.22 28,397,400 United States soybean futures contracts CBOT soybean futures MAR24 156 617,118 0.20 10,124,400 CBOT soybean futures MAY24 133 633,749 0.20 8,693,213 CBOT soybean futures NOV24 164 140,794 0.04 10,215,150 United States sugar futures contracts ICE sugar futures MAY24 270 1,051,261 0.33 6,175,008 ICE sugar futures JUL24 233 1,128,473 0.36 5,326,193 ICE sugar futures MAR25 268 508,264 0.16 6,216,314 United States wheat futures contracts CBOT wheat futures DEC24 1,924 4,575,666 1.45 64,357,800 United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 0.02 1,288,500 Total commodity and cryptocurrency futures contracts $ 10,888,842 3.45 % $ 193,412,278 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 4,567,949 1.45 % 211,348 Teucrium Soybean Fund 4,546,758 1.45 168,219 Teucrium Sugar Fund 4,624,253 1.47 371,871 Teucrium Wheat Fund 4,662,940 1.48 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 5.85 % *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 March 31, 2024 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.240 % $ 10,758,845 $ 10,758,845 6.83 % 10,758,845 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 57,722,055 57,722,055 36.64 57,722,055 Total money market funds $ 68,480,900 $ 68,480,900 43.47 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 3.14 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 1.58 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 1.58 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 2,473,167 2,485,222 1.58 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 2,464,688 2,482,344 1.58 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 1.57 2,500,000 The Cigna Group April 5, 2024 5.501 % 2,475,250 2,498,500 1.59 2,500,000 Crown Castle Inc. April 18, 2024 5.530 % 4,972,800 4,987,156 3.17 5,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 3.15 5,000,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 3.16 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 990,265 995,870 0.63 1,000,000 Glencore Funding LLC April 16, 2024 5.490 % 2,485,375 2,494,375 1.58 2,500,000 Glencore Funding LLC April 30, 2024 5.493 % 2,482,375 2,489,125 1.58 2,500,000 Glencore Funding LLC May 10, 2024 5.475 % 2,480,199 2,485,429 1.58 2,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 1.58 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 2,471,896 2,482,188 1.58 2,500,000 National Fuel Gas Company April 4, 2024 5.544 % 4,984,075 4,997,725 3.17 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 4,932,500 4,992,500 3.17 5,000,000 VW Credit, Inc. May 16, 2024 5.402 % 2,471,660 2,483,438 1.58 2,500,000 WGL Holdings, Inc. April 15, 2024 5.616 % 2,492,320 2,494,624 1.58 2,500,000 Total Commercial Paper $ 62,863,987 $ 63,207,987 40.13 % Total Cash Equivalents $ 131,688,887 83.60 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States wheat futures contracts CBOT wheat futures SEP24 1,599 $ 1,513,306 0.96 % $ 47,290,425 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 JUL24 1,915 $ 3,610,065 2.29 % $ 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 5.84 55,080,000 Total commodity futures contracts $ 12,809,942 8.13 % $ 110,208,063 The accompanying notes are an integral part of these financial statements. TEUCRIUM WHEAT FUND SCHEDULE OF INVESTMENTS December 31, 2023 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 27,315,653 $ 27,315,653 14.83 % 27,315,653 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 53,500,438 53,500,438 29.05 53,500,438 Total money market funds $ 80,816,091 $ 80,816,091 43.88 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 4, 2024 5.753 % $ 2,480,382 $ 2,498,823 1.36 % 2,500,000 Albemarle Corporation January 8, 2024 5.738 % 2,476,151 2,497,263 1.36 2,500,000 Albemarle Corporation January 11, 2024 5.808 % 2,478,230 2,496,041 1.36 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 2,466,575 2,494,031 1.35 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 2,481,364 2,488,501 1.35 2,500,000 Entergy Corporation March 1, 2024 5.665 % 2,467,625 2,476,875 1.34 2,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 4.06 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 2.71 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 4.05 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 2,474,533 2,496,817 1.36 2,500,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 2,480,400 2,487,600 1.35 2,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 4,947,549 4,964,494 2.70 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 1.35 2,500,000 Oracle Corporation March 6, 2024 5.562 % 2,467,452 2,475,399 1.34 2,500,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 4,958,042 4,983,375 2.71 5,000,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 2.71 5,000,000 V.F. Corporation January 18, 2024 5.606 % 2,473,646 2,493,507 1.35 2,500,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 2.69 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 2,490,896 2,499,208 1.36 2,500,000 WGL Holdings, Inc. January 12, 2024 5.849 % 2,487,222 2,495,608 1.36 2,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 5,465,631 5,490,051 2.98 5,500,000 Total Commercial Paper $ 77,199,566 $ 77,683,305 42.20 % Total Cash Equivalents $ 158,499,396 86.08 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.20 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 1.02 55,243,913 Total commodity futures contracts $ 2,237,493 1.22 % $ 119,769,463 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 DEC24 1,924 $ 4,575,666 2.48 % $ 64,357,800 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 10 October 30, 2023 ( January 3, 2024. 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. As reported by the registrant on a Form 8 November 7, 2023 ( No. 001 34765 October 30, 2023 ( January 3, 2024 ( one not ‘33 seven not 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 March 31, 2024 not December 31, 2024. 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 March 31, 2024 not December 31, 2024. 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 | 3 Months Ended |
Mar. 31, 2024 | |
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. Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 93,105 $ 120,560 Amount of Custody Services Waived $ 3,615 $ 7,329 Amount Recognized for Distribution Services $ 36,539 $ 38,765 Amount of Distribution Services Waived $ 1,527 $ 2,322 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
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. Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 50,520 $ 75,710 Amount of Custody Services Waived $ - $ - Amount Recognized for Distribution Services $ 20,330 $ 21,576 Amount of Distribution Services Waived $ - $ - Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Note 3 - Summary of Significa_5
Note 3 - Summary of Significant Accounting Policies - Teucrium Wheat Fund | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ 9,706 $ 4,158 $ 2,008 $ 15,580 $ - $ 192 $ 31,644 Three months ended March 31, 2023 $ 17,270 $ 6,340 $ 6,055 $ 21,746 $ - $ 609 $ 52,020 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 105,660,004 $ 120,047,840 Demand Deposit Savings Accounts 29,533,538 29,148,056 Commercial Paper 118,502,058 143,041,466 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 253,695,600 $ 292,237,362 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 614,406 $ 591,603 Waived Related Party Transactions $ 25,585 $ 23,865 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 March 31, 2024 $ - $ - $ - $ - $ 69,538 $ 62,309 $ 131,847 Three months ended March 31, 2023 $ - $ - $ - $ - $ 125,494 $ 70,570 $ 196,064 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 March 31, 2024 December 31, 2023 no For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; 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 March 31, 2024 2023 WEAT Three months ended March 31, 2024 $ 15,580 Three months ended March 31, 2023 $ 21,746 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 68,480,900 $ 80,816,091 Demand Deposit Savings Accounts 10,368,017 10,232,690 Commercial Paper 63,207,987 77,683,305 Total cash and cash equivalents as presented on the Statements of Assets and Liabilities $ 142,056,904 $ 168,732,086 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 342,309 $ 328,187 Waived Related Party Transactions $ - $ - 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. There were no three March 31, 2024 2023. 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 March 31, 2024 December 31, 2023 no 1 2 For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; not |
Note 4 - Fair Value Measureme_5
Note 4 - Fair Value Measurements - Teucrium Wheat Fund | 3 Months Ended |
Mar. 31, 2024 | |
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. March 31, 2024 December 31, 2023 Assets: Level 1 Level 2 Level 3 Balance as of March 31, 2024 Cash Equivalents $ 224,162,062 $ - $ - $ 224,162,062 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 225,829,780 $ - $ - $ 225,829,780 Liabilities Level 1 Level 2 Level 3 Balance as of March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Soybean futures contracts 794,976 - - 794,976 Sugar futures contracts 814,401 - - 814,401 Wheat futures contracts 12,809,942 - - 12,809,942 Total $ 18,352,042 $ - $ - $ 18,352,042 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents $ 263,089,306 $ - $ - $ 263,089,306 Commodity and Cryptocurrency Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Bitcoin futures contracts 129,519 - - 129,519 Total $ 265,456,318 $ - $ - $ 265,456,318 Liabilities Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 Soybean futures contracts 1,391,661 - - 1,391,661 Sugar futures contracts 2,687,998 - - 2,687,998 Wheat futures contracts 4,575,666 - - 4,575,666 Bitcoin futures contracts 51,376 - - 51,376 Total $ 10,888,842 $ - $ - $ 10,888,842 For the three March 31, 2024 December 31, 2023 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. March 31, 2024 December 31, 2023 March 31, 2024 Balance as of Assets: Level 1 Level 2 Level 3 March 31, 2024 Cash Equivalents $ 131,688,887 $ - $ - $ 131,688,887 Commodity Futures Contracts Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 133,202,193 $ - $ - $ 133,202,193 Balance as of Liabilities Level 1 Level 2 Level 3 March 31, 2024 Commodity Futures Contracts Wheat futures contracts $ 12,809,942 $ - $ - $ 12,809,942 December 31, 2023 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2023 Cash Equivalents $ 158,499,396 $ - $ - $ 158,499,396 Commodity Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Total $ 160,736,889 $ - $ - $ 160,736,889 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2023 Wheat futures contracts $ 4,575,666 $ - $ - $ 4,575,666 For the three March 31, 2024 December 31, 2023 not See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Derivative Instrumen_5
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Wheat Fund | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 December 31, 2023 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 March 31, 2024 December 31, 2023 no March 31, 2024 *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 March 31, 2024 (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 $ 154,412 $ - $ 154,412 $ 154,412 $ - $ - Wheat futures contracts $ 1,513,306 $ - $ 1,513,306 $ 1,513,306 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 3,932,723 $ - $ 3,932,723 $ 154,412 $ 3,778,311 $ - Soybean futures contracts $ 794,976 $ - $ 794,976 $ - $ 794,976 $ - Sugar futures contracts $ 814,401 $ - $ 814,401 $ - $ 814,401 $ - Wheat futures contracts $ 12,809,942 $ - $ 12,809,942 $ 1,513,306 $ 11,296,636 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 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 Wheat futures contracts $ 2,237,493 $ - $ 2,237,493 $ 2,237,493 $ - $ - Bitcoin futures contracts $ 129,519 $ - $ 129,519 $ 51,376 $ - $ 78,143 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 2,182,141 $ - $ 2,182,141 $ - $ 2,182,141 $ - Soybean futures contracts $ 1,391,661 $ - $ 1,391,661 $ - $ 1,391,661 $ - Sugar futures contracts $ 2,687,998 $ - $ 2,687,998 $ - $ 2,687,998 $ - Wheat futures contracts $ 4,575,666 $ - $ 4,575,666 $ 2,237,493 $ 2,338,173 $ - Bitcoin futures contracts $ 51,376 $ - $ 51,376 $ 51,376 $ - $ - The following is a summary of realized and unrealized gains (losses) of the derivative instruments utilized by the Trust: Three months ended March 31, 2024 Realized Loss on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (3,964,335 ) $ (1,596,170 ) Soybeans futures contracts (2,632,854 ) 596,685 Sugar futures contracts (482,314 ) 1,873,597 Wheat futures contracts (10,037,305 ) (8,958,463 ) Bitcoin futures Contracts (78,143 ) 114,383 Total commodity and cryptocurrency futures contracts $ (17,194,951 ) $ (7,969,968 ) Three months ended March 31, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (6,268,935 ) $ (3,299,360 ) Soybeans futures contracts 1,067,543 (3,699,642 ) Sugar futures contracts 1,339,448 3,139,817 Wheat futures contracts (23,358,733 ) (2,092,562 ) Bitcoin futures Contracts 629,551 128,468 Total commodity and cryptocurrency futures contracts $ (26,591,126 ) $ (5,823,279 ) Volume of Derivative Activities The average notional market value categorized by primary underlying risk for the futures contracts held was $277.8 million for the three March 31, 2024 three March 31, 2023 |
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 March 31, 2024 December 31, 2023 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 March 31, 2024 December 31, 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 March 31, 2024 (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 $ 1,513,306 $ - $ 1,513,306 $ 1,513,306 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 12,809,942 $ - $ 12,809,942 $ 1,513,306 $ 11,296,636 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 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 Wheat futures contracts $ 2,237,493 $ - $ 2,237,493 $ 2,237,493 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 4,575,666 $ - $ 4,575,666 $ 2,237,493 $ 2,338,173 $ - 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 March 31, 2024 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ (10,037,305 ) $ (8,958,463 ) Three months ended March 31, 2023 Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ (23,358,733 ) $ (2,092,562 ) Volume of Derivative Activities The average notional market value categorized by primary underlying risk for all futures contracts held was $162.4 million, for the three March 31, 2024 three March 31, 2023 |
Note 6 - Financial Highlights_4
Note 6 - Financial Highlights - Teucrium Wheat Fund | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 Three months ended Three months ended March 31, 2024 March 31, 2023 Per Share Operation Performance Net asset value at beginning of period $ 5.98 $ 7.99 Income (loss) from investment operations: Interest income 0.07 0.08 Net realized and unrealized loss on commodity futures contracts (0.62 ) (0.96 ) Total expenses, net (0.04 ) (0.05 ) Net decrease in net asset value (0.59 ) (0.93 ) Net asset value at end of period $ 5.39 $ 7.06 Total Return -9.93 % -11.55 % Ratios to Average Net Assets (Annualized) Total expenses 2.80 % 2.58 % Total expenses, net 2.80 % 2.58 % Net investment income 2.45 % 1.76 % 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended March 31, 2024 no Trust: Legal Matters: April 26, 2024 May 17, 2024. Dale Riker v. Sal Gilbertie et al. 656794/2020 Sal Gilbertie, et. al. v. Dale Riker, et al. 2020 1018 Dale Riker, et al. v. Teucrium Trading, LLC 2022 1030 CORN: Nothing to report. SOYB: Nothing to report. CANE: The net assets of the fund decreased by $3,645,989, or 22.1%, for the period March 31, 2024 May 9, 2024. WEAT: Nothing to report. TAGS: Nothing to report. DEFI: Nothing to report. |
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 March 31, 2024 no |
Schedule of Investments (Unau_5
Schedule of Investments (Unaudited) - Teucrium Agricultural Fund | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS March 31, 2024 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.240 % $ 22,987,077 $ 22,987,077 8.28 % 22,987,077 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 82,672,927 82,672,927 29.76 82,672,927 Total money market funds $ 105,660,004 $ 105,660,004 38.04 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 1.78 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 0.90 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 4,946,334 4,970,444 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 4,929,376 4,964,688 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 0.89 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 4,955,696 4,977,084 1.79 5,000,000 The Cigna Group April 5, 2024 5.501 % 2,970,300 2,998,200 1.08 3,000,000 Crown Castle Inc. April 18, 2024 5.530 % 9,945,600 9,974,312 3.59 10,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 1.79 5,000,000 FMC Corporation April 22, 2024 5.755 % 2,487,815 2,491,746 0.90 2,500,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 1.79 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 3,465,928 3,485,545 1.25 3,500,000 Glencore Funding LLC April 16, 2024 5.490 % 7,456,125 7,483,125 2.69 7,500,000 Glencore Funding LLC April 30, 2024 5.493 % 4,964,750 4,978,250 1.79 5,000,000 Glencore Funding LLC May 10, 2024 5.475 % 7,440,597 7,456,287 2.68 7,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 0.90 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 4,943,792 4,964,376 1.79 5,000,000 National Fuel Gas Company April 4, 2024 5.544 % 7,476,113 7,496,588 2.70 7,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 4,987,734 4,997,700 1.80 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 9,865,000 9,985,000 3.59 10,000,000 VW Credit, Inc. May 16, 2024 5.402 % 4,943,320 4,966,876 1.45 5,000,000 WGL Holdings, Inc. April 15, 2024 5.616 % 4,984,640 4,989,248 1.46 5,000,000 Total Commercial Paper $ 117,915,162 $ 118,502,058 41.97 % Total Cash Equivalents $ 224,162,062 80.01 % 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 SEP24 901 $ 154,412 0.06 % $ 20,925,725 United States wheat futures contracts CBOT wheat futures SEP24 1,599 1,513,306 0.54 47,290,425 Total commodity and cryptocurrency futures contracts $ 1,667,718 0.60 % $ 68,216,150 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 JUL24 1,072 $ 2,021,501 0.73 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 0.69 24,413,025 United States soybean futures contracts CBOT soybean futures JUL24 197 308,999 0.11 11,871,713 CBOT soybean futures NOV24 172 478,846 0.17 10,201,750 CBOT soybean futures NOV25 204 7,131 0.00 11,860,050 United States sugar futures contracts ICE sugar futures JUL24 234 594,646 0.21 5,805,072 ICE sugar futures OCT24 201 83,984 0.03 4,963,896 ICE sugar futures MAR25 233 135,771 0.05 5,769,826 United States wheat futures contracts CBOT wheat futures JUL24 1,915 3,610,065 1.30 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 3.31 55,080,000 Total commodity and cryptocurrency futures contracts $ 18,352,042 6.60 % $ 209,454,595 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,661,367 1.32 % 181,115 Teucrium Soybean Fund 3,574,703 1.29 142,076 Teucrium Sugar Fund 3,605,828 1.30 267,233 Teucrium Wheat Fund 3,673,518 1.32 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 5.23 % *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, 2023 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 39,325,186 $ 39,325,186 12.50 % 39,325,186 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 80,722,654 80,722,654 25.66 80,722,654 Total money market funds $ 120,047,840 $ 120,047,840 38.16 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 1.59 % 5,000,000 Albemarle Corporation January 4, 2024 5.753 % 4,960,764 4,997,646 1.59 5,000,000 Albemarle Corporation January 8, 2024 5.738 % 4,952,302 4,994,526 1.59 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 4,956,460 4,992,083 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 4,979,416 4,993,666 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 4,933,150 4,988,062 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 3,032,227 3,040,948 0.97 3,055,000 Entergy Corporation March 1, 2024 5.665 % 7,402,875 7,430,625 2.36 7,500,000 FMC Corporation January 19, 2024 5.816 % 7,466,634 7,478,550 2.38 7,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 2.38 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 1.58 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 2.37 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 4,949,066 4,993,634 1.59 5,000,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 7,441,200 7,462,800 2.37 7,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 7,421,323 7,446,741 2.37 7,500,000 National Fuel Gas Company January 8, 2024 5.867 % 4,960,800 4,994,400 1.59 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 0.79 2,500,000 Oracle Corporation March 6, 2024 5.562 % 4,934,904 4,950,799 1.57 5,000,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 7,437,063 7,475,063 2.38 7,500,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 1.59 5,000,000 V.F. Corporation January 18, 2024 5.606 % 4,947,292 4,987,014 1.59 5,000,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 1.57 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 4,981,792 4,998,416 1.59 5,000,000 WGL Holdings, Inc. January 12, 2024 5.849 % 7,461,666 7,486,824 2.38 7,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 7,950,009 7,985,529 2.54 8,000,000 Total Commercial Paper $ 142,223,286 $ 143,041,466 45.50 % Total Cash Equivalents $ 263,089,306 83.66 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.12 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 0.60 55,243,913 United States CME Bitcoin futures contracts CME Bitcoin futures JAN24 6 129,519 0.04 1,274,550 Total commodity and cryptocurrency futures contracts $ 2,367,012 0.76 % $ 121,044,013 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 MAY24 1,171 $ 1,102,254 0.35 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.12 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.22 28,397,400 United States soybean futures contracts CBOT soybean futures MAR24 156 617,118 0.20 10,124,400 CBOT soybean futures MAY24 133 633,749 0.20 8,693,213 CBOT soybean futures NOV24 164 140,794 0.04 10,215,150 United States sugar futures contracts ICE sugar futures MAY24 270 1,051,261 0.33 6,175,008 ICE sugar futures JUL24 233 1,128,473 0.36 5,326,193 ICE sugar futures MAR25 268 508,264 0.16 6,216,314 United States wheat futures contracts CBOT wheat futures DEC24 1,924 4,575,666 1.45 64,357,800 United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 0.02 1,288,500 Total commodity and cryptocurrency futures contracts $ 10,888,842 3.45 % $ 193,412,278 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 4,567,949 1.45 % 211,348 Teucrium Soybean Fund 4,546,758 1.45 168,219 Teucrium Sugar Fund 4,624,253 1.47 371,871 Teucrium Wheat Fund 4,662,940 1.48 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 5.85 % *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 March 31, 2024 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Exchange-traded funds Teucrium Corn Fund $ 3,661,367 25.20 % 181,115 Teucrium Soybean Fund 3,574,703 24.61 142,076 Teucrium Sugar Fund 3,605,828 24.82 267,233 Teucrium Wheat Fund 3,673,518 25.29 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 99.92 % Cash equivalents Money market funds U.S. Bank Deposit Account 5.210 % $ 9,701 $ 9,701 0.07 % 9,701 The accompanying notes are an integral part of these financial statements. TEUCRIUM AGRICULTURAL FUND SCHEDULE OF INVESTMENTS December 31, 2023 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Exchange-traded funds Teucrium Corn Fund $ 4,567,949 24.81 % 211,348 Teucrium Soybean Fund 4,546,758 24.70 168,219 Teucrium Sugar Fund 4,624,253 25.12 371,871 Teucrium Wheat Fund 4,662,940 25.33 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 99.96 % Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 11,208 $ 11,208 0.06 % 11,208 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 10 October 30, 2023 ( January 3, 2024. 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. As reported by the registrant on a Form 8 November 7, 2023 ( No. 001 34765 October 30, 2023 ( January 3, 2024 ( one not ‘33 seven not 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 March 31, 2024 not December 31, 2024. 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 March 31, 2024 not December 31, 2024. 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 March 31, 2024 not December 31, 2024. 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 March 31, 2024 not December 31, 2024. 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 March 31, 2024 not December 31, 2024. 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 March 31, 2024 not December 31, 2024. 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 | 3 Months Ended |
Mar. 31, 2024 | |
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. Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 93,105 $ 120,560 Amount of Custody Services Waived $ 3,615 $ 7,329 Amount Recognized for Distribution Services $ 36,539 $ 38,765 Amount of Distribution Services Waived $ 1,527 $ 2,322 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
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. Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 3,615 $ 7,070 Amount of Custody Services Waived $ 3,615 $ 7,070 Amount Recognized for Distribution Services $ 1,527 $ 2,262 Amount of Distribution Services Waived $ 1,527 $ 2,262 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Note 3 - Summary of Significa_6
Note 3 - Summary of Significant Accounting Policies - Teucrium Agricultural Fund | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ 9,706 $ 4,158 $ 2,008 $ 15,580 $ - $ 192 $ 31,644 Three months ended March 31, 2023 $ 17,270 $ 6,340 $ 6,055 $ 21,746 $ - $ 609 $ 52,020 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 105,660,004 $ 120,047,840 Demand Deposit Savings Accounts 29,533,538 29,148,056 Commercial Paper 118,502,058 143,041,466 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 253,695,600 $ 292,237,362 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 614,406 $ 591,603 Waived Related Party Transactions $ 25,585 $ 23,865 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 March 31, 2024 $ - $ - $ - $ - $ 69,538 $ 62,309 $ 131,847 Three months ended March 31, 2023 $ - $ - $ - $ - $ 125,494 $ 70,570 $ 196,064 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 March 31, 2024 December 31, 2023 no For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; 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 2021 December 31, 2023 fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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, March 31, 2024 December 31, 2023 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 25,585 $ 34,473 Waived Related Party Transactions $ 25,585 $ 23,865 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 March 31, 2024 $ 69,538 Three months ended March 31, 2023 $ 125,494 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 06 December 31, 2023. no The FASB 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 March 31, 2024 December 31, 2023 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 | 3 Months Ended |
Mar. 31, 2024 | |
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. March 31, 2024 December 31, 2023 Assets: Level 1 Level 2 Level 3 Balance as of March 31, 2024 Cash Equivalents $ 224,162,062 $ - $ - $ 224,162,062 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 225,829,780 $ - $ - $ 225,829,780 Liabilities Level 1 Level 2 Level 3 Balance as of March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Soybean futures contracts 794,976 - - 794,976 Sugar futures contracts 814,401 - - 814,401 Wheat futures contracts 12,809,942 - - 12,809,942 Total $ 18,352,042 $ - $ - $ 18,352,042 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents $ 263,089,306 $ - $ - $ 263,089,306 Commodity and Cryptocurrency Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Bitcoin futures contracts 129,519 - - 129,519 Total $ 265,456,318 $ - $ - $ 265,456,318 Liabilities Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 Soybean futures contracts 1,391,661 - - 1,391,661 Sugar futures contracts 2,687,998 - - 2,687,998 Wheat futures contracts 4,575,666 - - 4,575,666 Bitcoin futures contracts 51,376 - - 51,376 Total $ 10,888,842 $ - $ - $ 10,888,842 For the three March 31, 2024 December 31, 2023 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. March 31, 2024 December 31, 2023 March 31, 2024 Balance as of Assets: Level 1 Level 2 Level 3 March 31, 2024 Exchange Traded Funds $ 14,515,416 $ - $ - $ 14,515,416 Cash Equivalents 9,701 - - 9,701 Total $ 14,525,117 $ - $ - $ 14,525,117 December 31, 2023 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2023 Exchange Traded Funds $ 18,401,900 $ - $ - $ 18,401,900 Cash Equivalents 11,208 - - 11,208 Total $ 18,413,108 $ - $ - $ 18,413,108 For the three March 31, 2024 December 31, 2023 not See the Fair Value - Definition and Hierarchy 3 |
Note 5 - Financial Highlights -
Note 5 - Financial Highlights - Teucrium Agricultural Fund | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 Three months ended Three months ended March 31, 2024 March 31, 2023 Per Share Operation Performance Net asset value at beginning of period $ 29.45 $ 31.35 Income (loss) from investment operations: Net realized and unrealized loss on investment transactions (1.09 ) (0.29 ) Total expenses, net (0.01 ) (0.01 ) Net decrease in net asset value (1.10 ) (0.30 ) Net asset value at end of period $ 28.35 $ 31.05 Total Return -3.77 % -0.96 % Ratios to Average Net Assets (Annualized) Total expenses 1.76 % 1.49 % Total expenses, net 0.09 % 0.09 % Net investment loss -0.09 % -0.09 % 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended March 31, 2024 no Trust: Legal Matters: April 26, 2024 May 17, 2024. Dale Riker v. Sal Gilbertie et al. 656794/2020 Sal Gilbertie, et. al. v. Dale Riker, et al. 2020 1018 Dale Riker, et al. v. Teucrium Trading, LLC 2022 1030 CORN: Nothing to report. SOYB: Nothing to report. CANE: The net assets of the fund decreased by $3,645,989, or 22.1%, for the period March 31, 2024 May 9, 2024. WEAT: Nothing to report. TAGS: Nothing to report. DEFI: Nothing to report. |
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 March 31, 2024 no |
Schedule of Investments (Unau_6
Schedule of Investments (Unaudited) - Hashdex Bitcoin Futures ETF | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | COMBINED SCHEDULE OF INVESTMENTS March 31, 2024 (Unaudited) Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.240 % $ 22,987,077 $ 22,987,077 8.28 % 22,987,077 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 82,672,927 82,672,927 29.76 82,672,927 Total money market funds $ 105,660,004 $ 105,660,004 38.04 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 1.78 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 0.90 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 4,946,334 4,970,444 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 4,929,376 4,964,688 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 0.89 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 4,955,696 4,977,084 1.79 5,000,000 The Cigna Group April 5, 2024 5.501 % 2,970,300 2,998,200 1.08 3,000,000 Crown Castle Inc. April 18, 2024 5.530 % 9,945,600 9,974,312 3.59 10,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 1.79 5,000,000 FMC Corporation April 22, 2024 5.755 % 2,487,815 2,491,746 0.90 2,500,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 1.79 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 3,465,928 3,485,545 1.25 3,500,000 Glencore Funding LLC April 16, 2024 5.490 % 7,456,125 7,483,125 2.69 7,500,000 Glencore Funding LLC April 30, 2024 5.493 % 4,964,750 4,978,250 1.79 5,000,000 Glencore Funding LLC May 10, 2024 5.475 % 7,440,597 7,456,287 2.68 7,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 0.90 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 4,943,792 4,964,376 1.79 5,000,000 National Fuel Gas Company April 4, 2024 5.544 % 7,476,113 7,496,588 2.70 7,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 4,987,734 4,997,700 1.80 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 9,865,000 9,985,000 3.59 10,000,000 VW Credit, Inc. May 16, 2024 5.402 % 4,943,320 4,966,876 1.45 5,000,000 WGL Holdings, Inc. April 15, 2024 5.616 % 4,984,640 4,989,248 1.46 5,000,000 Total Commercial Paper $ 117,915,162 $ 118,502,058 41.97 % Total Cash Equivalents $ 224,162,062 80.01 % 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 SEP24 901 $ 154,412 0.06 % $ 20,925,725 United States wheat futures contracts CBOT wheat futures SEP24 1,599 1,513,306 0.54 47,290,425 Total commodity and cryptocurrency futures contracts $ 1,667,718 0.60 % $ 68,216,150 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 JUL24 1,072 $ 2,021,501 0.73 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 0.69 24,413,025 United States soybean futures contracts CBOT soybean futures JUL24 197 308,999 0.11 11,871,713 CBOT soybean futures NOV24 172 478,846 0.17 10,201,750 CBOT soybean futures NOV25 204 7,131 0.00 11,860,050 United States sugar futures contracts ICE sugar futures JUL24 234 594,646 0.21 5,805,072 ICE sugar futures OCT24 201 83,984 0.03 4,963,896 ICE sugar futures MAR25 233 135,771 0.05 5,769,826 United States wheat futures contracts CBOT wheat futures JUL24 1,915 3,610,065 1.30 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 3.31 55,080,000 Total commodity and cryptocurrency futures contracts $ 18,352,042 6.60 % $ 209,454,595 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,661,367 1.32 % 181,115 Teucrium Soybean Fund 3,574,703 1.29 142,076 Teucrium Sugar Fund 3,605,828 1.30 267,233 Teucrium Wheat Fund 3,673,518 1.32 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 5.23 % *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, 2023 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 39,325,186 $ 39,325,186 12.50 % 39,325,186 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 80,722,654 80,722,654 25.66 80,722,654 Total money market funds $ 120,047,840 $ 120,047,840 38.16 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 1.59 % 5,000,000 Albemarle Corporation January 4, 2024 5.753 % 4,960,764 4,997,646 1.59 5,000,000 Albemarle Corporation January 8, 2024 5.738 % 4,952,302 4,994,526 1.59 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 4,956,460 4,992,083 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 4,979,416 4,993,666 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 4,933,150 4,988,062 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 3,032,227 3,040,948 0.97 3,055,000 Entergy Corporation March 1, 2024 5.665 % 7,402,875 7,430,625 2.36 7,500,000 FMC Corporation January 19, 2024 5.816 % 7,466,634 7,478,550 2.38 7,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 2.38 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 1.58 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 2.37 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 4,949,066 4,993,634 1.59 5,000,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 7,441,200 7,462,800 2.37 7,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 7,421,323 7,446,741 2.37 7,500,000 National Fuel Gas Company January 8, 2024 5.867 % 4,960,800 4,994,400 1.59 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 0.79 2,500,000 Oracle Corporation March 6, 2024 5.562 % 4,934,904 4,950,799 1.57 5,000,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 7,437,063 7,475,063 2.38 7,500,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 1.59 5,000,000 V.F. Corporation January 18, 2024 5.606 % 4,947,292 4,987,014 1.59 5,000,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 1.57 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 4,981,792 4,998,416 1.59 5,000,000 WGL Holdings, Inc. January 12, 2024 5.849 % 7,461,666 7,486,824 2.38 7,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 7,950,009 7,985,529 2.54 8,000,000 Total Commercial Paper $ 142,223,286 $ 143,041,466 45.50 % Total Cash Equivalents $ 263,089,306 83.66 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.12 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 0.60 55,243,913 United States CME Bitcoin futures contracts CME Bitcoin futures JAN24 6 129,519 0.04 1,274,550 Total commodity and cryptocurrency futures contracts $ 2,367,012 0.76 % $ 121,044,013 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 MAY24 1,171 $ 1,102,254 0.35 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.12 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.22 28,397,400 United States soybean futures contracts CBOT soybean futures MAR24 156 617,118 0.20 10,124,400 CBOT soybean futures MAY24 133 633,749 0.20 8,693,213 CBOT soybean futures NOV24 164 140,794 0.04 10,215,150 United States sugar futures contracts ICE sugar futures MAY24 270 1,051,261 0.33 6,175,008 ICE sugar futures JUL24 233 1,128,473 0.36 5,326,193 ICE sugar futures MAR25 268 508,264 0.16 6,216,314 United States wheat futures contracts CBOT wheat futures DEC24 1,924 4,575,666 1.45 64,357,800 United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 0.02 1,288,500 Total commodity and cryptocurrency futures contracts $ 10,888,842 3.45 % $ 193,412,278 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 4,567,949 1.45 % 211,348 Teucrium Soybean Fund 4,546,758 1.45 168,219 Teucrium Sugar Fund 4,624,253 1.47 371,871 Teucrium Wheat Fund 4,662,940 1.48 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 5.85 % *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] | HASHDEX BITCOIN FUTURES ETF SCHEDULE OF INVESTMENTS March 31, 2024 (Unaudited)* *On January 3, 2024, The accompanying notes are an integral part of these financial statements. HASHDEX BITCOIN FUTURES ETF SCHEDULE OF INVESTMENTS December 31, 2023 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 1,867,663 $ 1,867,663 73.62 % 1,867,663 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 JAN24 6 $ 129,519 5.11 % $ 1,274,550 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Cryptocurrency futures contracts United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 2.03 1,288,500 |
Note 1 - Organization and Ope_7
Note 1 - Organization and Operation - Hashdex Bitcoin Futures ETF | 3 Months Ended |
Mar. 31, 2024 | |
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 10 October 30, 2023 ( January 3, 2024. 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. As reported by the registrant on a Form 8 November 7, 2023 ( No. 001 34765 October 30, 2023 ( January 3, 2024 ( one not ‘33 seven not 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 March 31, 2024 not December 31, 2024. 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 Please note that as discussed further below, as of January 3, 2024, January 3, 2024 January 3, 2024. 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 As reported by the registrant on a Form 8 November 7, 2023 ( No. 001 34765 October 30, 2023 ( January 3, 2024 ( one January 1, 2024 January 3, 2024. The sponsor of the Teucrium Trust, Teucrium Trading, LLC (“Teucrium”), is not ‘33 seven not 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 March 31, 2024 not December 31, 2024. 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 | 3 Months Ended |
Mar. 31, 2024 | |
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. Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 93,105 $ 120,560 Amount of Custody Services Waived $ 3,615 $ 7,329 Amount Recognized for Distribution Services $ 36,539 $ 38,765 Amount of Distribution Services Waived $ 1,527 $ 2,322 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
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 March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ - $ 259 Amount of Custody Services Waived $ - $ 259 Amount Recognized for Distribution Services $ - $ 60 Amount of Distribution Services Waived $ - $ 60 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Note 3 - Summary of Significa_7
