<SEC-DOCUMENT>0000891092-14-002433.txt : 20140328
<SEC-HEADER>0000891092-14-002433.hdr.sgml : 20140328
<ACCEPTANCE-DATETIME>20140328120729
ACCESSION NUMBER:		0000891092-14-002433
CONFORMED SUBMISSION TYPE:	POS AM
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20140328
DATE AS OF CHANGE:		20140328

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Teucrium Commodity Trust
		CENTRAL INDEX KEY:			0001471824
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		POS AM
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-167591
		FILM NUMBER:		14724324

	BUSINESS ADDRESS:	
		STREET 1:		232 HIDDEN LAKE ROAD
		CITY:			BRATTLEBORO
		STATE:			VT
		ZIP:			05301
		BUSINESS PHONE:		802-257-1617

	MAIL ADDRESS:	
		STREET 1:		232 HIDDEN LAKE ROAD
		CITY:			BRATTLEBORO
		STATE:			VT
		ZIP:			05301
</SEC-HEADER>
<DOCUMENT>
<TYPE>POS AM
<SEQUENCE>1
<FILENAME>e58209posam.htm
<DESCRIPTION>POST-EFFECTIVE AMENDMENT NO. 4
<TEXT>
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<TITLE></TITLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B> As filed with the Securities and Exchange
Commission on March 28, 2014 </B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Registration No. 333-167591<FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">
</FONT></B></P>

<HR SIZE="2" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B> Post-Effective Amendment No. 4 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>to</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM S-1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933</B>&nbsp;</P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 20%; color: black">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Teucrium Commodity Trust</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Registrant)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Delaware</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(State or other jurisdiction of incorporation
or organization)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>6799</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Primary Standard Industrial Classification
Code Number)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>27-6715895</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(I.R.S. Employer Identification No.)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>c/o Teucrium Trading, LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>232 Hidden Lake Road</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Building A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Brattleboro, Vermont 05301</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Phone: (802)&nbsp;257-1617</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Address, including zip code, and telephone
number, including area code, of Registrant&rsquo;s principal executive offices)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 20%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Dale Riker</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Chief Executive Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Teucrium Trading, LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>232 Hidden Lake Road</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Building A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Brattleboro, Vermont 05301</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Phone: (802)&nbsp;257-1617</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Name, address, including zip code, and telephone
number, including area code, of agent for service)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>Copy to:</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B> W. Thomas Conner, Esq. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Reed Smith LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1301 K Street, N. W.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Suite 1100, East Tower</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington DC 20005-3317</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Approximate date of commencement of proposed
sale to the public:&nbsp;As soon as practicable after the effective date of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If any of the securities being registered on
this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following
box.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If this Form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If this Form is a post-effective amendment filed
pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number
of the earlier effective registration statement for the same offering.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If this Form is a post-effective amendment filed
pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number
of the earlier effective registration statement for the same offering.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company under Rule 12b-2 of
the Securities Exchange Act of 1934.&nbsp;&nbsp;(Check one):</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%"><FONT STYLE="font-size: 10pt">Large accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD>
    <TD STYLE="width: 23%"><FONT STYLE="font-size: 10pt">Accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT></FONT></TD>
    <TD STYLE="width: 30%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Non-accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Smaller reporting company&nbsp;&nbsp;&nbsp; <FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The registrant hereby amends this Registration
Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment
which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of
the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the Securities and Commission,
acting pursuant to said Section 8(a), may determine.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Teucrium Wheat Fund</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>10,000,000 Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Teucrium Wheat Fund (the &ldquo;Fund&rdquo;
or &ldquo;Us&rdquo; or &ldquo;We&rdquo;) is a commodity pool that is a series of Teucrium Commodity Trust (&ldquo;Trust&rdquo;),
a Delaware statutory trust.&nbsp;&nbsp;The Fund issues common units representing fractional undivided beneficial interests in such
Fund, called &ldquo;Shares.&rdquo;&nbsp;&nbsp;The Fund offers creation baskets consisting of 25,000 Shares (&ldquo;Creation Baskets&rdquo;)
at their net asset value (&ldquo;NAV&rdquo;) to &ldquo;Authorized Purchasers&rdquo; (as defined below). Authorized Purchasers,
in turn, may offer to the public Shares of any baskets they create. Authorized Purchasers sell such Shares, which are listed on
the NYSE Arca exchange (&ldquo;NYSE Arca&rdquo;), to the public at per-Share offering prices that are expected to reflect, among
other factors, the trading price of the Shares on the NYSE Arca, the NAV of the Fund at the time the Authorized Purchaser purchased
the Creation Baskets and the NAV at the time of the offer of the Shares to the public, the supply of and demand for Shares at the
time of sale, and the liquidity of the markets for wheat interests. A list of the Fund&rsquo;s Authorized Purchasers as of the
