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Fair Value Measurements (Teucrium Corn Fund [Member])
 12 Months Ended
Dec. 31, 2012
Teucrium Corn Fund [Member]
  
Fair Value Measurements

Note 3 - Fair Value Measurements

 

The Corn Fund's assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Corn Fund's significant accounting policies in Note 2. The following table presents information about the Corn Fund's assets and liabilities measured at fair value as of December 31, 2012 and 2011:

                   
December 31, 2012                  
                Balance as of  
Assets:   Level 1   Level 2   Level 3   December 31, 2012  
Cash equivalents   $ 34,631,982     $ -     $ -     $ 34,631,982  
                                 

 

                Balance as of  
Liabilities:   Level 1   Level 2   Level 3   December 31, 2012  
Commodity futures contracts   $ 2,213,775     $ -     $ -     $ 2,213,775  
                                 

 

December 31, 2011                  
                Balance as of  
Assets:   Level 1   Level 2   Level 3   December 31, 2011  
Cash equivalents   $ 69,022,336     $ -     $ -     $ 69,022,336  
Commodity futures contracts     1,928,408       -       -       1,928,408  
Total   $ 70,950,744     $ -     $ -     $ 70,950,744  

 

                Balance as of  
Liabilities:   Level 1   Level 2   Level 3   December 31, 2011  
Commodity futures contracts   $ 2,711,523     $ -     $ -     $ 2,711,523  
                                 

 

There were no transfers into and out of each level of the fair value hierarchy for the commodity futures contracts valued using alternative verifiable sources due to a "limit-down" condition for the period January 1, 2012 through December 31, 2012.

 

Transfers into and out of each level of the fair value hierarchy for the corn futures contracts valued using alternative verifiable sources due to a "limit-down" condition for the period January 1, 2011 through December 31, 2011 were as follows:

 

    Transfers     Transfers     Transfers     Transfers     Transfers     Transfers  
    into     out of     into     out of     into     out of  
    Level 1     Level 1     Level 2     Level 2     Level 3     Level 3  
Assets (at fair value)                                    
Derivative contracts                                    
Corn future contracts   $ 9,140,288     $ 9,140,288     $ 9,140,288     $ 9,140,288     $ -     $ -  
                                                 

 

    Transfers     Transfers     Transfers     Transfers     Transfers     Transfers  
    into     out of     into     out of     into     out of  
    Level 1     Level 1     Level 2     Level 2     Level 3     Level 3  
Liabilities (at fair value)                                    
Derivative contracts                                    
Corn future contracts   $ 5,938,713     $ 5,938,713     $ 5,938,713     $ 5,938,713     $ -     $ -