Note 3 - Summary of Significant Accounting Policies - Hashdex Bitcoin Futures ETF | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ 9,706 $ 4,158 $ 2,008 $ 15,580 $ - $ 192 $ 31,644 Three months ended March 31, 2023 $ 17,270 $ 6,340 $ 6,055 $ 21,746 $ - $ 609 $ 52,020 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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 105,660,004 $ 120,047,840 Demand Deposit Savings Accounts 29,533,538 29,148,056 Commercial Paper 118,502,058 143,041,466 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 253,695,600 $ 292,237,362 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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 614,406 $ 591,603 Waived Related Party Transactions $ 25,585 $ 23,865 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 March 31, 2024 $ - $ - $ - $ - $ 69,538 $ 62,309 $ 131,847 Three months ended March 31, 2023 $ - $ - $ - $ - $ 125,494 $ 70,570 $ 196,064 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 March 31, 2024 December 31, 2023 no For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; 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 March 31, 2024 DEFI Three months ended March 31, 2024 $ 192 Three months ended March 31, 2023 $ 609 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, 2023 fifty not March 31, 2024 December 31, 2023 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 March 31, 2024 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, December 31, 2023 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 March 31, 2024 $ 62,309 Three months ended March 31, 2023 $ 70,570 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 March 31, 2024 December 31, 2023 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 | 3 Months Ended |
Mar. 31, 2024 | |
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. March 31, 2024 December 31, 2023 Assets: Level 1 Level 2 Level 3 Balance as of March 31, 2024 Cash Equivalents $ 224,162,062 $ - $ - $ 224,162,062 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 225,829,780 $ - $ - $ 225,829,780 Liabilities Level 1 Level 2 Level 3 Balance as of March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Soybean futures contracts 794,976 - - 794,976 Sugar futures contracts 814,401 - - 814,401 Wheat futures contracts 12,809,942 - - 12,809,942 Total $ 18,352,042 $ - $ - $ 18,352,042 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents $ 263,089,306 $ - $ - $ 263,089,306 Commodity and Cryptocurrency Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Bitcoin futures contracts 129,519 - - 129,519 Total $ 265,456,318 $ - $ - $ 265,456,318 Liabilities Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 Soybean futures contracts 1,391,661 - - 1,391,661 Sugar futures contracts 2,687,998 - - 2,687,998 Wheat futures contracts 4,575,666 - - 4,575,666 Bitcoin futures contracts 51,376 - - 51,376 Total $ 10,888,842 $ - $ - $ 10,888,842 For the three March 31, 2024 December 31, 2023 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. December 31, 2023 not March 31, 2024. December 31, 2023 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2023 Cash Equivalents $ 1,867,663 $ - $ - $ 1,867,663 Bitcoin futures contracts 129,519 - - 129,519 Total $ 1,997,182 $ - $ - $ 1,997,182 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2023 Bitcoin futures contracts $ 51,376 $ - $ - $ 51,376 For the three March 31, 2024 December 31, 2023 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 December 31, 2023 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 March 31, 2024 December 31, 2023 no March 31, 2024 *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 March 31, 2024 (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 $ 154,412 $ - $ 154,412 $ 154,412 $ - $ - Wheat futures contracts $ 1,513,306 $ - $ 1,513,306 $ 1,513,306 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 3,932,723 $ - $ 3,932,723 $ 154,412 $ 3,778,311 $ - Soybean futures contracts $ 794,976 $ - $ 794,976 $ - $ 794,976 $ - Sugar futures contracts $ 814,401 $ - $ 814,401 $ - $ 814,401 $ - Wheat futures contracts $ 12,809,942 $ - $ 12,809,942 $ 1,513,306 $ 11,296,636 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 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 Wheat futures contracts $ 2,237,493 $ - $ 2,237,493 $ 2,237,493 $ - $ - Bitcoin futures contracts $ 129,519 $ - $ 129,519 $ 51,376 $ - $ 78,143 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 2,182,141 $ - $ 2,182,141 $ - $ 2,182,141 $ - Soybean futures contracts $ 1,391,661 $ - $ 1,391,661 $ - $ 1,391,661 $ - Sugar futures contracts $ 2,687,998 $ - $ 2,687,998 $ - $ 2,687,998 $ - Wheat futures contracts $ 4,575,666 $ - $ 4,575,666 $ 2,237,493 $ 2,338,173 $ - Bitcoin futures contracts $ 51,376 $ - $ 51,376 $ 51,376 $ - $ - The following is a summary of realized and unrealized gains (losses) of the derivative instruments utilized by the Trust: Three months ended March 31, 2024 Realized Loss on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (3,964,335 ) $ (1,596,170 ) Soybeans futures contracts (2,632,854 ) 596,685 Sugar futures contracts (482,314 ) 1,873,597 Wheat futures contracts (10,037,305 ) (8,958,463 ) Bitcoin futures Contracts (78,143 ) 114,383 Total commodity and cryptocurrency futures contracts $ (17,194,951 ) $ (7,969,968 ) Three months ended March 31, 2023 Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (6,268,935 ) $ (3,299,360 ) Soybeans futures contracts 1,067,543 (3,699,642 ) Sugar futures contracts 1,339,448 3,139,817 Wheat futures contracts (23,358,733 ) (2,092,562 ) Bitcoin futures Contracts 629,551 128,468 Total commodity and cryptocurrency futures contracts $ (26,591,126 ) $ (5,823,279 ) Volume of Derivative Activities The average notional market value categorized by primary underlying risk for the futures contracts held was $277.8 million for the three March 31, 2024 three March 31, 2023 |
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 December 31, 2023 not March 31, 2024. Futures Contracts The Fund is subject to cryptocurrency price risk in the normal course of pursuing its investment objectives. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. The purchase and sale of futures contracts requires margin deposits with a Futures Commission Merchant (“FCM”). Subsequent payments (variation margin) are made or received by the Fund each day, depending on the daily fluctuations in the value of the contract, and are recorded as unrealized gains or losses by the Fund. Futures contracts may The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. A customer’s cash and other equity deposited with an FCM are considered commingled with all other customer funds subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) No. 2011 11 210 2013 01 210 The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk, and held by the FCMs, StoneX as of December 31, 2023 not March 31, 2024. *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 December 31, 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 from Broker* Net Amount Cryptocurrency Price Bitcoin futures contracts $ 129,519 $ - $ 129,519 $ 51,376 $ - $ 78,143 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 Cryptocurrency Price Bitcoin futures contracts $ 51,376 $ - $ 51,376 $ 51,376 $ - $ - 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 March 31, 2024 Realized Loss on Cryptocurrency Futures Contracts Net Change in Unrealized Appreciation on Cryptocurrency Futures Contracts Cryptocurrency Price Bitcoin futures Contracts $ (78,143 ) $ 114,383 Three months ended March 31, 2023 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 for the three March 31, 2023 |
Note 6 - Financial Highlights_5
Note 6 - Financial Highlights - Hashdex Bitcoin Futures ETF | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 March 31, 2023 Three months ended Three months ended March 31, 2024 March 31, 2023 Per Share Operation Performance Net asset value at beginning of period $ 50.74 $ 21.40 Income (loss) from investment operations: Interest income 0.02 0.27 Net assets transferred to Acquired Fund (51.48 ) Net realized and unrealized gain on cryptocurrency futures contracts 0.72 15.16 Total expenses, net 0.00 (0.07 ) Net (decrease) increase in net asset value (50.74 ) 15.36 Net asset value at end of period $ - $ 36.76 Total Return 0.00 % 71.79 % Ratios to Average Net Assets (Annualized) Total expenses 286.28 % 20.48 % Total expenses, net 0.92 % 0.94 % Net investment income 4.00 % 2.78 % 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 8 Subsequent Events Management has evaluated the financial statements for the quarter-ended March 31, 2024 no Trust: Legal Matters: April 26, 2024 May 17, 2024. Dale Riker v. Sal Gilbertie et al. 656794/2020 Sal Gilbertie, et. al. v. Dale Riker, et al. 2020 1018 Dale Riker, et al. v. Teucrium Trading, LLC 2022 1030 CORN: Nothing to report. SOYB: Nothing to report. CANE: The net assets of the fund decreased by $3,645,989, or 22.1%, for the period March 31, 2024 May 9, 2024. WEAT: Nothing to report. TAGS: Nothing to report. DEFI: Nothing to report. |
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 March 31, 2024 no |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 5. (a) None (b) Not |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ 9,706 $ 4,158 $ 2,008 $ 15,580 $ - $ 192 $ 31,644 Three months ended March 31, 2023 $ 17,270 $ 6,340 $ 6,055 $ 21,746 $ - $ 609 $ 52,020 |
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 2021 2023, fifty not March 31, 2024 December 31, 2023 2022 2021 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 March 31, 2024 2023 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 March 31, 2024 December 31, 2023 Money Market Funds $ 105,660,004 $ 120,047,840 Demand Deposit Savings Accounts 29,533,538 29,148,056 Commercial Paper 118,502,058 143,041,466 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 253,695,600 $ 292,237,362 |
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 March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 614,406 $ 591,603 Waived Related Party Transactions $ 25,585 $ 23,865 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 March 31, 2024 $ - $ - $ - $ - $ 69,538 $ 62,309 $ 131,847 Three months ended March 31, 2023 $ - $ - $ - $ - $ 125,494 $ 70,570 $ 196,064 |
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 March 31, 2024 December 31, 2023 no For the three March 31, 2024 December 31, 2023 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 06 December 31, 2023. no The FASB issued ASU 2023 01, 842 842 March 31, 2023; not |
Combined Schedule of Investme_2
Combined Schedule of Investments (Unaudited) (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 5.240 % $ 22,987,077 $ 22,987,077 8.28 % 22,987,077 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 82,672,927 82,672,927 29.76 82,672,927 Total money market funds $ 105,660,004 $ 105,660,004 38.04 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 1.78 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 0.90 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 4,946,334 4,970,444 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 4,929,376 4,964,688 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 0.89 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 4,955,696 4,977,084 1.79 5,000,000 The Cigna Group April 5, 2024 5.501 % 2,970,300 2,998,200 1.08 3,000,000 Crown Castle Inc. April 18, 2024 5.530 % 9,945,600 9,974,312 3.59 10,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 1.79 5,000,000 FMC Corporation April 22, 2024 5.755 % 2,487,815 2,491,746 0.90 2,500,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 1.79 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 3,465,928 3,485,545 1.25 3,500,000 Glencore Funding LLC April 16, 2024 5.490 % 7,456,125 7,483,125 2.69 7,500,000 Glencore Funding LLC April 30, 2024 5.493 % 4,964,750 4,978,250 1.79 5,000,000 Glencore Funding LLC May 10, 2024 5.475 % 7,440,597 7,456,287 2.68 7,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 0.90 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 4,943,792 4,964,376 1.79 5,000,000 National Fuel Gas Company April 4, 2024 5.544 % 7,476,113 7,496,588 2.70 7,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 4,987,734 4,997,700 1.80 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 9,865,000 9,985,000 3.59 10,000,000 VW Credit, Inc. May 16, 2024 5.402 % 4,943,320 4,966,876 1.45 5,000,000 WGL Holdings, Inc. April 15, 2024 5.616 % 4,984,640 4,989,248 1.46 5,000,000 Total Commercial Paper $ 117,915,162 $ 118,502,058 41.97 % Total Cash Equivalents $ 224,162,062 80.01 % 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 SEP24 901 $ 154,412 0.06 % $ 20,925,725 United States wheat futures contracts CBOT wheat futures SEP24 1,599 1,513,306 0.54 47,290,425 Total commodity and cryptocurrency futures contracts $ 1,667,718 0.60 % $ 68,216,150 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 JUL24 1,072 $ 2,021,501 0.73 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 0.69 24,413,025 United States soybean futures contracts CBOT soybean futures JUL24 197 308,999 0.11 11,871,713 CBOT soybean futures NOV24 172 478,846 0.17 10,201,750 CBOT soybean futures NOV25 204 7,131 0.00 11,860,050 United States sugar futures contracts ICE sugar futures JUL24 234 594,646 0.21 5,805,072 ICE sugar futures OCT24 201 83,984 0.03 4,963,896 ICE sugar futures MAR25 233 135,771 0.05 5,769,826 United States wheat futures contracts CBOT wheat futures JUL24 1,915 3,610,065 1.30 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 3.31 55,080,000 Total commodity and cryptocurrency futures contracts $ 18,352,042 6.60 % $ 209,454,595 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,661,367 1.32 % 181,115 Teucrium Soybean Fund 3,574,703 1.29 142,076 Teucrium Sugar Fund 3,605,828 1.30 267,233 Teucrium Wheat Fund 3,673,518 1.32 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 5.23 % Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 39,325,186 $ 39,325,186 12.50 % 39,325,186 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 80,722,654 80,722,654 25.66 80,722,654 Total money market funds $ 120,047,840 $ 120,047,840 38.16 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 1.59 % 5,000,000 Albemarle Corporation January 4, 2024 5.753 % 4,960,764 4,997,646 1.59 5,000,000 Albemarle Corporation January 8, 2024 5.738 % 4,952,302 4,994,526 1.59 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 4,956,460 4,992,083 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 4,979,416 4,993,666 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 4,933,150 4,988,062 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 3,032,227 3,040,948 0.97 3,055,000 Entergy Corporation March 1, 2024 5.665 % 7,402,875 7,430,625 2.36 7,500,000 FMC Corporation January 19, 2024 5.816 % 7,466,634 7,478,550 2.38 7,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 2.38 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 1.58 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 2.37 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 4,949,066 4,993,634 1.59 5,000,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 7,441,200 7,462,800 2.37 7,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 7,421,323 7,446,741 2.37 7,500,000 National Fuel Gas Company January 8, 2024 5.867 % 4,960,800 4,994,400 1.59 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 0.79 2,500,000 Oracle Corporation March 6, 2024 5.562 % 4,934,904 4,950,799 1.57 5,000,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 7,437,063 7,475,063 2.38 7,500,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 1.59 5,000,000 V.F. Corporation January 18, 2024 5.606 % 4,947,292 4,987,014 1.59 5,000,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 1.57 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 4,981,792 4,998,416 1.59 5,000,000 WGL Holdings, Inc. January 12, 2024 5.849 % 7,461,666 7,486,824 2.38 7,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 7,950,009 7,985,529 2.54 8,000,000 Total Commercial Paper $ 142,223,286 $ 143,041,466 45.50 % Total Cash Equivalents $ 263,089,306 83.66 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.12 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 0.60 55,243,913 United States CME Bitcoin futures contracts CME Bitcoin futures JAN24 6 129,519 0.04 1,274,550 Total commodity and cryptocurrency futures contracts $ 2,367,012 0.76 % $ 121,044,013 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 MAY24 1,171 $ 1,102,254 0.35 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.12 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.22 28,397,400 United States soybean futures contracts CBOT soybean futures MAR24 156 617,118 0.20 10,124,400 CBOT soybean futures MAY24 133 633,749 0.20 8,693,213 CBOT soybean futures NOV24 164 140,794 0.04 10,215,150 United States sugar futures contracts ICE sugar futures MAY24 270 1,051,261 0.33 6,175,008 ICE sugar futures JUL24 233 1,128,473 0.36 5,326,193 ICE sugar futures MAR25 268 508,264 0.16 6,216,314 United States wheat futures contracts CBOT wheat futures DEC24 1,924 4,575,666 1.45 64,357,800 United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 0.02 1,288,500 Total commodity and cryptocurrency futures contracts $ 10,888,842 3.45 % $ 193,412,278 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 4,567,949 1.45 % 211,348 Teucrium Soybean Fund 4,546,758 1.45 168,219 Teucrium Sugar Fund 4,624,253 1.47 371,871 Teucrium Wheat Fund 4,662,940 1.48 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 5.85 % |
Note 2 - Principal Contracts _8
Note 2 - Principal Contracts and Agreements (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 93,105 $ 120,560 Amount of Custody Services Waived $ 3,615 $ 7,329 Amount Recognized for Distribution Services $ 36,539 $ 38,765 Amount of Distribution Services Waived $ 1,527 $ 2,322 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Note 3 - Summary of Significa_8
Note 3 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ 9,706 $ 4,158 $ 2,008 $ 15,580 $ - $ 192 $ 31,644 Three months ended March 31, 2023 $ 17,270 $ 6,340 $ 6,055 $ 21,746 $ - $ 609 $ 52,020 |
Schedule of Cash and Cash Equivalents [Table Text Block] | March 31, 2024 December 31, 2023 Money Market Funds $ 105,660,004 $ 120,047,840 Demand Deposit Savings Accounts 29,533,538 29,148,056 Commercial Paper 118,502,058 143,041,466 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 253,695,600 $ 292,237,362 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 614,406 $ 591,603 Waived Related Party Transactions $ 25,585 $ 23,865 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ - $ - $ - $ - $ 69,538 $ 62,309 $ 131,847 Three months ended March 31, 2023 $ - $ - $ - $ - $ 125,494 $ 70,570 $ 196,064 |
Note 4 - Fair Value Measureme_8
Note 4 - Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 Cash Equivalents $ 224,162,062 $ - $ - $ 224,162,062 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 225,829,780 $ - $ - $ 225,829,780 Liabilities Level 1 Level 2 Level 3 Balance as of March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Soybean futures contracts 794,976 - - 794,976 Sugar futures contracts 814,401 - - 814,401 Wheat futures contracts 12,809,942 - - 12,809,942 Total $ 18,352,042 $ - $ - $ 18,352,042 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents $ 263,089,306 $ - $ - $ 263,089,306 Commodity and Cryptocurrency Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Bitcoin futures contracts 129,519 - - 129,519 Total $ 265,456,318 $ - $ - $ 265,456,318 Liabilities Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 Soybean futures contracts 1,391,661 - - 1,391,661 Sugar futures contracts 2,687,998 - - 2,687,998 Wheat futures contracts 4,575,666 - - 4,575,666 Bitcoin futures contracts 51,376 - - 51,376 Total $ 10,888,842 $ - $ - $ 10,888,842 |
Note 5 - Derivative Instrumen_7
Note 5 - Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 (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 $ 154,412 $ - $ 154,412 $ 154,412 $ - $ - Wheat futures contracts $ 1,513,306 $ - $ 1,513,306 $ 1,513,306 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 3,932,723 $ - $ 3,932,723 $ 154,412 $ 3,778,311 $ - Soybean futures contracts $ 794,976 $ - $ 794,976 $ - $ 794,976 $ - Sugar futures contracts $ 814,401 $ - $ 814,401 $ - $ 814,401 $ - Wheat futures contracts $ 12,809,942 $ - $ 12,809,942 $ 1,513,306 $ 11,296,636 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 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 Wheat futures contracts $ 2,237,493 $ - $ 2,237,493 $ 2,237,493 $ - $ - Bitcoin futures contracts $ 129,519 $ - $ 129,519 $ 51,376 $ - $ 78,143 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 2,182,141 $ - $ 2,182,141 $ - $ 2,182,141 $ - Soybean futures contracts $ 1,391,661 $ - $ 1,391,661 $ - $ 1,391,661 $ - Sugar futures contracts $ 2,687,998 $ - $ 2,687,998 $ - $ 2,687,998 $ - Wheat futures contracts $ 4,575,666 $ - $ 4,575,666 $ 2,237,493 $ 2,338,173 $ - Bitcoin futures contracts $ 51,376 $ - $ 51,376 $ 51,376 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (3,964,335 ) $ (1,596,170 ) Soybeans futures contracts (2,632,854 ) 596,685 Sugar futures contracts (482,314 ) 1,873,597 Wheat futures contracts (10,037,305 ) (8,958,463 ) Bitcoin futures Contracts (78,143 ) 114,383 Total commodity and cryptocurrency futures contracts $ (17,194,951 ) $ (7,969,968 ) Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (6,268,935 ) $ (3,299,360 ) Soybeans futures contracts 1,067,543 (3,699,642 ) Sugar futures contracts 1,339,448 3,139,817 Wheat futures contracts (23,358,733 ) (2,092,562 ) Bitcoin futures Contracts 629,551 128,468 Total commodity and cryptocurrency futures contracts $ (26,591,126 ) $ (5,823,279 ) |
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) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Distribution of Assets, Liabilities and Stockholders' Equity [Table Text Block] | Outstanding Shares Net Assets Teucrium Corn Fund 3,450,004 $ 69,744,097 Teucrium Soybean Fund 1,350,004 33,966,763 Teucrium Sugar Fund 1,225,004 16,529,172 Teucrium Wheat Fund 29,250,004 157,537,309 Teucrium Agricultural Fund: 512,502 Net assets including the investment in the Underlying Funds 14,526,883 Less: Investment in the Underlying Funds (14,515,416 ) Net for the Fund in the combined net assets of the Trust 11,467 Total $ 277,788,808 Outstanding Shares Net Assets Teucrium Corn Fund 3,750,004 $ 81,050,442 Teucrium Soybean Fund 1,075,004 29,056,020 Teucrium Sugar Fund 1,425,004 17,720,099 Teucrium Wheat Fund 30,800,004 184,176,669 Hashdex Bitcoin Futures ETF 50,000 2,536,958 Teucrium Agricultural Fund: 625,002 Net assets including the investment in the Underlying Funds 18,409,126 Less: Investment in the Underlying Funds (18,401,900 ) Net for the Fund in the combined net assets of the Trust 7,226 Total $ 314,547,414 |
Schedule of Investments (Unau_7
Schedule of Investments (Unaudited) - Teucrium Corn Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 5.240 % $ 22,987,077 $ 22,987,077 8.28 % 22,987,077 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 82,672,927 82,672,927 29.76 82,672,927 Total money market funds $ 105,660,004 $ 105,660,004 38.04 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 1.78 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 0.90 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 4,946,334 4,970,444 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 4,929,376 4,964,688 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 0.89 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 4,955,696 4,977,084 1.79 5,000,000 The Cigna Group April 5, 2024 5.501 % 2,970,300 2,998,200 1.08 3,000,000 Crown Castle Inc. April 18, 2024 5.530 % 9,945,600 9,974,312 3.59 10,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 1.79 5,000,000 FMC Corporation April 22, 2024 5.755 % 2,487,815 2,491,746 0.90 2,500,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 1.79 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 3,465,928 3,485,545 1.25 3,500,000 Glencore Funding LLC April 16, 2024 5.490 % 7,456,125 7,483,125 2.69 7,500,000 Glencore Funding LLC April 30, 2024 5.493 % 4,964,750 4,978,250 1.79 5,000,000 Glencore Funding LLC May 10, 2024 5.475 % 7,440,597 7,456,287 2.68 7,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 0.90 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 4,943,792 4,964,376 1.79 5,000,000 National Fuel Gas Company April 4, 2024 5.544 % 7,476,113 7,496,588 2.70 7,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 4,987,734 4,997,700 1.80 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 9,865,000 9,985,000 3.59 10,000,000 VW Credit, Inc. May 16, 2024 5.402 % 4,943,320 4,966,876 1.45 5,000,000 WGL Holdings, Inc. April 15, 2024 5.616 % 4,984,640 4,989,248 1.46 5,000,000 Total Commercial Paper $ 117,915,162 $ 118,502,058 41.97 % Total Cash Equivalents $ 224,162,062 80.01 % 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 SEP24 901 $ 154,412 0.06 % $ 20,925,725 United States wheat futures contracts CBOT wheat futures SEP24 1,599 1,513,306 0.54 47,290,425 Total commodity and cryptocurrency futures contracts $ 1,667,718 0.60 % $ 68,216,150 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 JUL24 1,072 $ 2,021,501 0.73 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 0.69 24,413,025 United States soybean futures contracts CBOT soybean futures JUL24 197 308,999 0.11 11,871,713 CBOT soybean futures NOV24 172 478,846 0.17 10,201,750 CBOT soybean futures NOV25 204 7,131 0.00 11,860,050 United States sugar futures contracts ICE sugar futures JUL24 234 594,646 0.21 5,805,072 ICE sugar futures OCT24 201 83,984 0.03 4,963,896 ICE sugar futures MAR25 233 135,771 0.05 5,769,826 United States wheat futures contracts CBOT wheat futures JUL24 1,915 3,610,065 1.30 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 3.31 55,080,000 Total commodity and cryptocurrency futures contracts $ 18,352,042 6.60 % $ 209,454,595 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,661,367 1.32 % 181,115 Teucrium Soybean Fund 3,574,703 1.29 142,076 Teucrium Sugar Fund 3,605,828 1.30 267,233 Teucrium Wheat Fund 3,673,518 1.32 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 5.23 % Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 39,325,186 $ 39,325,186 12.50 % 39,325,186 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 80,722,654 80,722,654 25.66 80,722,654 Total money market funds $ 120,047,840 $ 120,047,840 38.16 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 1.59 % 5,000,000 Albemarle Corporation January 4, 2024 5.753 % 4,960,764 4,997,646 1.59 5,000,000 Albemarle Corporation January 8, 2024 5.738 % 4,952,302 4,994,526 1.59 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 4,956,460 4,992,083 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 4,979,416 4,993,666 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 4,933,150 4,988,062 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 3,032,227 3,040,948 0.97 3,055,000 Entergy Corporation March 1, 2024 5.665 % 7,402,875 7,430,625 2.36 7,500,000 FMC Corporation January 19, 2024 5.816 % 7,466,634 7,478,550 2.38 7,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 2.38 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 1.58 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 2.37 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 4,949,066 4,993,634 1.59 5,000,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 7,441,200 7,462,800 2.37 7,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 7,421,323 7,446,741 2.37 7,500,000 National Fuel Gas Company January 8, 2024 5.867 % 4,960,800 4,994,400 1.59 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 0.79 2,500,000 Oracle Corporation March 6, 2024 5.562 % 4,934,904 4,950,799 1.57 5,000,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 7,437,063 7,475,063 2.38 7,500,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 1.59 5,000,000 V.F. Corporation January 18, 2024 5.606 % 4,947,292 4,987,014 1.59 5,000,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 1.57 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 4,981,792 4,998,416 1.59 5,000,000 WGL Holdings, Inc. January 12, 2024 5.849 % 7,461,666 7,486,824 2.38 7,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 7,950,009 7,985,529 2.54 8,000,000 Total Commercial Paper $ 142,223,286 $ 143,041,466 45.50 % Total Cash Equivalents $ 263,089,306 83.66 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.12 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 0.60 55,243,913 United States CME Bitcoin futures contracts CME Bitcoin futures JAN24 6 129,519 0.04 1,274,550 Total commodity and cryptocurrency futures contracts $ 2,367,012 0.76 % $ 121,044,013 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 MAY24 1,171 $ 1,102,254 0.35 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.12 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.22 28,397,400 United States soybean futures contracts CBOT soybean futures MAR24 156 617,118 0.20 10,124,400 CBOT soybean futures MAY24 133 633,749 0.20 8,693,213 CBOT soybean futures NOV24 164 140,794 0.04 10,215,150 United States sugar futures contracts ICE sugar futures MAY24 270 1,051,261 0.33 6,175,008 ICE sugar futures JUL24 233 1,128,473 0.36 5,326,193 ICE sugar futures MAR25 268 508,264 0.16 6,216,314 United States wheat futures contracts CBOT wheat futures DEC24 1,924 4,575,666 1.45 64,357,800 United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 0.02 1,288,500 Total commodity and cryptocurrency futures contracts $ 10,888,842 3.45 % $ 193,412,278 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 4,567,949 1.45 % 211,348 Teucrium Soybean Fund 4,546,758 1.45 168,219 Teucrium Sugar Fund 4,624,253 1.47 371,871 Teucrium Wheat Fund 4,662,940 1.48 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 5.85 % |
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 5.240 % $ 3,095,240 $ 3,095,240 4.44 % 3,095,240 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 17,795,011 17,795,011 25.51 17,795,011 Total money market funds $ 20,890,251 $ 20,890,251 29.95 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 2,473,167 $ 2,485,222 3.56 % 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 3.56 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 2,464,688 2,482,344 3.56 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 2,477,848 2,488,542 3.57 2,500,000 Crown Castle Inc. April 18, 2024 5.530 % 4,972,800 4,987,156 7.15 5,000,000 Glencore Funding LLC April 16, 2024 5.490 % 2,485,375 2,494,375 3.58 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 2,471,896 2,482,188 3.56 2,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 2,493,867 2,498,850 3.58 2,500,000 VW Credit, Inc. April 11, 2024 5.511 % 4,932,500 4,992,500 7.16 5,000,000 VW Credit, Inc. May 16, 2024 5.402 % 2,471,660 2,483,438 3.56 2,500,000 WGL Holdings, Inc. April 15, 2024 5.616 % 2,492,320 2,494,624 3.58 2,500,000 Total Commercial Paper $ 32,200,746 $ 32,372,337 46.42 % Total Cash Equivalents $ 53,262,588 76.37 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States corn futures contracts CBOT Corn Futures SEP24 901 $ 154,412 0.22 % $ 20,925,725 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 JUL24 1,072 $ 2,021,501 2.90 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 2.74 24,413,025 Total commodity futures contracts $ 3,932,723 5.64 % $ 48,774,225 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 7,523,423 $ 7,523,423 9.28 % 7,523,423 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 19,050,119 19,050,119 23.51 19,050,119 Total money market funds $ 26,573,542 $ 26,573,542 32.79 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 6.17 % 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 2,478,230 2,496,042 3.08 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 2,489,708 2,496,833 3.08 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 2,466,575 2,494,031 3.08 2,500,000 Entergy Corporation March 1, 2024 5.665 % 2,467,625 2,476,875 3.06 2,500,000 FMC Corporation January 19, 2024 5.816 % 2,488,878 2,492,850 3.07 2,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 2,474,533 2,496,817 3.08 2,500,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 2,480,400 2,487,600 3.07 2,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 2,473,774 2,482,247 3.06 2,500,000 National Fuel Gas Company January 8, 2024 5.867 % 2,480,400 2,497,200 3.08 2,500,000 Oracle Corporation March 6, 2024 5.562 % 2,467,452 2,475,400 3.05 2,500,000 V.F. Corporation January 18, 2024 5.606 % 2,473,646 2,493,507 3.08 2,500,000 WGL Holdings, Inc. January 3, 2024 5.793 % 2,490,896 2,499,208 3.08 2,500,000 WGL Holdings, Inc. January 12, 2024 5.849 % 2,487,222 2,495,608 3.08 2,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 2,484,378 2,495,478 3.08 2,500,000 Total Commercial Paper $ 39,654,192 $ 39,878,124 49.20 % Total Cash Equivalents $ 66,451,666 81.99 % 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 MAY24 1,171 $ 1,102,254 1.36 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.47 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.86 28,397,400 Total commodity futures contracts $ 2,182,141 2.69 % $ 81,015,700 |
Note 1 - Organization and Ope_8
Note 1 - Organization and Operation - Teucrium Corn Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 93,105 $ 120,560 Amount of Custody Services Waived $ 3,615 $ 7,329 Amount Recognized for Distribution Services $ 36,539 $ 38,765 Amount of Distribution Services Waived $ 1,527 $ 2,322 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Teucrium Corn Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 21,972 $ 33,044 Amount of Custody Services Waived $ - $ - Amount Recognized for Distribution Services $ 8,128 $ 10,053 Amount of Distribution Services Waived $ - $ - Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Note 3 - Summary of Significa_9
Note 3 - Summary of Significant Accounting Policies - Teucrium Corn Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ 9,706 $ 4,158 $ 2,008 $ 15,580 $ - $ 192 $ 31,644 Three months ended March 31, 2023 $ 17,270 $ 6,340 $ 6,055 $ 21,746 $ - $ 609 $ 52,020 |
Schedule of Cash and Cash Equivalents [Table Text Block] | March 31, 2024 December 31, 2023 Money Market Funds $ 105,660,004 $ 120,047,840 Demand Deposit Savings Accounts 29,533,538 29,148,056 Commercial Paper 118,502,058 143,041,466 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 253,695,600 $ 292,237,362 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 614,406 $ 591,603 Waived Related Party Transactions $ 25,585 $ 23,865 |
Teucrium Corn Fund [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN Three months ended March 31, 2024 $ 9,706 Three months ended March 31, 2023 $ 17,270 |
Schedule of Cash and Cash Equivalents [Table Text Block] | March 31, 2024 December 31, 2023 Money Market Funds $ 20,890,251 $ 26,573,542 Demand Deposit Savings Accounts 10,429,941 10,293,805 Commercial Paper 32,372,337 39,878,124 Total cash and cash equivalents as presented on the Statements of Assets and Liabilities $ 63,692,529 $ 76,745,471 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 136,525 $ 154,915 Waived Related Party Transactions $ - $ - |
Note 4 - Fair Value Measureme_9
Note 4 - Fair Value Measurements - Teucrium Corn Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 Cash Equivalents $ 224,162,062 $ - $ - $ 224,162,062 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 225,829,780 $ - $ - $ 225,829,780 Liabilities Level 1 Level 2 Level 3 Balance as of March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Soybean futures contracts 794,976 - - 794,976 Sugar futures contracts 814,401 - - 814,401 Wheat futures contracts 12,809,942 - - 12,809,942 Total $ 18,352,042 $ - $ - $ 18,352,042 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents $ 263,089,306 $ - $ - $ 263,089,306 Commodity and Cryptocurrency Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Bitcoin futures contracts 129,519 - - 129,519 Total $ 265,456,318 $ - $ - $ 265,456,318 Liabilities Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 Soybean futures contracts 1,391,661 - - 1,391,661 Sugar futures contracts 2,687,998 - - 2,687,998 Wheat futures contracts 4,575,666 - - 4,575,666 Bitcoin futures contracts 51,376 - - 51,376 Total $ 10,888,842 $ - $ - $ 10,888,842 |
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 March 31, 2024 Cash Equivalents $ 53,262,588 $ - $ - $ 53,262,588 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Total $ 53,417,000 $ - $ - $ 53,417,000 Balance as of Liabilities Level 1 Level 2 Level 3 March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2023 Cash Equivalents $ 66,451,666 $ - $ - $ 66,451,666 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2023 Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 |
Note 5 - Derivative Instrumen_8
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Corn Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 (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 $ 154,412 $ - $ 154,412 $ 154,412 $ - $ - Wheat futures contracts $ 1,513,306 $ - $ 1,513,306 $ 1,513,306 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 3,932,723 $ - $ 3,932,723 $ 154,412 $ 3,778,311 $ - Soybean futures contracts $ 794,976 $ - $ 794,976 $ - $ 794,976 $ - Sugar futures contracts $ 814,401 $ - $ 814,401 $ - $ 814,401 $ - Wheat futures contracts $ 12,809,942 $ - $ 12,809,942 $ 1,513,306 $ 11,296,636 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 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 Wheat futures contracts $ 2,237,493 $ - $ 2,237,493 $ 2,237,493 $ - $ - Bitcoin futures contracts $ 129,519 $ - $ 129,519 $ 51,376 $ - $ 78,143 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 2,182,141 $ - $ 2,182,141 $ - $ 2,182,141 $ - Soybean futures contracts $ 1,391,661 $ - $ 1,391,661 $ - $ 1,391,661 $ - Sugar futures contracts $ 2,687,998 $ - $ 2,687,998 $ - $ 2,687,998 $ - Wheat futures contracts $ 4,575,666 $ - $ 4,575,666 $ 2,237,493 $ 2,338,173 $ - Bitcoin futures contracts $ 51,376 $ - $ 51,376 $ 51,376 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (3,964,335 ) $ (1,596,170 ) Soybeans futures contracts (2,632,854 ) 596,685 Sugar futures contracts (482,314 ) 1,873,597 Wheat futures contracts (10,037,305 ) (8,958,463 ) Bitcoin futures Contracts (78,143 ) 114,383 Total commodity and cryptocurrency futures contracts $ (17,194,951 ) $ (7,969,968 ) Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (6,268,935 ) $ (3,299,360 ) Soybeans futures contracts 1,067,543 (3,699,642 ) Sugar futures contracts 1,339,448 3,139,817 Wheat futures contracts (23,358,733 ) (2,092,562 ) Bitcoin futures Contracts 629,551 128,468 Total commodity and cryptocurrency futures contracts $ (26,591,126 ) $ (5,823,279 ) |
Teucrium Corn Fund [Member] | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | (i) (ii) (iii) = (i)-(ii) (iv) (v)=(iii)-(iv) Gross Amount Not Offset in the Statement of Assets and Liabilities Description Gross Amount of Recognized Assets Gross Amount Offset in the Statement of Assets and Liabilities Net Amount Presented in the Statement of Assets and Liabilities Futures Contracts Available for Offset Collateral, Due to Broker Net Amount Commodity Price Corn futures contracts $ 154,412 $ - $ 154,412 $ 154,412 $ - $ - (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 $ 3,932,723 $ - $ 3,932,723 $ 154,412 $ 3,778,311 $ - (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 $ 2,182,141 $ - $ 2,182,141 $ - $ 2,182,141 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (3,964,335 ) $ (1,596,170 ) Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Corn futures contracts $ (6,268,935 ) $ (3,299,360 ) |
Note 6 - Financial Highlights_6
Note 6 - Financial Highlights - Teucrium Corn Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Teucrium Corn Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Three months ended Three months ended March 31, 2024 March 31, 2023 Per Share Operation Performance Net asset value at beginning of period $ 21.61 $ 26.90 Income from investment operations: Interest income 0.27 0.28 Net realized and unrealized loss on commodity futures contracts (1.53 ) (1.77 ) Total expenses, net (0.13 ) (0.14 ) Net decrease in net asset value (1.39 ) (1.63 ) Net asset value at end of period $ 20.22 $ 25.27 Total Return -6.47 % -6.03 % Ratios to Average Net Assets (Annualized) Total expenses 2.72 % 2.13 % Total expenses, net 2.72 % 2.13 % Net investment income 2.60 % 2.29 % |