date of this Prospectus can be found under Plan of Distribution - Distributor and Authorized Purchasers, on page 57 . The prices
of Shares offered by Authorized Purchasers are expected to fall between the Fund&rsquo;s NAV and the trading price of the Shares
on the NYSE Arca at the time of sale.&nbsp;&nbsp;The Fund&rsquo;s Shares may trade in the secondary market on the NYSE Arca at
prices that are lower or higher than their NAV per Share.&nbsp;&nbsp;Fund Shares are listed on the NYSE Arca under the symbol &ldquo;WEAT.&rdquo; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund&rsquo;s sponsor is Teucrium Trading,
LLC (the &ldquo;Sponsor&rdquo;). The investment objective of the Fund is to have the daily changes in percentage terms of the Fund&rsquo;s
NAV per Share reflect the daily changes in percentage terms of a weighted average of the closing settlement prices for three wheat
futures contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This is a best efforts offering; the Distributor,
Foreside Fund Services, LLC (the &ldquo;Distributor&rdquo;) is not required to sell any specific number or dollar amount of Shares,
but will use its best efforts to sell Shares.&nbsp;&nbsp;An Authorized Purchaser is under no obligation to purchase Shares.&nbsp;&nbsp;This
is intended to be a continuous offering that will terminate on June 13, 2014 unless suspended or terminated at any earlier time
for certain reasons specified in this prospectus or unless extended as permitted under the rules under the Securities Act of 1933.&nbsp;&nbsp;&nbsp;See
&ldquo;Prospectus Summary &ndash; The Shares&rdquo; and &ldquo;Creation and Redemption of Shares &ndash; Rejection of Purchase
Orders&rdquo; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B> Investing in the Fund involves significant
risks.&nbsp;&nbsp;See &ldquo;What Are the Risk Factors Involved with an Investment in the Fund?&rdquo; beginning on page 13.&nbsp;&nbsp;The
Fund is not a mutual fund registered under the Investment Company Act of 1940 and is not subject to regulation under such Act. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>NEITHER THE SECURITIES AND EXCHANGE COMMISSION
(&ldquo;SEC&rdquo;) NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OFFERED IN THIS PROSPECTUS,
OR DETERMINED IF THIS PROSPECTUS IS TRUTHFUL OR COMPLETE.&nbsp;&nbsp;ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>THE COMMODITY FUTURES TRADING COMMISSION
HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN THIS POOL NOR HAS THE COMMISSION PASSED ON THE ADEQUACY OR ACCURACY OF THIS
DISCLOSURE DOCUMENT.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>This prospectus is in two parts: a disclosure
document and a statement of additional information. These parts are bound together, and both contain important information.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Per share</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Per Basket</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="width: 437px"><FONT STYLE="font-size: 10pt">Price of the Shares*</FONT></TD>
    <TD STYLE="width: 5px">&nbsp;</TD>
    <TD STYLE="width: 7px"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 51px; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 5px">&nbsp;</TD>
    <TD STYLE="width: 5px">&nbsp;</TD>
    <TD STYLE="width: 7px"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="width: 5px">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>





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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B> </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B> * </B> Based on closing net asset value on April _,
2014. The price may vary based on net asset value in effect on a particular day. No commissions or discounts are paid to Authorized
Purchasers in connection with the sale of Creation Baskets. The Sponsor pays certain fees to the Distributor. See &ldquo;The Offering
&ndash; Plan of Distribution&rdquo; on page 57. </P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> The date of this prospectus is April 30,
2014. </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>COMMODITY FUTURES TRADING COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>RISK DISCLOSURE STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>YOU SHOULD CAREFULLY CONSIDER WHETHER YOUR
FINANCIAL CONDITION PERMITS YOU TO PARTICIPATE IN A COMMODITY POOL.&nbsp;&nbsp;IN SO DOING, YOU SHOULD BE AWARE THAT COMMODITY
INTEREST TRADING CAN QUICKLY LEAD TO LARGE LOSSES AS WELL AS GAINS.&nbsp;&nbsp;SUCH TRADING LOSSES CAN SHARPLY REDUCE THE NET ASSET
VALUE OF THE POOL AND CONSEQUENTLY THE VALUE OF YOUR INTEREST IN THE POOL.&nbsp;&nbsp;IN ADDITION, RESTRICTIONS ON REDEMPTIONS
MAY AFFECT YOUR ABILITY TO WITHDRAW YOUR PARTICIPATION IN THE POOL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B> FURTHER, COMMODITY POOLS MAY BE SUBJECT
TO SUBSTANTIAL CHARGES FOR MANAGEMENT, AND ADVISORY AND BROKERAGE FEES.&nbsp;&nbsp;IT MAY BE NECESSARY FOR THOSE POOLS THAT ARE
SUBJECT TO THESE CHARGES TO MAKE SUBSTANTIAL TRADING PROFITS TO AVOID DEPLETION OR EXHAUSTION OF THEIR ASSETS.&nbsp;&nbsp;THIS
DISCLOSURE DOCUMENT CONTAINS A COMPLETE DESCRIPTION OF EACH EXPENSE TO BE CHARGED THIS POOL AT PAGE&nbsp;54 AND A STATEMENT OF
THE PERCENTAGE RETURN NECESSARY TO BREAK EVEN, THAT IS, TO RECOVER THE AMOUNT OF YOUR INITIAL INVESTMENT, AT PAGE 8. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B> THIS BRIEF STATEMENT CANNOT DISCLOSE ALL
THE RISKS AND OTHER FACTORS NECESSARY TO EVALUATE YOUR PARTICIPATION IN THIS COMMODITY POOL.&nbsp;&nbsp;THEREFORE, BEFORE YOU DECIDE
TO PARTICIPATE IN THIS COMMODITY POOL, YOU SHOULD CAREFULLY STUDY THIS DISCLOSURE DOCUMENT, INCLUDING A DESCRIPTION OF THE PRINCIPAL
RISK FACTORS OF THIS INVESTMENT, AT PAGE&nbsp;13. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>YOU SHOULD ALSO BE AWARE THAT THIS COMMODITY
POOL MAY TRADE FOREIGN FUTURES OR OPTIONS CONTRACTS.&nbsp;&nbsp;TRANSACTIONS ON MARKETS LOCATED OUTSIDE THE UNITED STATES, INCLUDING
MARKETS FORMALLY LINKED TO A UNITED STATES MARKET, MAY BE SUBJECT TO REGULATIONS WHICH OFFER DIFFERENT OR DIMINISHED PROTECTION
TO THE POOL AND ITS PARTICIPANTS.&nbsp;&nbsp;FURTHER, UNITED STATES REGULATORY AUTHORITIES MAY BE UNABLE TO COMPEL THE ENFORCEMENT
OF THE RULES OF REGULATORY AUTHORITIES OR MARKETS IN NON-UNITED STATES JURISDICTIONS WHERE TRANSACTIONS FOR THE POOL MAY BE EFFECTED.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>SWAPS TRANSACTIONS, LIKE OTHER FINANCIAL
TRANSACTIONS, INVOLVE A VARIETY OF SIGNIFICANT RISKS. THE SPECIFIC RISKS PRESENTED BY A PARTICULAR SWAP TRANSACTION NECESSARILY
DEPEND UPON THE TERMS OF THE TRANSACTION AND YOUR CIRCUMSTANCES. IN GENERAL, HOWEVER, ALL SWAPS TRANSACTIONS INVOLVE SOME COMBINATION
OF MARKET RISK, CREDIT RISK, COUNTERPARTY CREDIT RISK, FUNDING RISK, LIQUIDITY RISK, AND OPERATIONAL RISK. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>HIGHLY CUSTOMIZED SWAPS TRANSACTIONS IN PARTICULAR
MAY INCREASE LIQUIDITY RISK, WHICH MAY RESULT IN A SUSPENSION OF REDEMPTIONS. HIGHLY LEVERAGED TRANSACTIONS MAY EXPERIENCE SUBSTANTIAL
GAINS OR LOSSES IN VALUE AS A RESULT OF RELATIVELY SMALL CHANGES IN THE VALUE OR LEVEL OF AN UNDERLYING OR RELATED MARKET FACTOR.
