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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2022
FAIR VALUE OF FINANCIAL INSTRUMENTS  
Summarizes of valuation of securities using fair value hierarchy

At December 31, 2022

    

Total

    

Level I

    

Level II

    

Level III

Short-Term Investments

$

856,400,000

$

856,400,000

$

$

Exchange-Traded Futures Contracts

 

 

 

  

 

  

United States Contracts

22,185,936

22,185,936

OTC Commodity Swap Contracts

 

(4,145)

 

 

(4,145)

 

At December 31, 2021

    

Total

    

Level I

    

Level II

    

Level III

Short-Term Investments

$

1,544,534,000

$

1,544,534,000

$

$

Exchange-Traded Futures Contracts

 

 

 

  

 

  

United States Contracts

 

114,437,224

 

114,437,224

 

 

Schedule fair value of derivative instruments

    

    

    

    

Statements of

    

Fair Value

    

Fair Value

 Financial

at December 31, 

at December 31, 

Derivatives not Accounted for as Hedging Instruments

Condition Location

2022

2021

Futures - Commodity Contracts

 

Assets

$

22,185,936

$

114,437,224

Swap - Commodity Contracts

 

Liabilities

$

(4,145)

$

Schedule of derivative instruments on the statements of operations

For the year ended

For the year ended

For the year ended

December 31, 2022

December 31, 2021

December 31, 2020

Change in

Change in

Change in

Location of

Realized

Unrealized

Realized

Unrealized

Realized

Unrealized

Derivatives not

Gain (Loss) 

Gain (Loss)

Gain (Loss) on

Gain (Loss)

Gain (Loss) on

Gain (Loss)

Gain (Loss) on

Accounted for

on Derivatives

on Derivatives

Derivatives

in Derivatives

Derivatives

in Derivatives

Derivatives

as Hedging

Recognized in

Recognized in

Recognized in

Recognized in

Recognized in

Recognized in

Recognized in

Instruments

    

Income

    

Income

    

Income

    

Income

    

Income

    

Income

    

Income

Futures - Commodity Contracts

 

Realized gain (loss) on closed positions

$

874,875,947

 

  

$

1,911,763,583

 

  

$

(2,251,576,260)

 

  

Change in unrealized gain (loss) on open positions

$

(92,251,288)

$

(287,006,734)

$

363,923,391

OTC Swap - Commodity Contracts

Realized gain (loss) on closed positions

$

(13,603,878)

$

$

Change in unrealized gain (loss) on open positions

$

(4,145)

$

$