Schedule of Investments (Unau_8
Schedule of Investments (Unaudited) - Teucrium Soybean Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 5.240 % $ 22,987,077 $ 22,987,077 8.28 % 22,987,077 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 82,672,927 82,672,927 29.76 82,672,927 Total money market funds $ 105,660,004 $ 105,660,004 38.04 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 1.78 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 0.90 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 4,946,334 4,970,444 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 4,929,376 4,964,688 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 0.89 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 4,955,696 4,977,084 1.79 5,000,000 The Cigna Group April 5, 2024 5.501 % 2,970,300 2,998,200 1.08 3,000,000 Crown Castle Inc. April 18, 2024 5.530 % 9,945,600 9,974,312 3.59 10,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 1.79 5,000,000 FMC Corporation April 22, 2024 5.755 % 2,487,815 2,491,746 0.90 2,500,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 1.79 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 3,465,928 3,485,545 1.25 3,500,000 Glencore Funding LLC April 16, 2024 5.490 % 7,456,125 7,483,125 2.69 7,500,000 Glencore Funding LLC April 30, 2024 5.493 % 4,964,750 4,978,250 1.79 5,000,000 Glencore Funding LLC May 10, 2024 5.475 % 7,440,597 7,456,287 2.68 7,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 0.90 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 4,943,792 4,964,376 1.79 5,000,000 National Fuel Gas Company April 4, 2024 5.544 % 7,476,113 7,496,588 2.70 7,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 4,987,734 4,997,700 1.80 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 9,865,000 9,985,000 3.59 10,000,000 VW Credit, Inc. May 16, 2024 5.402 % 4,943,320 4,966,876 1.45 5,000,000 WGL Holdings, Inc. April 15, 2024 5.616 % 4,984,640 4,989,248 1.46 5,000,000 Total Commercial Paper $ 117,915,162 $ 118,502,058 41.97 % Total Cash Equivalents $ 224,162,062 80.01 % 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 SEP24 901 $ 154,412 0.06 % $ 20,925,725 United States wheat futures contracts CBOT wheat futures SEP24 1,599 1,513,306 0.54 47,290,425 Total commodity and cryptocurrency futures contracts $ 1,667,718 0.60 % $ 68,216,150 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 JUL24 1,072 $ 2,021,501 0.73 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 0.69 24,413,025 United States soybean futures contracts CBOT soybean futures JUL24 197 308,999 0.11 11,871,713 CBOT soybean futures NOV24 172 478,846 0.17 10,201,750 CBOT soybean futures NOV25 204 7,131 0.00 11,860,050 United States sugar futures contracts ICE sugar futures JUL24 234 594,646 0.21 5,805,072 ICE sugar futures OCT24 201 83,984 0.03 4,963,896 ICE sugar futures MAR25 233 135,771 0.05 5,769,826 United States wheat futures contracts CBOT wheat futures JUL24 1,915 3,610,065 1.30 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 3.31 55,080,000 Total commodity and cryptocurrency futures contracts $ 18,352,042 6.60 % $ 209,454,595 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,661,367 1.32 % 181,115 Teucrium Soybean Fund 3,574,703 1.29 142,076 Teucrium Sugar Fund 3,605,828 1.30 267,233 Teucrium Wheat Fund 3,673,518 1.32 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 5.23 % Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 39,325,186 $ 39,325,186 12.50 % 39,325,186 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 80,722,654 80,722,654 25.66 80,722,654 Total money market funds $ 120,047,840 $ 120,047,840 38.16 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 1.59 % 5,000,000 Albemarle Corporation January 4, 2024 5.753 % 4,960,764 4,997,646 1.59 5,000,000 Albemarle Corporation January 8, 2024 5.738 % 4,952,302 4,994,526 1.59 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 4,956,460 4,992,083 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 4,979,416 4,993,666 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 4,933,150 4,988,062 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 3,032,227 3,040,948 0.97 3,055,000 Entergy Corporation March 1, 2024 5.665 % 7,402,875 7,430,625 2.36 7,500,000 FMC Corporation January 19, 2024 5.816 % 7,466,634 7,478,550 2.38 7,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 2.38 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 1.58 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 2.37 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 4,949,066 4,993,634 1.59 5,000,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 7,441,200 7,462,800 2.37 7,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 7,421,323 7,446,741 2.37 7,500,000 National Fuel Gas Company January 8, 2024 5.867 % 4,960,800 4,994,400 1.59 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 0.79 2,500,000 Oracle Corporation March 6, 2024 5.562 % 4,934,904 4,950,799 1.57 5,000,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 7,437,063 7,475,063 2.38 7,500,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 1.59 5,000,000 V.F. Corporation January 18, 2024 5.606 % 4,947,292 4,987,014 1.59 5,000,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 1.57 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 4,981,792 4,998,416 1.59 5,000,000 WGL Holdings, Inc. January 12, 2024 5.849 % 7,461,666 7,486,824 2.38 7,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 7,950,009 7,985,529 2.54 8,000,000 Total Commercial Paper $ 142,223,286 $ 143,041,466 45.50 % Total Cash Equivalents $ 263,089,306 83.66 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.12 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 0.60 55,243,913 United States CME Bitcoin futures contracts CME Bitcoin futures JAN24 6 129,519 0.04 1,274,550 Total commodity and cryptocurrency futures contracts $ 2,367,012 0.76 % $ 121,044,013 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 MAY24 1,171 $ 1,102,254 0.35 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.12 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.22 28,397,400 United States soybean futures contracts CBOT soybean futures MAR24 156 617,118 0.20 10,124,400 CBOT soybean futures MAY24 133 633,749 0.20 8,693,213 CBOT soybean futures NOV24 164 140,794 0.04 10,215,150 United States sugar futures contracts ICE sugar futures MAY24 270 1,051,261 0.33 6,175,008 ICE sugar futures JUL24 233 1,128,473 0.36 5,326,193 ICE sugar futures MAR25 268 508,264 0.16 6,216,314 United States wheat futures contracts CBOT wheat futures DEC24 1,924 4,575,666 1.45 64,357,800 United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 0.02 1,288,500 Total commodity and cryptocurrency futures contracts $ 10,888,842 3.45 % $ 193,412,278 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 4,567,949 1.45 % 211,348 Teucrium Soybean Fund 4,546,758 1.45 168,219 Teucrium Sugar Fund 4,624,253 1.47 371,871 Teucrium Wheat Fund 4,662,940 1.48 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 5.85 % |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Investment [Table Text Block] | Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds First American Government Obligations Fund - Class X 5.240 % $ 7,780,493 $ 7,780,493 22.91 % 7,780,493 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 4,447,673 4,447,673 13.09 4,447,673 Total money market funds $ 12,228,166 $ 12,228,166 36.00 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper FMC Corporation April 22, 2024 5.755 % $ 2,487,815 $ 2,491,746 7.34 % 2,500,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 2,475,663 2,489,675 7.33 2,500,000 Glencore Funding LLC April 30, 2024 5.493 % 2,482,375 2,489,125 7.33 2,500,000 Glencore Funding LLC May 10, 2024 5.475 % 2,480,199 2,485,429 7.32 2,500,000 National Fuel Gas Company April 4, 2024 5.544 % 2,492,038 2,498,863 7.36 2,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 2,493,867 2,498,850 7.36 2,500,000 Total Commercial Paper $ 14,911,957 $ 14,953,688 44.04 % Total Cash Equivalents $ 27,181,854 80.04 % 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 JUL24 197 $ 308,999 0.91 % $ 11,871,713 CBOT soybean futures NOV24 172 478,846 1.41 10,201,750 CBOT soybean futures NOV25 204 7,131 0.02 11,860,050 Total commodity futures contracts $ 794,976 2.34 % $ 33,933,513 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 1,075,007 $ 1,075,007 3.70 % 1,075,007 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 6,671,092 6,671,092 22.96 6,671,092 Total money market funds $ 7,746,099 $ 7,746,099 26.66 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 8, 2024 5.738 % $ 2,476,151 $ 2,497,263 8.59 % 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 2,489,708 2,496,833 8.59 2,500,000 FMC Corporation January 19, 2024 5.816 % 2,488,878 2,492,850 8.58 2,500,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 2,480,400 2,487,600 8.56 2,500,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 2,479,021 2,491,688 8.58 2,500,000 WGL Holdings, Inc. January 12, 2024 5.849 % 2,487,222 2,495,608 8.59 2,500,000 Total Commercial Paper $ 14,901,380 $ 14,961,842 51.49 % Total Cash Equivalents $ 22,707,941 78.15 % 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 156 $ 617,118 2.12 % $ 10,124,400 CBOT soybean futures MAY24 133 633,749 2.18 8,693,213 CBOT soybean futures NOV24 164 140,794 0.48 10,215,150 Total commodity futures contracts $ 1,391,661 4.78 % $ 29,032,763 |
Note 1 - Organization and Ope_9
Note 1 - Organization and Operation - Teucrium Soybean Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 93,105 $ 120,560 Amount of Custody Services Waived $ 3,615 $ 7,329 Amount Recognized for Distribution Services $ 36,539 $ 38,765 Amount of Distribution Services Waived $ 1,527 $ 2,322 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 8,486 $ 3,441 Amount of Custody Services Waived $ - $ - Amount Recognized for Distribution Services $ 3,063 $ 3,266 Amount of Distribution Services Waived $ - $ - Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Note 3 - Summary of Signific_10
Note 3 - Summary of Significant Accounting Policies - Teucrium Soybean Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ 9,706 $ 4,158 $ 2,008 $ 15,580 $ - $ 192 $ 31,644 Three months ended March 31, 2023 $ 17,270 $ 6,340 $ 6,055 $ 21,746 $ - $ 609 $ 52,020 |
Schedule of Cash and Cash Equivalents [Table Text Block] | March 31, 2024 December 31, 2023 Money Market Funds $ 105,660,004 $ 120,047,840 Demand Deposit Savings Accounts 29,533,538 29,148,056 Commercial Paper 118,502,058 143,041,466 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 253,695,600 $ 292,237,362 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 614,406 $ 591,603 Waived Related Party Transactions $ 25,585 $ 23,865 |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | SOYB Three months ended March 31, 2024 $ 4,158 Three months ended March 31, 2023 $ 6,340 |
Schedule of Cash and Cash Equivalents [Table Text Block] | March 31, 2024 December 31, 2023 Money Market Funds $ 12,228,166 $ 7,746,099 Demand Deposit Savings Accounts 5,470,653 5,399,248 Commercial Paper 14,953,688 14,961,842 Total cash and cash equivalents as presented on the Statements of Assets and Liabilities $ 32,652,507 $ 28,107,189 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 51,460 $ 50,267 Waived Related Party Transactions $ - $ - |
Note 4 - Fair Value Measurem_10
Note 4 - Fair Value Measurements - Teucrium Soybean Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 Cash Equivalents $ 224,162,062 $ - $ - $ 224,162,062 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 225,829,780 $ - $ - $ 225,829,780 Liabilities Level 1 Level 2 Level 3 Balance as of March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Soybean futures contracts 794,976 - - 794,976 Sugar futures contracts 814,401 - - 814,401 Wheat futures contracts 12,809,942 - - 12,809,942 Total $ 18,352,042 $ - $ - $ 18,352,042 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents $ 263,089,306 $ - $ - $ 263,089,306 Commodity and Cryptocurrency Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Bitcoin futures contracts 129,519 - - 129,519 Total $ 265,456,318 $ - $ - $ 265,456,318 Liabilities Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 Soybean futures contracts 1,391,661 - - 1,391,661 Sugar futures contracts 2,687,998 - - 2,687,998 Wheat futures contracts 4,575,666 - - 4,575,666 Bitcoin futures contracts 51,376 - - 51,376 Total $ 10,888,842 $ - $ - $ 10,888,842 |
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 March 31, 2024 Cash Equivalents $ 27,181,854 $ - $ - $ 27,181,854 Balance as of Liabilities Level 1 Level 2 Level 3 March 31, 2024 Commodity Futures Contracts Soybean futures contracts $ 794,976 $ - $ - $ 794,976 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2023 Cash Equivalents $ 22,707,941 $ - $ - $ 22,707,941 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2023 Soybean futures contracts $ 1,391,661 $ - $ - $ 1,391,661 |
Note 5 - Derivative Instrumen_9
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Soybean Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 (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 $ 154,412 $ - $ 154,412 $ 154,412 $ - $ - Wheat futures contracts $ 1,513,306 $ - $ 1,513,306 $ 1,513,306 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 3,932,723 $ - $ 3,932,723 $ 154,412 $ 3,778,311 $ - Soybean futures contracts $ 794,976 $ - $ 794,976 $ - $ 794,976 $ - Sugar futures contracts $ 814,401 $ - $ 814,401 $ - $ 814,401 $ - Wheat futures contracts $ 12,809,942 $ - $ 12,809,942 $ 1,513,306 $ 11,296,636 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 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 Wheat futures contracts $ 2,237,493 $ - $ 2,237,493 $ 2,237,493 $ - $ - Bitcoin futures contracts $ 129,519 $ - $ 129,519 $ 51,376 $ - $ 78,143 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 2,182,141 $ - $ 2,182,141 $ - $ 2,182,141 $ - Soybean futures contracts $ 1,391,661 $ - $ 1,391,661 $ - $ 1,391,661 $ - Sugar futures contracts $ 2,687,998 $ - $ 2,687,998 $ - $ 2,687,998 $ - Wheat futures contracts $ 4,575,666 $ - $ 4,575,666 $ 2,237,493 $ 2,338,173 $ - Bitcoin futures contracts $ 51,376 $ - $ 51,376 $ 51,376 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (3,964,335 ) $ (1,596,170 ) Soybeans futures contracts (2,632,854 ) 596,685 Sugar futures contracts (482,314 ) 1,873,597 Wheat futures contracts (10,037,305 ) (8,958,463 ) Bitcoin futures Contracts (78,143 ) 114,383 Total commodity and cryptocurrency futures contracts $ (17,194,951 ) $ (7,969,968 ) Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (6,268,935 ) $ (3,299,360 ) Soybeans futures contracts 1,067,543 (3,699,642 ) Sugar futures contracts 1,339,448 3,139,817 Wheat futures contracts (23,358,733 ) (2,092,562 ) Bitcoin futures Contracts 629,551 128,468 Total commodity and cryptocurrency futures contracts $ (26,591,126 ) $ (5,823,279 ) |
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 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 $ 794,976 $ - $ 794,976 $ - $ 794,976 $ - (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 $ 1,391,661 $ - $ 1,391,661 $ - $ 1,391,661 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ (2,632,854 ) $ 596,685 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Soybean futures contracts $ 1,067,543 $ (3,699,642 ) |
Note 6 - Financial Highlights_7
Note 6 - Financial Highlights - Teucrium Soybean Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Teucrium Soybean Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Three months ended Three months ended March 31, 2024 March 31, 2023 Per Share Operation Performance Net asset value at beginning of period $ 27.03 $ 28.50 Income from investment operations: Interest income 0.34 0.31 Net realized and unrealized loss on commodity futures contracts (2.00 ) (1.47 ) Total expenses, net (0.21 ) (0.15 ) Net decrease in net asset value (1.87 ) (1.31 ) Net asset value at end of period $ 25.16 $ 27.19 Total Return -6.91 % -4.61 % Ratios to Average Net Assets (Annualized) Total expenses 3.28 % 2.18 % Total expenses, net 3.28 % 2.18 % Net investment income 2.10 % 2.28 % |
Schedule of Investments (Unau_9
Schedule of Investments (Unaudited) - Teucrium Sugar Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 5.240 % $ 22,987,077 $ 22,987,077 8.28 % 22,987,077 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 82,672,927 82,672,927 29.76 82,672,927 Total money market funds $ 105,660,004 $ 105,660,004 38.04 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 1.78 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 0.90 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 4,946,334 4,970,444 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 4,929,376 4,964,688 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 0.89 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 4,955,696 4,977,084 1.79 5,000,000 The Cigna Group April 5, 2024 5.501 % 2,970,300 2,998,200 1.08 3,000,000 Crown Castle Inc. April 18, 2024 5.530 % 9,945,600 9,974,312 3.59 10,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 1.79 5,000,000 FMC Corporation April 22, 2024 5.755 % 2,487,815 2,491,746 0.90 2,500,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 1.79 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 3,465,928 3,485,545 1.25 3,500,000 Glencore Funding LLC April 16, 2024 5.490 % 7,456,125 7,483,125 2.69 7,500,000 Glencore Funding LLC April 30, 2024 5.493 % 4,964,750 4,978,250 1.79 5,000,000 Glencore Funding LLC May 10, 2024 5.475 % 7,440,597 7,456,287 2.68 7,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 0.90 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 4,943,792 4,964,376 1.79 5,000,000 National Fuel Gas Company April 4, 2024 5.544 % 7,476,113 7,496,588 2.70 7,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 4,987,734 4,997,700 1.80 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 9,865,000 9,985,000 3.59 10,000,000 VW Credit, Inc. May 16, 2024 5.402 % 4,943,320 4,966,876 1.45 5,000,000 WGL Holdings, Inc. April 15, 2024 5.616 % 4,984,640 4,989,248 1.46 5,000,000 Total Commercial Paper $ 117,915,162 $ 118,502,058 41.97 % Total Cash Equivalents $ 224,162,062 80.01 % 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 SEP24 901 $ 154,412 0.06 % $ 20,925,725 United States wheat futures contracts CBOT wheat futures SEP24 1,599 1,513,306 0.54 47,290,425 Total commodity and cryptocurrency futures contracts $ 1,667,718 0.60 % $ 68,216,150 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 JUL24 1,072 $ 2,021,501 0.73 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 0.69 24,413,025 United States soybean futures contracts CBOT soybean futures JUL24 197 308,999 0.11 11,871,713 CBOT soybean futures NOV24 172 478,846 0.17 10,201,750 CBOT soybean futures NOV25 204 7,131 0.00 11,860,050 United States sugar futures contracts ICE sugar futures JUL24 234 594,646 0.21 5,805,072 ICE sugar futures OCT24 201 83,984 0.03 4,963,896 ICE sugar futures MAR25 233 135,771 0.05 5,769,826 United States wheat futures contracts CBOT wheat futures JUL24 1,915 3,610,065 1.30 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 3.31 55,080,000 Total commodity and cryptocurrency futures contracts $ 18,352,042 6.60 % $ 209,454,595 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,661,367 1.32 % 181,115 Teucrium Soybean Fund 3,574,703 1.29 142,076 Teucrium Sugar Fund 3,605,828 1.30 267,233 Teucrium Wheat Fund 3,673,518 1.32 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 5.23 % Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 39,325,186 $ 39,325,186 12.50 % 39,325,186 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 80,722,654 80,722,654 25.66 80,722,654 Total money market funds $ 120,047,840 $ 120,047,840 38.16 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 1.59 % 5,000,000 Albemarle Corporation January 4, 2024 5.753 % 4,960,764 4,997,646 1.59 5,000,000 Albemarle Corporation January 8, 2024 5.738 % 4,952,302 4,994,526 1.59 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 4,956,460 4,992,083 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 4,979,416 4,993,666 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 4,933,150 4,988,062 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 3,032,227 3,040,948 0.97 3,055,000 Entergy Corporation March 1, 2024 5.665 % 7,402,875 7,430,625 2.36 7,500,000 FMC Corporation January 19, 2024 5.816 % 7,466,634 7,478,550 2.38 7,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 2.38 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 1.58 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 2.37 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 4,949,066 4,993,634 1.59 5,000,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 7,441,200 7,462,800 2.37 7,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 7,421,323 7,446,741 2.37 7,500,000 National Fuel Gas Company January 8, 2024 5.867 % 4,960,800 4,994,400 1.59 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 0.79 2,500,000 Oracle Corporation March 6, 2024 5.562 % 4,934,904 4,950,799 1.57 5,000,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 7,437,063 7,475,063 2.38 7,500,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 1.59 5,000,000 V.F. Corporation January 18, 2024 5.606 % 4,947,292 4,987,014 1.59 5,000,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 1.57 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 4,981,792 4,998,416 1.59 5,000,000 WGL Holdings, Inc. January 12, 2024 5.849 % 7,461,666 7,486,824 2.38 7,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 7,950,009 7,985,529 2.54 8,000,000 Total Commercial Paper $ 142,223,286 $ 143,041,466 45.50 % Total Cash Equivalents $ 263,089,306 83.66 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.12 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 0.60 55,243,913 United States CME Bitcoin futures contracts CME Bitcoin futures JAN24 6 129,519 0.04 1,274,550 Total commodity and cryptocurrency futures contracts $ 2,367,012 0.76 % $ 121,044,013 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 MAY24 1,171 $ 1,102,254 0.35 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.12 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.22 28,397,400 United States soybean futures contracts CBOT soybean futures MAR24 156 617,118 0.20 10,124,400 CBOT soybean futures MAY24 133 633,749 0.20 8,693,213 CBOT soybean futures NOV24 164 140,794 0.04 10,215,150 United States sugar futures contracts ICE sugar futures MAY24 270 1,051,261 0.33 6,175,008 ICE sugar futures JUL24 233 1,128,473 0.36 5,326,193 ICE sugar futures MAR25 268 508,264 0.16 6,216,314 United States wheat futures contracts CBOT wheat futures DEC24 1,924 4,575,666 1.45 64,357,800 United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 0.02 1,288,500 Total commodity and cryptocurrency futures contracts $ 10,888,842 3.45 % $ 193,412,278 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 4,567,949 1.45 % 211,348 Teucrium Soybean Fund 4,546,758 1.45 168,219 Teucrium Sugar Fund 4,624,253 1.47 371,871 Teucrium Wheat Fund 4,662,940 1.48 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 5.85 % |
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 5.240 % $ 1,342,798 $ 1,342,798 8.12 % 1,342,798 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 2,708,188 2,708,188 16.38 2,708,188 Total Money Market Funds $ 4,050,986 $ 4,050,986 24.50 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper The Cigna Group April 5, 2024 5.501 % $ 495,050 $ 499,700 3.02 % 500,000 Campbell Soup Company May 1, 2024 5.601 % 2,477,848 2,488,542 15.06 2,500,000 Glencore Funding LLC April 16, 2024 5.490 % 2,485,375 2,494,375 15.09 2,500,000 Glencore Funding LLC May 10, 2024 5.475 % 2,480,199 2,485,429 15.04 2,500,000 Total Commercial Paper $ 7,938,472 $ 7,968,046 48.21 % Total Cash Equivalents $ 12,019,032 72.71 % 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 234 $ 594,646 3.60 % $ 5,805,072 ICE sugar futures OCT24 201 83,984 0.51 4,963,896 ICE sugar futures MAR25 233 135,771 0.82 5,769,826 Total commodity futures contracts $ 814,401 4.93 % $ 16,538,794 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 1,532,232 $ 1,532,232 8.65 % 1,532,232 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 1,501,006 1,501,006 8.47 1,501,006 Total Money Market Funds $ 3,033,238 $ 3,033,238 17.12 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 4, 2024 5.753 % $ 2,480,382 $ 2,498,823 14.10 % 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 550,863 552,447 3.12 555,000 Entergy Corporation March 1, 2024 5.665 % 2,467,625 2,476,875 13.98 2,500,000 FMC Corporation January 19, 2024 5.816 % 2,488,878 2,492,850 14.07 2,500,000 National Fuel Gas Company January 8, 2024 5.867 % 2,480,400 2,497,200 14.09 2,500,000 Total Commercial Paper $ 10,468,148 $ 10,518,195 59.36 % Total Cash Equivalents $ 13,551,433 76.47 % 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 MAY24 270 $ 1,051,261 5.93 % $ 6,175,008 ICE sugar futures JUL24 233 1,128,473 6.37 5,326,193 ICE sugar futures MAR25 268 508,264 2.87 6,216,314 Total commodity futures contracts $ 2,687,998 15.17 % $ 17,717,515 |
Note 1 - Organization and Op_10
Note 1 - Organization and Operation - Teucrium Sugar Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 93,105 $ 120,560 Amount of Custody Services Waived $ 3,615 $ 7,329 Amount Recognized for Distribution Services $ 36,539 $ 38,765 Amount of Distribution Services Waived $ 1,527 $ 2,322 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Teucrium Sugar Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 8,512 $ 1,036 Amount of Custody Services Waived $ - $ - Amount Recognized for Distribution Services $ 3,491 $ 1,548 Amount of Distribution Services Waived $ - $ - Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Note 3 - Summary of Signific_11
Note 3 - Summary of Significant Accounting Policies - Teucrium Sugar Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ 9,706 $ 4,158 $ 2,008 $ 15,580 $ - $ 192 $ 31,644 Three months ended March 31, 2023 $ 17,270 $ 6,340 $ 6,055 $ 21,746 $ - $ 609 $ 52,020 |
Schedule of Cash and Cash Equivalents [Table Text Block] | March 31, 2024 December 31, 2023 Money Market Funds $ 105,660,004 $ 120,047,840 Demand Deposit Savings Accounts 29,533,538 29,148,056 Commercial Paper 118,502,058 143,041,466 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 253,695,600 $ 292,237,362 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 614,406 $ 591,603 Waived Related Party Transactions $ 25,585 $ 23,865 |
Teucrium Sugar Fund [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CANE Three months ended March 31, 2024 $ 2,008 Three months ended March 31, 2023 $ 6,055 |
Schedule of Cash and Cash Equivalents [Table Text Block] | March 31, 2024 December 31, 2023 Money Market Funds $ 4,050,986 $ 3,033,238 Demand Deposit Savings Accounts 3,264,927 3,222,312 Commercial Paper 7,968,046 10,518,195 Total cash and cash equivalents as presented on the Statements of Assets and Liabilities $ 15,283,959 $ 16,773,745 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 58,527 $ 23,761 Waived Related Party Transactions $ - $ - |
Note 4 - Fair Value Measurem_11
Note 4 - Fair Value Measurements - Teucrium Sugar Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 Cash Equivalents $ 224,162,062 $ - $ - $ 224,162,062 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 225,829,780 $ - $ - $ 225,829,780 Liabilities Level 1 Level 2 Level 3 Balance as of March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Soybean futures contracts 794,976 - - 794,976 Sugar futures contracts 814,401 - - 814,401 Wheat futures contracts 12,809,942 - - 12,809,942 Total $ 18,352,042 $ - $ - $ 18,352,042 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents $ 263,089,306 $ - $ - $ 263,089,306 Commodity and Cryptocurrency Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Bitcoin futures contracts 129,519 - - 129,519 Total $ 265,456,318 $ - $ - $ 265,456,318 Liabilities Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 Soybean futures contracts 1,391,661 - - 1,391,661 Sugar futures contracts 2,687,998 - - 2,687,998 Wheat futures contracts 4,575,666 - - 4,575,666 Bitcoin futures contracts 51,376 - - 51,376 Total $ 10,888,842 $ - $ - $ 10,888,842 |
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 March 31, 2024 Cash Equivalents $ 12,019,032 $ - $ - $ 12,019,032 Balance as of Liabilities Level 1 Level 2 Level 3 March 31, 2024 Commodity Futures Contracts Sugar futures contracts $ 814,401 $ - $ - $ 814,401 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2023 Cash Equivalents $ 13,551,433 $ - $ - $ 13,551,433 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2023 Sugar futures contracts $ 2,687,998 $ - $ - $ 2,687,998 |
Note 5 - Derivative Instrume_10
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Sugar Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 (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 $ 154,412 $ - $ 154,412 $ 154,412 $ - $ - Wheat futures contracts $ 1,513,306 $ - $ 1,513,306 $ 1,513,306 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 3,932,723 $ - $ 3,932,723 $ 154,412 $ 3,778,311 $ - Soybean futures contracts $ 794,976 $ - $ 794,976 $ - $ 794,976 $ - Sugar futures contracts $ 814,401 $ - $ 814,401 $ - $ 814,401 $ - Wheat futures contracts $ 12,809,942 $ - $ 12,809,942 $ 1,513,306 $ 11,296,636 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 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 Wheat futures contracts $ 2,237,493 $ - $ 2,237,493 $ 2,237,493 $ - $ - Bitcoin futures contracts $ 129,519 $ - $ 129,519 $ 51,376 $ - $ 78,143 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 2,182,141 $ - $ 2,182,141 $ - $ 2,182,141 $ - Soybean futures contracts $ 1,391,661 $ - $ 1,391,661 $ - $ 1,391,661 $ - Sugar futures contracts $ 2,687,998 $ - $ 2,687,998 $ - $ 2,687,998 $ - Wheat futures contracts $ 4,575,666 $ - $ 4,575,666 $ 2,237,493 $ 2,338,173 $ - Bitcoin futures contracts $ 51,376 $ - $ 51,376 $ 51,376 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (3,964,335 ) $ (1,596,170 ) Soybeans futures contracts (2,632,854 ) 596,685 Sugar futures contracts (482,314 ) 1,873,597 Wheat futures contracts (10,037,305 ) (8,958,463 ) Bitcoin futures Contracts (78,143 ) 114,383 Total commodity and cryptocurrency futures contracts $ (17,194,951 ) $ (7,969,968 ) Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (6,268,935 ) $ (3,299,360 ) Soybeans futures contracts 1,067,543 (3,699,642 ) Sugar futures contracts 1,339,448 3,139,817 Wheat futures contracts (23,358,733 ) (2,092,562 ) Bitcoin futures Contracts 629,551 128,468 Total commodity and cryptocurrency futures contracts $ (26,591,126 ) $ (5,823,279 ) |
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 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 $ 814,401 $ - $ 814,401 $ - $ 814,401 $ - (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 $ 2,687,998 $ - $ 2,687,998 $ 2,687,998 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ (482,314 ) $ 1,873,597 Realized Gain on Commodity Futures Contracts Net Change in Unrealized Appreciation on Commodity Futures Contracts Commodity Price Sugar futures contracts $ 1,339,448 $ 3,139,817 |
Note 6 - Financial Highlights_8
Note 6 - Financial Highlights - Teucrium Sugar Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Teucrium Sugar Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Three months ended Three months ended March 31, 2024 March 31, 2023 Per Share Operation Performance Net asset value at beginning of period $ 12.44 $ 9.51 Income (loss) from investment operations: Interest income 0.17 0.11 Net realized and unrealized gain on commodity futures contracts 1.01 1.89 Total expenses, net (0.13 ) (0.07 ) Net increase in net asset value 1.05 1.93 Net asset value at end of period $ 13.49 $ 11.44 Total Return 8.51 % 20.28 % Ratios to Average Net Assets (Annualized) Total expenses 4.04 % 2.78 % Total expenses, net 4.04 % 2.78 % Net investment income 1.24 % 1.65 % |
Schedule of Investments (Una_10
Schedule of Investments (Unaudited) - Teucrium Wheat Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 5.240 % $ 22,987,077 $ 22,987,077 8.28 % 22,987,077 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 82,672,927 82,672,927 29.76 82,672,927 Total money market funds $ 105,660,004 $ 105,660,004 38.04 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 1.78 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 0.90 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 4,946,334 4,970,444 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 4,929,376 4,964,688 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 0.89 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 4,955,696 4,977,084 1.79 5,000,000 The Cigna Group April 5, 2024 5.501 % 2,970,300 2,998,200 1.08 3,000,000 Crown Castle Inc. April 18, 2024 5.530 % 9,945,600 9,974,312 3.59 10,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 1.79 5,000,000 FMC Corporation April 22, 2024 5.755 % 2,487,815 2,491,746 0.90 2,500,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 1.79 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 3,465,928 3,485,545 1.25 3,500,000 Glencore Funding LLC April 16, 2024 5.490 % 7,456,125 7,483,125 2.69 7,500,000 Glencore Funding LLC April 30, 2024 5.493 % 4,964,750 4,978,250 1.79 5,000,000 Glencore Funding LLC May 10, 2024 5.475 % 7,440,597 7,456,287 2.68 7,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 0.90 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 4,943,792 4,964,376 1.79 5,000,000 National Fuel Gas Company April 4, 2024 5.544 % 7,476,113 7,496,588 2.70 7,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 4,987,734 4,997,700 1.80 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 9,865,000 9,985,000 3.59 10,000,000 VW Credit, Inc. May 16, 2024 5.402 % 4,943,320 4,966,876 1.45 5,000,000 WGL Holdings, Inc. April 15, 2024 5.616 % 4,984,640 4,989,248 1.46 5,000,000 Total Commercial Paper $ 117,915,162 $ 118,502,058 41.97 % Total Cash Equivalents $ 224,162,062 80.01 % 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 SEP24 901 $ 154,412 0.06 % $ 20,925,725 United States wheat futures contracts CBOT wheat futures SEP24 1,599 1,513,306 0.54 47,290,425 Total commodity and cryptocurrency futures contracts $ 1,667,718 0.60 % $ 68,216,150 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 JUL24 1,072 $ 2,021,501 0.73 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 0.69 24,413,025 United States soybean futures contracts CBOT soybean futures JUL24 197 308,999 0.11 11,871,713 CBOT soybean futures NOV24 172 478,846 0.17 10,201,750 CBOT soybean futures NOV25 204 7,131 0.00 11,860,050 United States sugar futures contracts ICE sugar futures JUL24 234 594,646 0.21 5,805,072 ICE sugar futures OCT24 201 83,984 0.03 4,963,896 ICE sugar futures MAR25 233 135,771 0.05 5,769,826 United States wheat futures contracts CBOT wheat futures JUL24 1,915 3,610,065 1.30 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 3.31 55,080,000 Total commodity and cryptocurrency futures contracts $ 18,352,042 6.60 % $ 209,454,595 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,661,367 1.32 % 181,115 Teucrium Soybean Fund 3,574,703 1.29 142,076 Teucrium Sugar Fund 3,605,828 1.30 267,233 Teucrium Wheat Fund 3,673,518 1.32 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 5.23 % Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 39,325,186 $ 39,325,186 12.50 % 39,325,186 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 80,722,654 80,722,654 25.66 80,722,654 Total money market funds $ 120,047,840 $ 120,047,840 38.16 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 1.59 % 5,000,000 Albemarle Corporation January 4, 2024 5.753 % 4,960,764 4,997,646 1.59 5,000,000 Albemarle Corporation January 8, 2024 5.738 % 4,952,302 4,994,526 1.59 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 4,956,460 4,992,083 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 4,979,416 4,993,666 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 4,933,150 4,988,062 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 3,032,227 3,040,948 0.97 3,055,000 Entergy Corporation March 1, 2024 5.665 % 7,402,875 7,430,625 2.36 7,500,000 FMC Corporation January 19, 2024 5.816 % 7,466,634 7,478,550 2.38 7,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 2.38 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 1.58 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 2.37 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 4,949,066 4,993,634 1.59 5,000,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 7,441,200 7,462,800 2.37 7,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 7,421,323 7,446,741 2.37 7,500,000 National Fuel Gas Company January 8, 2024 5.867 % 4,960,800 4,994,400 1.59 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 0.79 2,500,000 Oracle Corporation March 6, 2024 5.562 % 4,934,904 4,950,799 1.57 5,000,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 7,437,063 7,475,063 2.38 7,500,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 1.59 5,000,000 V.F. Corporation January 18, 2024 5.606 % 4,947,292 4,987,014 1.59 5,000,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 1.57 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 4,981,792 4,998,416 1.59 5,000,000 WGL Holdings, Inc. January 12, 2024 5.849 % 7,461,666 7,486,824 2.38 7,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 7,950,009 7,985,529 2.54 8,000,000 Total Commercial Paper $ 142,223,286 $ 143,041,466 45.50 % Total Cash Equivalents $ 263,089,306 83.66 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.12 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 0.60 55,243,913 United States CME Bitcoin futures contracts CME Bitcoin futures JAN24 6 129,519 0.04 1,274,550 Total commodity and cryptocurrency futures contracts $ 2,367,012 0.76 % $ 121,044,013 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 MAY24 1,171 $ 1,102,254 0.35 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.12 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.22 28,397,400 United States soybean futures contracts CBOT soybean futures MAR24 156 617,118 0.20 10,124,400 CBOT soybean futures MAY24 133 633,749 0.20 8,693,213 CBOT soybean futures NOV24 164 140,794 0.04 10,215,150 United States sugar futures contracts ICE sugar futures MAY24 270 1,051,261 0.33 6,175,008 ICE sugar futures JUL24 233 1,128,473 0.36 5,326,193 ICE sugar futures MAR25 268 508,264 0.16 6,216,314 United States wheat futures contracts CBOT wheat futures DEC24 1,924 4,575,666 1.45 64,357,800 United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 0.02 1,288,500 Total commodity and cryptocurrency futures contracts $ 10,888,842 3.45 % $ 193,412,278 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 4,567,949 1.45 % 211,348 Teucrium Soybean Fund 4,546,758 1.45 168,219 Teucrium Sugar Fund 4,624,253 1.47 371,871 Teucrium Wheat Fund 4,662,940 1.48 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 5.85 % |