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>IN EVALUATING THE RISKS AND CONTRACTUAL OBLIGATIONS
ASSOCIATED WITH A PARTICULAR SWAP TRANSACTION, IT IS IMPORTANT TO CONSIDER THAT A SWAP TRANSACTION MAY BE MODIFIED OR TERMINATED
ONLY BY MUTUAL CONSENT OF THE ORIGINAL PARTIES AND SUBJECT TO AGREEMENT ON INDIVIDUALLY</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>NEGOTIATED TERMS. THEREFORE, IT MAY NOT BE POSSIBLE FOR THE COMMODITY
POOL OPERATOR TO MODIFY, TERMINATE, OR OFFSET THE POOL'S OBLIGATIONS OR THE POOL'S EXPOSURE TO THE RISKS ASSOCIATED WITH A TRANSACTION
PRIOR TO ITS SCHEDULED TERMINATION DATE.&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TEUCRIUM WHEAT FUND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="width: 91%"><FONT STYLE="font-size: 10pt"><A HREF="#a_001">STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</A></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 10pt">iii</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_006">PROSPECTUS SUMMARY</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_007">Principal Offices of the Fund and the Sponsor</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_008">Breakeven Point</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_009">Overview of the Fund</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_010">The Shares</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">4</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_011">The Fund&rsquo;s Investments in Wheat Interests</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_012">Principal Investment Risks of an Investment in the Fund</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_013">Financial Condition of the Fund</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_014">Defined Terms</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_015">Breakeven Analysis</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_023">The Offering</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">9</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_016">WHAT ARE THE RISK FACTORS INVOLVED WITH AN INVESTMENT IN THE FUND?</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">13</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_017">Risks Associated With Investing Directly or Indirectly in Wheat</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">13</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_018">The Fund&rsquo;s Operating Risks</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">18</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_019">Risk of Leverage and Volatility</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">26</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_020">Over-the-Counter Contract Risk</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">27</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_021">Risk of Trading in International Markets</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">28</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_022">Tax Risk</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">28</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_023">THE OFFERING</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">30</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_024">The Fund in General</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">30</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_024">The Sponsor</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">30</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_026">The Trustee</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">41</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_027">Operation of the Fund</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">41</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_029">Futures Contracts</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">46</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_030">Cleared Wheat Swaps</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">48</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_031">Over-the-Counter Derivatives</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">48</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_032">Benchmark Performance</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">50</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_033">The Wheat Market</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">50</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_034">The Fund&rsquo;s Investments in Treasury Securities, Cash and Cash Equivalents</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">51</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_035">Other Trading Policies of the Fund</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">51</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_036">The Service Providers</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">53</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_037">Fees to be Paid by the Fund</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">54</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_038">Form of Shares</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">55</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_039">Transfer of Shares</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">56</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_040">Inter-Series Limitation on Liability</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">56</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_041">Plan of Distribution</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">57</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_042">The Flow of Shares</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">60</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_043">Calculating NAV</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">60</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_044">Creation and Redemption of Shares</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">61</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_045">Secondary Market Transactions</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">65</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_069">Use of Proceeds</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">66</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_046">Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">67</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_047">The Trust Agreement</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">73</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_048">The Sponsor Has Conflicts of Interest</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">78</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_049">Interests of Named Experts and Counsel</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">79</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_050">Provisions of Federal and State Securities Laws</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">79</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_051">Books and Records</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">80</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_052">Analysis of Critical Accounting Policies</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">80</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_053">Statements, Filings, and Reports to Shareholders</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">80</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #C0FFC0">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_054">Fiscal Year</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">80</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="width: 91%; padding-left: 9pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_055">Governing Law; Consent to Delaware