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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS |
Schedule of UNL's Securities Using the Fair Value Hierarchy | The following table summarizes the valuation of UNL’s securities at December 31, 2021 using the fair value hierarchy: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2021 |  | Total |  | Level I |  | Level II |  | Level III
Short-Term Investments | ​ | $ | 14,000,000 | ​ | $ | 14,000,000 | ​ | $ | — | ​ | $ | —
Exchange-Traded Futures Contracts | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |
United States Contracts | ​ |  | 548,509 | ​ |  | 548,509 | ​ |  | — | ​ |  | —
​ The following table summarizes the valuation of UNL’s securities at December 31, 2020 using the fair value hierarchy: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2020 |  | Total |  | Level I |  | Level II |  | Level III
Short-Term Investments | ​ | $ | 1,000,000 | ​ | $ | 1,000,000 | ​ | $ | — | ​ | $ | —
Exchange-Traded Futures Contracts | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
United States Contracts | ​ |  | (21,964) | ​ |  | (21,964) | ​ |  | — | ​ |  | —
​
Schedule of Fair Value of Derivative Instruments | Fair Value of Derivative Instruments ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Statements of | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Financial | ​ | Fair Value at | ​ | Fair Value at
​ |  | Condition |  | December 31, |  | December 31,
Derivatives not Accounted for as Hedging Instruments |  | Location |  | 2021 |  | 2020
Futures - Commodity Contracts |  | Assets | ​ | $ | 548,509 | ​ | $ | (21,964)
​ ​
Schedule of Effect of Derivative Instruments on the Statements of Operations | The Effect of Derivative Instruments on the Statements of Operations ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | For the year ended |  | For the year ended |  | For the year ended
​ | ​ | ​ | ​ | December 31, | ​ | December 31, | ​ | December 31,
​ | ​ | ​ | ​ | 2021 | ​ | 2020 | ​ | 2019
​ | ​ | ​ | ​ | ​ | ​ | Change in | ​ | ​ | ​ | Change in | ​ | ​ | ​ | Change in
​ |  | ​ |  | ​ |  | Unrealized |  | Realized |  | Unrealized |  | Realized |  | Unrealized
Derivatives | ​ | Location of | ​ | Realized | ​ | Gain | ​ | Gain | ​ | Gain | ​ | Gain | ​ | Gain
not | ​ | Gain (Loss) | ​ | gain (Loss) on | ​ | (Loss) on | ​ | (Loss) in | ​ | (Loss) on | ​ | (Loss) in | ​ | (Loss) on
Accounted | ​ | on | ​ | Derivatives | ​ | Derivatives | ​ | Derivatives | ​ | Derivatives | ​ | Derivatives | ​ | Derivatives
for as | ​ | Derivatives | ​ | Recognized | ​ | Recognized | ​ | Recognized | ​ | Recognized | ​ | Recognized | ​ | Recognized
Hedging | ​ | Recognized | ​ | in | ​ | in | ​ | in | ​ | in | ​ | in | ​ | in
Instruments |  | in Income |  | Income |  | Income |  | Income |  | Income |  | Income |  | Income
Futures - Commodity Contracts |  | Realized gain (loss) on closed positions | ​ | $ | 2,685,138 | ​ | ​ | ​ | ​ | $ | (608,115) |  | ​ |  | ​ | $ | (479,014) |  | ​ |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Change in unrealized gain (loss) on open positions | ​ | ​ | ​ | ​ | $ | 570,473 | ​ | ​ | ​ | ​ | $ | 413,714 | ​ | ​ | ​ | ​ | $ | (389,575)

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=123874694&loc=SL7498348-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
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