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 5.240 % $ 10,758,845 $ 10,758,845 6.83 % 10,758,845 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 57,722,055 57,722,055 36.64 57,722,055 Total money market funds $ 68,480,900 $ 68,480,900 43.47 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 3.14 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 1.58 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 1.58 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 2,473,167 2,485,222 1.58 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 2,464,688 2,482,344 1.58 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 1.57 2,500,000 The Cigna Group April 5, 2024 5.501 % 2,475,250 2,498,500 1.59 2,500,000 Crown Castle Inc. April 18, 2024 5.530 % 4,972,800 4,987,156 3.17 5,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 3.15 5,000,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 3.16 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 990,265 995,870 0.63 1,000,000 Glencore Funding LLC April 16, 2024 5.490 % 2,485,375 2,494,375 1.58 2,500,000 Glencore Funding LLC April 30, 2024 5.493 % 2,482,375 2,489,125 1.58 2,500,000 Glencore Funding LLC May 10, 2024 5.475 % 2,480,199 2,485,429 1.58 2,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 1.58 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 2,471,896 2,482,188 1.58 2,500,000 National Fuel Gas Company April 4, 2024 5.544 % 4,984,075 4,997,725 3.17 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 4,932,500 4,992,500 3.17 5,000,000 VW Credit, Inc. May 16, 2024 5.402 % 2,471,660 2,483,438 1.58 2,500,000 WGL Holdings, Inc. April 15, 2024 5.616 % 2,492,320 2,494,624 1.58 2,500,000 Total Commercial Paper $ 62,863,987 $ 63,207,987 40.13 % Total Cash Equivalents $ 131,688,887 83.60 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States wheat futures contracts CBOT wheat futures SEP24 1,599 $ 1,513,306 0.96 % $ 47,290,425 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 JUL24 1,915 $ 3,610,065 2.29 % $ 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 5.84 55,080,000 Total commodity futures contracts $ 12,809,942 8.13 % $ 110,208,063 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 27,315,653 $ 27,315,653 14.83 % 27,315,653 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 53,500,438 53,500,438 29.05 53,500,438 Total money market funds $ 80,816,091 $ 80,816,091 43.88 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 4, 2024 5.753 % $ 2,480,382 $ 2,498,823 1.36 % 2,500,000 Albemarle Corporation January 8, 2024 5.738 % 2,476,151 2,497,263 1.36 2,500,000 Albemarle Corporation January 11, 2024 5.808 % 2,478,230 2,496,041 1.36 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 2,466,575 2,494,031 1.35 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 2,481,364 2,488,501 1.35 2,500,000 Entergy Corporation March 1, 2024 5.665 % 2,467,625 2,476,875 1.34 2,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 4.06 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 2.71 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 4.05 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 2,474,533 2,496,817 1.36 2,500,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 2,480,400 2,487,600 1.35 2,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 4,947,549 4,964,494 2.70 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 1.35 2,500,000 Oracle Corporation March 6, 2024 5.562 % 2,467,452 2,475,399 1.34 2,500,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 4,958,042 4,983,375 2.71 5,000,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 2.71 5,000,000 V.F. Corporation January 18, 2024 5.606 % 2,473,646 2,493,507 1.35 2,500,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 2.69 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 2,490,896 2,499,208 1.36 2,500,000 WGL Holdings, Inc. January 12, 2024 5.849 % 2,487,222 2,495,608 1.36 2,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 5,465,631 5,490,051 2.98 5,500,000 Total Commercial Paper $ 77,199,566 $ 77,683,305 42.20 % Total Cash Equivalents $ 158,499,396 86.08 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.20 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 1.02 55,243,913 Total commodity futures contracts $ 2,237,493 1.22 % $ 119,769,463 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 DEC24 1,924 $ 4,575,666 2.48 % $ 64,357,800 |
Note 1 - Organization and Op_11
Note 1 - Organization and Operation - Teucrium Wheat Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 93,105 $ 120,560 Amount of Custody Services Waived $ 3,615 $ 7,329 Amount Recognized for Distribution Services $ 36,539 $ 38,765 Amount of Distribution Services Waived $ 1,527 $ 2,322 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Teucrium Wheat Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 50,520 $ 75,710 Amount of Custody Services Waived $ - $ - Amount Recognized for Distribution Services $ 20,330 $ 21,576 Amount of Distribution Services Waived $ - $ - Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Note 3 - Summary of Signific_12
Note 3 - Summary of Significant Accounting Policies - Teucrium Wheat Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ 9,706 $ 4,158 $ 2,008 $ 15,580 $ - $ 192 $ 31,644 Three months ended March 31, 2023 $ 17,270 $ 6,340 $ 6,055 $ 21,746 $ - $ 609 $ 52,020 |
Schedule of Cash and Cash Equivalents [Table Text Block] | March 31, 2024 December 31, 2023 Money Market Funds $ 105,660,004 $ 120,047,840 Demand Deposit Savings Accounts 29,533,538 29,148,056 Commercial Paper 118,502,058 143,041,466 Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities $ 253,695,600 $ 292,237,362 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 614,406 $ 591,603 Waived Related Party Transactions $ 25,585 $ 23,865 |
Teucrium Wheat Fund [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | WEAT Three months ended March 31, 2024 $ 15,580 Three months ended March 31, 2023 $ 21,746 |
Schedule of Cash and Cash Equivalents [Table Text Block] | March 31, 2024 December 31, 2023 Money Market Funds $ 68,480,900 $ 80,816,091 Demand Deposit Savings Accounts 10,368,017 10,232,690 Commercial Paper 63,207,987 77,683,305 Total cash and cash equivalents as presented on the Statements of Assets and Liabilities $ 142,056,904 $ 168,732,086 |
Schedule of Related Party Transactions [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 342,309 $ 328,187 Waived Related Party Transactions $ - $ - |
Note 4 - Fair Value Measurem_12
Note 4 - Fair Value Measurements - Teucrium Wheat Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 Cash Equivalents $ 224,162,062 $ - $ - $ 224,162,062 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 225,829,780 $ - $ - $ 225,829,780 Liabilities Level 1 Level 2 Level 3 Balance as of March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Soybean futures contracts 794,976 - - 794,976 Sugar futures contracts 814,401 - - 814,401 Wheat futures contracts 12,809,942 - - 12,809,942 Total $ 18,352,042 $ - $ - $ 18,352,042 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents $ 263,089,306 $ - $ - $ 263,089,306 Commodity and Cryptocurrency Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Bitcoin futures contracts 129,519 - - 129,519 Total $ 265,456,318 $ - $ - $ 265,456,318 Liabilities Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 Soybean futures contracts 1,391,661 - - 1,391,661 Sugar futures contracts 2,687,998 - - 2,687,998 Wheat futures contracts 4,575,666 - - 4,575,666 Bitcoin futures contracts 51,376 - - 51,376 Total $ 10,888,842 $ - $ - $ 10,888,842 |
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 March 31, 2024 Cash Equivalents $ 131,688,887 $ - $ - $ 131,688,887 Commodity Futures Contracts Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 133,202,193 $ - $ - $ 133,202,193 Balance as of Liabilities Level 1 Level 2 Level 3 March 31, 2024 Commodity Futures Contracts Wheat futures contracts $ 12,809,942 $ - $ - $ 12,809,942 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2023 Cash Equivalents $ 158,499,396 $ - $ - $ 158,499,396 Commodity Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Total $ 160,736,889 $ - $ - $ 160,736,889 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2023 Wheat futures contracts $ 4,575,666 $ - $ - $ 4,575,666 |
Note 5 - Derivative Instrume_11
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Wheat Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 (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 $ 154,412 $ - $ 154,412 $ 154,412 $ - $ - Wheat futures contracts $ 1,513,306 $ - $ 1,513,306 $ 1,513,306 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 3,932,723 $ - $ 3,932,723 $ 154,412 $ 3,778,311 $ - Soybean futures contracts $ 794,976 $ - $ 794,976 $ - $ 794,976 $ - Sugar futures contracts $ 814,401 $ - $ 814,401 $ - $ 814,401 $ - Wheat futures contracts $ 12,809,942 $ - $ 12,809,942 $ 1,513,306 $ 11,296,636 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 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 Wheat futures contracts $ 2,237,493 $ - $ 2,237,493 $ 2,237,493 $ - $ - Bitcoin futures contracts $ 129,519 $ - $ 129,519 $ 51,376 $ - $ 78,143 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 2,182,141 $ - $ 2,182,141 $ - $ 2,182,141 $ - Soybean futures contracts $ 1,391,661 $ - $ 1,391,661 $ - $ 1,391,661 $ - Sugar futures contracts $ 2,687,998 $ - $ 2,687,998 $ - $ 2,687,998 $ - Wheat futures contracts $ 4,575,666 $ - $ 4,575,666 $ 2,237,493 $ 2,338,173 $ - Bitcoin futures contracts $ 51,376 $ - $ 51,376 $ 51,376 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (3,964,335 ) $ (1,596,170 ) Soybeans futures contracts (2,632,854 ) 596,685 Sugar futures contracts (482,314 ) 1,873,597 Wheat futures contracts (10,037,305 ) (8,958,463 ) Bitcoin futures Contracts (78,143 ) 114,383 Total commodity and cryptocurrency futures contracts $ (17,194,951 ) $ (7,969,968 ) Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (6,268,935 ) $ (3,299,360 ) Soybeans futures contracts 1,067,543 (3,699,642 ) Sugar futures contracts 1,339,448 3,139,817 Wheat futures contracts (23,358,733 ) (2,092,562 ) Bitcoin futures Contracts 629,551 128,468 Total commodity and cryptocurrency futures contracts $ (26,591,126 ) $ (5,823,279 ) |
Teucrium Wheat Fund [Member] | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | (i) (ii) (iii) = (i)-(ii) (iv) (v)=(iii)-(iv) Gross Amount Not Offset in the Statement of Assets and Liabilities Description Gross Amount of Recognized Assets Gross Amount Offset in the Statement of Assets and Liabilities Net Amount Presented in the Statement of Assets and Liabilities Futures Contracts Available for Offset Collateral, Due to Broker Net Amount Commodity Price Wheat futures contracts $ 1,513,306 $ - $ 1,513,306 $ 1,513,306 $ - $ - (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 $ 12,809,942 $ - $ 12,809,942 $ 1,513,306 $ 11,296,636 $ - (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 $ 2,237,493 $ - $ 2,237,493 $ 2,237,493 $ - $ - (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 $ 4,575,666 $ - $ 4,575,666 $ 2,237,493 $ 2,338,173 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ (10,037,305 ) $ (8,958,463 ) Realized Loss on Commodity Futures Contracts Net Change in Unrealized Depreciation on Commodity Futures Contracts Commodity Price Wheat futures contracts $ (23,358,733 ) $ (2,092,562 ) |
Note 6 - Financial Highlights_9
Note 6 - Financial Highlights - Teucrium Wheat Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Teucrium Wheat Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Three months ended Three months ended March 31, 2024 March 31, 2023 Per Share Operation Performance Net asset value at beginning of period $ 5.98 $ 7.99 Income (loss) from investment operations: Interest income 0.07 0.08 Net realized and unrealized loss on commodity futures contracts (0.62 ) (0.96 ) Total expenses, net (0.04 ) (0.05 ) Net decrease in net asset value (0.59 ) (0.93 ) Net asset value at end of period $ 5.39 $ 7.06 Total Return -9.93 % -11.55 % Ratios to Average Net Assets (Annualized) Total expenses 2.80 % 2.58 % Total expenses, net 2.80 % 2.58 % Net investment income 2.45 % 1.76 % |
Schedule of Investments (Una_11
Schedule of Investments (Unaudited) - Teucrium Agricultural Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 5.240 % $ 22,987,077 $ 22,987,077 8.28 % 22,987,077 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 82,672,927 82,672,927 29.76 82,672,927 Total money market funds $ 105,660,004 $ 105,660,004 38.04 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 1.78 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 0.90 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 4,946,334 4,970,444 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 4,929,376 4,964,688 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 0.89 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 4,955,696 4,977,084 1.79 5,000,000 The Cigna Group April 5, 2024 5.501 % 2,970,300 2,998,200 1.08 3,000,000 Crown Castle Inc. April 18, 2024 5.530 % 9,945,600 9,974,312 3.59 10,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 1.79 5,000,000 FMC Corporation April 22, 2024 5.755 % 2,487,815 2,491,746 0.90 2,500,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 1.79 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 3,465,928 3,485,545 1.25 3,500,000 Glencore Funding LLC April 16, 2024 5.490 % 7,456,125 7,483,125 2.69 7,500,000 Glencore Funding LLC April 30, 2024 5.493 % 4,964,750 4,978,250 1.79 5,000,000 Glencore Funding LLC May 10, 2024 5.475 % 7,440,597 7,456,287 2.68 7,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 0.90 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 4,943,792 4,964,376 1.79 5,000,000 National Fuel Gas Company April 4, 2024 5.544 % 7,476,113 7,496,588 2.70 7,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 4,987,734 4,997,700 1.80 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 9,865,000 9,985,000 3.59 10,000,000 VW Credit, Inc. May 16, 2024 5.402 % 4,943,320 4,966,876 1.45 5,000,000 WGL Holdings, Inc. April 15, 2024 5.616 % 4,984,640 4,989,248 1.46 5,000,000 Total Commercial Paper $ 117,915,162 $ 118,502,058 41.97 % Total Cash Equivalents $ 224,162,062 80.01 % 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 SEP24 901 $ 154,412 0.06 % $ 20,925,725 United States wheat futures contracts CBOT wheat futures SEP24 1,599 1,513,306 0.54 47,290,425 Total commodity and cryptocurrency futures contracts $ 1,667,718 0.60 % $ 68,216,150 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 JUL24 1,072 $ 2,021,501 0.73 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 0.69 24,413,025 United States soybean futures contracts CBOT soybean futures JUL24 197 308,999 0.11 11,871,713 CBOT soybean futures NOV24 172 478,846 0.17 10,201,750 CBOT soybean futures NOV25 204 7,131 0.00 11,860,050 United States sugar futures contracts ICE sugar futures JUL24 234 594,646 0.21 5,805,072 ICE sugar futures OCT24 201 83,984 0.03 4,963,896 ICE sugar futures MAR25 233 135,771 0.05 5,769,826 United States wheat futures contracts CBOT wheat futures JUL24 1,915 3,610,065 1.30 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 3.31 55,080,000 Total commodity and cryptocurrency futures contracts $ 18,352,042 6.60 % $ 209,454,595 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,661,367 1.32 % 181,115 Teucrium Soybean Fund 3,574,703 1.29 142,076 Teucrium Sugar Fund 3,605,828 1.30 267,233 Teucrium Wheat Fund 3,673,518 1.32 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 5.23 % Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 39,325,186 $ 39,325,186 12.50 % 39,325,186 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 80,722,654 80,722,654 25.66 80,722,654 Total money market funds $ 120,047,840 $ 120,047,840 38.16 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 1.59 % 5,000,000 Albemarle Corporation January 4, 2024 5.753 % 4,960,764 4,997,646 1.59 5,000,000 Albemarle Corporation January 8, 2024 5.738 % 4,952,302 4,994,526 1.59 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 4,956,460 4,992,083 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 4,979,416 4,993,666 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 4,933,150 4,988,062 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 3,032,227 3,040,948 0.97 3,055,000 Entergy Corporation March 1, 2024 5.665 % 7,402,875 7,430,625 2.36 7,500,000 FMC Corporation January 19, 2024 5.816 % 7,466,634 7,478,550 2.38 7,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 2.38 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 1.58 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 2.37 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 4,949,066 4,993,634 1.59 5,000,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 7,441,200 7,462,800 2.37 7,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 7,421,323 7,446,741 2.37 7,500,000 National Fuel Gas Company January 8, 2024 5.867 % 4,960,800 4,994,400 1.59 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 0.79 2,500,000 Oracle Corporation March 6, 2024 5.562 % 4,934,904 4,950,799 1.57 5,000,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 7,437,063 7,475,063 2.38 7,500,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 1.59 5,000,000 V.F. Corporation January 18, 2024 5.606 % 4,947,292 4,987,014 1.59 5,000,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 1.57 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 4,981,792 4,998,416 1.59 5,000,000 WGL Holdings, Inc. January 12, 2024 5.849 % 7,461,666 7,486,824 2.38 7,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 7,950,009 7,985,529 2.54 8,000,000 Total Commercial Paper $ 142,223,286 $ 143,041,466 45.50 % Total Cash Equivalents $ 263,089,306 83.66 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.12 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 0.60 55,243,913 United States CME Bitcoin futures contracts CME Bitcoin futures JAN24 6 129,519 0.04 1,274,550 Total commodity and cryptocurrency futures contracts $ 2,367,012 0.76 % $ 121,044,013 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 MAY24 1,171 $ 1,102,254 0.35 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.12 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.22 28,397,400 United States soybean futures contracts CBOT soybean futures MAR24 156 617,118 0.20 10,124,400 CBOT soybean futures MAY24 133 633,749 0.20 8,693,213 CBOT soybean futures NOV24 164 140,794 0.04 10,215,150 United States sugar futures contracts ICE sugar futures MAY24 270 1,051,261 0.33 6,175,008 ICE sugar futures JUL24 233 1,128,473 0.36 5,326,193 ICE sugar futures MAR25 268 508,264 0.16 6,216,314 United States wheat futures contracts CBOT wheat futures DEC24 1,924 4,575,666 1.45 64,357,800 United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 0.02 1,288,500 Total commodity and cryptocurrency futures contracts $ 10,888,842 3.45 % $ 193,412,278 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 4,567,949 1.45 % 211,348 Teucrium Soybean Fund 4,546,758 1.45 168,219 Teucrium Sugar Fund 4,624,253 1.47 371,871 Teucrium Wheat Fund 4,662,940 1.48 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 5.85 % |
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 $ 3,661,367 25.20 % 181,115 Teucrium Soybean Fund 3,574,703 24.61 142,076 Teucrium Sugar Fund 3,605,828 24.82 267,233 Teucrium Wheat Fund 3,673,518 25.29 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 99.92 % Cash equivalents Money market funds U.S. Bank Deposit Account 5.210 % $ 9,701 $ 9,701 0.07 % 9,701 Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Exchange-traded funds Teucrium Corn Fund $ 4,567,949 24.81 % 211,348 Teucrium Soybean Fund 4,546,758 24.70 168,219 Teucrium Sugar Fund 4,624,253 25.12 371,871 Teucrium Wheat Fund 4,662,940 25.33 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 99.96 % Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 11,208 $ 11,208 0.06 % 11,208 |
Note 1 - Organization and Op_12
Note 1 - Organization and Operation - Teucrium Agricultural Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 93,105 $ 120,560 Amount of Custody Services Waived $ 3,615 $ 7,329 Amount Recognized for Distribution Services $ 36,539 $ 38,765 Amount of Distribution Services Waived $ 1,527 $ 2,322 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Teucrium Agricultural Fund [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 3,615 $ 7,070 Amount of Custody Services Waived $ 3,615 $ 7,070 Amount Recognized for Distribution Services $ 1,527 $ 2,262 Amount of Distribution Services Waived $ 1,527 $ 2,262 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Note 3 - Summary of Signific_13
Note 3 - Summary of Significant Accounting Policies - Teucrium Agricultural Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 614,406 $ 591,603 Waived Related Party Transactions $ 25,585 $ 23,865 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ - $ - $ - $ - $ 69,538 $ 62,309 $ 131,847 Three months ended March 31, 2023 $ - $ - $ - $ - $ 125,494 $ 70,570 $ 196,064 |
Teucrium Agricultural Fund [Member] | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Recognized Related Party Transactions $ 25,585 $ 34,473 Waived Related Party Transactions $ 25,585 $ 23,865 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | TAGS Three months ended March 31, 2024 $ 69,538 Three months ended March 31, 2023 $ 125,494 |
Note 4 - Fair Value Measurem_13
Note 4 - Fair Value Measurements - Teucrium Agricultural Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 Cash Equivalents $ 224,162,062 $ - $ - $ 224,162,062 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 225,829,780 $ - $ - $ 225,829,780 Liabilities Level 1 Level 2 Level 3 Balance as of March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Soybean futures contracts 794,976 - - 794,976 Sugar futures contracts 814,401 - - 814,401 Wheat futures contracts 12,809,942 - - 12,809,942 Total $ 18,352,042 $ - $ - $ 18,352,042 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents $ 263,089,306 $ - $ - $ 263,089,306 Commodity and Cryptocurrency Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Bitcoin futures contracts 129,519 - - 129,519 Total $ 265,456,318 $ - $ - $ 265,456,318 Liabilities Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 Soybean futures contracts 1,391,661 - - 1,391,661 Sugar futures contracts 2,687,998 - - 2,687,998 Wheat futures contracts 4,575,666 - - 4,575,666 Bitcoin futures contracts 51,376 - - 51,376 Total $ 10,888,842 $ - $ - $ 10,888,842 |
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 March 31, 2024 Exchange Traded Funds $ 14,515,416 $ - $ - $ 14,515,416 Cash Equivalents 9,701 - - 9,701 Total $ 14,525,117 $ - $ - $ 14,525,117 Balance as of Assets: Level 1 Level 2 Level 3 December 31, 2023 Exchange Traded Funds $ 18,401,900 $ - $ - $ 18,401,900 Cash Equivalents 11,208 - - 11,208 Total $ 18,413,108 $ - $ - $ 18,413,108 |
Note 5 - Financial Highlights_2
Note 5 - Financial Highlights - Teucrium Agricultural Fund (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Teucrium Agricultural Fund [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Three months ended Three months ended March 31, 2024 March 31, 2023 Per Share Operation Performance Net asset value at beginning of period $ 29.45 $ 31.35 Income (loss) from investment operations: Net realized and unrealized loss on investment transactions (1.09 ) (0.29 ) Total expenses, net (0.01 ) (0.01 ) Net decrease in net asset value (1.10 ) (0.30 ) Net asset value at end of period $ 28.35 $ 31.05 Total Return -3.77 % -0.96 % Ratios to Average Net Assets (Annualized) Total expenses 1.76 % 1.49 % Total expenses, net 0.09 % 0.09 % Net investment loss -0.09 % -0.09 % |
Schedule of Investments (Una_12
Schedule of Investments (Unaudited) - Hashdex Bitcoin Futures ETF (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 5.240 % $ 22,987,077 $ 22,987,077 8.28 % 22,987,077 Goldman Sachs Financial Square Government Fund - Institutional Class 5.210 % 82,672,927 82,672,927 29.76 82,672,927 Total money market funds $ 105,660,004 $ 105,660,004 38.04 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper American Electric Power Company, Inc. June 12, 2024 5.465 % $ 4,941,190 $ 4,946,401 1.78 % 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. April 23, 2024 5.844 % 2,465,045 2,491,261 0.90 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 7, 2024 5.834 % 2,465,106 2,485,725 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 9, 2024 5.710 % 4,946,334 4,970,444 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 14, 2024 5.782 % 2,464,625 2,483,098 0.89 2,500,000 Brookfield Infrastructure Holdings (Canada) Inc. May 16, 2024 5.772 % 4,929,376 4,964,688 1.79 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. May 22, 2024 5.780 % 2,466,590 2,479,954 0.89 2,500,000 Campbell Soup Company May 1, 2024 5.601 % 4,955,696 4,977,084 1.79 5,000,000 The Cigna Group April 5, 2024 5.501 % 2,970,300 2,998,200 1.08 3,000,000 Crown Castle Inc. April 18, 2024 5.530 % 9,945,600 9,974,312 3.59 10,000,000 EIDP, Inc. May 23, 2024 5.314 % 4,934,875 4,962,372 1.79 5,000,000 FMC Corporation April 22, 2024 5.755 % 2,487,815 2,491,746 0.90 2,500,000 General Motors Financial Company, Inc. April 23, 2024 5.511 % 4,932,500 4,983,500 1.79 5,000,000 General Motors Financial Company, Inc. April 29, 2024 5.408 % 3,465,928 3,485,545 1.25 3,500,000 Glencore Funding LLC April 16, 2024 5.490 % 7,456,125 7,483,125 2.69 7,500,000 Glencore Funding LLC April 30, 2024 5.493 % 4,964,750 4,978,250 1.79 5,000,000 Glencore Funding LLC May 10, 2024 5.475 % 7,440,597 7,456,287 2.68 7,500,000 Harley-Davidson Financial Services, Inc. April 26, 2024 5.700 % 2,482,111 2,490,278 0.90 2,500,000 Harley-Davidson Financial Services, Inc. May 16, 2024 5.815 % 4,943,792 4,964,376 1.79 5,000,000 National Fuel Gas Company April 4, 2024 5.544 % 7,476,113 7,496,588 2.70 7,500,000 Stanley Black & Decker, Inc. April 4, 2024 5.604 % 4,987,734 4,997,700 1.80 5,000,000 VW Credit, Inc. April 11, 2024 5.511 % 9,865,000 9,985,000 3.59 10,000,000 VW Credit, Inc. May 16, 2024 5.402 % 4,943,320 4,966,876 1.45 5,000,000 WGL Holdings, Inc. April 15, 2024 5.616 % 4,984,640 4,989,248 1.46 5,000,000 Total Commercial Paper $ 117,915,162 $ 118,502,058 41.97 % Total Cash Equivalents $ 224,162,062 80.01 % 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 SEP24 901 $ 154,412 0.06 % $ 20,925,725 United States wheat futures contracts CBOT wheat futures SEP24 1,599 1,513,306 0.54 47,290,425 Total commodity and cryptocurrency futures contracts $ 1,667,718 0.60 % $ 68,216,150 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 JUL24 1,072 $ 2,021,501 0.73 % $ 24,361,200 CBOT Corn Futures DEC24 1,022 1,911,222 0.69 24,413,025 United States soybean futures contracts CBOT soybean futures JUL24 197 308,999 0.11 11,871,713 CBOT soybean futures NOV24 172 478,846 0.17 10,201,750 CBOT soybean futures NOV25 204 7,131 0.00 11,860,050 United States sugar futures contracts ICE sugar futures JUL24 234 594,646 0.21 5,805,072 ICE sugar futures OCT24 201 83,984 0.03 4,963,896 ICE sugar futures MAR25 233 135,771 0.05 5,769,826 United States wheat futures contracts CBOT wheat futures JUL24 1,915 3,610,065 1.30 55,128,063 CBOT wheat futures DEC24 1,800 9,199,877 3.31 55,080,000 Total commodity and cryptocurrency futures contracts $ 18,352,042 6.60 % $ 209,454,595 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 3,661,367 1.32 % 181,115 Teucrium Soybean Fund 3,574,703 1.29 142,076 Teucrium Sugar Fund 3,605,828 1.30 267,233 Teucrium Wheat Fund 3,673,518 1.32 682,062 Total exchange-traded funds $ 16,068,429 $ 14,515,416 5.23 % Percentage of Description: Assets Yield Cost Fair Value Net Assets Shares Cash equivalents Money market funds U.S. Bank Deposit Account 5.270 % $ 39,325,186 $ 39,325,186 12.50 % 39,325,186 Goldman Sachs Financial Square Government Fund - Institutional Class 5.250 % 80,722,654 80,722,654 25.66 80,722,654 Total money market funds $ 120,047,840 $ 120,047,840 38.16 % Maturity Percentage of Principal Date Yield Cost Fair Value Net Assets Amount Commercial Paper Albemarle Corporation January 3, 2024 5.770 % $ 4,950,475 $ 4,998,428 1.59 % 5,000,000 Albemarle Corporation January 4, 2024 5.753 % 4,960,764 4,997,646 1.59 5,000,000 Albemarle Corporation January 8, 2024 5.738 % 4,952,302 4,994,526 1.59 5,000,000 Albemarle Corporation January 11, 2024 5.808 % 4,956,460 4,992,083 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 9, 2024 5.794 % 4,979,416 4,993,666 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 16, 2024 5.853 % 4,933,150 4,988,062 1.59 5,000,000 Brookfield Infrastructure Holdings (Canada) Inc. January 30, 2024 5.814 % 3,032,227 3,040,948 0.97 3,055,000 Entergy Corporation March 1, 2024 5.665 % 7,402,875 7,430,625 2.36 7,500,000 FMC Corporation January 19, 2024 5.816 % 7,466,634 7,478,550 2.38 7,500,000 General Motors Financial Company, Inc. January 18, 2024 5.617 % 7,420,795 7,480,486 2.38 7,500,000 General Motors Financial Company, Inc. January 24, 2024 5.661 % 4,941,417 4,982,271 1.58 5,000,000 General Motors Financial Company, Inc. February 9, 2024 5.700 % 7,397,667 7,454,648 2.37 7,500,000 Harley-Davidson Financial Services, Inc. January 9, 2024 5.843 % 4,949,066 4,993,634 1.59 5,000,000 Harley-Davidson Financial Services, Inc. February 1, 2024 5.867 % 7,441,200 7,462,800 2.37 7,500,000 Harley-Davidson Financial Services, Inc. February 14, 2024 5.927 % 7,421,323 7,446,741 2.37 7,500,000 National Fuel Gas Company January 8, 2024 5.867 % 4,960,800 4,994,400 1.59 5,000,000 National Fuel Gas Company January 26, 2024 5.941 % 2,478,948 2,489,879 0.79 2,500,000 Oracle Corporation March 6, 2024 5.562 % 4,934,904 4,950,799 1.57 5,000,000 Stanley Black & Decker, Inc. January 22, 2024 5.807 % 7,437,063 7,475,063 2.38 7,500,000 V.F. Corporation January 17, 2024 5.674 % 4,936,679 4,987,645 1.59 5,000,000 V.F. Corporation January 18, 2024 5.606 % 4,947,292 4,987,014 1.59 5,000,000 V.F. Corporation January 25, 2024 5.910 % 4,928,362 4,950,783 1.57 4,970,000 WGL Holdings, Inc. January 3, 2024 5.793 % 4,981,792 4,998,416 1.59 5,000,000 WGL Holdings, Inc. January 12, 2024 5.849 % 7,461,666 7,486,824 2.38 7,500,000 Walgreens Boots Alliance, Inc. January 12, 2024 6.028 % 7,950,009 7,985,529 2.54 8,000,000 Total Commercial Paper $ 142,223,286 $ 143,041,466 45.50 % Total Cash Equivalents $ 263,089,306 83.66 % Number of Percentage of Notional Amount Contracts Fair Value Net Assets (Long Exposure) Commodity and Cryptocurrency futures contracts United States wheat futures contracts CBOT wheat futures MAY24 2,018 $ 363,500 0.12 % $ 64,525,550 CBOT wheat futures JUL24 1,711 1,873,993 0.60 55,243,913 United States CME Bitcoin futures contracts CME Bitcoin futures JAN24 6 129,519 0.04 1,274,550 Total commodity and cryptocurrency futures contracts $ 2,367,012 0.76 % $ 121,044,013 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 MAY24 1,171 $ 1,102,254 0.35 % $ 28,338,200 CBOT corn futures JUL24 983 384,407 0.12 24,280,100 CBOT corn futures DEC24 1,128 695,480 0.22 28,397,400 United States soybean futures contracts CBOT soybean futures MAR24 156 617,118 0.20 10,124,400 CBOT soybean futures MAY24 133 633,749 0.20 8,693,213 CBOT soybean futures NOV24 164 140,794 0.04 10,215,150 United States sugar futures contracts ICE sugar futures MAY24 270 1,051,261 0.33 6,175,008 ICE sugar futures JUL24 233 1,128,473 0.36 5,326,193 ICE sugar futures MAR25 268 508,264 0.16 6,216,314 United States wheat futures contracts CBOT wheat futures DEC24 1,924 4,575,666 1.45 64,357,800 United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 0.02 1,288,500 Total commodity and cryptocurrency futures contracts $ 10,888,842 3.45 % $ 193,412,278 Percentage of Exchange-traded funds* Cost Fair Value Net Assets Shares Teucrium Corn Fund $ 4,567,949 1.45 % 211,348 Teucrium Soybean Fund 4,546,758 1.45 168,219 Teucrium Sugar Fund 4,624,253 1.47 371,871 Teucrium Wheat Fund 4,662,940 1.48 779,782 Total exchange-traded funds $ 19,469,359 $ 18,401,900 5.85 % |
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 % $ 1,867,663 $ 1,867,663 73.62 % 1,867,663 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 JAN24 6 $ 129,519 5.11 % $ 1,274,550 Number of Percentage of Notional Amount Description: Liabilities Contracts Fair Value Net Assets (Long Exposure) Cryptocurrency futures contracts United States CME Bitcoin futures contracts CME Bitcoin futures FEB24 6 51,376 2.03 1,288,500 |
Note 1 - Organization and Op_13
Note 1 - Organization and Operation - Hashdex Bitcoin Futures ETF (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ 93,105 $ 120,560 Amount of Custody Services Waived $ 3,615 $ 7,329 Amount Recognized for Distribution Services $ 36,539 $ 38,765 Amount of Distribution Services Waived $ 1,527 $ 2,322 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Hashdex Bitcoin Futures ETF [Member] | |
Notes Tables | |
Schedule of Related Party Expenses [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Amount Recognized for Custody Services $ - $ 259 Amount of Custody Services Waived $ - $ 259 Amount Recognized for Distribution Services $ - $ 60 Amount of Distribution Services Waived $ - $ 60 Amount Recognized for Wilmington Trust $ - $ - Amount of Wilmington Trust Waived $ - $ - |
Note 3 - Summary of Signific_14
Note 3 - Summary of Significant Accounting Policies - Hashdex Bitcoin Futures ETF (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ 9,706 $ 4,158 $ 2,008 $ 15,580 $ - $ 192 $ 31,644 Three months ended March 31, 2023 $ 17,270 $ 6,340 $ 6,055 $ 21,746 $ - $ 609 $ 52,020 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | CORN SOYB CANE WEAT TAGS DEFI TRUST Three months ended March 31, 2024 $ - $ - $ - $ - $ 69,538 $ 62,309 $ 131,847 Three months ended March 31, 2023 $ - $ - $ - $ - $ 125,494 $ 70,570 $ 196,064 |
Hashdex Bitcoin Futures ETF [Member] | |
Notes Tables | |
Schedule of Brokerage Commissions Paid [Table Text Block] | DEFI Three months ended March 31, 2024 $ 192 Three months ended March 31, 2023 $ 609 |
Schedule of Expenses Paid Waived by Sponsor [Table Text Block] | DEFI Three months ended March 31, 2024 $ 62,309 Three months ended March 31, 2023 $ 70,570 |
Note 4 - Fair Value Measurem_14
Note 4 - Fair Value Measurements - Hashdex Bitcoin Futures ETF (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 Cash Equivalents $ 224,162,062 $ - $ - $ 224,162,062 Commodity Futures Contracts Corn futures contracts 154,412 - - 154,412 Wheat futures contracts 1,513,306 - - 1,513,306 Total $ 225,829,780 $ - $ - $ 225,829,780 Liabilities Level 1 Level 2 Level 3 Balance as of March 31, 2024 Commodity Futures Contracts Corn futures contracts $ 3,932,723 $ - $ - $ 3,932,723 Soybean futures contracts 794,976 - - 794,976 Sugar futures contracts 814,401 - - 814,401 Wheat futures contracts 12,809,942 - - 12,809,942 Total $ 18,352,042 $ - $ - $ 18,352,042 Assets: Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents $ 263,089,306 $ - $ - $ 263,089,306 Commodity and Cryptocurrency Futures Contracts Wheat futures contracts 2,237,493 - - 2,237,493 Bitcoin futures contracts 129,519 - - 129,519 Total $ 265,456,318 $ - $ - $ 265,456,318 Liabilities Level 1 Level 2 Level 3 Balance as of December 31, 2023 Cash Equivalents Commodity and Cryptocurrency Futures Contracts Corn futures contracts $ 2,182,141 $ - $ - $ 2,182,141 Soybean futures contracts 1,391,661 - - 1,391,661 Sugar futures contracts 2,687,998 - - 2,687,998 Wheat futures contracts 4,575,666 - - 4,575,666 Bitcoin futures contracts 51,376 - - 51,376 Total $ 10,888,842 $ - $ - $ 10,888,842 |
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 December 31, 2023 Cash Equivalents $ 1,867,663 $ - $ - $ 1,867,663 Bitcoin futures contracts 129,519 - - 129,519 Total $ 1,997,182 $ - $ - $ 1,997,182 Balance as of Liabilities Level 1 Level 2 Level 3 December 31, 2023 Bitcoin futures contracts $ 51,376 $ - $ - $ 51,376 |
Note 5 - Derivative Instrume_12
Note 5 - Derivative Instruments and Hedging Activities - Hashdex Bitcoin Futures ETF (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 (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 $ 154,412 $ - $ 154,412 $ 154,412 $ - $ - Wheat futures contracts $ 1,513,306 $ - $ 1,513,306 $ 1,513,306 $ - $ - Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2024 (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 $ 3,932,723 $ - $ 3,932,723 $ 154,412 $ 3,778,311 $ - Soybean futures contracts $ 794,976 $ - $ 794,976 $ - $ 794,976 $ - Sugar futures contracts $ 814,401 $ - $ 814,401 $ - $ 814,401 $ - Wheat futures contracts $ 12,809,942 $ - $ 12,809,942 $ 1,513,306 $ 11,296,636 $ - Offsetting of Financial Assets and Derivative Assets as of December 31, 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 Wheat futures contracts $ 2,237,493 $ - $ 2,237,493 $ 2,237,493 $ - $ - Bitcoin futures contracts $ 129,519 $ - $ 129,519 $ 51,376 $ - $ 78,143 Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 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 $ 2,182,141 $ - $ 2,182,141 $ - $ 2,182,141 $ - Soybean futures contracts $ 1,391,661 $ - $ 1,391,661 $ - $ 1,391,661 $ - Sugar futures contracts $ 2,687,998 $ - $ 2,687,998 $ - $ 2,687,998 $ - Wheat futures contracts $ 4,575,666 $ - $ 4,575,666 $ 2,237,493 $ 2,338,173 $ - Bitcoin futures contracts $ 51,376 $ - $ 51,376 $ 51,376 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (3,964,335 ) $ (1,596,170 ) Soybeans futures contracts (2,632,854 ) 596,685 Sugar futures contracts (482,314 ) 1,873,597 Wheat futures contracts (10,037,305 ) (8,958,463 ) Bitcoin futures Contracts (78,143 ) 114,383 Total commodity and cryptocurrency futures contracts $ (17,194,951 ) $ (7,969,968 ) Realized (Loss) Gain on Commodity Futures Contracts Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts Commodity Price and Cryptocurrency Price Corn futures contracts $ (6,268,935 ) $ (3,299,360 ) Soybeans futures contracts 1,067,543 (3,699,642 ) Sugar futures contracts 1,339,448 3,139,817 Wheat futures contracts (23,358,733 ) (2,092,562 ) Bitcoin futures Contracts 629,551 128,468 Total commodity and cryptocurrency futures contracts $ (26,591,126 ) $ (5,823,279 ) |
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 from Broker* Net Amount Cryptocurrency Price Bitcoin futures contracts $ 129,519 $ - $ 129,519 $ 51,376 $ - $ 78,143 (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 Cryptocurrency Price Bitcoin futures contracts $ 51,376 $ - $ 51,376 $ 51,376 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Realized Loss on Cryptocurrency Futures Contracts Net Change in Unrealized Appreciation on Cryptocurrency Futures Contracts Cryptocurrency Price Bitcoin futures Contracts $ (78,143 ) $ 114,383 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) | 3 Months Ended |
Mar. 31, 2024 | |
Hashdex Bitcoin Futures ETF [Member] | |
Notes Tables | |
Investment Company, Financial Highlights [Table Text Block] | Three months ended Three months ended March 31, 2024 March 31, 2023 Per Share Operation Performance Net asset value at beginning of period $ 50.74 $ 21.40 Income (loss) from investment operations: Interest income 0.02 0.27 Net assets transferred to Acquired Fund (51.48 ) Net realized and unrealized gain on cryptocurrency futures contracts 0.72 15.16 Total expenses, net 0.00 (0.07 ) Net (decrease) increase in net asset value (50.74 ) 15.36 Net asset value at end of period $ - $ 36.76 Total Return 0.00 % 71.79 % Ratios to Average Net Assets (Annualized) Total expenses 286.28 % 20.48 % Total expenses, net 0.92 % 0.94 % Net investment income 4.00 % 2.78 % |
Combined Schedule of Investme_3
Combined Schedule of Investments (Unaudited) - Investments (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 | |
CBOT Corn Futures SEP24 [Member] | |||
Fair value | $ 154,412 | ||
Percentage of net assets | 0.06% | ||
Number of contracts | 901 | ||
Notional amount, asset | $ 20,925,725 | ||
CBOT Wheat Futures SEP24 [Member] | |||
Fair value | $ 1,513,306 | ||
Percentage of net assets | 0.54% | ||
Number of contracts | 1,599 | ||
Notional amount, asset | $ 47,290,425 | ||
Commodity and Cryptocurrency Futures Contracts [Member] | |||
Fair value | $ 1,667,718 | $ 2,367,012 | |
Percentage of net assets | 0.60% | 0.76% | |
Notional amount, asset | $ 68,216,150 | $ 121,044,013 | |
Commodity and Cryptocurrency Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 18,352,042 | $ 10,888,842 | |
Percentage of net assets | 6.60% | 3.45% | |
Notional amount, liability | $ 209,454,595 | $ 193,412,278 | |
Money Market Funds [Member] | |||
Cost | 105,660,004 | 120,047,840 | |
Fair value | $ 105,660,004 | $ 120,047,840 | |
Percentage of net assets | 38.04% | 38.16% | |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | |||
Index | 5.24% | 5.27% | |
Cost | $ 22,987,077 | $ 39,325,186 | |
Fair value | $ 22,987,077 | $ 39,325,186 | |
Percentage of net assets | 8.28% | 12.50% | |
Shares (in shares) | 22,987,077 | 39,325,186 | |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | |||
Index | 5.21% | 5.25% | |