Jurisdiction</A></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 10pt">81</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_056">Security Ownership of Principal Shareholders and Management</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">81</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_057">Legal Matters</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">81</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_058">Privacy Policy</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">81</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_059">U.S. Federal Income Tax Considerations</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">83</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#a_060">Investment By ERISA Accounts</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">93</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_061">INCORPORATION BY REFERENCE OF CERTAIN INFORMATION</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">96</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_062">INFORMATION YOU SHOULD KNOW</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">96</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_063">WHERE YOU CAN FIND MORE INFORMATION</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">97</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_064">APPENDIX A Glossary Of Defined Terms</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">98</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>








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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> <BR CLEAR="ALL">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_001"></A>STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This prospectus includes &ldquo;forward-looking
statements&rdquo; which generally relate to future events or future performance. In some cases, you can identify forward-looking
statements by terminology such as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;should,&rdquo; &ldquo;expect,&rdquo; &ldquo;plan,&rdquo;
&ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo; &ldquo;predict,&rdquo; &ldquo;potential&rdquo; or the
negative of these terms or other comparable terminology. All statements (other than statements of historical fact) included in
this prospectus that address activities, events or developments that will or may occur in the future, including such matters as
movements in the commodities markets and indexes that track such movements, the Fund&rsquo;s operations, the Sponsor&rsquo;s plans
and references to the Fund&rsquo;s future success and other similar matters, are forward-looking statements. These statements are
only predictions. Actual events or results may differ materially. These statements are based upon certain assumptions and analyses
the Sponsor has made based on its perception of historical trends, current conditions and expected future developments, as well
as other factors appropriate in the circumstances. Whether or not actual results and developments will conform to the Sponsor&rsquo;s
expectations and predictions, however, is subject to a number of risks and uncertainties, including the special considerations
discussed in this prospectus, general economic, market and business conditions, changes in laws or regulations, including those
concerning taxes, made by governmental authorities or regulatory bodies, and other world economic and political developments. See
&ldquo;What Are the Risk Factors Involved with an Investment in the Fund?&rdquo; Consequently, all the forward-looking statements
made in this prospectus are qualified by these cautionary statements, and there can be no assurance that actual results or developments
the Sponsor anticipates will be realized or, even if substantially realized, that they will result in the expected consequences
to, or have the expected effects on, the Fund&rsquo;s operations or the value of its Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_006"></A>PROSPECTUS SUMMARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I> This is only a summary of the prospectus
and, while it contains material information about the Fund and its Shares, it does not contain or summarize all of the information
about the Fund and the Shares contained in this prospectus that is material and/or which may be important to you. You should read
this entire prospectus, including &ldquo;What Are the Risk Factors Involved with an Investment in the Fund?&rdquo; beginning on
page&nbsp;13, before making an investment decision about the Shares.&nbsp;&nbsp;In addition, this prospectus includes a statement
of additional information that follows and is bound together with the primary disclosure document.&nbsp;&nbsp;Both the primary
disclosure document and the statement of additional information contain important information. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_007"></A>Principal Offices of the Fund and the Sponsor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The principal office of the Trust and the Fund
is located at 232 Hidden Lake Road, Building A, Brattleboro, Vermont 05301.&nbsp;&nbsp;The telephone number is (802) 257-1617.&nbsp;&nbsp;The
Sponsor&rsquo;s principal office is also located at 232 Hidden Lake Road, Building A, Brattleboro, Vermont 05301, and its telephone
number is also (802) 257-1617.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_008"></A>Breakeven Point</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The amount of trading income required for
the redemption value of a Share at the end of one year to equal the selling price of the Share, assuming a selling price of $13.44,
(the NAV per share as of January 31, 2014), is $0.33 or 2.46% of the selling price.&nbsp;&nbsp;For more information, see &ldquo;Breakeven
Analysis&rdquo; below. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_009"></A>Overview of the Fund</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Teucrium Wheat Fund (the &ldquo;Fund&rdquo;
or &ldquo;Us&rdquo; or &ldquo;We&rdquo;), is a commodity pool that issues Shares that may be purchased and sold on the NYSE Arca.&nbsp;&nbsp;The
Fund is a series of the Teucrium Commodity Trust (&ldquo;Trust&rdquo;), a Delaware statutory trust organized on September 11, 2009.&nbsp;&nbsp;The
Fund is one of seven series of the Trust; each series operates as a separate commodity pool.&nbsp;&nbsp;Additional series of the
Trust may be created in the future.&nbsp;The Trust and the Fund operate pursuant to the Trust&rsquo;s Second Amended and Restated
Declaration of Trust and Trust Agreement (the &ldquo;Trust Agreement&rdquo;).&nbsp;&nbsp;The Fund was formed and is managed and
controlled by the Sponsor, Teucrium Trading, LLC.&nbsp;&nbsp;The Sponsor is a limited liability company formed in Delaware on July
28, 2009 that is registered as a commodity pool operator (&ldquo;CPO&rdquo;) with the Commodity Futures Trading Commission (&ldquo;CFTC&rdquo;)
and is a member of the National Futures Association (&ldquo;NFA&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The investment objective of the Fund is to have
the daily changes in percentage terms of the Shares&rsquo; NAV reflect the daily changes in percentage terms of a weighted average
of the closing settlement prices for three futures contracts for wheat (&ldquo;Wheat Futures Contracts&rdquo;) that are traded
on the Chicago Board of Trade (&ldquo;CBOT&rdquo;), specifically: (1) the second-to-expire CBOT Wheat Futures Contract, weighted
35%, (2) the third-to-expire CBOT Wheat Futures Contract, weighted 30%, and (3) the CBOT Wheat Futures Contract expiring in the
December following the expiration month of the third-to-expire contract, weighted 35%. (This weighted average of the three referenced
Wheat Futures Contracts is referred to herein as the &ldquo;Benchmark,&rdquo; and the three Wheat Futures Contracts that at any
