XML 97 R32.htm IDEA: XBRL DOCUMENT v2.4.0.6
Fair Value Measurements (Teucrium Corn Fund [Member])
 3 Months Ended
Mar. 31, 2013
Teucrium Corn 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   $ 39,167,369     $ -     $ -     $ 39,167,369  
                                 
                Balance as of  
Liabilities:   Level 1   Level 2   Level 3   March 31, 2013  
Commodity futures contracts   $ 1,813,838     $ 1,010,962     $ -     $ 2,824,800  
                                 
                   
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  
                                 

 

Transfers into and out of each level of the fair value hierarchy for the JUL13 Corn 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     $ -     $ -     $ -  

 

 

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.