Cost | $ 82,672,927 | $ 80,722,654 | |
Fair value | $ 82,672,927 | $ 80,722,654 | |
Percentage of net assets | 29.76% | 25.66% | |
Shares (in shares) | 82,672,927 | 80,722,654 | |
Commercial Paper, One [Member] | American Electric Power Company, Inc. [Member] | |||
Index | 5.465% | ||
Cost | $ 4,941,190 | ||
Fair value | $ 4,946,401 | ||
Percentage of net assets | 1.78% | ||
Maturity date | Jun. 12, 2024 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, One [Member] | Albemarle Corporation [Member] | |||
Index | 5.77% | ||
Cost | $ 4,950,475 | ||
Fair value | $ 4,998,428 | ||
Percentage of net assets | 1.59% | ||
Maturity date | Jan. 03, 2024 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | |||
Index | 5.844% | 5.794% | |
Cost | $ 2,465,045 | $ 4,979,416 | |
Fair value | $ 2,491,261 | $ 4,993,666 | |
Percentage of net assets | 0.90% | 1.59% | |
Maturity date | Apr. 23, 2024 | Jan. 09, 2024 | |
Principal amount | $ 2,500,000 | $ 5,000,000 | |
Commercial Paper, One [Member] | Campbell Soup Company [Member] | |||
Index | 5.601% | ||
Cost | $ 4,955,696 | ||
Fair value | $ 4,977,084 | ||
Percentage of net assets | 1.79% | ||
Maturity date | May 01, 2024 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, One [Member] | The Cigna Group [Member] | |||
Index | 5.501% | ||
Cost | $ 2,970,300 | ||
Fair value | $ 2,998,200 | ||
Percentage of net assets | 1.08% | ||
Maturity date | Apr. 05, 2024 | ||
Principal amount | $ 3,000,000 | ||
Commercial Paper, One [Member] | FMC Corporation [Member] | |||
Index | 5.755% | 5.816% | |
Cost | $ 2,487,815 | $ 7,466,634 | |
Fair value | $ 2,491,746 | $ 7,478,550 | |
Percentage of net assets | 0.90% | 2.38% | |
Maturity date | Apr. 22, 2024 | Jan. 19, 2024 | |
Principal amount | $ 2,500,000 | $ 7,500,000 | |
Commercial Paper, One [Member] | Crown Castle Inc. [Member] | |||
Index | 5.53% | ||
Cost | $ 9,945,600 | ||
Fair value | $ 9,974,312 | ||
Percentage of net assets | 3.59% | ||
Maturity date | Apr. 18, 2024 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper, One [Member] | General Motors Financial Company, Inc. [Member] | |||
Index | 5.511% | 5.617% | |
Cost | $ 4,932,500 | $ 7,420,795 | |
Fair value | $ 4,983,500 | $ 7,480,486 | |
Percentage of net assets | 1.79% | 2.38% | |
Maturity date | Apr. 23, 2024 | Jan. 18, 2024 | |
Principal amount | $ 5,000,000 | $ 7,500,000 | |
Commercial Paper, One [Member] | EIDP, Inc. [Member] | |||
Index | 5.314% | ||
Cost | $ 4,934,875 | ||
Fair value | $ 4,962,372 | ||
Percentage of net assets | 1.79% | ||
Maturity date | May 23, 2024 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, One [Member] | Harley-Davidson Financial Services, Inc. [Member] | |||
Index | 5.70% | 5.843% | |
Cost | $ 2,482,111 | $ 4,949,066 | |
Fair value | $ 2,490,278 | $ 4,993,634 | |
Percentage of net assets | 0.90% | 1.59% | |
Maturity date | Apr. 26, 2024 | Jan. 09, 2024 | |
Principal amount | $ 2,500,000 | $ 5,000,000 | |
Commercial Paper, One [Member] | Glencore Funding LLC [Member] | |||
Index | 5.49% | ||
Cost | $ 7,456,125 | ||
Fair value | $ 7,483,125 | ||
Percentage of net assets | 2.69% | ||
Maturity date | Apr. 16, 2024 | ||
Principal amount | $ 7,500,000 | ||
Commercial Paper, One [Member] | National Fuel Gas Company [Member] | |||
Index | 5.544% | 5.867% | |
Cost | $ 7,476,113 | $ 4,960,800 | |
Fair value | $ 7,496,588 | $ 4,994,400 | |
Percentage of net assets | 2.70% | 1.59% | |
Maturity date | Apr. 04, 2024 | Jan. 08, 2024 | |
Principal amount | $ 7,500,000 | $ 5,000,000 | |
Commercial Paper, One [Member] | Oracle Corporation [Member] | |||
Index | 5.562% | ||
Cost | $ 4,934,904 | ||
Fair value | $ 4,950,799 | ||
Percentage of net assets | 1.57% | ||
Maturity date | Mar. 06, 2024 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, One [Member] | Stanley Black & Decker, Inc. [Member] | |||
Index | 5.604% | 5.807% | |
Cost | $ 4,987,734 | $ 7,437,063 | |
Fair value | $ 4,997,700 | $ 7,475,063 | |
Percentage of net assets | 1.80% | 2.38% | |
Maturity date | Apr. 04, 2024 | Jan. 22, 2024 | |
Principal amount | $ 5,000,000 | $ 7,500,000 | |
Commercial Paper, One [Member] | V.F. Corporation [Member] | |||
Index | 5.674% | ||
Cost | $ 4,936,679 | ||
Fair value | $ 4,987,645 | ||
Percentage of net assets | 1.59% | ||
Maturity date | Jan. 17, 2024 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, One [Member] | VW Credit, Inc. [Member] | |||
Index | 5.511% | ||
Cost | $ 9,865,000 | ||
Fair value | $ 9,985,000 | ||
Percentage of net assets | 3.59% | ||
Maturity date | Apr. 11, 2024 | ||
Principal amount | $ 10,000,000 | ||
Commercial Paper, One [Member] | WGL Holdings, Inc. [Member] | |||
Index | 5.616% | 5.793% | |
Cost | $ 4,984,640 | $ 4,981,792 | |
Fair value | $ 4,989,248 | $ 4,998,416 | |
Percentage of net assets | 1.46% | 1.59% | |
Maturity date | Apr. 15, 2024 | Jan. 03, 2024 | |
Principal amount | $ 5,000,000 | $ 5,000,000 | |
Commercial Paper, One [Member] | Walgreens Boots Alliance, Inc. [Member] | |||
Index | 6.028% | ||
Cost | $ 7,950,009 | ||
Fair value | $ 7,985,529 | ||
Percentage of net assets | 2.54% | ||
Maturity date | Jan. 12, 2024 | ||
Principal amount | $ 8,000,000 | ||
CBOT Corn Futures JUL24 [Member] | Corn Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 2,021,501 | $ 384,407 | |
Percentage of net assets | 0.73% | 0.12% | |
Number of contracts | 1,072 | 983 | |
Notional amount, liability | $ 24,361,200 | $ 24,280,100 | |
Exchange Traded Funds [Member] | |||
Cost | [1] | 16,068,429 | 19,469,359 |
Fair value | [1] | $ 14,515,416 | $ 18,401,900 |
Percentage of net assets | [1] | 5.23% | 5.85% |
Exchange Traded Funds [Member] | Teucrium Corn Fund [Member] | |||
Fair value | [1] | $ 3,661,367 | $ 4,567,949 |
Percentage of net assets | [1] | 1.32% | 1.45% |
Shares (in shares) | [1] | 181,115 | 211,348 |
Exchange Traded Funds [Member] | Teucrium Soybean Fund [Member] | |||
Fair value | [1] | $ 3,574,703 | $ 4,546,758 |
Percentage of net assets | [1] | 1.29% | 1.45% |
Shares (in shares) | [1] | 142,076 | 168,219 |
Exchange Traded Funds [Member] | Teucrium Sugar Fund [Member] | |||
Fair value | [1] | $ 3,605,828 | $ 4,624,253 |
Percentage of net assets | [1] | 1.30% | 1.47% |
Shares (in shares) | [1] | 267,233 | 371,871 |
Exchange Traded Funds [Member] | Teucrium Wheat Fund [Member] | |||
Fair value | [1] | $ 3,673,518 | $ 4,662,940 |
Percentage of net assets | [1] | 1.32% | 1.48% |
Shares (in shares) | [1] | 682,062 | 779,782 |
CBOT Wheat Futures MAY24 [Member] | Wheat Futures Contracts [Member] | |||
Fair value | $ 363,500 | ||
Percentage of net assets | 0.12% | ||
Number of contracts | 2,018 | ||
Notional amount, asset | $ 64,525,550 | ||
CBOT Corn Futures MAY24 [Member] | Corn Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 1,102,254 | ||
Percentage of net assets | 0.35% | ||
Number of contracts | 1,171 | ||
Notional amount, liability | $ 28,338,200 | ||
CBOT Corn Futures DEC24 [Member] | Corn Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 1,911,222 | $ 695,480 | |
Percentage of net assets | 0.69% | 0.22% | |
Number of contracts | 1,022 | 1,128 | |
Notional amount, liability | $ 24,413,025 | $ 28,397,400 | |
Commercial Paper, Two [Member] | Albemarle Corporation [Member] | |||
Index | 5.753% | ||
Cost | $ 4,960,764 | ||
Fair value | $ 4,997,646 | ||
Percentage of net assets | 1.59% | ||
Maturity date | Jan. 04, 2024 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | |||
Index | 5.834% | 5.853% | |
Cost | $ 2,465,106 | $ 4,933,150 | |
Fair value | $ 2,485,725 | $ 4,988,062 | |
Percentage of net assets | 0.89% | 1.59% | |
Maturity date | May 07, 2024 | Jan. 16, 2024 | |
Principal amount | $ 2,500,000 | $ 5,000,000 | |
Commercial Paper, Two [Member] | General Motors Financial Company, Inc. [Member] | |||
Index | 5.408% | 5.661% | |
Cost | $ 3,465,928 | $ 4,941,417 | |
Fair value | $ 3,485,545 | $ 4,982,271 | |
Percentage of net assets | 1.25% | 1.58% | |
Maturity date | Apr. 29, 2024 | Jan. 24, 2024 | |
Principal amount | $ 3,500,000 | $ 5,000,000 | |
Commercial Paper, Two [Member] | Harley-Davidson Financial Services, Inc. [Member] | |||
Index | 5.815% | 5.867% | |
Cost | $ 4,943,792 | $ 7,441,200 | |
Fair value | $ 4,964,376 | $ 7,462,800 | |
Percentage of net assets | 1.79% | 2.37% | |
Maturity date | May 16, 2024 | Feb. 01, 2024 | |
Principal amount | $ 5,000,000 | $ 7,500,000 | |
Commercial Paper, Two [Member] | Glencore Funding LLC [Member] | |||
Index | 5.493% | ||
Cost | $ 4,964,750 | ||
Fair value | $ 4,978,250 | ||
Percentage of net assets | 1.79% | ||
Maturity date | Apr. 30, 2024 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, Two [Member] | National Fuel Gas Company [Member] | |||
Index | 5.941% | ||
Cost | $ 2,478,948 | ||
Fair value | $ 2,489,879 | ||
Percentage of net assets | 0.79% | ||
Maturity date | Jan. 26, 2024 | ||
Principal amount | $ 2,500,000 | ||
Commercial Paper, Two [Member] | V.F. Corporation [Member] | |||
Index | 5.606% | ||
Cost | $ 4,947,292 | ||
Fair value | $ 4,987,014 | ||
Percentage of net assets | 1.59% | ||
Maturity date | Jan. 18, 2024 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, Two [Member] | VW Credit, Inc. [Member] | |||
Index | 5.402% | ||
Cost | $ 4,943,320 | ||
Fair value | $ 4,966,876 | ||
Percentage of net assets | 1.45% | ||
Maturity date | May 16, 2024 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, Two [Member] | WGL Holdings, Inc. [Member] | |||
Index | 5.849% | ||
Cost | $ 7,461,666 | ||
Fair value | $ 7,486,824 | ||
Percentage of net assets | 2.38% | ||
Maturity date | Jan. 12, 2024 | ||
Principal amount | $ 7,500,000 | ||
CBOT Wheat Futures JUL24 [Member] | Wheat Futures Contracts [Member] | |||
Fair value | $ 1,873,993 | ||
Percentage of net assets | 0.60% | ||
Number of contracts | 1,711 | ||
Notional amount, asset | $ 55,243,913 | ||
CBOT Wheat Futures JUL24 [Member] | Wheat Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 3,610,065 | ||
Percentage of net assets | 1.30% | ||
Number of contracts | 1,915 | ||
Notional amount, liability | $ 55,128,063 | ||
CBOT Soybean Futures JUL24 [Member] | Soybean Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 308,999 | ||
Percentage of net assets | 0.11% | ||
Number of contracts | 197 | ||
Notional amount, liability | $ 11,871,713 | ||
Commercial Paper, Three [Member] | Albemarle Corporation [Member] | |||
Index | 5.738% | ||
Cost | $ 4,952,302 | ||
Fair value | $ 4,994,526 | ||
Percentage of net assets | 1.59% | ||
Maturity date | Jan. 08, 2024 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper, Three [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | |||
Index | 5.71% | 5.814% | |
Cost | $ 4,946,334 | $ 3,032,227 | |
Fair value | $ 4,970,444 | $ 3,040,948 | |
Percentage of net assets | 1.79% | 0.97% | |
Maturity date | May 09, 2024 | Jan. 30, 2024 | |
Principal amount | $ 5,000,000 | $ 3,055,000 | |
Commercial Paper, Three [Member] | General Motors Financial Company, Inc. [Member] | |||
Index | 5.70% | ||
Cost | $ 7,397,667 | ||
Fair value | $ 7,454,648 | ||
Percentage of net assets | 2.37% | ||
Maturity date | Feb. 09, 2024 | ||
Principal amount | $ 7,500,000 | ||
Commercial Paper, Three [Member] | Harley-Davidson Financial Services, Inc. [Member] | |||
Index | 5.927% | ||
Cost | $ 7,421,323 | ||
Fair value | $ 7,446,741 | ||
Percentage of net assets | 2.37% | ||
Maturity date | Feb. 14, 2024 | ||
Principal amount | $ 7,500,000 | ||
Commercial Paper, Three [Member] | Glencore Funding LLC [Member] | |||
Index | 5.475% | ||
Cost | $ 7,440,597 | ||
Fair value | $ 7,456,287 | ||
Percentage of net assets | 2.68% | ||
Maturity date | May 10, 2024 | ||
Principal amount | $ 7,500,000 | ||
Commercial Paper, Three [Member] | V.F. Corporation [Member] | |||
Index | 5.91% | ||
Cost | $ 4,928,362 | ||
Fair value | $ 4,950,783 | ||
Percentage of net assets | 1.57% | ||
Maturity date | Jan. 25, 2024 | ||
Principal amount | $ 4,970,000 | ||
CME Bitcoin Futures JAN24 [Member] | Bitcoin Futures Contracts [Member] | |||
Fair value | $ 129,519 | ||
Percentage of net assets | 0.04% | ||
Number of contracts | 6 | ||
Notional amount, asset | $ 1,274,550 | ||
CBOT Soybean Futures NOV24 [Member] | Soybean Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 478,846 | $ 140,794 | |
Percentage of net assets | 0.17% | 0.04% | |
Number of contracts | 172 | 164 | |
Notional amount, liability | $ 10,201,750 | $ 10,215,150 | |
Commercial Paper Four [Member] | Albemarle Corporation [Member] | |||
Index | 5.808% | ||
Cost | $ 4,956,460 | ||
Fair value | $ 4,992,083 | ||
Percentage of net assets | 1.59% | ||
Maturity date | Jan. 11, 2024 | ||
Principal amount | $ 5,000,000 | ||
Commercial Paper Four [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | |||
Index | 5.782% | ||
Cost | $ 2,464,625 | ||
Fair value | $ 2,483,098 | ||
Percentage of net assets | 0.89% | ||
Maturity date | May 14, 2024 | ||
Principal amount | $ 2,500,000 | ||
CBOT Soybean Futures MAR24 [Member] | Soybean Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 617,118 | ||
Percentage of net assets | 0.20% | ||
Number of contracts | 156 | ||
Notional amount, liability | $ 10,124,400 | ||
CBOT Soybean Futures NOV25 [Member] | Soybean Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 7,131 | ||
Percentage of net assets | 0% | ||
Number of contracts | 204 | ||
Notional amount, liability | $ 11,860,050 | ||
CBOT Soybean Futures MAY24 [Member] | Soybean Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 633,749 | ||
Percentage of net assets | 0.20% | ||
Number of contracts | 133 | ||
Notional amount, liability | $ 8,693,213 | ||
Commercial Paper Five [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | |||
Index | 5.772% | ||
Cost | $ 4,929,376 | ||
Fair value | $ 4,964,688 | ||
Percentage of net assets | 1.79% | ||
Maturity date | May 16, 2024 | ||
Principal amount | $ 5,000,000 | ||
ICE Sugar Futures JUL24 [Member] | Sugar Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 594,646 | $ 1,128,473 | |
Percentage of net assets | 0.21% | 0.36% | |
Number of contracts | 234 | 233 | |
Notional amount, liability | $ 5,805,072 | $ 5,326,193 | |
Commercial Paper Six [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | |||
Index | 5.78% | ||
Cost | $ 2,466,590 | ||
Fair value | $ 2,479,954 | ||
Percentage of net assets | 0.89% | ||
Maturity date | May 22, 2024 | ||
Principal amount | $ 2,500,000 | ||
ICE Sugar Futures OCT24 [Member] | Sugar Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 83,984 | ||
Percentage of net assets | 0.03% | ||
Number of contracts | 201 | ||
Notional amount, liability | $ 4,963,896 | ||
ICE Sugar Futures MAY24 [Member] | Sugar Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 1,051,261 | ||
Percentage of net assets | 0.33% | ||
Number of contracts | 270 | ||
Notional amount, liability | $ 6,175,008 | ||
ICE Sugar Futures MAR25 [Member] | Sugar Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 135,771 | $ 508,264 | |
Percentage of net assets | 0.05% | 0.16% | |
Number of contracts | 233 | 268 | |
Notional amount, liability | $ 5,769,826 | $ 6,216,314 | |
Commercial Paper [Member] | |||
Cost | 117,915,162 | 142,223,286 | |
Fair value | $ 118,502,058 | $ 143,041,466 | |
Percentage of net assets | 41.97% | 45.50% | |
Commercial Paper [Member] | Entergy Corporation [Member] | |||
Index | 5.665% | ||
Cost | $ 7,402,875 | ||
Fair value | $ 7,430,625 | ||
Percentage of net assets | 2.36% | ||
Maturity date | Mar. 01, 2024 | ||
Principal amount | $ 7,500,000 | ||
CBOT Wheat Futures DEC24 [Member] | Wheat Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 9,199,877 | $ 4,575,666 | |
Percentage of net assets | 3.31% | 1.45% | |
Number of contracts | 1,800 | 1,924 | |
Notional amount, liability | $ 55,080,000 | $ 64,357,800 | |
CME Bitcoin Futures FEB24 [Member] | Bitcoin Futures Contracts [Member] | Liability [Member] | |||
Fair value | $ 51,376 | ||
Percentage of net assets | 0.02% | ||
Number of contracts | 6 | ||
Notional amount, liability | $ 1,288,500 | ||
Cash and Cash Equivalents [Member] | |||
Fair value | $ 224,162,062 | $ 263,089,306 | |
Percentage of net assets | 80.01% | 83.66% | |
[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) | 3 Months Ended | |||||||
Jan. 03, 2024 shares | Sep. 15, 2022 USD ($) shares | Mar. 27, 2012 USD ($) shares | Sep. 19, 2011 USD ($) shares | Sep. 16, 2011 USD ($) shares | Jun. 08, 2010 USD ($) shares | Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) shares | |
Number of Series | 6 | |||||||
Stock Issued During Period, Value, New Issues | $ | $ 13,002,447 | $ 17,208,235 | ||||||
Tidal Commodities Trust I [Member] | ||||||||
Merger Agreement, Number of Shares Received Per Share (in shares) | 1 | |||||||
Tidal Investments LLC [Member] | ||||||||
Monthly Fee, Percentage of Management Fee | 7% | |||||||
Monthly Fee, Percentage of Monthly Average Net Assets | 0.04% | |||||||
Teucrium Corn Fund [Member] | ||||||||
Number of Creation Baskets Issued | 4 | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 200,000 | 125,000 | 75,000 | |||||
Stock Issued During Period, Value, New Issues | $ | $ 5,000,000 | $ 2,436,790 | $ 1,991,168 | |||||
Teucrium Sugar Fund [Member] | ||||||||
Number of Creation Baskets Issued | 2 | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 100,000 | 0 | 525,000 | |||||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 0 | $ 5,458,637 | |||||
Teucrium Agricultural Fund [Member] | ||||||||
Number of Creation Baskets Issued | 6 | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 300,000 | 0 | 0 | |||||
Stock Issued During Period, Value, New Issues | $ | $ 15,000,000 | $ 0 | $ 0 | |||||
Hashdex Bitcoin Futures ETF [Member] | ||||||||
Number of Creation Baskets Issued | 5 | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 50,000 | 0 | 10,000 | |||||
Stock Issued During Period, Value, New Issues | $ | $ 1,250,000 | $ 0 | $ 367,689 | |||||
Hashdex Bitcoin Futures ETF [Member] | Tidal Commodities Trust I [Member] | ||||||||
Merger Agreement, Number of Shares Received Per Share (in shares) | 1 | |||||||
Hashdex Bitcoin Futures ETF [Member] | Tidal Investments LLC [Member] | ||||||||
Monthly Fee, Percentage of Management Fee | 7% | |||||||
Monthly Fee, Percentage of Monthly Average Net Assets | 0.04% | |||||||
Teucrium Soybean Fund [Member] | ||||||||
Number of Creation Baskets Issued | 2 | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 100,000 | 325,000 | 125,000 | |||||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 8,094,215 | $ 3,526,043 | |||||
Teucrium Wheat Fund [Member] | ||||||||
Number of Creation Baskets Issued | 2 | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 100,000 | 100,000 | 475,000 | 825,000 | ||||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 2,500,000 | $ 2,471,442 | $ 5,864,698 |
Note 2 - Principal Contracts_15
Note 2 - Principal Contracts and Agreements (Details Textual) | 3 Months Ended |
Mar. 31, 2024 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 |
Note 2 - Principal Contracts_16
Note 2 - Principal Contracts and Agreements - Summary of Expenses (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Amount Recognized for Custody Services | $ 95,024 | $ 120,560 |
Amount Recognized for Distribution Services | 947,591 | 927,712 |
Amount Recognized for Wilmington Trust | 56,338 | 34,617 |
Related Party [Member] | ||
Amount Waived | 25,585 | 23,865 |
Custody Services [Member] | Related Party [Member] | ||
Amount Recognized for Custody Services | 93,105 | 120,560 |
Amount Waived | 3,615 | 7,329 |
Distribution Services [Member] | Related Party [Member] | ||
Amount Waived | 1,527 | 2,322 |
Amount Recognized for Distribution Services | 36,539 | 38,765 |
Wilmington Trust Company [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Wilmington Trust | $ 0 | $ 0 |
Note 3 - Summary of Signific_15
Note 3 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Number of Underlying Funds | 4 | ||||
Open Tax Year | 2021 2022 2023 | ||||
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | |||
Teucrium Corn Fund [Member] | |||||
Open Tax Year | 2021 2022 2023 | ||||
Unrecognized Tax Benefits | $ 0 | 0 | 0 | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | 0 | |||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | ||||
Minimum Number of RedemptionBaskets | 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 | 2021 2022 2023 | ||||
Unrecognized Tax Benefits | $ 0 | 0 | 0 | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | 0 | |||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | ||||
Minimum Number of RedemptionBaskets | 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 | 2021 2022 2023 | ||||
Unrecognized Tax Benefits | $ 0 | 0 | 0 | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | 0 | |||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | ||||
Minimum Number of RedemptionBaskets | 2 | ||||
Teucrium Sugar Fund [Member] | Teucrium Trading, LLC [Member] | |||||
Management Fee, Percentage of Average Daily Net Assets | 1% | ||||
Teucrium Wheat Fund [Member] | |||||
Open Tax Year | 2021 2022 2023 | ||||
Unrecognized Tax Benefits | $ 0 | 0 | 0 | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | 0 | |||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | ||||
Minimum Number of RedemptionBaskets | 2 | ||||
Teucrium Wheat Fund [Member] | Teucrium Trading, LLC [Member] | |||||
Management Fee, Percentage of Average Daily Net Assets | 1% | ||||
Teucrium Agricultural Fund [Member] | |||||
Open Tax Year | 2021 20222 2023 | ||||
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | |||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | ||||
Minimum Number of RedemptionBaskets | 4 | ||||
Teucrium Agricultural Fund [Member] | Teucrium Trading, LLC [Member] | |||||
Management Fee, Percentage of Average Daily Net Assets | 1% | ||||
Hashdex Bitcoin Futures ETF [Member] | |||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | ||||
Minimum Number of RedemptionBaskets | 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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Brokerage Commissions | $ 31,644 | $ 52,020 |
Teucrium Corn Fund [Member] | ||
Brokerage Commissions | 9,706 | 17,270 |
Teucrium Soybean Fund [Member] | ||
Brokerage Commissions | 4,158 | 6,340 |
Teucrium Sugar Fund [Member] | ||
Brokerage Commissions | 2,008 | 6,055 |
Teucrium Wheat Fund [Member] | ||
Brokerage Commissions | 15,580 | 21,746 |
Teucrium Agricultural Fund [Member] | ||
Brokerage Commissions | 0 | 0 |
Hashdex Bitcoin Futures ETF [Member] | ||
Brokerage Commissions | $ 192 | $ 609 |
Note 3 - Summary of Signific_17
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Money Market Funds | $ 105,660,004 | $ 120,047,840 |
Demand Deposit Savings Accounts | 29,533,538 | 29,148,056 |
Commercial Paper | 118,502,058 | 143,041,466 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 253,695,600 | $ 292,237,362 |
Note 3 - Summary of Signific_18
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions (Details) - Related Party [Member] - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Recognized Related Party Transactions | $ 614,406 | $ 591,603 |
Waived Related Party Transactions | $ 25,585 | $ 23,865 |
Note 3 - Summary of Signific_19
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Expenses waived by the Sponsor | $ 131,847 | $ 196,064 |
Teucrium Corn Fund [Member] | ||
Expenses waived by the Sponsor | 0 | 0 |
Teucrium Soybean Fund [Member] | ||
Expenses waived by the Sponsor | 0 | 0 |
Teucrium Sugar Fund [Member] | ||
Expenses waived by the Sponsor | 0 | 0 |
Teucrium Wheat Fund [Member] | ||
Expenses waived by the Sponsor | 0 | 0 |
Teucrium Agricultural Fund [Member] | ||
Expenses waived by the Sponsor | 69,538 | 125,494 |
Hashdex Bitcoin Futures ETF [Member] | ||
Expenses waived by the Sponsor | $ 62,309 | $ 70,570 |
Note 4 - Fair Value Measurem_15
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Cash Equivalents | $ 224,162,062 | $ 263,089,306 |
Total | 225,829,780 | 265,456,318 |
Derivative Liability | 18,352,042 | 10,888,842 |
Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 154,412 | |
Derivative Liability | 3,932,723 | 2,182,141 |
Soybean Futures Contracts [Member] | ||
Derivative Liability | 794,976 | 1,391,661 |
Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,513,306 | 2,237,493 |
Derivative Liability | 12,809,942 | 4,575,666 |
Sugar Futures Contracts [Member] | ||
Derivative Liability | 814,401 | 2,687,998 |
Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 129,519 | |
Derivative Liability | 51,376 | |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 224,162,062 | 263,089,306 |
Total | 225,829,780 | 265,456,318 |
Derivative Liability | 18,352,042 | 10,888,842 |
Fair Value, Inputs, Level 1 [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 154,412 | |
Derivative Liability | 3,932,723 | 2,182,141 |
Fair Value, Inputs, Level 1 [Member] | Soybean Futures Contracts [Member] | ||
Derivative Liability | 794,976 | 1,391,661 |
Fair Value, Inputs, Level 1 [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 1,513,306 | 2,237,493 |
Derivative Liability | 12,809,942 | 4,575,666 |
Fair Value, Inputs, Level 1 [Member] | Sugar Futures Contracts [Member] | ||
Derivative Liability | 814,401 | 2,687,998 |
Fair Value, Inputs, Level 1 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 129,519 | |
Derivative Liability | 51,376 | |
Fair Value, Inputs, Level 2 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Soybean Futures Contracts [Member] | ||
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Sugar Futures Contracts [Member] | ||
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Derivative Liability | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Soybean Futures Contracts [Member] | ||
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Wheat Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 |
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Sugar Futures Contracts [Member] | ||
Derivative Liability | $ 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Derivative Liability | $ 0 |
Note 5 - Derivative Instrume_13
Note 5 - Derivative Instruments and Hedging Activities (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Derivative, Average Notional Amount | $ 277.8 | $ 382.3 |
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 ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Derivative liabilities | $ 18,352,042 | $ 10,888,842 |
Corn Futures Contracts [Member] | ||
Gross amount of recognized assets | 154,412 | |
Gross amount offset, assets | 0 | |
Derivative asset | 154,412 | |
Available for offset, assets | 154,412 | |
Collateral, due to broker, assets | 0 | |
Net amount, assets | 0 | |
Gross amount of recognized liabilities | 3,932,723 | 2,182,141 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 3,932,723 | 2,182,141 |
Futures contracts available for offset, liabilities | 154,412 | 0 |
Collateral, due from broker, liabilities | 3,778,311 | 2,182,141 |
Net amount, liabilities | 0 | 0 |
Wheat Futures Contracts [Member] | ||
Gross amount of recognized assets | 1,513,306 | 2,237,493 |
Gross amount offset, assets | 0 | 0 |
Derivative asset | 1,513,306 | 2,237,493 |
Available for offset, assets | 1,513,306 | 2,237,493 |
Collateral, due to broker, assets | 0 | 0 |
Net amount, assets | 0 | 0 |
Gross amount of recognized liabilities | 12,809,942 | 4,575,666 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 12,809,942 | 4,575,666 |
Futures contracts available for offset, liabilities | 1,513,306 | 2,237,493 |
Collateral, due from broker, liabilities | 11,296,636 | 2,338,173 |
Net amount, liabilities | 0 | 0 |
Soybean Futures Contracts [Member] | ||
Gross amount of recognized liabilities | 794,976 | 1,391,661 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 794,976 | 1,391,661 |
Futures contracts available for offset, liabilities | 0 | 0 |
Collateral, due from broker, liabilities | 794,976 | 1,391,661 |
Net amount, liabilities | 0 | 0 |
Bitcoin Futures Contracts [Member] | ||
Gross amount of recognized assets | 129,519 | |
Gross amount offset, assets | 0 | |
Derivative asset | 129,519 | |
Available for offset, assets | 51,376 | |
Collateral, due to broker, assets | 0 | |
Net amount, assets | 78,143 | |
Gross amount of recognized liabilities | 51,376 | |
Gross amount offset, liabilities | 0 | |
Derivative liabilities | 51,376 | |
Futures contracts available for offset, liabilities | 51,376 | |
Collateral, due from broker, liabilities | 0 | |
Net amount, liabilities | 0 | |
Sugar Futures Contracts [Member] | ||
Gross amount of recognized liabilities | 814,401 | 2,687,998 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 814,401 | 2,687,998 |
Futures contracts available for offset, liabilities | 0 | 0 |
Collateral, due from broker, liabilities | 814,401 | 2,687,998 |
Net amount, liabilities | $ 0 | $ 0 |
Note 5 - Derivative Instrume_15
Note 5 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) on Derivative Instruments (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Realized Gain on Commodity Futures Contracts | $ (17,194,951) | $ (26,591,126) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (7,969,968) | (5,823,279) |
Corn Futures Contracts [Member] | ||
Realized Gain on Commodity Futures Contracts | (3,964,335) | (6,268,935) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (1,596,170) | (3,299,360) |
Soybean Futures Contracts [Member] | ||
Realized Gain on Commodity Futures Contracts | (2,632,854) | 1,067,543 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 596,685 | (3,699,642) |
Sugar Futures Contracts [Member] | ||
Realized Gain on Commodity Futures Contracts | (482,314) | 1,339,448 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 1,873,597 | 3,139,817 |
Wheat Futures Contracts [Member] | ||
Realized Gain on Commodity Futures Contracts | (10,037,305) | (23,358,733) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (8,958,463) | (2,092,562) |
Bitcoin Futures Contracts [Member] | ||
Realized Gain on Commodity Futures Contracts | (78,143) | 629,551 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ 114,383 | $ 128,468 |
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 ($) | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | |
Net Assets | $ 277,788,808 | $ 314,547,414 | $ 357,174,522 | $ 465,375,598 | |
Less: Investment in the Underlying Funds | $ (14,515,416) | $ (18,401,900) | |||
Teucrium Corn Fund [Member] | |||||
Outstanding Shares (in shares) | 3,450,004 | 3,750,004 | |||
Net Assets | $ 69,744,097 | $ 81,050,442 | 115,625,057 | 152,638,405 | |
Teucrium Soybean Fund [Member] | |||||
Outstanding Shares (in shares) | 1,350,004 | 1,075,004 | |||
Net Assets | $ 33,966,763 | $ 29,056,020 | 38,064,500 | 58,429,985 | |
Teucrium Sugar Fund [Member] | |||||
Outstanding Shares (in shares) | 1,225,004 | 1,425,004 | |||
Net Assets | $ 16,529,172 | $ 17,720,099 | 28,038,792 | 24,262,359 | |
Teucrium Wheat Fund [Member] | |||||
Outstanding Shares (in shares) | 29,250,004 | 30,800,004 | |||
Net Assets | $ 157,537,309 | $ 184,176,669 | 173,223,126 | 228,972,039 | |
Teucrium Agricultural Fund [Member] | |||||
Outstanding Shares (in shares) | 512,502 | 625,002 | |||
Net Assets | $ 14,526,883 | $ 18,409,126 | 33,375,119 | 39,575,245 | |
Hashdex Bitcoin Futures ETF [Member] | |||||
Outstanding Shares (in shares) | 50,000 | ||||
Net Assets | 0 | [1],[2],[3] | $ 2,536,958 | $ 2,206,024 | $ 1,070,263 |
Funds Including Underlying Funds [Member] | |||||
Net Assets | 14,526,883 | 18,409,126 | |||
Funds [Member] | |||||
Net Assets | $ 11,467 | $ 7,226 | |||
[1]On January 3, 2024, the scheduled merger of the Hashdex Bitcoin Futures ETF (the “Acquired Fund”), a series of the Teucrium Commodity Trust into the Hashdex Bitcoin Futures ETF (the “Acquiring Fund”), a series of Tidal Commodities Trust I, became effective and therefore, no assets and liabilities remained after the effective date.[2]On September 14, 2022, the Hashdex Bitcoin Futures ETF registered an indeterminate number of shares of the Fund pursuant to Rule 456(d) under the Securities Act of 1933.[3]The Hashdex Bitcoin Futures ETF was merged into the Tidal Commodities Trust I as described in Note 1 to these financials. |
Note 8 - Subsequent Events (Det
Note 8 - Subsequent Events (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | |
May 09, 2024 | Mar. 31, 2024 | Mar. 31, 2023 | |
Stockholders' Equity, Period Increase (Decrease) | $ (36,758,606) | $ (108,201,076) | |
Teucrium Sugar Fund [Member] | |||
Stockholders' Equity, Period Increase (Decrease) | $ (1,190,927) | $ 3,776,433 | |
Teucrium Sugar Fund [Member] | Subsequent Event [Member] | |||
Stockholders' Equity, Period Increase (Decrease) | $ 3,645,989 | ||
Investment Company, Net Assets, Period Increase (Decrease), Percentage | 22.10% | ||
Investment Company, Net Assets, Period Increase (Decrease), Percentage, Shares Outstanding | 12.20% | ||
Investment Company, Net Asset Value Per Share, Period Increase (Decrease), Percentage | 11.20% |
Schedule of Investments (Una_13
Schedule of Investments (Unaudited) - Investments - Teucrium Corn Fund (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 3,932,723 | $ 2,182,141 |
Percentage of net assets | 5.64% | 2.69% |
Notional amount, liability | $ 48,774,225 | $ 81,015,700 |
Money Market Funds [Member] | ||
Cost | 105,660,004 | 120,047,840 |
Fair value | $ 105,660,004 | $ 120,047,840 |
Percentage of net assets | 38.04% | 38.16% |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.24% | 5.27% |
Cost | $ 22,987,077 | $ 39,325,186 |
Fair value | $ 22,987,077 | $ 39,325,186 |
Percentage of net assets | 8.28% | 12.50% |
Shares (in shares) | 22,987,077 | 39,325,186 |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 5.21% | 5.25% |
Cost | $ 82,672,927 | $ 80,722,654 |
Fair value | $ 82,672,927 | $ 80,722,654 |
Percentage of net assets | 29.76% | 25.66% |
Shares (in shares) | 82,672,927 | 80,722,654 |
Money Market Funds [Member] | Teucrium Corn Fund [Member] | ||
Cost | $ 20,890,251 | $ 26,573,542 |
Fair value | $ 20,890,251 | $ 26,573,542 |
Percentage of net assets | 29.95% | 32.79% |
Money Market Funds [Member] | Teucrium Corn Fund [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.24% | 5.27% |
Cost | $ 3,095,240 | $ 7,523,423 |
Fair value | $ 3,095,240 | $ 7,523,423 |
Percentage of net assets | 4.44% | 9.28% |
Shares (in shares) | 3,095,240 | 7,523,423 |
Money Market Funds [Member] | Teucrium Corn Fund [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 5.21% | 5.25% |
Cost | $ 17,795,011 | $ 19,050,119 |
Fair value | $ 17,795,011 | $ 19,050,119 |
Percentage of net assets | 25.51% | 23.51% |
Shares (in shares) | 17,795,011 | 19,050,119 |
Commercial Paper, One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.844% | 5.794% |
Cost | $ 2,465,045 | $ 4,979,416 |
Fair value | $ 2,491,261 | $ 4,993,666 |
Percentage of net assets | 0.90% | 1.59% |
Maturity date | Apr. 23, 2024 | Jan. 09, 2024 |
Principal amount | $ 2,500,000 | $ 5,000,000 |
Commercial Paper, One [Member] | Albemarle Corporation [Member] | ||
Index | 5.77% | |
Cost | $ 4,950,475 | |
Fair value | $ 4,998,428 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 03, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Campbell Soup Company [Member] | ||
Index | 5.601% | |
Cost | $ 4,955,696 | |
Fair value | $ 4,977,084 | |
Percentage of net assets | 1.79% | |
Maturity date | May 01, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Crown Castle Inc. [Member] | ||
Index | 5.53% | |
Cost | $ 9,945,600 | |
Fair value | $ 9,974,312 | |
Percentage of net assets | 3.59% | |
Maturity date | Apr. 18, 2024 | |
Principal amount | $ 10,000,000 | |
Commercial Paper, One [Member] | Glencore Funding LLC [Member] | ||
Index | 5.49% | |
Cost | $ 7,456,125 | |
Fair value | $ 7,483,125 | |
Percentage of net assets | 2.69% | |
Maturity date | Apr. 16, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, One [Member] | FMC Corporation [Member] | ||
Index | 5.755% | 5.816% |
Cost | $ 2,487,815 | $ 7,466,634 |
Fair value | $ 2,491,746 | $ 7,478,550 |
Percentage of net assets | 0.90% | 2.38% |
Maturity date | Apr. 22, 2024 | Jan. 19, 2024 |
Principal amount | $ 2,500,000 | $ 7,500,000 |
Commercial Paper, One [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.70% | 5.843% |
Cost | $ 2,482,111 | $ 4,949,066 |
Fair value | $ 2,490,278 | $ 4,993,634 |
Percentage of net assets | 0.90% | 1.59% |
Maturity date | Apr. 26, 2024 | Jan. 09, 2024 |
Principal amount | $ 2,500,000 | $ 5,000,000 |
Commercial Paper, One [Member] | Stanley Black & Decker, Inc. [Member] | ||
Index | 5.604% | 5.807% |
Cost | $ 4,987,734 | $ 7,437,063 |
Fair value | $ 4,997,700 | $ 7,475,063 |
Percentage of net assets | 1.80% | 2.38% |
Maturity date | Apr. 04, 2024 | Jan. 22, 2024 |
Principal amount | $ 5,000,000 | $ 7,500,000 |
Commercial Paper, One [Member] | VW Credit, Inc. [Member] | ||
Index | 5.511% | |
Cost | $ 9,865,000 | |
Fair value | $ 9,985,000 | |
Percentage of net assets | 3.59% | |
Maturity date | Apr. 11, 2024 | |
Principal amount | $ 10,000,000 | |
Commercial Paper, One [Member] | National Fuel Gas Company [Member] | ||
Index | 5.544% | 5.867% |
Cost | $ 7,476,113 | $ 4,960,800 |
Fair value | $ 7,496,588 | $ 4,994,400 |
Percentage of net assets | 2.70% | 1.59% |
Maturity date | Apr. 04, 2024 | Jan. 08, 2024 |
Principal amount | $ 7,500,000 | $ 5,000,000 |
Commercial Paper, One [Member] | WGL Holdings, Inc. [Member] | ||
Index | 5.616% | 5.793% |
Cost | $ 4,984,640 | $ 4,981,792 |
Fair value | $ 4,989,248 | $ 4,998,416 |
Percentage of net assets | 1.46% | 1.59% |
Maturity date | Apr. 15, 2024 | Jan. 03, 2024 |
Principal amount | $ 5,000,000 | $ 5,000,000 |
Commercial Paper, One [Member] | Oracle Corporation [Member] | ||
Index | 5.562% | |
Cost | $ 4,934,904 | |
Fair value | $ 4,950,799 | |
Percentage of net assets | 1.57% | |
Maturity date | Mar. 06, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | V.F. Corporation [Member] | ||
Index | 5.674% | |
Cost | $ 4,936,679 | |
Fair value | $ 4,987,645 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 17, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 6.028% | |
Cost | $ 7,950,009 | |
Fair value | $ 7,985,529 | |
Percentage of net assets | 2.54% | |
Maturity date | Jan. 12, 2024 | |
Principal amount | $ 8,000,000 | |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.71% | 5.794% |
Cost | $ 2,473,167 | $ 2,489,708 |
Fair value | $ 2,485,222 | $ 2,496,833 |
Percentage of net assets | 3.56% | 3.08% |
Maturity date | May 09, 2024 | Jan. 09, 2024 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | Albemarle Corporation [Member] | ||
Index | 5.77% | |
Cost | $ 4,950,475 | |
Fair value | $ 4,998,428 | |
Percentage of net assets | 6.17% | |
Maturity date | Jan. 03, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | Campbell Soup Company [Member] | ||
Index | 5.601% | |
Cost | $ 2,477,848 | |
Fair value | $ 2,488,542 | |
Percentage of net assets | 3.57% | |
Maturity date | May 01, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | Crown Castle Inc. [Member] | ||
Index | 5.53% | |
Cost | $ 4,972,800 | |
Fair value | $ 4,987,156 | |
Percentage of net assets | 7.15% | |
Maturity date | Apr. 18, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | Entergy Corporation [Member] | ||
Index | 5.665% | |
Cost | $ 2,467,625 | |
Fair value | $ 2,476,875 | |
Percentage of net assets | 3.06% | |
Maturity date | Mar. 01, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | Glencore Funding LLC [Member] | ||
Index | 5.49% | |
Cost | $ 2,485,375 | |
Fair value | $ 2,494,375 | |
Percentage of net assets | 3.58% | |
Maturity date | Apr. 16, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | FMC Corporation [Member] | ||
Index | 5.816% | |
Cost | $ 2,488,878 | |
Fair value | $ 2,492,850 | |
Percentage of net assets | 3.07% | |
Maturity date | Jan. 19, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.815% | 5.843% |
Cost | $ 2,471,896 | $ 2,474,533 |
Fair value | $ 2,482,188 | $ 2,496,817 |
Percentage of net assets | 3.56% | 3.08% |
Maturity date | May 16, 2024 | Jan. 09, 2024 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | Stanley Black & Decker, Inc. [Member] | ||
Index | 5.604% | |
Cost | $ 2,493,867 | |
Fair value | $ 2,498,850 | |
Percentage of net assets | 3.58% | |