given time make up the Benchmark are referred to herein as the &ldquo;Benchmark Component Futures Contracts.&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund seeks to achieve its investment objective
by investing under normal market conditions in Benchmark Component Futures Contracts or, in certain circumstances, in other Wheat
Futures Contracts traded on the CBOT, the Kansas City Board of Trade, the Minneapolis Grain Exchange, or the Intercontinental Exchange
(&ldquo;ICE&rdquo;), or on foreign exchanges. In addition, and to a limited extent, the Fund also may invest in exchange-traded
options on Wheat Futures Contracts and in wheat-based swap agreements that are cleared through the CBOT or its affiliated provider
of clearing services (&ldquo;Cleared Wheat Swaps&rdquo;) in furtherance of the Fund's investment objective.&nbsp;&nbsp;Once position
limits in CBOT Wheat Futures Contracts are applicable, the Fund's intention is to invest first in Cleared Wheat Swaps to the extent
permitted by the position limits applicable to Cleared Wheat Swaps and appropriate in light of the liquidity in the Cleared Wheat
Swap market, and then in</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">contracts and instruments such as forward contracts, swaps other
than Cleared Wheat Swaps, and other over-the-counter transactions that are based on the price of wheat and Wheat Futures Contracts
(collectively, &ldquo;Other Wheat Interests,&rdquo; and together with Wheat Futures Contracts and Cleared Wheat Swaps, &ldquo;Wheat
Interests&rdquo;).&nbsp;&nbsp;See &ldquo;The Offering &ndash; Futures Contracts&rdquo; below.&nbsp;&nbsp;By utilizing certain or
all of these investments, the Sponsor will endeavor to cause the Fund's performance to closely track that of the Benchmark.&nbsp;&nbsp;The
Sponsor expects to manage the Fund&rsquo;s investments directly, although it has been authorized by the Trust to retain, establish
the terms of retention for, and terminate third-party commodity trading advisors to provide such management.&nbsp;&nbsp;The Sponsor
is also authorized to select futures commission merchants (&ldquo;FCMs&rdquo;) to execute the Fund&rsquo;s transactions in Wheat
Futures Contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Wheat Futures Contracts traded on the CBOT expire
on a specified day in five different months:&nbsp;&nbsp;March, May, July, September and December.&nbsp;&nbsp;For example, in terms
of the Benchmark, in July of a given year the next-to-expire or &ldquo;spot month&rdquo; Wheat Futures Contract will expire in
July of that year, and the Benchmark Component Futures Contracts will be the contracts expiring in September of that year (the
second-to-expire contract), December of that year (the third-to-expire contract), and December of the following year.&nbsp;&nbsp;As
another example, in November of a given year, the Benchmark Component Futures Contracts will be the contracts expiring in March,
May and December of the following year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund seeks to achieve its investment objective
primarily by investing in Wheat Interests such that daily changes in the Fund&rsquo;s NAV are expected to closely track the changes
in the Benchmark.&nbsp;&nbsp;The Fund&rsquo;s positions in Wheat Interests are changed or &ldquo;rolled&rdquo; on a regular basis
in order to track the changing nature of the Benchmark.&nbsp;&nbsp;For example, five times a year (on the date on which a Wheat
Futures Contract expires), the second-to-expire Wheat Futures Contract will become the next-to-expire Wheat Futures Contract and
will no longer be a Benchmark Component Futures Contract, and the Fund&rsquo;s investments will have to be changed accordingly.&nbsp;&nbsp;In
order that the Fund&rsquo;s trading does not cause unwanted market movements and to make it more difficult for third parties to
profit by trading based on such expected market movements, the Fund&rsquo;s investments may not be rolled entirely on that day,
but rather may be rolled over a period of several days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Fund incurs certain expenses in connection
with its operations, and holds most of its assets in income-producing, short-term securities for margin and other liquidity purposes
and to meet redemptions that may be necessary on an ongoing basis. These expenses and income cause imperfect correlation between
changes in the Fund&rsquo;s NAV and changes in the Benchmark, because the Benchmark does not reflect expenses or income. Investors
should be aware that because the Fund incurs certain expenses on an ongoing basis, they may incur a partial or complete loss of
their investment even when the performance of the Benchmark is positive. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> In seeking to achieve the Fund&rsquo;s investment
objective of tracking the Benchmark, the Sponsor may for certain reasons cause the Fund to enter into or hold Wheat Futures Contracts
other than the Benchmark Component Futures Contracts, Cleared Wheat Swaps and/or Other Wheat Interests.&nbsp;&nbsp;For example,
certain Cleared Wheat Swaps have standardized terms similar to, and are priced by reference to, a corresponding Benchmark Component
Futures Contract.&nbsp;&nbsp;Additionally, Other Wheat Interests that do not have standardized terms and are not exchange-traded,
referred to as &ldquo;over-the-counter&rdquo; Wheat Interests, can generally be structured as the parties to the Wheat Interest
contract desire.&nbsp;&nbsp;Therefore, the Fund might enter into multiple Cleared Wheat Swaps and/or over-the-counter Wheat Interests
intended to exactly replicate the performance of each of the three Benchmark Component Futures Contracts, or a single over-the-counter
Wheat Interest designed to replicate the performance of the Benchmark as a whole.&nbsp;&nbsp;Assuming that there is no default
by a counterparty to an over-the-counter Wheat Interest, the performance of the Wheat Interest will necessarily correlate exactly
with the performance of the Benchmark or the applicable Benchmark Component Futures Contract.&nbsp;&nbsp;The Fund&rsquo;s might
also enter into or hold Wheat Interests other than Benchmark Component Futures Contracts to facilitate effective trading, consistent
with the discussion of the Fund&rsquo;s &ldquo;roll&rdquo; strategy in the preceding paragraph.&nbsp;&nbsp;In addition, the Fund
might enter into or hold Wheat Interests that would be expected to&nbsp;alleviate overall deviation between the Fund&rsquo;s performance
and that of the Benchmark that may result from certain market and trading inefficiencies or other reasons.&nbsp;&nbsp;By utilizing
certain or all of the investments described above, the Sponsor endeavors to cause the Fund&rsquo;s performance to closely track
that of the Benchmark. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund invests in Wheat Interests to the fullest
extent possible without being leveraged or unable to satisfy its expected current or potential margin or collateral obligations
with respect to its investments in Wheat Interests.&nbsp;&nbsp;After fulfilling such margin and collateral requirements, the Fund
invests the remainder of its proceeds from the sale of baskets in obligations of the United States government (&ldquo;Treasury
Securities&rdquo;) or cash equivalents, and/or merely hold such assets in cash (generally in interest-bearing accounts).&nbsp;&nbsp;Therefore,
the focus of the Sponsor in managing the Fund is investing in Wheat Interests and in Treasury Securities, cash and/or cash equivalents.&nbsp;&nbsp;The
Fund earns interest income from the Treasury Securities and/or cash equivalents that it purchases and on the cash it holds through
the Fund&rsquo;s custodian, the Bank of New York Mellon (the &ldquo;Custodian&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor endeavors to place the Fund&rsquo;s
trades in Wheat Interests and otherwise manage the Fund&rsquo;s investments so that the Fund&rsquo;s average daily tracking error
