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

Note 3 - 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 2. The following table presents information about the Fund'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   $ 6,175,074     $ -     $ -     $ 6,175,074  
Commodity futures contracts     4,075       -       -       4,075  
Total   $ 6,179,149     $ -     $ -     $ 6,179,149  
                 

 

               Balance as of
Liabilities:   Level 1   Level 2   Level 3   March 31, 2013
Commodity futures contracts   $ 78,550     $ 6,850     $ -     $ 85,400  
                                 
December 31, 2012                
                Balance as of
Assets:   Level 1   Level 2   Level 3   December 31, 2012
Cash equivalents   $ 6,169,205     $ -     $ -     $ 6,169,205  
Commodity futures contracts     63,200       -       -       63,200  
Total   $ 6,232,405     $ -     $ -     $ 6,232,405  
                                 
                              Balance as of  
Liabilities     Level 1       Level 2       Level 3       December 31, 2012  
Commodity futures contracts   $ 284,575     $ -     $ -     $ 284,575  

 

 

Transfers into and out of each level of the fair value hierarchy for 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                                                
Soybean future contracts   $ -     $ 6,850     $ 6,850     $ -     $ -     $ -  

 

 

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