Maturity date | Apr. 04, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | VW Credit, Inc. [Member] | ||
Index | 5.511% | |
Cost | $ 4,932,500 | |
Fair value | $ 4,992,500 | |
Percentage of net assets | 7.16% | |
Maturity date | Apr. 11, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | National Fuel Gas Company [Member] | ||
Index | 5.867% | |
Cost | $ 2,480,400 | |
Fair value | $ 2,497,200 | |
Percentage of net assets | 3.08% | |
Maturity date | Jan. 08, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | WGL Holdings, Inc. [Member] | ||
Index | 5.616% | 5.793% |
Cost | $ 2,492,320 | $ 2,490,896 |
Fair value | $ 2,494,624 | $ 2,499,208 |
Percentage of net assets | 3.58% | 3.08% |
Maturity date | Apr. 15, 2024 | Jan. 03, 2024 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | Oracle Corporation [Member] | ||
Index | 5.562% | |
Cost | $ 2,467,452 | |
Fair value | $ 2,475,400 | |
Percentage of net assets | 3.05% | |
Maturity date | Mar. 06, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | V.F. Corporation [Member] | ||
Index | 5.606% | |
Cost | $ 2,473,646 | |
Fair value | $ 2,493,507 | |
Percentage of net assets | 3.08% | |
Maturity date | Jan. 18, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, One [Member] | Teucrium Corn Fund [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 6.028% | |
Cost | $ 2,484,378 | |
Fair value | $ 2,495,478 | |
Percentage of net assets | 3.08% | |
Maturity date | Jan. 12, 2024 | |
Principal amount | $ 2,500,000 | |
CBOT Corn Futures SEP24 [Member] | Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | ||
Fair value | $ 154,412 | |
Percentage of net assets | 0.22% | |
Number of contracts | 901 | |
Notional amount, asset | $ 20,925,725 | |
CBOT Corn Futures JUL24 [Member] | Corn Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 2,021,501 | $ 384,407 |
Percentage of net assets | 0.73% | 0.12% |
Number of contracts | 1,072 | 983 |
Notional amount, liability | $ 24,361,200 | $ 24,280,100 |
CBOT Corn Futures JUL24 [Member] | Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 2,021,501 | $ 384,407 |
Percentage of net assets | 2.90% | 0.47% |
Number of contracts | 1,072 | 983 |
Notional amount, liability | $ 24,361,200 | $ 24,280,100 |
CBOT Corn Futures MAY24 [Member] | Corn Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 1,102,254 | |
Percentage of net assets | 0.35% | |
Number of contracts | 1,171 | |
Notional amount, liability | $ 28,338,200 | |
CBOT Corn Futures MAY24 [Member] | Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 1,102,254 | |
Percentage of net assets | 1.36% | |
Number of contracts | 1,171 | |
Notional amount, liability | $ 28,338,200 | |
Commercial Paper, Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.834% | 5.853% |
Cost | $ 2,465,106 | $ 4,933,150 |
Fair value | $ 2,485,725 | $ 4,988,062 |
Percentage of net assets | 0.89% | 1.59% |
Maturity date | May 07, 2024 | Jan. 16, 2024 |
Principal amount | $ 2,500,000 | $ 5,000,000 |
Commercial Paper, Two [Member] | Albemarle Corporation [Member] | ||
Index | 5.753% | |
Cost | $ 4,960,764 | |
Fair value | $ 4,997,646 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 04, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | Glencore Funding LLC [Member] | ||
Index | 5.493% | |
Cost | $ 4,964,750 | |
Fair value | $ 4,978,250 | |
Percentage of net assets | 1.79% | |
Maturity date | Apr. 30, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.815% | 5.867% |
Cost | $ 4,943,792 | $ 7,441,200 |
Fair value | $ 4,964,376 | $ 7,462,800 |
Percentage of net assets | 1.79% | 2.37% |
Maturity date | May 16, 2024 | Feb. 01, 2024 |
Principal amount | $ 5,000,000 | $ 7,500,000 |
Commercial Paper, Two [Member] | VW Credit, Inc. [Member] | ||
Index | 5.402% | |
Cost | $ 4,943,320 | |
Fair value | $ 4,966,876 | |
Percentage of net assets | 1.45% | |
Maturity date | May 16, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | National Fuel Gas Company [Member] | ||
Index | 5.941% | |
Cost | $ 2,478,948 | |
Fair value | $ 2,489,879 | |
Percentage of net assets | 0.79% | |
Maturity date | Jan. 26, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Two [Member] | WGL Holdings, Inc. [Member] | ||
Index | 5.849% | |
Cost | $ 7,461,666 | |
Fair value | $ 7,486,824 | |
Percentage of net assets | 2.38% | |
Maturity date | Jan. 12, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, Two [Member] | V.F. Corporation [Member] | ||
Index | 5.606% | |
Cost | $ 4,947,292 | |
Fair value | $ 4,987,014 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 18, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | Teucrium Corn Fund [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.782% | 5.853% |
Cost | $ 2,464,625 | $ 2,466,575 |
Fair value | $ 2,483,098 | $ 2,494,031 |
Percentage of net assets | 3.56% | 3.08% |
Maturity date | May 14, 2024 | Jan. 16, 2024 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Commercial Paper, Two [Member] | Teucrium Corn Fund [Member] | Albemarle Corporation [Member] | ||
Index | 5.808% | |
Cost | $ 2,478,230 | |
Fair value | $ 2,496,042 | |
Percentage of net assets | 3.08% | |
Maturity date | Jan. 11, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Two [Member] | Teucrium Corn Fund [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.867% | |
Cost | $ 2,480,400 | |
Fair value | $ 2,487,600 | |
Percentage of net assets | 3.07% | |
Maturity date | Feb. 01, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Two [Member] | Teucrium Corn Fund [Member] | VW Credit, Inc. [Member] | ||
Index | 5.402% | |
Cost | $ 2,471,660 | |
Fair value | $ 2,483,438 | |
Percentage of net assets | 3.56% | |
Maturity date | May 16, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Two [Member] | Teucrium Corn Fund [Member] | WGL Holdings, Inc. [Member] | ||
Index | 5.849% | |
Cost | $ 2,487,222 | |
Fair value | $ 2,495,608 | |
Percentage of net assets | 3.08% | |
Maturity date | Jan. 12, 2024 | |
Principal amount | $ 2,500,000 | |
CBOT Wheat Futures DEC24 [Member] | Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 1,911,222 | $ 695,480 |
Percentage of net assets | 2.74% | 0.86% |
Number of contracts | 1,022 | 1,128 |
Notional amount, liability | $ 24,413,025 | $ 28,397,400 |
Commercial Paper, Three [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.71% | 5.814% |
Cost | $ 4,946,334 | $ 3,032,227 |
Fair value | $ 4,970,444 | $ 3,040,948 |
Percentage of net assets | 1.79% | 0.97% |
Maturity date | May 09, 2024 | Jan. 30, 2024 |
Principal amount | $ 5,000,000 | $ 3,055,000 |
Commercial Paper, Three [Member] | Albemarle Corporation [Member] | ||
Index | 5.738% | |
Cost | $ 4,952,302 | |
Fair value | $ 4,994,526 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 08, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Three [Member] | Glencore Funding LLC [Member] | ||
Index | 5.475% | |
Cost | $ 7,440,597 | |
Fair value | $ 7,456,287 | |
Percentage of net assets | 2.68% | |
Maturity date | May 10, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, Three [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.927% | |
Cost | $ 7,421,323 | |
Fair value | $ 7,446,741 | |
Percentage of net assets | 2.37% | |
Maturity date | Feb. 14, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, Three [Member] | V.F. Corporation [Member] | ||
Index | 5.91% | |
Cost | $ 4,928,362 | |
Fair value | $ 4,950,783 | |
Percentage of net assets | 1.57% | |
Maturity date | Jan. 25, 2024 | |
Principal amount | $ 4,970,000 | |
Commercial Paper, Three [Member] | Teucrium Corn Fund [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.772% | |
Cost | $ 2,464,688 | |
Fair value | $ 2,482,344 | |
Percentage of net assets | 3.56% | |
Maturity date | May 16, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Three [Member] | Teucrium Corn Fund [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.927% | |
Cost | $ 2,473,774 | |
Fair value | $ 2,482,247 | |
Percentage of net assets | 3.06% | |
Maturity date | Feb. 14, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | ||
Cost | 117,915,162 | 142,223,286 |
Fair value | $ 118,502,058 | $ 143,041,466 |
Percentage of net assets | 41.97% | 45.50% |
Commercial Paper [Member] | Entergy Corporation [Member] | ||
Index | 5.665% | |
Cost | $ 7,402,875 | |
Fair value | $ 7,430,625 | |
Percentage of net assets | 2.36% | |
Maturity date | Mar. 01, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Teucrium Corn Fund [Member] | ||
Cost | $ 32,200,746 | 39,654,192 |
Fair value | $ 32,372,337 | $ 39,878,124 |
Percentage of net assets | 46.42% | 49.20% |
Cash and Cash Equivalents [Member] | ||
Fair value | $ 224,162,062 | $ 263,089,306 |
Percentage of net assets | 80.01% | 83.66% |
Cash and Cash Equivalents [Member] | Teucrium Corn Fund [Member] | ||
Fair value | $ 53,262,588 | $ 66,451,666 |
Percentage of net assets | 76.37% | 81.99% |
Note 1 - Organization and Op_15
Note 1 - Organization and Operation - Teucrium Corn Fund (Details Textual) | 3 Months Ended | ||
Jun. 08, 2010 USD ($) shares | Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) shares | |
Stock Issued During Period, Value, New Issues | $ | $ 13,002,447 | $ 17,208,235 | |
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 | 125,000 | 75,000 |
Stock Issued During Period, Value, New Issues | $ | $ 5,000,000 | $ 2,436,790 | $ 1,991,168 |
Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | |||
Derivative, Number of Instruments Held, Total | 3 |
Note 1 - Organization and Op_16
Note 1 - Organization and Operation - Benchmark - Teucrium Corn Fund (Details) - Teucrium Corn Fund [Member] | Mar. 31, 2024 |
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) | 3 Months Ended |
Mar. 31, 2024 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 |
Note 2 - Principal Contracts_18
Note 2 - Principal Contracts and Agreements - Summary of Expenses - Teucrium Corn Fund (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Amount Recognized for Custody Services | $ 95,024 | $ 120,560 |
Amount Recognized for Distribution Services | 947,591 | 927,712 |
Amount Recognized for Wilmington Trust | 56,338 | 34,617 |
Related Party [Member] | ||
Amount Waived | 25,585 | 23,865 |
Teucrium Corn Fund [Member] | ||
Amount Recognized for Custody Services | 21,972 | 33,044 |
Amount Recognized for Distribution Services | 205,464 | 239,078 |
Amount Recognized for Wilmington Trust | 7,130 | 6,578 |
Teucrium Corn Fund [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Custody Services [Member] | Related Party [Member] | ||
Amount Recognized for Custody Services | 93,105 | 120,560 |
Amount Waived | 3,615 | 7,329 |
Custody Services [Member] | Teucrium Corn Fund [Member] | Related Party [Member] | ||
Amount Recognized for Custody Services | 21,972 | 33,044 |
Amount Waived | 0 | 0 |
Distribution Services [Member] | Related Party [Member] | ||
Amount Waived | 1,527 | 2,322 |
Amount Recognized for Distribution Services | 36,539 | 38,765 |
Distribution Services [Member] | Teucrium Corn Fund [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Distribution Services | 8,128 | 10,053 |
Wilmington Trust Company [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Wilmington Trust | 0 | 0 |
Wilmington Trust Company [Member] | Teucrium Corn Fund [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Wilmington Trust | $ 0 | $ 0 |
Note 3 - Summary of Signific_20
Note 3 - Summary of Significant Accounting Policies - Teucrium Corn Fund (Details Textual) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Open Tax Year | 2021 2022 2023 | ||||
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | |||
Teucrium Corn Fund [Member] | |||||
Open Tax Year | 2021 2022 2023 | ||||
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | |||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | ||||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 25,000 | ||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | ||||
Minimum Number of RedemptionBaskets | 2 | ||||
Teucrium 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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Brokerage Commissions | $ 31,644 | $ 52,020 |
Teucrium Corn Fund [Member] | ||
Brokerage Commissions | $ 9,706 | $ 17,270 |
Note 3 - Summary of Signific_22
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents - Teucrium Corn Fund (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Money Market Funds | $ 105,660,004 | $ 120,047,840 |
Demand Deposit Savings Accounts | 29,533,538 | 29,148,056 |
Commercial Paper | 118,502,058 | 143,041,466 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | 253,695,600 | 292,237,362 |
Teucrium Corn Fund [Member] | ||
Money Market Funds | 20,890,251 | 26,573,542 |
Demand Deposit Savings Accounts | 10,429,941 | 10,293,805 |
Commercial Paper | 32,372,337 | 39,878,124 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 63,692,529 | $ 76,745,471 |
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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Recognized Related Party Transactions | $ 614,406 | $ 591,603 |
Waived Related Party Transactions | 25,585 | 23,865 |
Teucrium Corn Fund [Member] | ||
Recognized Related Party Transactions | 136,525 | 154,915 |
Waived Related Party Transactions | $ 0 | $ 0 |
Note 4 - Fair Value Measurem_16
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Corn Fund (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Cash Equivalents | $ 224,162,062 | $ 263,089,306 |
Total | 225,829,780 | 265,456,318 |
Derivative Liability | 18,352,042 | 10,888,842 |
Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 154,412 | |
Derivative Liability | 3,932,723 | 2,182,141 |
Teucrium Corn Fund [Member] | ||
Cash Equivalents | 53,262,588 | 66,451,666 |
Total | 53,417,000 | |
Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 154,412 | |
Derivative Liability | 3,932,723 | 2,182,141 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 224,162,062 | 263,089,306 |
Total | 225,829,780 | 265,456,318 |
Derivative Liability | 18,352,042 | 10,888,842 |
Fair Value, Inputs, Level 1 [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 154,412 | |
Derivative Liability | 3,932,723 | 2,182,141 |
Fair Value, Inputs, Level 1 [Member] | Teucrium Corn Fund [Member] | ||
Cash Equivalents | 53,262,588 | 66,451,666 |
Total | 53,417,000 | |
Fair Value, Inputs, Level 1 [Member] | Teucrium Corn Fund [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 154,412 | |
Derivative Liability | 3,932,723 | 2,182,141 |
Fair Value, Inputs, Level 2 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Derivative Liability | 0 | 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 | |
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Corn Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Derivative Liability | 0 | 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 | |
Derivative Liability | $ 0 | $ 0 |
Note 5 - Derivative Instrume_16
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Corn Fund (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Derivative, Average Notional Amount | $ 277.8 | $ 382.3 |
Teucrium Corn Fund [Member] | ||
Derivative, Average Notional Amount | $ 69.4 | $ 126.4 |
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 ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Derivative liabilities | $ 18,352,042 | $ 10,888,842 |
Corn Futures Contracts [Member] | ||
Gross amount of recognized assets | 154,412 | |
Gross amount offset, assets | 0 | |
Derivative asset | 154,412 | |
Available for offset, assets | 154,412 | |
Collateral, due to broker, assets | 0 | |
Net amount, assets | 0 | |
Gross amount of recognized liabilities | 3,932,723 | 2,182,141 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 3,932,723 | 2,182,141 |
Futures contracts available for offset, liabilities | 154,412 | 0 |
Collateral, due from broker, liabilities | 3,778,311 | 2,182,141 |
Net amount, liabilities | 0 | 0 |
Corn Futures Contracts [Member] | Teucrium Corn Fund [Member] | ||
Gross amount of recognized assets | 154,412 | |
Gross amount offset, assets | 0 | |
Derivative asset | 154,412 | |
Available for offset, assets | 154,412 | |
Collateral, due to broker, assets | 0 | |
Net amount, assets | 0 | |
Gross amount of recognized liabilities | 3,932,723 | 2,182,141 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 3,932,723 | 2,182,141 |
Futures contracts available for offset, liabilities | 154,412 | 0 |
Collateral, due from broker, liabilities | 3,778,311 | 2,182,141 |
Net amount, liabilities | $ 0 | $ 0 |
Note 5 - Derivative Instrume_18
Note 5 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) on Derivative Instruments - Teucrium Corn Fund (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Realized Gain on Commodity Futures Contracts | $ (17,194,951) | $ (26,591,126) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (7,969,968) | (5,823,279) |
Teucrium Corn Fund [Member] | ||
Realized Gain on Commodity Futures Contracts | (3,964,335) | (6,268,935) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (1,596,170) | (3,299,360) |
Corn Futures Contracts [Member] | ||
Realized Gain on Commodity Futures Contracts | (3,964,335) | (6,268,935) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (1,596,170) | (3,299,360) |
Corn Futures Contracts [Member] | Teucrium Corn Fund [Member] | ||
Realized Gain on Commodity Futures Contracts | (3,964,335) | (6,268,935) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ (1,596,170) | $ (3,299,360) |
Note 6 - Financial Highlight_11
Note 6 - Financial Highlights - Schedule of Per Share Performance Data and Other Supplemental Financial Data - Teucrium Corn Fund (Details) - $ / shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Income from investment operations: | ||
Interest income (in dollars per share) | $ 0.17 | $ 0.11 |
Teucrium Corn Fund [Member] | ||
Net asset value per share at beginning of period (in dollars per share) | 21.61 | 26.9 |
Income from investment operations: | ||
Interest income (in dollars per share) | 0.27 | 0.28 |
Net realized and unrealized loss on commodity futures contracts (in dollars per share) | (1.53) | (1.77) |
Total expenses, net (in dollars per share) | (0.13) | (0.14) |
Net (decrease) increase in net asset value (in dollars per share) | (1.39) | (1.63) |
Net asset value per share at end of period (in dollars per share) | $ 20.22 | $ 25.27 |
Total Return | (6.47%) | (6.03%) |
Ratios to Average Net Assets (Annualized) | ||
Total expenses | 2.72% | 2.13% |
Total expenses, net | 2.72% | 2.13% |
Net investment income | 2.60% | 2.29% |
Schedule of Investments (Una_14
Schedule of Investments (Unaudited) - Investments - Teucrium Soybean Fund (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Money Market Funds [Member] | ||
Cost | $ 105,660,004 | $ 120,047,840 |
Fair value | $ 105,660,004 | $ 120,047,840 |
Percentage of net assets | 38.04% | 38.16% |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.24% | 5.27% |
Cost | $ 22,987,077 | $ 39,325,186 |
Fair value | $ 22,987,077 | $ 39,325,186 |
Percentage of net assets | 8.28% | 12.50% |
Shares (in shares) | 22,987,077 | 39,325,186 |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 5.21% | 5.25% |
Cost | $ 82,672,927 | $ 80,722,654 |
Fair value | $ 82,672,927 | $ 80,722,654 |
Percentage of net assets | 29.76% | 25.66% |
Shares (in shares) | 82,672,927 | 80,722,654 |
Commercial Paper [Member] | ||
Cost | $ 117,915,162 | $ 142,223,286 |
Fair value | $ 118,502,058 | $ 143,041,466 |
Percentage of net assets | 41.97% | 45.50% |
Commercial Paper, One [Member] | FMC Corporation [Member] | ||
Index | 5.755% | 5.816% |
Cost | $ 2,487,815 | $ 7,466,634 |
Fair value | $ 2,491,746 | $ 7,478,550 |
Percentage of net assets | 0.90% | 2.38% |
Maturity date | Apr. 22, 2024 | Jan. 19, 2024 |
Principal amount | $ 2,500,000 | $ 7,500,000 |
Commercial Paper, One [Member] | Albemarle Corporation [Member] | ||
Index | 5.77% | |
Cost | $ 4,950,475 | |
Fair value | $ 4,998,428 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 03, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.511% | 5.617% |
Cost | $ 4,932,500 | $ 7,420,795 |
Fair value | $ 4,983,500 | $ 7,480,486 |
Percentage of net assets | 1.79% | 2.38% |
Maturity date | Apr. 23, 2024 | Jan. 18, 2024 |
Principal amount | $ 5,000,000 | $ 7,500,000 |
Commercial Paper, One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.844% | 5.794% |
Cost | $ 2,465,045 | $ 4,979,416 |
Fair value | $ 2,491,261 | $ 4,993,666 |
Percentage of net assets | 0.90% | 1.59% |
Maturity date | Apr. 23, 2024 | Jan. 09, 2024 |
Principal amount | $ 2,500,000 | $ 5,000,000 |
Commercial Paper, One [Member] | Glencore Funding LLC [Member] | ||
Index | 5.49% | |
Cost | $ 7,456,125 | |
Fair value | $ 7,483,125 | |
Percentage of net assets | 2.69% | |
Maturity date | Apr. 16, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, One [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.70% | 5.843% |
Cost | $ 2,482,111 | $ 4,949,066 |
Fair value | $ 2,490,278 | $ 4,993,634 |
Percentage of net assets | 0.90% | 1.59% |
Maturity date | Apr. 26, 2024 | Jan. 09, 2024 |
Principal amount | $ 2,500,000 | $ 5,000,000 |
Commercial Paper, One [Member] | National Fuel Gas Company [Member] | ||
Index | 5.544% | 5.867% |
Cost | $ 7,476,113 | $ 4,960,800 |
Fair value | $ 7,496,588 | $ 4,994,400 |
Percentage of net assets | 2.70% | 1.59% |
Maturity date | Apr. 04, 2024 | Jan. 08, 2024 |
Principal amount | $ 7,500,000 | $ 5,000,000 |
Commercial Paper, One [Member] | Stanley Black & Decker, Inc. [Member] | ||
Index | 5.604% | 5.807% |
Cost | $ 4,987,734 | $ 7,437,063 |
Fair value | $ 4,997,700 | $ 7,475,063 |
Percentage of net assets | 1.80% | 2.38% |
Maturity date | Apr. 04, 2024 | Jan. 22, 2024 |
Principal amount | $ 5,000,000 | $ 7,500,000 |
Commercial Paper, One [Member] | WGL Holdings, Inc. [Member] | ||
Index | 5.616% | 5.793% |
Cost | $ 4,984,640 | $ 4,981,792 |
Fair value | $ 4,989,248 | $ 4,998,416 |
Percentage of net assets | 1.46% | 1.59% |
Maturity date | Apr. 15, 2024 | Jan. 03, 2024 |
Principal amount | $ 5,000,000 | $ 5,000,000 |
Commercial Paper, Two [Member] | Albemarle Corporation [Member] | ||
Index | 5.753% | |
Cost | $ 4,960,764 | |
Fair value | $ 4,997,646 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 04, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.408% | 5.661% |
Cost | $ 3,465,928 | $ 4,941,417 |
Fair value | $ 3,485,545 | $ 4,982,271 |
Percentage of net assets | 1.25% | 1.58% |
Maturity date | Apr. 29, 2024 | Jan. 24, 2024 |
Principal amount | $ 3,500,000 | $ 5,000,000 |
Commercial Paper, Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.834% | 5.853% |
Cost | $ 2,465,106 | $ 4,933,150 |
Fair value | $ 2,485,725 | $ 4,988,062 |
Percentage of net assets | 0.89% | 1.59% |
Maturity date | May 07, 2024 | Jan. 16, 2024 |
Principal amount | $ 2,500,000 | $ 5,000,000 |
Commercial Paper, Two [Member] | Glencore Funding LLC [Member] | ||
Index | 5.493% | |
Cost | $ 4,964,750 | |
Fair value | $ 4,978,250 | |
Percentage of net assets | 1.79% | |
Maturity date | Apr. 30, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.815% | 5.867% |
Cost | $ 4,943,792 | $ 7,441,200 |
Fair value | $ 4,964,376 | $ 7,462,800 |
Percentage of net assets | 1.79% | 2.37% |
Maturity date | May 16, 2024 | Feb. 01, 2024 |
Principal amount | $ 5,000,000 | $ 7,500,000 |
Commercial Paper, Two [Member] | National Fuel Gas Company [Member] | ||
Index | 5.941% | |
Cost | $ 2,478,948 | |
Fair value | $ 2,489,879 | |
Percentage of net assets | 0.79% | |
Maturity date | Jan. 26, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Two [Member] | WGL Holdings, Inc. [Member] | ||
Index | 5.849% | |
Cost | $ 7,461,666 | |
Fair value | $ 7,486,824 | |
Percentage of net assets | 2.38% | |
Maturity date | Jan. 12, 2024 | |
Principal amount | $ 7,500,000 | |
Cash and Cash Equivalents [Member] | ||
Fair value | $ 224,162,062 | $ 263,089,306 |
Percentage of net assets | 80.01% | 83.66% |
Soybean Futures Contracts [Member] | Liability [Member] | CBOT Soybean Futures MAR24 [Member] | ||
Fair value | $ 617,118 | |
Percentage of net assets | 0.20% | |
Number of contracts | 156 | |
Notional amount, liability | $ 10,124,400 | |
Soybean Futures Contracts [Member] | Liability [Member] | CBOT Soybean Futures JUL24 [Member] | ||
Fair value | $ 308,999 | |
Percentage of net assets | 0.11% | |
Number of contracts | 197 | |
Notional amount, liability | $ 11,871,713 | |
Soybean Futures Contracts [Member] | Liability [Member] | CBOT Soybean Futures MAY24 [Member] | ||
Fair value | $ 633,749 | |
Percentage of net assets | 0.20% | |
Number of contracts | 133 | |
Notional amount, liability | $ 8,693,213 | |
Soybean Futures Contracts [Member] | Liability [Member] | CBOT Soybean Futures NOV24 [Member] | ||
Fair value | $ 478,846 | $ 140,794 |
Percentage of net assets | 0.17% | 0.04% |
Number of contracts | 172 | 164 |
Notional amount, liability | $ 10,201,750 | $ 10,215,150 |
Soybean Futures Contracts [Member] | Liability [Member] | CBOT Soybean Futures NOV25 [Member] | ||
Fair value | $ 7,131 | |
Percentage of net assets | 0% | |
Number of contracts | 204 | |
Notional amount, liability | $ 11,860,050 | |
Teucrium Soybean Fund [Member] | Money Market Funds [Member] | ||
Cost | 12,228,166 | 7,746,099 |
Fair value | $ 12,228,166 | $ 7,746,099 |
Percentage of net assets | 36% | 26.66% |
Teucrium Soybean Fund [Member] | Money Market Funds [Member] | First American Government Obligations Fund - Class X [Member] | ||
Index | 5.24% | |
Cost | $ 7,780,493 | |
Fair value | $ 7,780,493 | |
Percentage of net assets | 22.91% | |
Shares (in shares) | 7,780,493 | |
Teucrium Soybean Fund [Member] | Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.27% | |
Cost | $ 1,075,007 | |
Fair value | $ 1,075,007 | |
Percentage of net assets | 3.70% | |
Shares (in shares) | 1,075,007 | |
Teucrium Soybean Fund [Member] | Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 5.21% | 5.25% |
Cost | $ 4,447,673 | $ 6,671,092 |
Fair value | $ 4,447,673 | $ 6,671,092 |
Percentage of net assets | 13.09% | 22.96% |
Shares (in shares) | 4,447,673 | 6,671,092 |
Teucrium Soybean Fund [Member] | Commercial Paper [Member] | ||
Cost | $ 14,911,957 | $ 14,901,380 |
Fair value | $ 14,953,688 | $ 14,961,842 |
Percentage of net assets | 44.04% | 51.49% |
Teucrium Soybean Fund [Member] | Commercial Paper [Member] | FMC Corporation [Member] | ||
Index | 5.755% | 5.816% |
Cost | $ 2,487,815 | $ 2,488,878 |
Fair value | $ 2,491,746 | $ 2,492,850 |
Percentage of net assets | 7.34% | 8.58% |
Maturity date | Apr. 22, 2024 | Jan. 19, 2024 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Teucrium Soybean Fund [Member] | Commercial Paper [Member] | Albemarle Corporation [Member] | ||
Index | 5.738% | |
Cost | $ 2,476,151 | |
Fair value | $ 2,497,263 | |
Percentage of net assets | 8.59% | |
Maturity date | Jan. 08, 2024 | |
Principal amount | $ 2,500,000 | |
Teucrium Soybean Fund [Member] | Commercial Paper [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.408% | |
Cost | $ 2,475,663 | |
Fair value | $ 2,489,675 | |
Percentage of net assets | 7.33% | |
Maturity date | Apr. 29, 2024 | |
Principal amount | $ 2,500,000 | |
Teucrium Soybean Fund [Member] | Commercial Paper [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.794% | |
Cost | $ 2,489,708 | |
Fair value | $ 2,496,833 | |
Percentage of net assets | 8.59% | |
Maturity date | Jan. 09, 2024 | |
Principal amount | $ 2,500,000 | |
Teucrium Soybean Fund [Member] | Commercial Paper [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.867% | |
Cost | $ 2,480,400 | |
Fair value | $ 2,487,600 | |
Percentage of net assets | 8.56% | |
Maturity date | Feb. 01, 2024 | |
Principal amount | $ 2,500,000 | |
Teucrium Soybean Fund [Member] | Commercial Paper [Member] | Stanley Black & Decker, Inc. [Member] | ||
Index | 5.604% | 5.807% |
Cost | $ 2,493,867 | $ 2,479,021 |
Fair value | $ 2,498,850 | $ 2,491,688 |
Percentage of net assets | 7.36% | 8.58% |
Maturity date | Apr. 04, 2024 | Jan. 22, 2024 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Teucrium Soybean Fund [Member] | Commercial Paper [Member] | WGL Holdings, Inc. [Member] | ||
Index | 5.849% | |
Cost | $ 2,487,222 | |
Fair value | $ 2,495,608 | |
Percentage of net assets | 8.59% | |
Maturity date | Jan. 12, 2024 | |
Principal amount | $ 2,500,000 | |
Teucrium Soybean Fund [Member] | Commercial Paper, One [Member] | Glencore Funding LLC [Member] | ||
Index | 5.493% | |
Cost | $ 2,482,375 | |
Fair value | $ 2,489,125 | |
Percentage of net assets | 7.33% | |
Maturity date | Apr. 30, 2024 | |
Principal amount | $ 2,500,000 | |
Teucrium Soybean Fund [Member] | Commercial Paper, One [Member] | National Fuel Gas Company [Member] | ||
Index | 5.544% | |
Cost | $ 2,492,038 | |
Fair value | $ 2,498,863 | |
Percentage of net assets | 7.36% | |
Maturity date | Apr. 04, 2024 | |
Principal amount | $ 2,500,000 | |
Teucrium Soybean Fund [Member] | Commercial Paper, Two [Member] | Glencore Funding LLC [Member] | ||
Index | 5.475% | |
Cost | $ 2,480,199 | |
Fair value | $ 2,485,429 | |
Percentage of net assets | 7.32% | |
Maturity date | May 10, 2024 | |
Principal amount | $ 2,500,000 | |
Teucrium Soybean Fund [Member] | Cash and Cash Equivalents [Member] | ||
Fair value | $ 27,181,854 | $ 22,707,941 |
Percentage of net assets | 80.04% | 78.15% |
Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 794,976 | $ 1,391,661 |
Percentage of net assets | 2.34% | 4.78% |
Number of contracts | ||
Notional amount, liability | $ 33,933,513 | $ 29,032,763 |
Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | Liability [Member] | CBOT Soybean Futures MAR24 [Member] | ||
Fair value | $ 617,118 | |
Percentage of net assets | 2.12% | |
Number of contracts | 156 | |
Notional amount, liability | $ 10,124,400 | |
Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | Liability [Member] | CBOT Soybean Futures JUL24 [Member] | ||
Fair value | $ 308,999 | |
Percentage of net assets | 0.91% | |
Number of contracts | 197 | |
Notional amount, liability | $ 11,871,713 | |
Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | Liability [Member] | CBOT Soybean Futures MAY24 [Member] | ||
Fair value | $ 633,749 | |
Percentage of net assets | 2.18% | |
Number of contracts | 133 | |
Notional amount, liability | $ 8,693,213 | |
Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | Liability [Member] | CBOT Soybean Futures NOV24 [Member] | ||
Fair value | $ 478,846 | $ 140,794 |
Percentage of net assets | 1.41% | 0.48% |
Number of contracts | 172 | 164 |
Notional amount, liability | $ 10,201,750 | $ 10,215,150 |
Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | Liability [Member] | CBOT Soybean Futures NOV25 [Member] | ||
Fair value | $ 7,131 | |
Percentage of net assets | 0.02% | |
Number of contracts | 204 | |
Notional amount, liability | $ 11,860,050 |
Note 1 - Organization and Op_17
Note 1 - Organization and Operation - Teucrium Soybean Fund (Details Textual) | 3 Months Ended | ||
Sep. 16, 2011 USD ($) shares | Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) shares | |
Stock Issued During Period, Value, New Issues | $ | $ 13,002,447 | $ 17,208,235 | |
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 | 325,000 | 125,000 |
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 8,094,215 | $ 3,526,043 |
Note 1 - Organization and Op_18
Note 1 - Organization and Operation - Benchmark - Teucrium Soybean Fund (Details) - Teucrium Soybean Fund [Member] | Mar. 31, 2024 |
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) | 3 Months Ended |
Mar. 31, 2024 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 |
Note 2 - Principal Contracts_20
Note 2 - Principal Contracts and Agreements - Summary of Expenses - Teucrium Soybean Fund (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Amount Recognized for Custody Services | $ 95,024 | $ 120,560 |
Amount Recognized for Distribution Services | 947,591 | 927,712 |
Amount Recognized for Wilmington Trust | 56,338 | 34,617 |
Related Party [Member] | ||
Amount Waived | 25,585 | 23,865 |
Teucrium Soybean Fund [Member] | ||
Amount Recognized for Custody Services | 8,486 | 3,441 |
Amount Recognized for Distribution Services | 100,750 | 69,185 |
Amount Recognized for Wilmington Trust | 6,269 | 2,294 |
Teucrium Soybean Fund [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Custody Services [Member] | Related Party [Member] | ||
Amount Recognized for Custody Services | 93,105 | 120,560 |
Amount Waived | 3,615 | 7,329 |
Custody Services [Member] | Teucrium Soybean Fund [Member] | Related Party [Member] | ||
Amount Recognized for Custody Services | 8,486 | 3,441 |
Amount Waived | 0 | 0 |
Distribution Services [Member] | Related Party [Member] | ||
Amount Waived | 1,527 | 2,322 |
Amount Recognized for Distribution Services | 36,539 | 38,765 |
Distribution Services [Member] | Teucrium Soybean Fund [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Distribution Services | 3,063 | 3,266 |
Wilmington Trust Company [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Wilmington Trust | 0 | 0 |
Wilmington Trust Company [Member] | Teucrium Soybean Fund [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Wilmington Trust | $ 0 | $ 0 |
Note 3 - Summary of Signific_24
Note 3 - Summary of Significant Accounting Policies - Teucrium Soybean Fund (Details Textual) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Open Tax Year | 2021 2022 2023 | ||||
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | |||
Teucrium Soybean Fund [Member] | |||||
Open Tax Year | 2021 2022 2023 | ||||
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | |||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | ||||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 25,000 | ||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | ||||
Minimum Number of RedemptionBaskets | 2 | ||||
Teucrium Soybean Fund [Member] | Teucrium Trading, LLC [Member] | |||||
Management Fee, Percentage of Average Daily Net Assets | 1% |
Note 3 - Summary of Signific_25
Note 3 - Summary of Significant Accounting Policies - Total Brokerage Commissions Paid - Teucrium Soybean Fund (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Brokerage Commissions | $ 31,644 | $ 52,020 |
Teucrium Soybean Fund [Member] | ||
Brokerage Commissions | $ 4,158 | $ 6,340 |
Note 3 - Summary of Signific_26
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents - Teucrium Soybean Fund (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Money Market Funds | $ 105,660,004 | $ 120,047,840 |
Demand Deposit Savings Accounts | 29,533,538 | 29,148,056 |
Commercial Paper | 118,502,058 | 143,041,466 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | 253,695,600 | 292,237,362 |
Teucrium Soybean Fund [Member] | ||
Money Market Funds | 12,228,166 | 7,746,099 |
Demand Deposit Savings Accounts | 5,470,653 | 5,399,248 |
Commercial Paper | 14,953,688 | 14,961,842 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 32,652,507 | $ 28,107,189 |
Note 3 - Summary of Signific_27
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions - Teucrium Soybean Fund (Details) - Related Party [Member] - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Recognized Related Party Transactions | $ 614,406 | $ 591,603 |
Waived Related Party Transactions | 25,585 | 23,865 |
Teucrium Soybean Fund [Member] | ||
Recognized Related Party Transactions | 51,460 | 50,267 |
Waived Related Party Transactions | $ 0 | $ 0 |
Note 4 - Fair Value Measurem_17
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Soybean Fund (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Cash Equivalents | $ 224,162,062 | $ 263,089,306 |
Derivative Liability | 18,352,042 | 10,888,842 |
Soybean Futures Contracts [Member] | ||
Derivative Liability | 794,976 | 1,391,661 |
Teucrium Soybean Fund [Member] | ||
Cash Equivalents | 27,181,854 | 22,707,941 |
Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Derivative Liability | 794,976 | 1,391,661 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 224,162,062 | 263,089,306 |
Derivative Liability | 18,352,042 | 10,888,842 |
Fair Value, Inputs, Level 1 [Member] | Soybean Futures Contracts [Member] | ||
Derivative Liability | 794,976 | 1,391,661 |
Fair Value, Inputs, Level 1 [Member] | Teucrium Soybean Fund [Member] | ||
Cash Equivalents | 27,181,854 | 22,707,941 |
Fair Value, Inputs, Level 1 [Member] | Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Derivative Liability | 794,976 | 1,391,661 |
Fair Value, Inputs, Level 2 [Member] | ||
Cash Equivalents | 0 | 0 |
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Soybean Futures Contracts [Member] | ||
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Teucrium Soybean Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Cash Equivalents | 0 | 0 |
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Soybean Futures Contracts [Member] | ||
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Teucrium Soybean Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Teucrium Soybean Fund [Member] | Soybean Futures Contracts [Member] | ||
Derivative Liability | $ 0 | $ 0 |
Note 5 - Derivative Instrume_19
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Soybean Fund (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Derivative, Average Notional Amount | $ 277.8 | $ 382.3 |
Teucrium Soybean Fund [Member] | ||
Derivative, Average Notional Amount | $ 29.1 | $ 42.6 |
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 ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Derivative liabilities | $ 18,352,042 | $ 10,888,842 |
Soybean Futures Contracts [Member] | ||
Gross amount of recognized liabilities | 794,976 | 1,391,661 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 794,976 | 1,391,661 |
Futures contracts available for offset, liabilities | 0 | 0 |
Collateral, due from broker, liabilities | 794,976 | 1,391,661 |
Net amount, liabilities | 0 | 0 |
Soybean Futures Contracts [Member] | Teucrium Soybean Fund [Member] | ||
Gross amount of recognized liabilities | 794,976 | 1,391,661 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 794,976 | 1,391,661 |
Futures contracts available for offset, liabilities | 0 | 0 |
Collateral, due from broker, liabilities | 794,976 | 1,391,661 |
Net amount, liabilities | $ 0 | $ 0 |
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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Realized Gain on Commodity Futures Contracts | $ (17,194,951) | $ (26,591,126) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (7,969,968) | (5,823,279) |
Teucrium Soybean Fund [Member] | ||
Realized Gain on Commodity Futures Contracts | (2,632,854) | 1,067,543 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 596,685 | (3,699,642) |
Soybean Futures Contracts [Member] | ||
Realized Gain on Commodity Futures Contracts | (2,632,854) | 1,067,543 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 596,685 | (3,699,642) |
Soybean Futures Contracts [Member] | Teucrium Soybean Fund [Member] | ||
Realized Gain on Commodity Futures Contracts | (2,632,854) | 1,067,543 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ 596,685 | $ (3,699,642) |
Note 6 - Financial Highlight_12
Note 6 - Financial Highlights - Schedule of Per Share Performance Data and Other Supplemental Financial Data - Teucrium Soybean Fund (Details) - $ / shares | 3 Months Ended | ||
Jan. 01, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
Income from investment operations: | |||
Interest income (in dollars per share) | $ 0.17 | $ 0.11 | |
Teucrium Soybean Fund [Member] | |||
Net asset value per share at beginning of period (in dollars per share) | $ 28.5 | 27.03 | 28.5 |
Income from investment operations: | |||
Interest income (in dollars per share) | 0.31 | 0.34 | |
Net realized and unrealized loss on commodity futures contracts (in dollars per share) | (1.47) | (2) | |
Total expenses, net (in dollars per share) | (0.15) | (0.21) | |
Net (decrease) increase in net asset value (in dollars per share) | (1.31) | (1.87) | |
Net asset value per share at end of period (in dollars per share) | $ 27.19 | $ 25.16 | $ 27.19 |
Total Return | (4.61%) | (6.91%) | |
Ratios to Average Net Assets (Annualized) | |||
Total expenses | 2.18% | 3.28% | |
Total expenses, net | 2.18% | 3.28% | |
Net investment income | 2.28% | 2.10% |
Schedule of Investments (Una_15