against the Benchmark will be less than 10 percent over any period of 30 trading days.&nbsp;&nbsp;More specifically, the Sponsor
endeavors to manage the Fund so that A will be within plus/minus 10 percent of B, where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">A is the average daily change in the Fund&rsquo;s NAV for any period of 30 successive valuation days, i.e., any trading day as of which the Fund calculates its NAV, and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">B is the average daily change in the Benchmark over the same period.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Sponsor believes that market arbitrage
opportunities will cause the Fund&rsquo;s Share price on the NYSE Arca to track the Fund&rsquo;s NAV per share.&nbsp;&nbsp;The
Sponsor believes that the net effect of this expected relationship and the expected relationship described above between the Fund&rsquo;s
NAV and the Benchmark will be that the changes in the price of the Fund&rsquo;s Shares on the NYSE Arca will track, in percentage
terms, changes in the Benchmark. This relationship may be affected by various market factors, including but not limited to, the
number of shares of the Fund outstanding and the liquidity of the underlying holdings. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Sponsor employs a &ldquo;neutral&rdquo;
investment strategy intended to track the changes in the Benchmark regardless of whether the Benchmark goes up or goes down.&nbsp;&nbsp;The
Fund&rsquo;s &ldquo;neutral&rdquo; investment strategy is designed to permit investors generally to purchase and sell the Fund&rsquo;s
Shares for the purpose of investing indirectly in the wheat market in a cost-effective manner.&nbsp;&nbsp;Such investors may include
participants in the wheat industry and other industries seeking to hedge the risk of losses in their wheat-related transactions,
as well as investors seeking exposure to the wheat market.&nbsp;&nbsp;Accordingly, depending on the investment objective of an
individual investor, the risks generally associated with investing in the wheat market and/or the risks involved in hedging may
exist.&nbsp;&nbsp;In addition, an investment in the Fund involves the risks that the changes in the price of the Fund&rsquo;s Shares
will not accurately track the changes in the Benchmark, and that changes in the Benchmark will not closely correlate with changes
in the price of wheat on the spot market.&nbsp;&nbsp;Furthermore, as noted above, the Fund may also elect to invest in short-term
Treasury Securities, cash and/or cash equivalents to meet its current or potential margin or collateral requirements with respect
to its investments in Wheat Interests and to invest cash not required to be used as margin or collateral.&nbsp;&nbsp;The Fund does
not expect there to be any meaningful correlation between the performance of the Fund&rsquo;s investments in Treasury Securities/cash/cash
equivalents and the changes in the price of wheat or Wheat Interests.&nbsp;&nbsp;While the level of interest earned on or the market
price of these investments may in some respects correlate to changes in the price of wheat, this correlation is not anticipated
as part of the Fund&rsquo;s efforts to meet its objective.&nbsp;&nbsp;This and certain risk factors discussed in this prospectus
may cause a lack of correlation between changes in the Fund&rsquo;s NAV and changes in the price of wheat.&nbsp;&nbsp;The Sponsor
does not intend to operate the Fund in a fashion such that its per share NAV equals, in dollar terms, the spot price of a bushel
or other unit of wheat or the price of any particular Wheat Futures Contract. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund creates and redeems Shares only in
blocks called Creation Baskets and Redemption Baskets, respectively.&nbsp;&nbsp;Only Authorized Purchasers may purchase or redeem
Creation Baskets or Redemption Baskets.&nbsp;&nbsp;An Authorized Purchaser is under no obligation to create or redeem baskets,
and an Authorized Purchaser is under no obligation to offer to the public Shares of any baskets it does create.&nbsp;&nbsp;Baskets
are generally created when there is a demand for Shares, including, but not limited to, when the market price per share is at
(or perceived to be at) a premium to the NAV per share.&nbsp;&nbsp;Similarly, baskets are generally redeemed when the market price
per share is at (or perceived to be at) a discount to the NAV per share.&nbsp;&nbsp;Retail investors </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> seeking to purchase or sell Shares on any day are expected to
effect such transactions in the secondary market, on the NYSE Arca, at the market price per share, rather than in connection with
the creation or redemption of baskets. There are a minimum number of baskets and associated shares specified for the Fund. Once
the minimum number of baskets is reached, there can be no more redemptions until there has been a creation basket. In such case,
market makers may be less willing to purchase Shares from investors in the secondary market, which may in turn limit the ability
of Shareholders of the Fund to sell their Shares in the secondary market. As of January 31, 2014 these minimum levels for the Fund
are 50,004 shares representing 2 baskets. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">All proceeds from the sale of Creation Baskets
will be invested as quickly as practicable in the investments described in this prospectus.&nbsp;&nbsp;The Fund&rsquo;s cash and
investments are held through the Fund&rsquo;s Custodian, in accounts with the Fund&rsquo;s commodity futures brokers or in collateral
accounts with respect to over-the-counter Wheat Interests.&nbsp;&nbsp;There is no stated maximum time period for the Fund&rsquo;s
operations and the Fund will continue until all Shares are redeemed or the Fund is liquidated pursuant to the terms of the Trust
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">There is no specified limit on the maximum number
of Creation Baskets that can be sold. At some point, however, applicable position limits on Wheat Futures Contracts, Cleared Wheat
Swaps or Other Wheat Interests may practically limit the number of Creation Baskets that will be sold if the Sponsor determines
that the other investment alternatives available to the Fund at that time will not enable it to meet its stated investment objective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Shares may also be purchased and sold by individuals
and entities that are not Authorized Purchasers in smaller increments than Creation Baskets on the NYSE Arca.&nbsp;&nbsp;However,
these transactions are effected at bid and ask prices established by specialist firm(s).&nbsp;&nbsp;Like any listed security, Shares
of the Fund can be purchased and sold at any time a secondary market is open.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In managing the Fund&rsquo;s assets, the Sponsor
does not use a technical trading system that automatically issues buy and sell orders.&nbsp;&nbsp;Instead, each time one or more
baskets are purchased or redeemed, the Sponsor will purchase or sell Wheat Interests with an aggregate market value that approximates
the amount of cash received or paid upon the purchase or redemption of the basket(s).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Note to Secondary Market Investors: </B>Shares
can be directly purchased from the Fund only in Creation Baskets and only by Authorized Purchasers.&nbsp;&nbsp;Each Creation Basket
consists of 25,000 Shares and therefore requires a significant financial commitment to purchase. Accordingly, investors who do
not have such resources or who are not Authorized Purchasers should be aware that some of the information contained in this prospectus,
including information about purchases and redemptions of Shares directly with the Fund, is only relevant to Authorized Purchasers.
