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Fair Value Measurements (Teucrium Commodity Trust [Member])
 3 Months Ended
Mar. 31, 2013
Teucrium Commodity Trust [Member]
  
Fair Value Measurements

Note 3 - 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 2. The following table presents information about the Trust's assets and liabilities measured at fair value as of March 31, 2013 and December 31, 2012:

 

March 31, 2013

 

                            Balance as of
Assets:   Level 1   Level 2   Level 3   March 31, 2013
Cash equivalents   $ 59,872,747     $ -     $ -     $ 59,872,747
Commodity futures contracts                              
Natural gas futures contracts     268,180       -       -       268,180
WTI crude oil futures contracts     59,032       -       -       59,032
Soybean futures contracts     4,075       -       -       4,075
Total   $ 60,204,034     $ -     $ -     $ 60,204,034
                               
                            Balance as of
Liabilities:   Level 1   Level 2   Level 3   March 31, 2013
Commodity futures contracts                            
Corn futures contracts   $ 1,813,838     $ 1,010,962     $ -     $ 2,824,800
WTI crude oil futures contracts     19,640       -       -       19,640
Soybean futures contracts     78,550       6,850       -       85,400
Sugar futures contracts     201,499       -       -       201,499
Wheat futures contracts     630,063       -       -       630,063
Total   $ 2,743,590     $ 1,017,812     $ -     $ 3,761,402
                               
December 31, 2012                              
                               
                            Balance as of
Assets:   Level 1   Level 2   Level 3   December 31, 2012
Cash equivalents   $ 52,575,291     $ -     $ -     $ 52,575,291
Commodity futures contracts                              
Natural gas futures contracts     9,550       -       -       9,550
WTI crude oil futures contracts     44,872       -       -       44,872
Soybean futures contracts     63,200       -       -       63,200
Wheat futures contracts     15,762       -       -       15,762
Total   $ 52,708,675     $ -     $ -     $ 52,708,675
                               
                            Balance as of
    Level 1   Level 2   Level 3   December 31, 2012
Liabilities:                              
Commodity futures contracts                              
Corn futures contracts   $ 2,213,775     $ -     $ -     $ 2,213,775
Natural gas futures contracts     233,919       -       -       233,919
WTI crude oil futures contracts     58,090       -       -       58,090
Soybean futures contracts     284,575       -       -       284,575
Sugar futures contracts     78,378       -       -       78,378
Wheat futures contracts     206,850       -       -       206,850
Total   $ 3,075,587     $ -     $ -     $ 3,075,587

 

Transfers into and out of each level of the fair value hierarchy for the JUL13 Corn Contracts and the NOV14 Soybean Contracts for the three months ended March 31, 2013 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  
Liabilities (at fair value)                                                
Derivative contracts                                                
Corn future contracts   $ -     $ 1,010,962     $ 1,010,962     $ -     $ -     $ -  
Soybean future contracts   $ -     $ 6,850     $ 6,850     $ -     $ -     $ -  
Total   $ -     $ 1,017,812     $ 1,017,812     $ -     $ -     $ -  

 

 

There were no transfers into and out of each level of the fair value hierarchy for the Trust or the Funds for the three months ended March 31, 2012.