Schedule of Investments (Unaudited) - Investments - Teucrium Sugar Fund (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Fair value | $ 814,401 | $ 2,687,998 |
Percentage of net assets | 4.93% | 15.17% |
Notional amount, asset | $ 16,538,794 | $ 17,717,515 |
Money Market Funds [Member] | ||
Cost | 105,660,004 | 120,047,840 |
Fair value | $ 105,660,004 | $ 120,047,840 |
Percentage of net assets | 38.04% | 38.16% |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.24% | 5.27% |
Cost | $ 22,987,077 | $ 39,325,186 |
Fair value | $ 22,987,077 | $ 39,325,186 |
Percentage of net assets | 8.28% | 12.50% |
Shares (in shares) | 22,987,077 | 39,325,186 |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 5.21% | 5.25% |
Cost | $ 82,672,927 | $ 80,722,654 |
Fair value | $ 82,672,927 | $ 80,722,654 |
Percentage of net assets | 29.76% | 25.66% |
Shares (in shares) | 82,672,927 | 80,722,654 |
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | ||
Cost | $ 4,050,986 | $ 3,033,238 |
Fair value | $ 4,050,986 | $ 3,033,238 |
Percentage of net assets | 24.50% | 17.12% |
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.24% | 5.27% |
Cost | $ 1,342,798 | $ 1,532,232 |
Fair value | $ 1,342,798 | $ 1,532,232 |
Percentage of net assets | 8.12% | 8.65% |
Shares (in shares) | 1,342,798 | 1,532,232 |
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 5.21% | 5.25% |
Cost | $ 2,708,188 | $ 1,501,006 |
Fair value | $ 2,708,188 | $ 1,501,006 |
Percentage of net assets | 16.38% | 8.47% |
Shares (in shares) | 2,708,188 | 1,501,006 |
Commercial Paper, One [Member] | The Cigna Group [Member] | ||
Index | 5.501% | |
Cost | $ 2,970,300 | |
Fair value | $ 2,998,200 | |
Percentage of net assets | 1.08% | |
Maturity date | Apr. 05, 2024 | |
Principal amount | $ 3,000,000 | |
Commercial Paper, One [Member] | Albemarle Corporation [Member] | ||
Index | 5.77% | |
Cost | $ 4,950,475 | |
Fair value | $ 4,998,428 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 03, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Campbell Soup Company [Member] | ||
Index | 5.601% | |
Cost | $ 4,955,696 | |
Fair value | $ 4,977,084 | |
Percentage of net assets | 1.79% | |
Maturity date | May 01, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.844% | 5.794% |
Cost | $ 2,465,045 | $ 4,979,416 |
Fair value | $ 2,491,261 | $ 4,993,666 |
Percentage of net assets | 0.90% | 1.59% |
Maturity date | Apr. 23, 2024 | Jan. 09, 2024 |
Principal amount | $ 2,500,000 | $ 5,000,000 |
Commercial Paper, One [Member] | Glencore Funding LLC [Member] | ||
Index | 5.49% | |
Cost | $ 7,456,125 | |
Fair value | $ 7,483,125 | |
Percentage of net assets | 2.69% | |
Maturity date | Apr. 16, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, One [Member] | FMC Corporation [Member] | ||
Index | 5.755% | 5.816% |
Cost | $ 2,487,815 | $ 7,466,634 |
Fair value | $ 2,491,746 | $ 7,478,550 |
Percentage of net assets | 0.90% | 2.38% |
Maturity date | Apr. 22, 2024 | Jan. 19, 2024 |
Principal amount | $ 2,500,000 | $ 7,500,000 |
Commercial Paper, One [Member] | National Fuel Gas Company [Member] | ||
Index | 5.544% | 5.867% |
Cost | $ 7,476,113 | $ 4,960,800 |
Fair value | $ 7,496,588 | $ 4,994,400 |
Percentage of net assets | 2.70% | 1.59% |
Maturity date | Apr. 04, 2024 | Jan. 08, 2024 |
Principal amount | $ 7,500,000 | $ 5,000,000 |
Commercial Paper, One [Member] | Teucrium Sugar Fund [Member] | The Cigna Group [Member] | ||
Index | 5.501% | |
Cost | $ 495,050 | |
Fair value | $ 499,700 | |
Percentage of net assets | 3.02% | |
Maturity date | Apr. 05, 2024 | |
Principal amount | $ 500,000 | |
Commercial Paper, One [Member] | Teucrium Sugar Fund [Member] | Campbell Soup Company [Member] | ||
Index | 5.601% | |
Cost | $ 2,477,848 | |
Fair value | $ 2,488,542 | |
Percentage of net assets | 15.06% | |
Maturity date | May 01, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, One [Member] | Teucrium Sugar Fund [Member] | Glencore Funding LLC [Member] | ||
Index | 5.49% | |
Cost | $ 2,485,375 | |
Fair value | $ 2,494,375 | |
Percentage of net assets | 15.09% | |
Maturity date | Apr. 16, 2024 | |
Principal amount | $ 2,500,000 | |
ICE Sugar Futures JUL24 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Fair value | $ 594,646 | $ 1,128,473 |
Percentage of net assets | 3.60% | 6.37% |
Number of contracts | 234 | 233 |
Notional amount, asset | $ 5,805,072 | $ 5,326,193 |
Commercial Paper [Member] | ||
Cost | 117,915,162 | 142,223,286 |
Fair value | $ 118,502,058 | $ 143,041,466 |
Percentage of net assets | 41.97% | 45.50% |
Commercial Paper [Member] | Entergy Corporation [Member] | ||
Index | 5.665% | |
Cost | $ 7,402,875 | |
Fair value | $ 7,430,625 | |
Percentage of net assets | 2.36% | |
Maturity date | Mar. 01, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Teucrium Sugar Fund [Member] | ||
Cost | $ 7,938,472 | 10,468,148 |
Fair value | $ 7,968,046 | $ 10,518,195 |
Percentage of net assets | 48.21% | 59.36% |
Commercial Paper [Member] | Teucrium Sugar Fund [Member] | Albemarle Corporation [Member] | ||
Index | 5.753% | |
Cost | $ 2,480,382 | |
Fair value | $ 2,498,823 | |
Percentage of net assets | 14.10% | |
Maturity date | Jan. 04, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Sugar Fund [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.814% | |
Cost | $ 550,863 | |
Fair value | $ 552,447 | |
Percentage of net assets | 3.12% | |
Maturity date | Jan. 30, 2024 | |
Principal amount | $ 555,000 | |
Commercial Paper [Member] | Teucrium Sugar Fund [Member] | Entergy Corporation [Member] | ||
Index | 5.665% | |
Cost | $ 2,467,625 | |
Fair value | $ 2,476,875 | |
Percentage of net assets | 13.98% | |
Maturity date | Mar. 01, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Sugar Fund [Member] | FMC Corporation [Member] | ||
Index | 5.816% | |
Cost | $ 2,488,878 | |
Fair value | $ 2,492,850 | |
Percentage of net assets | 14.07% | |
Maturity date | Jan. 19, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | Teucrium Sugar Fund [Member] | National Fuel Gas Company [Member] | ||
Index | 5.867% | |
Cost | $ 2,480,400 | |
Fair value | $ 2,497,200 | |
Percentage of net assets | 14.09% | |
Maturity date | Jan. 08, 2024 | |
Principal amount | $ 2,500,000 | |
ICE Sugar Futures MAY24 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Fair value | $ 1,051,261 | |
Percentage of net assets | 5.93% | |
Number of contracts | 270 | |
Notional amount, asset | $ 6,175,008 | |
ICE Sugar Futures OCT24 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Fair value | $ 83,984 | |
Percentage of net assets | 0.51% | |
Number of contracts | 201 | |
Notional amount, asset | $ 4,963,896 | |
ICE Sugar Futures MAR25 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Fair value | $ 135,771 | $ 508,264 |
Percentage of net assets | 0.82% | 2.87% |
Number of contracts | 233 | 268 |
Notional amount, asset | $ 5,769,826 | $ 6,216,314 |
Commercial Paper, Two [Member] | Albemarle Corporation [Member] | ||
Index | 5.753% | |
Cost | $ 4,960,764 | |
Fair value | $ 4,997,646 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 04, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.834% | 5.853% |
Cost | $ 2,465,106 | $ 4,933,150 |
Fair value | $ 2,485,725 | $ 4,988,062 |
Percentage of net assets | 0.89% | 1.59% |
Maturity date | May 07, 2024 | Jan. 16, 2024 |
Principal amount | $ 2,500,000 | $ 5,000,000 |
Commercial Paper, Two [Member] | Glencore Funding LLC [Member] | ||
Index | 5.493% | |
Cost | $ 4,964,750 | |
Fair value | $ 4,978,250 | |
Percentage of net assets | 1.79% | |
Maturity date | Apr. 30, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | National Fuel Gas Company [Member] | ||
Index | 5.941% | |
Cost | $ 2,478,948 | |
Fair value | $ 2,489,879 | |
Percentage of net assets | 0.79% | |
Maturity date | Jan. 26, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Two [Member] | Teucrium Sugar Fund [Member] | Glencore Funding LLC [Member] | ||
Index | 5.475% | |
Cost | $ 2,480,199 | |
Fair value | $ 2,485,429 | |
Percentage of net assets | 15.04% | |
Maturity date | May 10, 2024 | |
Principal amount | $ 2,500,000 | |
Cash and Cash Equivalents [Member] | ||
Fair value | $ 224,162,062 | $ 263,089,306 |
Percentage of net assets | 80.01% | 83.66% |
Cash and Cash Equivalents [Member] | Teucrium Sugar Fund [Member] | ||
Fair value | $ 12,019,032 | $ 13,551,433 |
Percentage of net assets | 72.71% | 76.47% |
Note 1 - Organization and Op_19
Note 1 - Organization and Operation - Teucrium Sugar Fund (Details Textual) | 3 Months Ended | ||
Sep. 16, 2011 USD ($) shares | Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) shares | |
Stock Issued During Period, Value, New Issues | $ | $ 13,002,447 | $ 17,208,235 | |
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 | 0 | 525,000 |
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 0 | $ 5,458,637 |
Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | |||
Derivative, Number of Instruments Held, Total | 3 |
Note 1 - Organization and Op_20
Note 1 - Organization and Operation - Benchmark - Teucrium Sugar Fund (Details) - Teucrium Sugar Fund [Member] | Mar. 31, 2024 |
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) | 3 Months Ended |
Mar. 31, 2024 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 |
Note 2 - Principal Contracts_22
Note 2 - Principal Contracts and Agreements - Summary of Expenses - Teucrium Sugar Fund (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Amount Recognized for Custody Services | $ 95,024 | $ 120,560 |
Amount Recognized for Distribution Services | 947,591 | 927,712 |
Amount Recognized for Wilmington Trust | 56,338 | 34,617 |
Related Party [Member] | ||
Amount Waived | 25,585 | 23,865 |
Teucrium Sugar Fund [Member] | ||
Amount Recognized for Custody Services | 8,512 | 1,036 |
Amount Recognized for Distribution Services | 82,545 | 34,816 |
Amount Recognized for Wilmington Trust | 5,631 | 2,491 |
Teucrium Sugar Fund [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Custody Services [Member] | Related Party [Member] | ||
Amount Recognized for Custody Services | 93,105 | 120,560 |
Amount Waived | 3,615 | 7,329 |
Custody Services [Member] | Teucrium Sugar Fund [Member] | Related Party [Member] | ||
Amount Recognized for Custody Services | 8,512 | 1,036 |
Amount Waived | 0 | 0 |
Distribution Services [Member] | Related Party [Member] | ||
Amount Waived | 1,527 | 2,322 |
Amount Recognized for Distribution Services | 36,539 | 38,765 |
Distribution Services [Member] | Teucrium Sugar Fund [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Distribution Services | 3,491 | 1,548 |
Wilmington Trust Company [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Wilmington Trust | 0 | 0 |
Wilmington Trust Company [Member] | Teucrium Sugar Fund [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Wilmington Trust | $ 0 | $ 0 |
Note 3 - Summary of Signific_28
Note 3 - Summary of Significant Accounting Policies - Teucrium Sugar Fund (Details Textual) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Open Tax Year | 2021 2022 2023 | ||||
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | |||
Teucrium Sugar Fund [Member] | |||||
Open Tax Year | 2021 2022 2023 | ||||
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | |||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | ||||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 25,000 | ||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | ||||
Minimum Number of RedemptionBaskets | 2 | ||||
Teucrium Sugar Fund [Member] | Teucrium Trading, LLC [Member] | |||||
Management Fee, Percentage of Average Daily Net Assets | 1% |
Note 3 - Summary of Signific_29
Note 3 - Summary of Significant Accounting Policies - Total Brokerage Commissions Paid - Teucrium Sugar Fund (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Brokerage Commissions | $ 31,644 | $ 52,020 |
Teucrium Sugar Fund [Member] | ||
Brokerage Commissions | $ 2,008 | $ 6,055 |
Note 3 - Summary of Signific_30
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents - Teucrium Sugar Fund (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Money Market Funds | $ 105,660,004 | $ 120,047,840 |
Demand Deposit Savings Accounts | 29,533,538 | 29,148,056 |
Commercial Paper | 118,502,058 | 143,041,466 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | 253,695,600 | 292,237,362 |
Teucrium Sugar Fund [Member] | ||
Money Market Funds | 4,050,986 | 3,033,238 |
Demand Deposit Savings Accounts | 3,264,927 | 3,222,312 |
Commercial Paper | 7,968,046 | 10,518,195 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 15,283,959 | $ 16,773,745 |
Note 3 - Summary of Signific_31
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions - Teucrium Sugar Fund (Details) - Related Party [Member] - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Recognized Related Party Transactions | $ 614,406 | $ 591,603 |
Waived Related Party Transactions | 25,585 | 23,865 |
Teucrium Sugar Fund [Member] | ||
Recognized Related Party Transactions | 58,527 | 23,761 |
Waived Related Party Transactions | $ 0 | $ 0 |
Note 4 - Fair Value Measurem_18
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Sugar Fund (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Cash Equivalents | $ 224,162,062 | $ 263,089,306 |
Derivative Liability | 18,352,042 | 10,888,842 |
Sugar Futures Contracts [Member] | ||
Derivative Liability | 814,401 | 2,687,998 |
Teucrium Sugar Fund [Member] | ||
Cash Equivalents | 12,019,032 | 13,551,433 |
Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Derivative Liability | 814,401 | 2,687,998 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 224,162,062 | 263,089,306 |
Derivative Liability | 18,352,042 | 10,888,842 |
Fair Value, Inputs, Level 1 [Member] | Sugar Futures Contracts [Member] | ||
Derivative Liability | 814,401 | 2,687,998 |
Fair Value, Inputs, Level 1 [Member] | Teucrium Sugar Fund [Member] | ||
Cash Equivalents | 12,019,032 | 13,551,433 |
Fair Value, Inputs, Level 1 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Derivative Liability | 814,401 | 2,687,998 |
Fair Value, Inputs, Level 2 [Member] | ||
Cash Equivalents | 0 | 0 |
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Sugar Futures Contracts [Member] | ||
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Teucrium Sugar Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Cash Equivalents | 0 | 0 |
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Sugar Futures Contracts [Member] | ||
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Teucrium Sugar Fund [Member] | ||
Cash Equivalents | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Teucrium Sugar Fund [Member] | Sugar Futures Contracts [Member] | ||
Derivative Liability | $ 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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Derivative, Average Notional Amount | $ 277.8 | $ 382.3 |
Teucrium Sugar Fund [Member] | ||
Derivative, Average Notional Amount | $ 16.9 | $ 25.7 |
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 ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Derivative liabilities | $ 18,352,042 | $ 10,888,842 |
Sugar Futures Contracts [Member] | ||
Gross amount of recognized liabilities | 814,401 | 2,687,998 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 814,401 | 2,687,998 |
Futures contracts available for offset, liabilities | 0 | 0 |
Collateral, due from broker, liabilities | 814,401 | 2,687,998 |
Net amount, liabilities | 0 | 0 |
Sugar Futures Contracts [Member] | Teucrium Sugar Fund [Member] | ||
Gross amount of recognized liabilities | 814,401 | 2,687,998 |
Gross amount offset, liabilities | 0 | 0 |
Derivative liabilities | 814,401 | 2,687,998 |
Futures contracts available for offset, liabilities | 0 | 2,687,998 |
Collateral, due from broker, liabilities | 814,401 | 0 |
Net amount, liabilities | $ 0 | $ 0 |
Note 5 - Derivative Instrume_24
Note 5 - Derivative Instruments and Hedging Activities - Summary of Gains (Losses) on Derivative Instruments - Teucrium Sugar Fund (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Realized Gain on Commodity Futures Contracts | $ (17,194,951) | $ (26,591,126) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (7,969,968) | (5,823,279) |
Teucrium Sugar Fund [Member] | ||
Realized Gain on Commodity Futures Contracts | (482,314) | 1,339,448 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 1,873,597 | 3,139,817 |
Sugar Futures Contracts [Member] | ||
Realized Gain on Commodity Futures Contracts | (482,314) | 1,339,448 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 1,873,597 | 3,139,817 |
Sugar Futures Contracts [Member] | Teucrium Sugar Fund [Member] | ||
Realized Gain on Commodity Futures Contracts | (482,314) | 1,339,448 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ 1,873,597 | $ 3,139,817 |
Note 6 - Financial Highlight_13
Note 6 - Financial Highlights - Schedule of Per Share Performance Data and Other Supplemental Financial Data - Teucrium Sugar Fund (Details) - $ / shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Income from investment operations: | ||
Interest income (in dollars per share) | $ 0.17 | $ 0.11 |
Teucrium Sugar Fund [Member] | ||
Net asset value per share at beginning of period (in dollars per share) | 12.44 | 9.51 |
Income from investment operations: | ||
Net realized and unrealized loss on commodity futures contracts (in dollars per share) | 1.01 | 1.89 |
Total expenses, net (in dollars per share) | (0.13) | (0.07) |
Net (decrease) increase in net asset value (in dollars per share) | 1.05 | 1.93 |
Net asset value per share at end of period (in dollars per share) | $ 13.49 | $ 11.44 |
Total Return | 8.51% | 20.28% |
Ratios to Average Net Assets (Annualized) | ||
Total expenses | 4.04% | 2.78% |
Total expenses, net | 4.04% | 2.78% |
Net investment income | 1.24% | 1.65% |
Note 8 - Subsequent Events - _5
Note 8 - Subsequent Events - Teucrium Sugar Fund (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | |
May 09, 2024 | Mar. 31, 2024 | Mar. 31, 2023 | |
Stockholders' Equity, Period Increase (Decrease) | $ (36,758,606) | $ (108,201,076) | |
Teucrium Sugar Fund [Member] | |||
Stockholders' Equity, Period Increase (Decrease) | $ (1,190,927) | $ 3,776,433 | |
Teucrium Sugar Fund [Member] | Subsequent Event [Member] | |||
Stockholders' Equity, Period Increase (Decrease) | $ 3,645,989 | ||
Investment Company, Net Assets, Period Increase (Decrease), Percentage | 22.10% | ||
Investment Company, Net Assets, Period Increase (Decrease), Percentage, Shares Outstanding | 12.20% | ||
Investment Company, Net Asset Value Per Share, Period Increase (Decrease), Percentage | 11.20% |
Schedule of Investments (Una_16
Schedule of Investments (Unaudited) - Investments - Teucrium Wheat Fund (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | ||
Fair value | $ 2,237,493 | |
Percentage of net assets | 1.22% | |
Number of contracts | ||
Notional amount, asset | $ 119,769,463 | |
Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 12,809,942 | |
Percentage of net assets | 8.13% | |
Notional amount, liability | $ 110,208,063 | |
Money Market Funds [Member] | ||
Cost | 105,660,004 | 120,047,840 |
Fair value | $ 105,660,004 | $ 120,047,840 |
Percentage of net assets | 38.04% | 38.16% |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.24% | 5.27% |
Cost | $ 22,987,077 | $ 39,325,186 |
Fair value | $ 22,987,077 | $ 39,325,186 |
Percentage of net assets | 8.28% | 12.50% |
Shares (in shares) | 22,987,077 | 39,325,186 |
Money Market Funds [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 5.21% | 5.25% |
Cost | $ 82,672,927 | $ 80,722,654 |
Fair value | $ 82,672,927 | $ 80,722,654 |
Percentage of net assets | 29.76% | 25.66% |
Shares (in shares) | 82,672,927 | 80,722,654 |
Money Market Funds [Member] | Teucrium Wheat Fund [Member] | ||
Cost | $ 68,480,900 | $ 80,816,091 |
Fair value | $ 68,480,900 | $ 80,816,091 |
Percentage of net assets | 43.47% | 43.88% |
Money Market Funds [Member] | Teucrium Wheat Fund [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.24% | 5.27% |
Cost | $ 10,758,845 | $ 27,315,653 |
Fair value | $ 10,758,845 | $ 27,315,653 |
Percentage of net assets | 6.83% | 14.83% |
Shares (in shares) | 10,758,845 | 27,315,653 |
Money Market Funds [Member] | Teucrium Wheat Fund [Member] | Goldman Sachs Financial Square Government Fund - Institutional Class [Member] | ||
Index | 5.21% | 5.25% |
Cost | $ 57,722,055 | $ 53,500,438 |
Fair value | $ 57,722,055 | $ 53,500,438 |
Percentage of net assets | 36.64% | 29.05% |
Shares (in shares) | 57,722,055 | 53,500,438 |
CBOT Wheat Futures MAY24 [Member] | Wheat Futures Contracts [Member] | ||
Fair value | $ 363,500 | |
Percentage of net assets | 0.12% | |
Number of contracts | 2,018 | |
Notional amount, asset | $ 64,525,550 | |
CBOT Wheat Futures MAY24 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | ||
Fair value | $ 363,500 | |
Percentage of net assets | 0.20% | |
Number of contracts | 2,018 | |
Notional amount, asset | $ 64,525,550 | |
CBOT Wheat Futures DEC24 [Member] | Wheat Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 9,199,877 | $ 4,575,666 |
Percentage of net assets | 3.31% | 1.45% |
Number of contracts | 1,800 | 1,924 |
Notional amount, liability | $ 55,080,000 | $ 64,357,800 |
CBOT Wheat Futures DEC24 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 9,199,877 | $ 4,575,666 |
Percentage of net assets | 5.84% | 2.48% |
Number of contracts | 1,800 | 1,924 |
Notional amount, liability | $ 55,080,000 | $ 64,357,800 |
CBOT Wheat Futures JUL24 [Member] | Wheat Futures Contracts [Member] | ||
Fair value | $ 1,873,993 | |
Percentage of net assets | 0.60% | |
Number of contracts | 1,711 | |
Notional amount, asset | $ 55,243,913 | |
CBOT Wheat Futures JUL24 [Member] | Wheat Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 3,610,065 | |
Percentage of net assets | 1.30% | |
Number of contracts | 1,915 | |
Notional amount, liability | $ 55,128,063 | |
CBOT Wheat Futures JUL24 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | ||
Fair value | $ 1,873,993 | |
Percentage of net assets | 1.02% | |
Number of contracts | 1,711 | |
Notional amount, asset | $ 55,243,913 | |
CBOT Wheat Futures JUL24 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | Liability [Member] | ||
Fair value | $ 3,610,065 | |
Percentage of net assets | 2.29% | |
Number of contracts | 1,915 | |
Notional amount, liability | $ 55,128,063 | |
Commercial Paper, One [Member] | American Electric Power Company, Inc. [Member] | ||
Index | 5.465% | |
Cost | $ 4,941,190 | |
Fair value | $ 4,946,401 | |
Percentage of net assets | 1.78% | |
Maturity date | Jun. 12, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Albemarle Corporation [Member] | ||
Index | 5.77% | |
Cost | $ 4,950,475 | |
Fair value | $ 4,998,428 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 03, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.844% | 5.794% |
Cost | $ 2,465,045 | $ 4,979,416 |
Fair value | $ 2,491,261 | $ 4,993,666 |
Percentage of net assets | 0.90% | 1.59% |
Maturity date | Apr. 23, 2024 | Jan. 09, 2024 |
Principal amount | $ 2,500,000 | $ 5,000,000 |
Commercial Paper, One [Member] | The Cigna Group [Member] | ||
Index | 5.501% | |
Cost | $ 2,970,300 | |
Fair value | $ 2,998,200 | |
Percentage of net assets | 1.08% | |
Maturity date | Apr. 05, 2024 | |
Principal amount | $ 3,000,000 | |
Commercial Paper, One [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.511% | 5.617% |
Cost | $ 4,932,500 | $ 7,420,795 |
Fair value | $ 4,983,500 | $ 7,480,486 |
Percentage of net assets | 1.79% | 2.38% |
Maturity date | Apr. 23, 2024 | Jan. 18, 2024 |
Principal amount | $ 5,000,000 | $ 7,500,000 |
Commercial Paper, One [Member] | Crown Castle Inc. [Member] | ||
Index | 5.53% | |
Cost | $ 9,945,600 | |
Fair value | $ 9,974,312 | |
Percentage of net assets | 3.59% | |
Maturity date | Apr. 18, 2024 | |
Principal amount | $ 10,000,000 | |
Commercial Paper, One [Member] | EIDP, Inc. [Member] | ||
Index | 5.314% | |
Cost | $ 4,934,875 | |
Fair value | $ 4,962,372 | |
Percentage of net assets | 1.79% | |
Maturity date | May 23, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.70% | 5.843% |
Cost | $ 2,482,111 | $ 4,949,066 |
Fair value | $ 2,490,278 | $ 4,993,634 |
Percentage of net assets | 0.90% | 1.59% |
Maturity date | Apr. 26, 2024 | Jan. 09, 2024 |
Principal amount | $ 2,500,000 | $ 5,000,000 |
Commercial Paper, One [Member] | Glencore Funding LLC [Member] | ||
Index | 5.49% | |
Cost | $ 7,456,125 | |
Fair value | $ 7,483,125 | |
Percentage of net assets | 2.69% | |
Maturity date | Apr. 16, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, One [Member] | National Fuel Gas Company [Member] | ||
Index | 5.544% | 5.867% |
Cost | $ 7,476,113 | $ 4,960,800 |
Fair value | $ 7,496,588 | $ 4,994,400 |
Percentage of net assets | 2.70% | 1.59% |
Maturity date | Apr. 04, 2024 | Jan. 08, 2024 |
Principal amount | $ 7,500,000 | $ 5,000,000 |
Commercial Paper, One [Member] | Oracle Corporation [Member] | ||
Index | 5.562% | |
Cost | $ 4,934,904 | |
Fair value | $ 4,950,799 | |
Percentage of net assets | 1.57% | |
Maturity date | Mar. 06, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Stanley Black & Decker, Inc. [Member] | ||
Index | 5.604% | 5.807% |
Cost | $ 4,987,734 | $ 7,437,063 |
Fair value | $ 4,997,700 | $ 7,475,063 |
Percentage of net assets | 1.80% | 2.38% |
Maturity date | Apr. 04, 2024 | Jan. 22, 2024 |
Principal amount | $ 5,000,000 | $ 7,500,000 |
Commercial Paper, One [Member] | V.F. Corporation [Member] | ||
Index | 5.674% | |
Cost | $ 4,936,679 | |
Fair value | $ 4,987,645 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 17, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | VW Credit, Inc. [Member] | ||
Index | 5.511% | |
Cost | $ 9,865,000 | |
Fair value | $ 9,985,000 | |
Percentage of net assets | 3.59% | |
Maturity date | Apr. 11, 2024 | |
Principal amount | $ 10,000,000 | |
Commercial Paper, One [Member] | WGL Holdings, Inc. [Member] | ||
Index | 5.616% | 5.793% |
Cost | $ 4,984,640 | $ 4,981,792 |
Fair value | $ 4,989,248 | $ 4,998,416 |
Percentage of net assets | 1.46% | 1.59% |
Maturity date | Apr. 15, 2024 | Jan. 03, 2024 |
Principal amount | $ 5,000,000 | $ 5,000,000 |
Commercial Paper, One [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 6.028% | |
Cost | $ 7,950,009 | |
Fair value | $ 7,985,529 | |
Percentage of net assets | 2.54% | |
Maturity date | Jan. 12, 2024 | |
Principal amount | $ 8,000,000 | |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | American Electric Power Company, Inc. [Member] | ||
Index | 5.465% | |
Cost | $ 4,941,190 | |
Fair value | $ 4,946,401 | |
Percentage of net assets | 3.14% | |
Maturity date | Jun. 12, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | Albemarle Corporation [Member] | ||
Index | 5.753% | |
Cost | $ 2,480,382 | |
Fair value | $ 2,498,823 | |
Percentage of net assets | 1.36% | |
Maturity date | Jan. 04, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.844% | 5.853% |
Cost | $ 2,465,045 | $ 2,466,575 |
Fair value | $ 2,491,261 | $ 2,494,031 |
Percentage of net assets | 1.58% | 1.35% |
Maturity date | Apr. 23, 2024 | Jan. 16, 2024 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | Entergy Corporation [Member] | ||
Index | 5.665% | |
Cost | $ 2,467,625 | |
Fair value | $ 2,476,875 | |
Percentage of net assets | 1.34% | |
Maturity date | Mar. 01, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | The Cigna Group [Member] | ||
Index | 5.501% | |
Cost | $ 2,475,250 | |
Fair value | $ 2,498,500 | |
Percentage of net assets | 1.59% | |
Maturity date | Apr. 05, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.511% | 5.617% |
Cost | $ 4,932,500 | $ 7,420,795 |
Fair value | $ 4,983,500 | $ 7,480,486 |
Percentage of net assets | 3.16% | 4.06% |
Maturity date | Apr. 23, 2024 | Jan. 18, 2024 |
Principal amount | $ 5,000,000 | $ 7,500,000 |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | Crown Castle Inc. [Member] | ||
Index | 5.53% | |
Cost | $ 4,972,800 | |
Fair value | $ 4,987,156 | |
Percentage of net assets | 3.17% | |
Maturity date | Apr. 18, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | EIDP, Inc. [Member] | ||
Index | 5.314% | |
Cost | $ 4,934,875 | |
Fair value | $ 4,962,372 | |
Percentage of net assets | 3.15% | |
Maturity date | May 23, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.70% | 5.843% |
Cost | $ 2,482,111 | $ 2,474,533 |
Fair value | $ 2,490,278 | $ 2,496,817 |
Percentage of net assets | 1.58% | 1.36% |
Maturity date | Apr. 26, 2024 | Jan. 09, 2024 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | Glencore Funding LLC [Member] | ||
Index | 5.49% | |
Cost | $ 2,485,375 | |
Fair value | $ 2,494,375 | |
Percentage of net assets | 1.58% | |
Maturity date | Apr. 16, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | National Fuel Gas Company [Member] | ||
Index | 5.544% | 5.941% |
Cost | $ 4,984,075 | $ 2,478,948 |
Fair value | $ 4,997,725 | $ 2,489,879 |
Percentage of net assets | 3.17% | 1.35% |
Maturity date | Apr. 04, 2024 | Jan. 26, 2024 |
Principal amount | $ 5,000,000 | $ 2,500,000 |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | Oracle Corporation [Member] | ||
Index | 5.562% | |
Cost | $ 2,467,452 | |
Fair value | $ 2,475,399 | |
Percentage of net assets | 1.34% | |
Maturity date | Mar. 06, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | Stanley Black & Decker, Inc. [Member] | ||
Index | 5.807% | |
Cost | $ 4,958,042 | |
Fair value | $ 4,983,375 | |
Percentage of net assets | 2.71% | |
Maturity date | Jan. 22, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | V.F. Corporation [Member] | ||
Index | 5.674% | |
Cost | $ 4,936,679 | |
Fair value | $ 4,987,645 | |
Percentage of net assets | 2.71% | |
Maturity date | Jan. 17, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | VW Credit, Inc. [Member] | ||
Index | 5.511% | |
Cost | $ 4,932,500 | |
Fair value | $ 4,992,500 | |
Percentage of net assets | 3.17% | |
Maturity date | Apr. 11, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | WGL Holdings, Inc. [Member] | ||
Index | 5.616% | 5.793% |
Cost | $ 2,492,320 | $ 2,490,896 |
Fair value | $ 2,494,624 | $ 2,499,208 |
Percentage of net assets | 1.58% | 1.36% |
Maturity date | Apr. 15, 2024 | Jan. 03, 2024 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Commercial Paper, One [Member] | Teucrium Wheat Fund [Member] | Walgreens Boots Alliance, Inc. [Member] | ||
Index | 6.028% | |
Cost | $ 5,465,631 | |
Fair value | $ 5,490,051 | |
Percentage of net assets | 2.98% | |
Maturity date | Jan. 12, 2024 | |
Principal amount | $ 5,500,000 | |
CBOT Wheat Futures SEP24 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | ||
Fair value | $ 1,513,306 | |
Percentage of net assets | 0.96% | |
Number of contracts | 1,599 | |
Notional amount, asset | $ 47,290,425 | |
Commercial Paper, Two [Member] | Albemarle Corporation [Member] | ||
Index | 5.753% | |
Cost | $ 4,960,764 | |
Fair value | $ 4,997,646 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 04, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.834% | 5.853% |
Cost | $ 2,465,106 | $ 4,933,150 |
Fair value | $ 2,485,725 | $ 4,988,062 |
Percentage of net assets | 0.89% | 1.59% |
Maturity date | May 07, 2024 | Jan. 16, 2024 |
Principal amount | $ 2,500,000 | $ 5,000,000 |
Commercial Paper, Two [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.408% | 5.661% |
Cost | $ 3,465,928 | $ 4,941,417 |
Fair value | $ 3,485,545 | $ 4,982,271 |
Percentage of net assets | 1.25% | 1.58% |
Maturity date | Apr. 29, 2024 | Jan. 24, 2024 |
Principal amount | $ 3,500,000 | $ 5,000,000 |
Commercial Paper, Two [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.815% | 5.867% |
Cost | $ 4,943,792 | $ 7,441,200 |
Fair value | $ 4,964,376 | $ 7,462,800 |
Percentage of net assets | 1.79% | 2.37% |
Maturity date | May 16, 2024 | Feb. 01, 2024 |
Principal amount | $ 5,000,000 | $ 7,500,000 |
Commercial Paper, Two [Member] | Glencore Funding LLC [Member] | ||
Index | 5.493% | |
Cost | $ 4,964,750 | |
Fair value | $ 4,978,250 | |
Percentage of net assets | 1.79% | |
Maturity date | Apr. 30, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | National Fuel Gas Company [Member] | ||
Index | 5.941% | |
Cost | $ 2,478,948 | |
Fair value | $ 2,489,879 | |
Percentage of net assets | 0.79% | |
Maturity date | Jan. 26, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Two [Member] | V.F. Corporation [Member] | ||
Index | 5.606% | |
Cost | $ 4,947,292 | |
Fair value | $ 4,987,014 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 18, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | VW Credit, Inc. [Member] | ||
Index | 5.402% | |
Cost | $ 4,943,320 | |
Fair value | $ 4,966,876 | |
Percentage of net assets | 1.45% | |
Maturity date | May 16, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Two [Member] | WGL Holdings, Inc. [Member] | ||
Index | 5.849% | |
Cost | $ 7,461,666 | |
Fair value | $ 7,486,824 | |
Percentage of net assets | 2.38% | |
Maturity date | Jan. 12, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, Two [Member] | Teucrium Wheat Fund [Member] | Albemarle Corporation [Member] | ||
Index | 5.738% | |
Cost | $ 2,476,151 | |
Fair value | $ 2,497,263 | |
Percentage of net assets | 1.36% | |
Maturity date | Jan. 08, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Two [Member] | Teucrium Wheat Fund [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.834% | 5.814% |
Cost | $ 2,465,106 | $ 2,481,364 |
Fair value | $ 2,485,725 | $ 2,488,501 |
Percentage of net assets | 1.58% | 1.35% |
Maturity date | May 07, 2024 | Jan. 30, 2024 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Commercial Paper, Two [Member] | Teucrium Wheat Fund [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.408% | 5.661% |
Cost | $ 990,265 | $ 4,941,417 |
Fair value | $ 995,870 | $ 4,982,271 |
Percentage of net assets | 0.63% | 2.71% |
Maturity date | Apr. 29, 2024 | Jan. 24, 2024 |
Principal amount | $ 1,000,000 | $ 5,000,000 |
Commercial Paper, Two [Member] | Teucrium Wheat Fund [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.815% | 5.867% |
Cost | $ 2,471,896 | $ 2,480,400 |
Fair value | $ 2,482,188 | $ 2,487,600 |
Percentage of net assets | 1.58% | 1.35% |
Maturity date | May 16, 2024 | Feb. 01, 2024 |
Principal amount | $ 2,500,000 | $ 2,500,000 |
Commercial Paper, Two [Member] | Teucrium Wheat Fund [Member] | Glencore Funding LLC [Member] | ||
Index | 5.493% | |
Cost | $ 2,482,375 | |
Fair value | $ 2,489,125 | |
Percentage of net assets | 1.58% | |
Maturity date | Apr. 30, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Two [Member] | Teucrium Wheat Fund [Member] | V.F. Corporation [Member] | ||
Index | 5.606% | |
Cost | $ 2,473,646 | |
Fair value | $ 2,493,507 | |
Percentage of net assets | 1.35% | |
Maturity date | Jan. 18, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Two [Member] | Teucrium Wheat Fund [Member] | VW Credit, Inc. [Member] | ||
Index | 5.402% | |
Cost | $ 2,471,660 | |
Fair value | $ 2,483,438 | |
Percentage of net assets | 1.58% | |
Maturity date | May 16, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Two [Member] | Teucrium Wheat Fund [Member] | WGL Holdings, Inc. [Member] | ||
Index | 5.849% | |
Cost | $ 2,487,222 | |
Fair value | $ 2,495,608 | |
Percentage of net assets | 1.36% | |
Maturity date | Jan. 12, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Three [Member] | Albemarle Corporation [Member] | ||
Index | 5.738% | |
Cost | $ 4,952,302 | |
Fair value | $ 4,994,526 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 08, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Three [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.71% | 5.814% |
Cost | $ 4,946,334 | $ 3,032,227 |
Fair value | $ 4,970,444 | $ 3,040,948 |
Percentage of net assets | 1.79% | 0.97% |
Maturity date | May 09, 2024 | Jan. 30, 2024 |
Principal amount | $ 5,000,000 | $ 3,055,000 |
Commercial Paper, Three [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.70% | |
Cost | $ 7,397,667 | |
Fair value | $ 7,454,648 | |
Percentage of net assets | 2.37% | |
Maturity date | Feb. 09, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, Three [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.927% | |
Cost | $ 7,421,323 | |
Fair value | $ 7,446,741 | |
Percentage of net assets | 2.37% | |
Maturity date | Feb. 14, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, Three [Member] | Glencore Funding LLC [Member] | ||
Index | 5.475% | |
Cost | $ 7,440,597 | |
Fair value | $ 7,456,287 | |
Percentage of net assets | 2.68% | |
Maturity date | May 10, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, Three [Member] | V.F. Corporation [Member] | ||
Index | 5.91% | |
Cost | $ 4,928,362 | |
Fair value | $ 4,950,783 | |
Percentage of net assets | 1.57% | |
Maturity date | Jan. 25, 2024 | |
Principal amount | $ 4,970,000 | |
Commercial Paper, Three [Member] | Teucrium Wheat Fund [Member] | Albemarle Corporation [Member] | ||
Index | 5.808% | |
Cost | $ 2,478,230 | |
Fair value | $ 2,496,041 | |
Percentage of net assets | 1.36% | |
Maturity date | Jan. 11, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Three [Member] | Teucrium Wheat Fund [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.71% | |
Cost | $ 2,473,167 | |
Fair value | $ 2,485,222 | |
Percentage of net assets | 1.58% | |
Maturity date | May 09, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Three [Member] | Teucrium Wheat Fund [Member] | General Motors Financial Company, Inc. [Member] | ||
Index | 5.70% | |
Cost | $ 7,397,667 | |
Fair value | $ 7,454,648 | |
Percentage of net assets | 4.05% | |
Maturity date | Feb. 09, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper, Three [Member] | Teucrium Wheat Fund [Member] | Harley-Davidson Financial Services, Inc. [Member] | ||
Index | 5.927% | |
Cost | $ 4,947,549 | |
Fair value | $ 4,964,494 | |
Percentage of net assets | 2.70% | |
Maturity date | Feb. 14, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper, Three [Member] | Teucrium Wheat Fund [Member] | Glencore Funding LLC [Member] | ||
Index | 5.475% | |
Cost | $ 2,480,199 | |
Fair value | $ 2,485,429 | |
Percentage of net assets | 1.58% | |
Maturity date | May 10, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper, Three [Member] | Teucrium Wheat Fund [Member] | V.F. Corporation [Member] | ||
Index | 5.91% | |
Cost | $ 4,928,362 | |
Fair value | $ 4,950,783 | |
Percentage of net assets | 2.69% | |
Maturity date | Jan. 25, 2024 | |
Principal amount | $ 4,970,000 | |
Commercial Paper Four [Member] | Albemarle Corporation [Member] | ||
Index | 5.808% | |
Cost | $ 4,956,460 | |
Fair value | $ 4,992,083 | |
Percentage of net assets | 1.59% | |
Maturity date | Jan. 11, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper Four [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.782% | |
Cost | $ 2,464,625 | |
Fair value | $ 2,483,098 | |
Percentage of net assets | 0.89% | |
Maturity date | May 14, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper Four [Member] | Teucrium Wheat Fund [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.772% | |
Cost | $ 2,464,688 | |
Fair value | $ 2,482,344 | |
Percentage of net assets | 1.58% | |
Maturity date | May 16, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper Five [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.772% | |
Cost | $ 4,929,376 | |
Fair value | $ 4,964,688 | |
Percentage of net assets | 1.79% | |
Maturity date | May 16, 2024 | |
Principal amount | $ 5,000,000 | |
Commercial Paper Five [Member] | Teucrium Wheat Fund [Member] | Brookfield Infrastructure Holdings (Canada) Inc. [Member] | ||
Index | 5.78% | |
Cost | $ 2,466,590 | |
Fair value | $ 2,479,954 | |
Percentage of net assets | 1.57% | |
Maturity date | May 22, 2024 | |
Principal amount | $ 2,500,000 | |
Commercial Paper [Member] | ||
Cost | 117,915,162 | 142,223,286 |
Fair value | $ 118,502,058 | $ 143,041,466 |
Percentage of net assets | 41.97% | 45.50% |
Commercial Paper [Member] | Entergy Corporation [Member] | ||
Index | 5.665% | |
Cost | $ 7,402,875 | |
Fair value | $ 7,430,625 | |
Percentage of net assets | 2.36% | |
Maturity date | Mar. 01, 2024 | |
Principal amount | $ 7,500,000 | |
Commercial Paper [Member] | Teucrium Wheat Fund [Member] | ||