Shares are listed and traded on the NYSE Arca under the ticker symbol &ldquo;WEAT&rdquo; and may be purchased and sold as individual
Shares.&nbsp;&nbsp;Individuals interested in purchasing Shares in the secondary market should contact their broker.&nbsp;&nbsp;Shares
purchased or sold through a broker may be subject to commissions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I> Except when aggregated in Redemption Baskets,
Shares are not redeemable securities. There is no guarantee that Shares will trade at prices that are at or near the per-Share
NAV. </I> There are a minimum number of baskets and associated shares specified for the Fund. Once the minimum number of
baskets is reached, there can be no more redemptions until there has been a creation basket. As of January 31, 2014 these minimum
levels for the Fund are 50,004 shares representing 2 baskets.<I> </I> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_010"></A>The Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Shares are registered as securities under
the Securities Act of 1933 (the &ldquo;1933 Act&rdquo;) and the Securities Exchange Act of 1934 (the &ldquo;Exchange Act&rdquo;)
and do not provide dividend rights or conversion rights and there are no sinking funds.&nbsp;&nbsp;The Shares may only be redeemed
when aggregated in Redemption Baskets as discussed under &ldquo;Creation and Redemption of Shares&rdquo; and holders of Fund Shares
(&ldquo;Shareholders&rdquo;) generally do not have voting rights as discussed under &ldquo;The Trust Agreement &ndash; Voting Rights&rdquo;
below.&nbsp;&nbsp;Cumulative voting is neither permitted nor required and there are no preemptive rights.&nbsp;&nbsp;The Trust
Agreement provides that, upon liquidation of the Fund, its assets will be distributed pro rata to the Shareholders based upon the
number of</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Shares held.&nbsp;&nbsp;Each Shareholder will receive its share
of the assets in cash or in kind, and the proportion of such share that is received in cash may vary from Shareholder to Shareholder,
as the Sponsor in its sole discretion may decide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The offering of Shares under this prospectus
is a continuous offering under Rule 415 of the 1933 Act and will terminate on June 13, 2014. The offering may be extended beyond
such date as permitted by applicable rules under the 1933 Act.&nbsp;&nbsp;The offering will terminate before such date or before
the end of any extension period if all of the registered Shares have been sold.&nbsp;&nbsp;However, the Sponsor expects to cause
the Trust to file one or more additional registration statements as necessary to permit additional Shares to be registered and
offered on an uninterrupted basis.&nbsp;&nbsp;This offering may also be suspended or terminated at any time for certain specified
reasons, including if and when suitable investments for the Fund are not available or practicable.&nbsp;&nbsp;See &ldquo;Creation
and Redemption of Shares &ndash; Rejection of Purchase Orders&rdquo; below.&nbsp;&nbsp;As discussed above, the minimum purchase
requirement for Authorized Purchasers is a Creation Basket, which consists of 25,000 Shares.&nbsp;&nbsp;Under the plan of distribution,
the Fund does not require a minimum purchase amount for investors who purchase Shares from Authorized Purchasers.&nbsp;&nbsp;There
are no arrangements to place funds in an escrow, trust, or similar account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_011"></A>The Fund&rsquo;s Investments in Wheat Interests</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A brief description of the principal types of
Wheat Interests in which the Fund may invest is set forth below.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-size: 8pt">
</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">A futures contract is an exchange-traded contract traded with standard terms that calls for the delivery of a specified quantity of a commodity at a specified price, on a specified date and at a specified location.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">A swap agreement is a bilateral contract to exchange a periodic stream of payments determined by reference to a notional amount, with payment typically made between the parties on a net basis.&nbsp;&nbsp;For instance, in the case of wheat swap, the Fund may be obligated to pay a fixed price per bushel of wheat multiplied by a notional number of bushels and be entitled to receive an amount per bushel equal to the current value of an index of wheat prices, the price of a specified Wheat Futures Contract, or the average price of a group of Wheat Futures Contracts such as the Benchmark (times the same notional number of bushels).&nbsp;&nbsp;The Fund expects to invest primarily in Cleared Wheat Swaps, rather than over-the-counter wheat swaps.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Fund may also invest to a lesser extent in the following types
of Wheat Interests:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 89%"><FONT STYLE="font-size: 10pt">Swap agreements other than Cleared Wheat Swaps (i.e., over-the-counter wheat swaps).</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-left: 12pt; text-indent: -12pt; width: 89%"><FONT STYLE="font-size: 10pt">A forward contract is an over-the-counter bilateral contract for the purchase of sale of a specified quantity of a commodity at a specified price, on a specified date and at a specified location.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-left: 12pt; text-indent: -12pt; width: 89%"><FONT STYLE="font-size: 10pt">An option on a futures contract, forward contract or a commodity on the spot market gives the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;buyer of the option the right, but not the obligation, to buy or sell a futures contract, forward contract or commodity, as applicable, at a specified price on or before a specified date.&nbsp;&nbsp;The seller, or writer, of the option is obligated to take a position in the underlying interest at a specified price opposite to the option buyer if the option is exercised.&nbsp;&nbsp;Options on futures contracts, like the future contracts to which they relate, are standardized contracts traded on an exchange, while options on forward contracts and commodities generally are individually negotiated, over-the-counter, bilateral contracts.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unlike exchange-traded contracts, over-the-counter
contracts expose the Fund to the credit risk of the other party to the contract.&nbsp;&nbsp;(As discussed below, exchange-traded
contracts may expose the Fund to the risk of the clearing broker&rsquo;s and/or the exchange clearing house(s)&rsquo; bankruptcy.)&nbsp;&nbsp;The
Sponsor does not currently intend to purchase and sell wheat in the &ldquo;spot market&rdquo; for the Fund.&nbsp;&nbsp;Spot market
transactions are cash transactions in which the buyer and seller agree to the immediate purchase and sale of a commodity, usually</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">with a two-day settlement period.&nbsp;&nbsp;In addition, the Sponsor
does not currently intend that the Fund will enter into or hold spot month Wheat Futures Contracts, except that spot month contracts
that were formerly second-to-expire contracts may be held for a brief period until they can be disposed of in accordance with the
Fund&rsquo;s roll strategy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Although the Fund has the ability to trade over-the-counter
contracts and swaps, the Sponsor anticipates that 100% of the Fund&rsquo;s assets will be used to trade futures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A more detailed description of Wheat Interests