Cost | $ 62,863,987 | 77,199,566 |
Fair value | $ 63,207,987 | $ 77,683,305 |
Percentage of net assets | 40.13% | 42.20% |
Cash and Cash Equivalents [Member] | ||
Fair value | $ 224,162,062 | $ 263,089,306 |
Percentage of net assets | 80.01% | 83.66% |
Cash and Cash Equivalents [Member] | Teucrium Wheat Fund [Member] | ||
Fair value | $ 131,688,887 | $ 158,499,396 |
Percentage of net assets | 83.60% | 86.08% |
Note 1 - Organization and Op_21
Note 1 - Organization and Operation - Teucrium Wheat Fund (Details Textual) | 3 Months Ended | |||||
Sep. 19, 2011 USD ($) $ / shares shares | Sep. 16, 2011 USD ($) shares | Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) shares | Jun. 13, 2011 shares | Dec. 31, 2010 shares | |
Stock Issued During Period, Value, New Issues | $ | $ 13,002,447 | $ 17,208,235 | ||||
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 | 475,000 | 825,000 | ||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 2,500,000 | $ 2,471,442 | $ 5,864,698 | ||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 25 | |||||
Shares, Outstanding, Ending Balance (in shares) | 4 | |||||
Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | ||||||
Derivative, Number of Instruments Held, Total | 3 |
Note 1 - Organization and Op_22
Note 1 - Organization and Operation - Benchmark - Teucrium Wheat Fund (Details) - Teucrium Wheat Fund [Member] | Mar. 31, 2024 |
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) | 3 Months Ended |
Mar. 31, 2024 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 |
Note 2 - Principal Contracts_24
Note 2 - Principal Contracts and Agreements - Summary of Expenses - Teucrium Wheat Fund (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Amount Recognized for Custody Services | $ 95,024 | $ 120,560 |
Amount Recognized for Distribution Services | 947,591 | 927,712 |
Amount Recognized for Wilmington Trust | 56,338 | 34,617 |
Related Party [Member] | ||
Amount Waived | 25,585 | 23,865 |
Teucrium Wheat Fund [Member] | ||
Amount Recognized for Custody Services | 50,520 | 75,710 |
Amount Recognized for Distribution Services | 521,828 | 544,062 |
Amount Recognized for Wilmington Trust | 16,408 | 4,812 |
Teucrium Wheat Fund [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Custody Services [Member] | Related Party [Member] | ||
Amount Recognized for Custody Services | 93,105 | 120,560 |
Amount Waived | 3,615 | 7,329 |
Custody Services [Member] | Teucrium Wheat Fund [Member] | Related Party [Member] | ||
Amount Recognized for Custody Services | 50,520 | 75,710 |
Amount Waived | 0 | 0 |
Distribution Services [Member] | Related Party [Member] | ||
Amount Waived | 1,527 | 2,322 |
Amount Recognized for Distribution Services | 36,539 | 38,765 |
Distribution Services [Member] | Teucrium Wheat Fund [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Distribution Services | 20,330 | 21,576 |
Wilmington Trust Company [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Wilmington Trust | 0 | 0 |
Wilmington Trust Company [Member] | Teucrium Wheat Fund [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Wilmington Trust | $ 0 | $ 0 |
Note 3 - Summary of Signific_32
Note 3 - Summary of Significant Accounting Policies - Teucrium Wheat Fund (Details Textual) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Open Tax Year | 2021 2022 2023 | ||||
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | |||
Teucrium Wheat Fund [Member] | |||||
Open Tax Year | 2021 2022 2023 | ||||
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | |||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 25,000 | ||||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 25,000 | ||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | ||||
Minimum Number of RedemptionBaskets | 2 | ||||
Teucrium Wheat Fund [Member] | Teucrium Trading, LLC [Member] | |||||
Management Fee, Percentage of Average Daily Net Assets | 1% |
Note 3 - Summary of Signific_33
Note 3 - Summary of Significant Accounting Policies - Total Brokerage Commissions Paid - Teucrium Wheat Fund (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Brokerage Commissions | $ 31,644 | $ 52,020 |
Teucrium Wheat Fund [Member] | ||
Brokerage Commissions | $ 15,580 | $ 21,746 |
Note 3 - Summary of Signific_34
Note 3 - Summary of Significant Accounting Policies - Cash and Cash Equivalents - Teucrium Wheat Fund (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Money Market Funds | $ 105,660,004 | $ 120,047,840 |
Demand Deposit Savings Accounts | 29,533,538 | 29,148,056 |
Commercial Paper | 118,502,058 | 143,041,466 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | 253,695,600 | 292,237,362 |
Teucrium Wheat Fund [Member] | ||
Money Market Funds | 68,480,900 | 80,816,091 |
Demand Deposit Savings Accounts | 10,368,017 | 10,232,690 |
Commercial Paper | 63,207,987 | 77,683,305 |
Total cash and cash equivalents as presented on the combined Statement of Assets and Liabilities | $ 142,056,904 | $ 168,732,086 |
Note 3 - Summary of Signific_35
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions - Teucrium Wheat Fund (Details) - Related Party [Member] - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Recognized Related Party Transactions | $ 614,406 | $ 591,603 |
Waived Related Party Transactions | 25,585 | 23,865 |
Teucrium Wheat Fund [Member] | ||
Recognized Related Party Transactions | 342,309 | 328,187 |
Waived Related Party Transactions | $ 0 | $ 0 |
Note 4 - Fair Value Measurem_19
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Wheat Fund (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 |
Cash Equivalents | $ 224,162,062 | $ 263,089,306 | |
Total | 225,829,780 | 265,456,318 | |
Derivative Liability | 18,352,042 | 10,888,842 | |
Wheat Futures Contracts [Member] | |||
Commodity and Cryptocurrency Futures Contracts | 1,513,306 | 2,237,493 | |
Derivative Liability | 12,809,942 | 4,575,666 | |
Teucrium Wheat Fund [Member] | |||
Cash Equivalents | 131,688,887 | 158,499,396 | |
Total | 133,202,193 | 160,736,889 | |
Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | |||
Commodity and Cryptocurrency Futures Contracts | 1,513,306 | 2,237,493 | |
Derivative Liability | 12,809,942 | 4,575,666 | $ 4,575,666 |
Fair Value, Inputs, Level 1 [Member] | |||
Cash Equivalents | 224,162,062 | 263,089,306 | |
Total | 225,829,780 | 265,456,318 | |
Derivative Liability | 18,352,042 | 10,888,842 | |
Fair Value, Inputs, Level 1 [Member] | Wheat Futures Contracts [Member] | |||
Commodity and Cryptocurrency Futures Contracts | 1,513,306 | 2,237,493 | |
Derivative Liability | 12,809,942 | 4,575,666 | |
Fair Value, Inputs, Level 1 [Member] | Teucrium Wheat Fund [Member] | |||
Cash Equivalents | 131,688,887 | 158,499,396 | |
Total | 133,202,193 | 160,736,889 | |
Fair Value, Inputs, Level 1 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | |||
Commodity and Cryptocurrency Futures Contracts | 1,513,306 | 2,237,493 | |
Derivative Liability | 12,809,942 | 4,575,666 | |
Fair Value, Inputs, Level 2 [Member] | |||
Cash Equivalents | 0 | 0 | |
Total | 0 | 0 | |
Derivative Liability | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Wheat Futures Contracts [Member] | |||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 | |
Derivative Liability | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Teucrium Wheat Fund [Member] | |||
Cash Equivalents | 0 | 0 | |
Total | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | |||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 | |
Derivative Liability | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Cash Equivalents | 0 | 0 | |
Total | 0 | 0 | |
Derivative Liability | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Wheat Futures Contracts [Member] | |||
Commodity and Cryptocurrency Futures Contracts | 0 | 0 | |
Derivative Liability | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Teucrium Wheat Fund [Member] | |||
Cash Equivalents | 0 | 0 | |
Total | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | |||
Commodity and Cryptocurrency Futures Contracts | 0 | $ 0 | |
Derivative Liability | $ 0 | $ 0 |
Note 5 - Derivative Instrume_25
Note 5 - Derivative Instruments and Hedging Activities - Teucrium Wheat Fund (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Derivative, Average Notional Amount | $ 277.8 | $ 382.3 |
Teucrium Wheat Fund [Member] | ||
Derivative, Average Notional Amount | $ 162.4 | $ 185.9 |
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 ($) | Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 |
Derivative liabilities | $ 18,352,042 | $ 10,888,842 | |
Wheat Futures Contracts [Member] | |||
Gross amount of recognized assets | 1,513,306 | 2,237,493 | |
Gross amount offset, assets | 0 | 0 | |
Commodity and Cryptocurrency Futures Contracts | 1,513,306 | 2,237,493 | |
Available for offset, assets | 1,513,306 | 2,237,493 | |
Collateral, due to broker, assets | 0 | 0 | |
Net amount, assets | 0 | 0 | |
Gross amount of recognized liabilities | 12,809,942 | 4,575,666 | |
Gross amount offset, liabilities | 0 | 0 | |
Derivative liabilities | 12,809,942 | 4,575,666 | |
Futures contracts available for offset, liabilities | 1,513,306 | 2,237,493 | |
Collateral, due from broker, liabilities | 11,296,636 | 2,338,173 | |
Net amount, liabilities | 0 | 0 | |
Derivative asset | 1,513,306 | 2,237,493 | |
Teucrium Wheat Fund [Member] | Wheat Futures Contracts [Member] | |||
Gross amount of recognized assets | 1,513,306 | 2,237,493 | |
Gross amount offset, assets | 0 | 0 | |
Commodity and Cryptocurrency Futures Contracts | 1,513,306 | 2,237,493 | |
Available for offset, assets | 1,513,306 | 2,237,493 | |
Collateral, due to broker, assets | 0 | 0 | |
Net amount, assets | 0 | 0 | |
Gross amount of recognized liabilities | 12,809,942 | 4,575,666 | |
Gross amount offset, liabilities | 0 | 0 | |
Derivative liabilities | 12,809,942 | 4,575,666 | $ 4,575,666 |
Futures contracts available for offset, liabilities | 1,513,306 | 2,237,493 | |
Collateral, due from broker, liabilities | 11,296,636 | 2,338,173 | |
Net amount, liabilities | 0 | 0 | |
Derivative asset | $ 1,513,306 | $ 2,237,493 |
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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Realized Gain on Commodity Futures Contracts | $ (17,194,951) | $ (26,591,126) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (7,969,968) | (5,823,279) |
Teucrium Wheat Fund [Member] | ||
Realized Gain on Commodity Futures Contracts | (10,037,305) | (23,358,733) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (8,958,463) | (2,092,562) |
Wheat Futures Contracts [Member] | ||
Realized Gain on Commodity Futures Contracts | (10,037,305) | (23,358,733) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (8,958,463) | (2,092,562) |
Wheat Futures Contracts [Member] | Teucrium Wheat Fund [Member] | ||
Realized Gain on Commodity Futures Contracts | (10,037,305) | (23,358,733) |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ (8,958,463) | $ (2,092,562) |
Note 6 - Financial Highlight_14
Note 6 - Financial Highlights - Schedule of Per Share Performance Data and Other Supplemental Financial Data - Teucrium Wheat Fund (Details) - $ / shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Income from investment operations: | ||
Interest income (in dollars per share) | $ 0.17 | $ 0.11 |
Teucrium Wheat Fund [Member] | ||
Net asset value per share at beginning of period (in dollars per share) | 5.98 | 7.99 |
Income from investment operations: | ||
Interest income (in dollars per share) | 0.07 | 0.08 |
Net realized and unrealized loss on commodity futures contracts (in dollars per share) | (0.62) | (0.96) |
Total expenses, net (in dollars per share) | (0.04) | (0.05) |
Net (decrease) increase in net asset value (in dollars per share) | (0.59) | (0.93) |
Net asset value per share at end of period (in dollars per share) | $ 5.39 | $ 7.06 |
Total Return | (9.93%) | (11.55%) |
Ratios to Average Net Assets (Annualized) | ||
Total expenses | 2.80% | 2.58% |
Total expenses, net | 2.80% | 2.58% |
Net investment income | 2.45% | 1.76% |
Schedule of Investments (Una_17
Schedule of Investments (Unaudited) - Investments - Teucrium Agricultural Fund (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 | |
Teucrium Agricultural Fund [Member] | |||
Fair value | $ 14,515,416 | $ 18,401,900 | |
Cost | 16,068,429 | 19,469,359 | |
Exchange Traded Funds [Member] | |||
Fair value | [1] | $ 14,515,416 | $ 18,401,900 |
Percentage of net assets | [1] | 5.23% | 5.85% |
Cost | [1] | $ 16,068,429 | $ 19,469,359 |
Exchange Traded Funds [Member] | Teucrium Corn Fund [Member] | |||
Fair value | $ 3,661,367 | $ 4,567,949 | |
Percentage of net assets | 25.20% | 24.81% | |
Shares (in shares) | 181,115 | 211,348 | |
Shares (in shares) | 181,115 | 211,348 | |
Exchange Traded Funds [Member] | Teucrium Soybean Fund [Member] | |||
Fair value | $ 3,574,703 | $ 4,546,758 | |
Percentage of net assets | 24.61% | 24.70% | |
Shares (in shares) | 142,076 | 168,219 | |
Shares (in shares) | 142,076 | 168,219 | |
Exchange Traded Funds [Member] | Teucrium Sugar Fund [Member] | |||
Fair value | $ 3,605,828 | $ 4,624,253 | |
Percentage of net assets | 24.82% | 25.12% | |
Shares (in shares) | 267,233 | 371,871 | |
Shares (in shares) | 267,233 | 371,871 | |
Exchange Traded Funds [Member] | Teucrium Wheat Fund [Member] | |||
Fair value | $ 3,673,518 | $ 4,662,940 | |
Percentage of net assets | 25.29% | 25.33% | |
Shares (in shares) | 682,062 | 779,782 | |
Shares (in shares) | 682,062 | 779,782 | |
Exchange Traded Funds [Member] | Teucrium Agricultural Fund [Member] | |||
Fair value | $ 14,515,416 | $ 18,401,900 | |
Percentage of net assets | 99.92% | 99.96% | |
Cost | $ 16,068,429 | $ 19,469,359 | |
Money Market Funds [Member] | |||
Fair value | $ 105,660,004 | $ 120,047,840 | |
Percentage of net assets | 38.04% | 38.16% | |
Cost | $ 105,660,004 | $ 120,047,840 | |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | |||
Fair value | $ 22,987,077 | $ 39,325,186 | |
Percentage of net assets | 8.28% | 12.50% | |
Shares (in shares) | 22,987,077 | 39,325,186 | |
Cost | $ 22,987,077 | $ 39,325,186 | |
Index | 5.24% | 5.27% | |
Shares (in shares) | 22,987,077 | 39,325,186 | |
Money Market Funds [Member] | Teucrium Corn Fund [Member] | |||
Fair value | $ 20,890,251 | $ 26,573,542 | |
Percentage of net assets | 29.95% | 32.79% | |
Cost | $ 20,890,251 | $ 26,573,542 | |
Money Market Funds [Member] | Teucrium Corn Fund [Member] | U.S. Bank Deposit Account [Member] | |||
Fair value | $ 3,095,240 | $ 7,523,423 | |
Percentage of net assets | 4.44% | 9.28% | |
Shares (in shares) | 3,095,240 | 7,523,423 | |
Cost | $ 3,095,240 | $ 7,523,423 | |
Index | 5.24% | 5.27% | |
Shares (in shares) | 3,095,240 | 7,523,423 | |
Money Market Funds [Member] | Teucrium Soybean Fund [Member] | |||
Fair value | $ 12,228,166 | $ 7,746,099 | |
Percentage of net assets | 36% | 26.66% | |
Cost | $ 12,228,166 | $ 7,746,099 | |
Money Market Funds [Member] | Teucrium Soybean Fund [Member] | U.S. Bank Deposit Account [Member] | |||
Fair value | $ 1,075,007 | ||
Percentage of net assets | 3.70% | ||
Shares (in shares) | 1,075,007 | ||
Cost | $ 1,075,007 | ||
Index | 5.27% | ||
Shares (in shares) | 1,075,007 | ||
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | |||
Fair value | $ 4,050,986 | $ 3,033,238 | |
Percentage of net assets | 24.50% | 17.12% | |
Cost | $ 4,050,986 | $ 3,033,238 | |
Money Market Funds [Member] | Teucrium Sugar Fund [Member] | U.S. Bank Deposit Account [Member] | |||
Fair value | $ 1,342,798 | $ 1,532,232 | |
Percentage of net assets | 8.12% | 8.65% | |
Shares (in shares) | 1,342,798 | 1,532,232 | |
Cost | $ 1,342,798 | $ 1,532,232 | |
Index | 5.24% | 5.27% | |
Shares (in shares) | 1,342,798 | 1,532,232 | |
Money Market Funds [Member] | Teucrium Wheat Fund [Member] | |||
Fair value | $ 68,480,900 | $ 80,816,091 | |
Percentage of net assets | 43.47% | 43.88% | |
Cost | $ 68,480,900 | $ 80,816,091 | |
Money Market Funds [Member] | Teucrium Wheat Fund [Member] | U.S. Bank Deposit Account [Member] | |||
Fair value | $ 10,758,845 | $ 27,315,653 | |
Percentage of net assets | 6.83% | 14.83% | |
Shares (in shares) | 10,758,845 | 27,315,653 | |
Cost | $ 10,758,845 | $ 27,315,653 | |
Index | 5.24% | 5.27% | |
Shares (in shares) | 10,758,845 | 27,315,653 | |
Money Market Funds [Member] | Teucrium Agricultural Fund [Member] | U.S. Bank Deposit Account [Member] | |||
Fair value | $ 9,701 | ||
Percentage of net assets | 0.07% | ||
Shares (in shares) | 9,701 | ||
Cost | $ 9,701 | ||
Index | 5.21% | ||
Shares (in shares) | 9,701 | ||
Money Market Funds [Member] | Teucrium Agricultural Fund [Member] | U.S. Bank N.A. [Member] | |||
Fair value | $ 11,208 | ||
Percentage of net assets | 0.06% | ||
Shares (in shares) | 11,208 | ||
Cost | $ 11,208 | ||
Index | 5.27% | ||
Shares (in shares) | 11,208 | ||
[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) | 3 Months Ended | |||||||||
Mar. 27, 2012 USD ($) $ / shares shares | Sep. 19, 2011 USD ($) $ / shares shares | Sep. 16, 2011 USD ($) shares | Jun. 08, 2010 USD ($) shares | Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) shares | Dec. 31, 2023 shares | Feb. 10, 2012 shares | Dec. 31, 2011 shares | Jun. 13, 2011 shares | |
Stock Issued During Period, Value, New Issues | $ | $ 13,002,447 | $ 17,208,235 | ||||||||
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 | 0 | |||||||
Stock Issued During Period, Value, New Issues | $ | $ 15,000,000 | $ 0 | $ 0 | |||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 50 | |||||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 512,502 | 625,002 | 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 | 125,000 | 75,000 | |||||||
Stock Issued During Period, Value, New Issues | $ | $ 5,000,000 | $ 2,436,790 | $ 1,991,168 | |||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 3,450,004 | 3,750,004 | ||||||||
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 | 475,000 | 825,000 | ||||||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 2,500,000 | $ 2,471,442 | $ 5,864,698 | ||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 25 | |||||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 29,250,004 | 30,800,004 | ||||||||
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 | 325,000 | 125,000 | |||||||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 8,094,215 | $ 3,526,043 | |||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 1,350,004 | 1,075,004 | ||||||||
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 | 0 | 525,000 | |||||||
Stock Issued During Period, Value, New Issues | $ | $ 2,500,000 | $ 0 | $ 5,458,637 | |||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 1,225,004 | 1,425,004 | ||||||||
Teucrium Sugar Fund [Member] | Second to Expire [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 35% | |||||||||
Teucrium Sugar Fund [Member] | Third to Expire [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 30% | |||||||||
Teucrium Sugar Fund [Member] | Expiring in the March Following the Expiration of the Third to Expire Contract [Member] | ||||||||||
Weighted Average Closing Prices, Benchmark Weighting, Percent Per Tranche of Contracts | 35% |
Note 1 - Organization and Op_24
Note 1 - Organization and Operation - Benchmark - Teucrium Agricultural Fund (Details) - Teucrium Agricultural Fund [Member] | Mar. 31, 2024 |
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) | 3 Months Ended |
Mar. 31, 2024 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 |
Note 2 - Principal Contracts_26
Note 2 - Principal Contracts and Agreements - Summary of Expenses - Teucrium Agricultural Fund (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Amount Recognized for Custody Services | $ 95,024 | $ 120,560 |
Amount Recognized for Distribution Services | 947,591 | 927,712 |
Amount Recognized for Wilmington Trust | 56,338 | 34,617 |
Related Party [Member] | ||
Amount Waived | 25,585 | 23,865 |
Teucrium Agricultural Fund [Member] | ||
Amount Recognized for Custody Services | 3,615 | 7,070 |
Amount Recognized for Distribution Services | 36,178 | 39,209 |
Amount Recognized for Wilmington Trust | 9,825 | 8,313 |
Teucrium Agricultural Fund [Member] | Related Party [Member] | ||
Amount Waived | 25,585 | 23,865 |
Custody Services [Member] | Related Party [Member] | ||
Amount Recognized for Custody Services | 93,105 | 120,560 |
Amount Waived | 3,615 | 7,329 |
Custody Services [Member] | Teucrium Agricultural Fund [Member] | Related Party [Member] | ||
Amount Recognized for Custody Services | 3,615 | 7,070 |
Amount Waived | 3,615 | 7,070 |
Distribution Services [Member] | Related Party [Member] | ||
Amount Waived | 1,527 | 2,322 |
Amount Recognized for Distribution Services | 36,539 | 38,765 |
Distribution Services [Member] | Teucrium Agricultural Fund [Member] | Related Party [Member] | ||
Amount Waived | 1,527 | 2,262 |
Amount Recognized for Distribution Services | 1,527 | 2,262 |
Wilmington Trust Company [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Wilmington Trust | 0 | 0 |
Wilmington Trust Company [Member] | Teucrium Agricultural Fund [Member] | Related Party [Member] | ||
Amount Waived | 0 | 0 |
Amount Recognized for Wilmington Trust | $ 0 | $ 0 |
Note 3 - Summary of Signific_36
Note 3 - Summary of Significant Accounting Policies - Teucrium Agricultural Fund (Details Textual) | 3 Months Ended | ||||||
Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Aug. 28, 2018 shares | Aug. 27, 2018 shares | |
Open Tax Year | 2021 2022 2023 | ||||||
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | $ 0 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0 | $ 0 | |||||
Money Market Funds, at Carrying Value | $ 105,660,004 | 120,047,840 | |||||
Teucrium Agricultural Fund [Member] | |||||||
Open Tax Year | 2021 20222 2023 | ||||||
Unrecognized Tax Benefits | $ 0 | 0 | $ 0 | $ 0 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | |||||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 12,500 | 12,500 | 25,000 | ||||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 12,500 | ||||||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | ||||||
Minimum Number of RedemptionBaskets | 4 | ||||||
Money Market Funds, at Carrying Value | $ 9,701 | $ 11,208 | |||||
Teucrium Agricultural Fund [Member] | Teucrium Trading, LLC [Member] | |||||||
Management Fee, Percentage of Average Daily Net Assets | 1% |
Note 3 - Summary of Signific_37
Note 3 - Summary of Significant Accounting Policies - Related Party Transactions - Teucrium Agricultural Fund (Details) - Related Party [Member] - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Recognized Related Party Transactions | $ 614,406 | $ 591,603 |
Waived Related Party Transactions | 25,585 | 23,865 |
Teucrium Agricultural Fund [Member] | ||
Recognized Related Party Transactions | 25,585 | 34,473 |
Waived Related Party Transactions | $ 25,585 | $ 23,865 |
Note 3 - Summary of Signific_38
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor - Teucrium Agricultural Fund (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Expenses waived by the Sponsor | $ 131,847 | $ 196,064 |
Teucrium Agricultural Fund [Member] | ||
Expenses waived by the Sponsor | $ 69,538 | $ 125,494 |
Note 4 - Fair Value Measurem_20
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Teucrium Agricultural Fund (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Cash Equivalents | $ 224,162,062 | $ 263,089,306 |
Total | 225,829,780 | 265,456,318 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 224,162,062 | 263,089,306 |
Total | 225,829,780 | 265,456,318 |
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 | 14,515,416 | 18,401,900 |
Cash Equivalents | 9,701 | 11,208 |
Total | 14,525,117 | 18,413,108 |
Teucrium Agricultural Fund [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Exchange Traded Funds | 14,515,416 | 18,401,900 |
Cash Equivalents | 9,701 | 11,208 |
Total | 14,525,117 | 18,413,108 |
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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net asset value per share at beginning of period (in dollars per share) | $ 29.45 | $ 31.35 |
Income from investment operations: | ||
Net realized and unrealized loss on commodity futures contracts (in dollars per share) | (1.09) | (0.29) |
Total expenses, net (in dollars per share) | (0.01) | (0.01) |
Net (decrease) increase in net asset value (in dollars per share) | (1.1) | (0.3) |
Net asset value per share at end of period (in dollars per share) | $ 28.35 | $ 31.05 |
Total Return | (3.77%) | (0.96%) |
Ratios to Average Net Assets (Annualized) | ||
Total expenses | 1.76% | 1.49% |
Total expenses, net | 0.09% | 0.09% |
Net investment income | (0.09%) | (0.09%) |
Schedule of Investments (Una_18
Schedule of Investments (Unaudited) - Hashdex Bitcoin Futures ETF (Details Textual) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 | |
Assets | $ 296,650,377 | $ 325,956,138 | |
Liabilities | 18,861,569 | 11,408,724 | |
Hashdex Bitcoin Futures ETF [Member] | |||
Assets | 0 | [1],[2] | 2,590,387 |
Liabilities | $ 0 | [1],[2] | $ 53,429 |
[1]On January 3, 2024, the scheduled merger of the Hashdex Bitcoin Futures ETF (the “Acquired Fund”), a series of the Teucrium Commodity Trust into the Hashdex Bitcoin Futures ETF (the “Acquiring Fund”), a series of Tidal Commodities Trust I, became effective and therefore, no assets and liabilities remained after the effective date.[2]On September 14, 2022, the Hashdex Bitcoin Futures ETF registered an indeterminate number of shares of the Fund pursuant to Rule 456(d) under the Securities Act of 1933. |
Schedule of Investments (Una_19
Schedule of Investments (Unaudited) - Investments - Hashdex Bitcoin Futures ETF (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Money Market Funds [Member] | ||
Cost | $ 105,660,004 | $ 120,047,840 |
Fair value | $ 105,660,004 | $ 120,047,840 |
Percentage of net assets | 38.04% | 38.16% |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | ||
Index | 5.24% | 5.27% |
Cost | $ 22,987,077 | $ 39,325,186 |
Fair value | $ 22,987,077 | $ 39,325,186 |
Percentage of net assets | 8.28% | 12.50% |
Shares (in shares) | 22,987,077 | 39,325,186 |
Money Market Funds [Member] | U.S. Bank Deposit Account [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Index | 5.27% | |
Cost | $ 1,867,663 | |
Fair value | $ 1,867,663 | |
Percentage of net assets | 73.62% | |
Shares (in shares) | 1,867,663 | |
CME Bitcoin Futures JAN24 [Member] | Bitcoin Futures Contracts [Member] | ||
Fair value | $ 129,519 | |
Percentage of net assets | 0.04% | |
Number of contracts | 6 | |
Notional amount, asset | $ 1,274,550 | |
CME Bitcoin Futures JAN24 [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Fair value | $ 129,519 | |
Percentage of net assets | 5.11% | |
Number of contracts | 6 | |
Notional amount, asset | $ 1,274,550 | |
CME Bitcoin Futures FEB24 [Member] | Liability [Member] | Bitcoin Futures Contracts [Member] | ||
Fair value | $ 51,376 | |
Percentage of net assets | 0.02% | |
Number of contracts | 6 | |
Notional amount, liability | $ 1,288,500 | |
CME Bitcoin Futures FEB24 [Member] | Hashdex Bitcoin Futures ETF [Member] | Liability [Member] | Bitcoin Futures Contracts [Member] | ||
Fair value | $ 51,376 | |
Percentage of net assets | 2.03% | |
Number of contracts | 6 | |
Notional amount, liability | $ 1,288,500 |
Note 1 - Organization and Op_25
Note 1 - Organization and Operation - Hashdex Bitcoin Futures ETF (Details Textual) | 3 Months Ended | |||
Jan. 03, 2024 shares | Sep. 15, 2022 USD ($) $ / shares shares | Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) shares | |
Stock Issued During Period, Value, New Issues | $ | $ 13,002,447 | $ 17,208,235 | ||
Tidal Commodities Trust I [Member] | ||||
Merger Agreement, Number of Shares Received Per Share (in shares) | 1 | |||
Tidal Investments LLC [Member] | ||||
Monthly Fee, Percentage of Management Fee | 7% | |||
Monthly Fee, Percentage of Monthly Average Net Assets | 0.04% | |||
Hashdex Bitcoin Futures ETF [Member] | ||||
Stock Issued During Period, Shares, New Issues (in shares) | 50,000 | 0 | 10,000 | |
Stock Issued During Period, Value, New Issues | $ | $ 1,250,000 | $ 0 | $ 367,689 | |
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 25 | |||
Number of Futures Contracts Offered | 2 | |||
Hashdex Bitcoin Futures ETF [Member] | Tidal Commodities Trust I [Member] | ||||
Merger Agreement, Number of Shares Received Per Share (in shares) | 1 | |||
Hashdex Bitcoin Futures ETF [Member] | Tidal Investments LLC [Member] | ||||
Monthly Fee, Percentage of Management Fee | 7% | |||
Monthly Fee, Percentage of Monthly Average Net Assets | 0.04% | |||
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 |
Note 1 - Organization and Op_26
Note 1 - Organization and Operation - Benchmark - Hashdex Bitcoin Futures ETF (Details) - Hashdex Bitcoin Futures ETF [Member] | Mar. 31, 2024 |
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) | 3 Months Ended |
Mar. 31, 2024 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, Exchange Maintenance Margin | 35% |
Phillip Capital Inc [Member] | Brokerage Commissions [Member] | Hashdex Bitcoin Futures ETF [Member] | Maximum [Member] | |
Related Party Transaction, Exchange Maintenance Margin | 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 ($) | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Amount Recognized for Custody Services | $ 95,024 | $ 120,560 | |
Amount Recognized for Distribution Services | 947,591 | 927,712 | |
Amount Recognized for Wilmington Trust | 56,338 | 34,617 | |
Related Party [Member] | |||
Amount Waived | 25,585 | 23,865 | |
Hashdex Bitcoin Futures ETF [Member] | |||
Amount Recognized for Custody Services | 1,919 | [1] | 259 |
Amount Recognized for Distribution Services | 826 | [1] | 1,362 |
Amount Recognized for Wilmington Trust | 11,075 | [1] | 10,129 |
Custody Services [Member] | Related Party [Member] | |||
Amount Recognized for Custody Services | 93,105 | 120,560 | |
Amount Waived | 3,615 | 7,329 | |
Custody Services [Member] | Hashdex Bitcoin Futures ETF [Member] | Related Party [Member] | |||
Amount Recognized for Custody Services | 0 | 259 | |
Amount Waived | 0 | 259 | |
Distribution Services [Member] | Related Party [Member] | |||
Amount Waived | 1,527 | 2,322 | |
Amount Recognized for Distribution Services | 36,539 | 38,765 | |
Distribution Services [Member] | Hashdex Bitcoin Futures ETF [Member] | Related Party [Member] | |||
Amount Waived | 0 | 60 | |
Amount Recognized for Distribution Services | 0 | 60 | |
Wilmington Trust Company [Member] | Related Party [Member] | |||
Amount Waived | 0 | 0 | |
Amount Recognized for Wilmington Trust | 0 | 0 | |
Wilmington Trust Company [Member] | Hashdex Bitcoin Futures ETF [Member] | Related Party [Member] | |||
Amount Waived | 0 | 0 | |
Amount Recognized for Wilmington Trust | $ 0 | $ 0 | |
[1]On January 3, 2024, the scheduled merger of the Hashdex Bitcoin Futures ETF (the "Acquired Fund"), a series of the Teucrium Commodity Trust into the Hashdex Bitcoin Futures ETF (the "Acquiring Fund") a series of Tidal Commodities Trust I, became effective, and therefore, the operations presented here reflect the Aqcuired Fund's operations from January 1, 2024 to January 3, 2024 only. |
Note 3 - Summary of Signific_39
Note 3 - Summary of Significant Accounting Policies - Hashdex Bitcoin Futures ETF (Details Textual) | 3 Months Ended | ||
Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ | $ 0 | $ 0 | |
Money Market Funds, at Carrying Value | $ | $ 105,660,004 | $ 120,047,840 | |
Hashdex Bitcoin Futures ETF [Member] | |||
Authorized Purchaser, Minimum Level of Creation Baskets, Shares (in shares) | shares | 10,000 | ||
Authorized Purchaser, Redemption Baskets, Minimum Blocks of Shares (in shares) | shares | 10,000 | ||
Minimum Level of Shares Per Redemption Basket (in shares) | shares | 50,000 | ||
Minimum Number of RedemptionBaskets | 5 | ||
Money Market Funds, at Carrying Value | $ | $ 1,867,663 | ||
Hashdex Bitcoin Futures ETF [Member] | Teucrium Trading, LLC [Member] | |||
Management Fee, Percentage of Average Daily Net Assets | 0.94% |
Note 3 - Summary of Signific_40
Note 3 - Summary of Significant Accounting Policies - Total Brokerage Commissions Paid - Hashdex Bitcoin Futures ETF (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Brokerage Commissions | $ 31,644 | $ 52,020 |
Hashdex Bitcoin Futures ETF [Member] | ||
Brokerage Commissions | $ 192 | $ 609 |
Note 3 - Summary of Signific_41
Note 3 - Summary of Significant Accounting Policies - Waived Expenses Paid by Sponsor - Hashdex Bitcoin Futures ETF (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Expenses waived by the Sponsor | $ 131,847 | $ 196,064 |
Hashdex Bitcoin Futures ETF [Member] | ||
Expenses waived by the Sponsor | $ 62,309 | $ 70,570 |
Note 4 - Fair Value Measurem_21
Note 4 - Fair Value Measurements - Hashdex Bitcoin Futures ETF (Details Textual) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Assets, Fair Value Disclosure | $ 225,829,780 | $ 265,456,318 |
Hashdex Bitcoin Futures ETF [Member] | ||
Assets, Fair Value Disclosure | 0 | $ 1,997,182 |
Liabilities, Fair Value Disclosure | $ 0 |
Note 4 - Fair Value Measurem_22
Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value - Hashdex Bitcoin Futures ETF (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Cash Equivalents | $ 224,162,062 | $ 263,089,306 |
Total | 225,829,780 | 265,456,318 |
Derivative Liability | 18,352,042 | 10,888,842 |
Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 129,519 | |
Derivative Liability | 51,376 | |
Hashdex Bitcoin Futures ETF [Member] | ||
Cash Equivalents | 1,867,663 | |
Commodity and Cryptocurrency Futures Contracts | 0 | |
Total | 0 | 1,997,182 |
Derivative Liability | 0 | |
Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 129,519 | |
Derivative Liability | 51,376 | |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 224,162,062 | 263,089,306 |
Total | 225,829,780 | 265,456,318 |
Derivative Liability | 18,352,042 | 10,888,842 |
Fair Value, Inputs, Level 1 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 129,519 | |
Derivative Liability | 51,376 | |
Fair Value, Inputs, Level 1 [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Cash Equivalents | 1,867,663 | |
Total | 1,997,182 | |
Fair Value, Inputs, Level 1 [Member] | Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 129,519 | |
Derivative Liability | 51,376 | |
Fair Value, Inputs, Level 2 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Derivative Liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Derivative Liability | 0 | |
Fair Value, Inputs, Level 2 [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Cash Equivalents | 0 | |
Total | 0 | |
Fair Value, Inputs, Level 2 [Member] | Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Derivative Liability | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Cash Equivalents | 0 | 0 |
Total | 0 | 0 |
Derivative Liability | $ 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Derivative Liability | 0 | |
Fair Value, Inputs, Level 3 [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Cash Equivalents | 0 | |
Total | 0 | |
Fair Value, Inputs, Level 3 [Member] | Hashdex Bitcoin Futures ETF [Member] | Bitcoin Futures Contracts [Member] | ||
Commodity and Cryptocurrency Futures Contracts | 0 | |
Derivative Liability | $ 0 |
Note 5 - Derivative Instrume_28
Note 5 - Derivative Instruments and Hedging Activities - Hashdex Bitcoin Futures ETF (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Derivative Liability | $ 18,352,042 | $ 10,888,842 | |
Derivative, Average Notional Amount | 277,800,000 | $ 382,300,000 | |
Hashdex Bitcoin Futures ETF [Member] | |||
Derivative Asset | 0 | ||
Derivative Liability | 0 | ||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 0 | ||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | $ 0 | ||
Derivative, Average Notional Amount | $ 1,700,000 |
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) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Derivative liabilities | $ 18,352,042 | $ 10,888,842 |
Hashdex Bitcoin Futures ETF [Member] | ||
Gross amount of recognized assets | 0 | |
Derivative asset | 0 | |
Gross amount of recognized liabilities | 0 | |
Derivative liabilities | $ 0 | |
Bitcoin Futures Contracts [Member] | ||
Gross amount of recognized assets | 129,519 | |
Gross amount offset, assets | 0 | |
Derivative asset | 129,519 | |
Available for offset, assets | 51,376 | |
Collateral, due to broker, assets | 0 | |
Net amount, assets | 78,143 | |
Gross amount of recognized liabilities | 51,376 | |
Gross amount offset, liabilities | 0 | |
Derivative liabilities | 51,376 | |
Futures contracts available for offset, liabilities | 51,376 | |
Collateral, due from broker, liabilities | 0 | |
Net amount, liabilities | 0 | |
Bitcoin Futures Contracts [Member] | Hashdex Bitcoin Futures ETF [Member] | ||
Gross amount of recognized assets | 129,519 | |
Gross amount offset, assets | 0 | |
Derivative asset | 129,519 | |
Available for offset, assets | 51,376 | |
Collateral, due to broker, assets | 0 | |
Net amount, assets | 78,143 | |
Gross amount of recognized liabilities | 51,376 | |
Gross amount offset, liabilities | 0 | |
Derivative liabilities | 51,376 | |
Futures contracts available for offset, liabilities | 51,376 | |
Collateral, due from broker, liabilities | 0 | |
Net amount, liabilities | $ 0 |
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 ($) | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Realized Gain on Commodity Futures Contracts | $ (17,194,951) | $ (26,591,126) | |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | (7,969,968) | (5,823,279) | |
Hashdex Bitcoin Futures ETF [Member] | |||
Realized Gain on Commodity Futures Contracts | (78,143) | [1] | 629,551 |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 114,383 | [1] | 128,468 |
Bitcoin Futures Contracts [Member] | |||
Realized Gain on Commodity Futures Contracts | (78,143) | 629,551 | |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | 114,383 | 128,468 | |
Bitcoin Futures Contracts [Member] | Hashdex Bitcoin Futures ETF [Member] | |||
Realized Gain on Commodity Futures Contracts | (78,143) | (5,942) | |
Net Change in Unrealized Depreciation on Commodity Futures Contracts | $ 114,383 | $ (14,372) | |
[1]On January 3, 2024, the scheduled merger of the Hashdex Bitcoin Futures ETF (the "Acquired Fund"), a series of the Teucrium Commodity Trust into the Hashdex Bitcoin Futures ETF (the "Acquiring Fund") a series of Tidal Commodities Trust I, became effective, and therefore, the operations presented here reflect the Aqcuired Fund's operations from January 1, 2024 to January 3, 2024 only. |
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) - $ / shares | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Income from investment operations: | |||
Interest income (in dollars per share) | $ 0.17 | $ 0.11 | |
Hashdex Bitcoin Futures ETF [Member] | |||
Net asset value per share at beginning of period (in dollars per share) | 50.74 | 21.4 | |
Income from investment operations: | |||
Interest income (in dollars per share) | 0.02 | 0.27 | |
Net assets transferred to Acquired Fund (in dollars per share) | (51.48) | ||
Net realized and unrealized loss on commodity futures contracts (in dollars per share) | 0.72 | 15.16 | |
Total expenses, net (in dollars per share) | 0 | (0.07) | |
Net (decrease) increase in net asset value (in dollars per share) | (50.74) | 15.36 | |
Net asset value per share at end of period (in dollars per share) | $ 0 | [1],[2] | $ 36.76 |
Total Return | 0% | 71.79% | |
Ratios to Average Net Assets (Annualized) | |||
Total expenses | 286.28% | 20.48% | |
Total expenses, net | 0.92% | 0.94% | |
Net investment income | 4% | 2.78% | |
[1]On January 3, 2024, the scheduled merger of the Hashdex Bitcoin Futures ETF (the “Acquired Fund”), a series of the Teucrium Commodity Trust into the Hashdex Bitcoin Futures ETF (the “Acquiring Fund”), a series of Tidal Commodities Trust I, became effective and therefore, no assets and liabilities remained after the effective date.[2]On September 14, 2022, the Hashdex Bitcoin Futures ETF registered an indeterminate number of shares of the Fund pursuant to Rule 456(d) under the Securities Act of 1933. |