and other aspects of the wheat and Wheat Interest markets can be found later in this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>As noted, the Fund invests in Wheat Futures
Contracts, including those traded on the CBOT, and in Cleared Wheat Swaps cleared through the CBOT or its affiliates.&nbsp;&nbsp;The
Fund expressly disclaims any association with the CBOT or endorsement of the Fund by such exchange and acknowledges that &ldquo;CBOT&rdquo;
and &ldquo;Chicago Board of Trade&rdquo; are registered trademarks of such exchange.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_012"></A>Principal Investment Risks of an Investment in the Fund</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> An investment in the Fund involves a degree
of risk.&nbsp;&nbsp;Some of the risks you may face are summarized below. A more extensive discussion of these risks appears beginning
on page&nbsp;13. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Unlike mutual funds, commodity pools and other investment pools that manage their investments so as to realize income and gains for distribution to their investors, the Fund generally does not distribute dividends to Shareholders.&nbsp;&nbsp;You should not invest in the Fund if you will need cash distributions from the Fund to pay taxes on your share of income and gains of the Fund, if any, or for other purposes.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-size: 8pt">&nbsp;
</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Investors may choose to use the Fund as a means of investing indirectly in wheat, and there are risks involved in such investments.&nbsp;&nbsp;The risks and hazards that are inherent in wheat production may cause the price of wheat to fluctuate widely.&nbsp;&nbsp;Price movements for wheat are influenced by, among other things: weather conditions, crop failure, production decisions, governmental policies, changing demand, the wheat harvest cycle, and various economic and monetary events.&nbsp;&nbsp;Wheat production is also subject to U.S. federal, state and local<B>&nbsp;</B>regulations that materially affect operations.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">To the extent that investors use the Fund as a means of investing indirectly in wheat, there is the risk that the changes in the price of the Fund&rsquo;s Shares on the NYSE Arca will not closely track the changes in spot price of wheat.&nbsp;&nbsp;This could happen if the price of Shares traded on the NYSE Arca does not correlate closely with the Fund&rsquo;s NAV; the changes in the Fund&rsquo;s NAV do not correlate closely with changes in the Benchmark; or the changes in the Benchmark do not correlate closely with changes in the cash or spot price of wheat.&nbsp;&nbsp;This is a risk because if these correlations are not sufficiently close, then investors may not be able to use the Fund as a cost-effective way to invest indirectly in wheat or as a hedge against the risk of loss in wheat-related transactions.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The Sponsor has limited experience operating commodity pools.&nbsp;&nbsp;The Sponsor currently sponsors seven commodity pools (the Teucrium Funds), all of which have commenced operations.&nbsp;&nbsp;Prior to June 9, 2010, the Sponsor had never operated a commodity pool.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The price relationship between the near month Wheat Futures Contract to expire and the Benchmark Component Futures Contracts will vary and may impact both the Fund&rsquo;s total return over time and the degree to which such total return tracks the total return of wheat price indices.&nbsp;&nbsp;In cases in which the near month contract&rsquo;s price is lower than later-expiring contracts&rsquo; prices (a situation known as &ldquo;contango&rdquo; in the futures markets), then absent the impact of the overall movement in wheat prices the value of the Benchmark Component Futures Contracts would tend to decline as they approach expiration which could cause the Benchmark Component Futures Contracts, and therefore the Fund&rsquo;s total return, to track lower.&nbsp;&nbsp;In cases in which the near </FONT></TD></TR>
</TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD>month contract&rsquo;s price is higher than later-expiring contracts&rsquo; prices (a situation known as &ldquo;backwardation&rdquo; in the futures markets), then absent the impact of the overall movement in wheat prices the value of the Benchmark Component Futures Contracts would tend to rise as they approach expiration.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Investors, including those who directly participate in the wheat market, may choose to use the Fund as a vehicle to hedge against the risk of loss and there are risks involved in hedging activities.&nbsp;&nbsp;While hedging can provide protection against an adverse movement in market prices, it can also preclude a hedger&rsquo;s opportunity to benefit from a favorable market movement.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The Fund seeks to have the changes in its Shares&rsquo; NAV in percentage terms track changes in the Benchmark in percentage terms, rather than profit from speculative trading of Wheat Interests.&nbsp;&nbsp;The Sponsor therefore endeavors to manage the Fund so that the Fund&rsquo;s assets are, unlike those of many other commodity pools, not leveraged (<I>i.e.</I>, so that the aggregate amount of the Fund&rsquo;s exposure to losses from its investments in Wheat Interests at any time will not exceed the value of the Fund&rsquo;s assets).&nbsp;&nbsp;There is no assurance that the Sponsor will successfully implement this investment strategy.&nbsp;&nbsp;If the Sponsor permits the Fund to become leveraged, you could lose all or substantially all of your investment if the Fund&rsquo;s trading positions suddenly turn unprofitable.&nbsp;&nbsp;These movements in price may be the result of factors outside of the Sponsor&rsquo;s control and may not be anticipated by the Sponsor.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The Fund may invest in Other Wheat Interests.&nbsp;&nbsp;To the extent that these Other Wheat Interests are contracts individually negotiated between their parties, they may not be as liquid as Wheat Futures Contracts and will expose the Fund to credit risk that its counterparty may not be able to satisfy its obligations to the Fund.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The Fund invests primarily in Wheat Interests that are traded or sold in the United States.&nbsp;&nbsp;However, a portion of the Fund&rsquo;s trades may take place in markets and on exchanges outside the United States.&nbsp;&nbsp;Some non-U.S. markets present risks because they are not subject to the same degree of regulation as their U.S. counterparts.&nbsp;&nbsp;In some of these non-U.S. markets, the performance on a contract is the responsibility of the counterparty and is not backed by an exchange or clearing corporation and therefore exposes the Fund to credit risk.&nbsp;&nbsp;Trading in non-U.S. markets also leaves the Fund susceptible to fluctuations in the value of the local currency against the U.S. dollar.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol"> &middot; </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"> The structure and operation of the Fund may involve conflicts of interest.&nbsp;&nbsp;For example, a conflict may arise because the Sponsor and its principals and affiliates may trade for themselves.&nbsp;&nbsp;In addition, the Sponsor has sole current authority to manage the investments and operations of the Fund, including the authority of the Sponsor to allocate expenses to and between the Funds. and the interests of the Sponsor may conflict with the Shareholders&rsquo; best interests. </FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">You will have no rights to participate in the management of the Fund and will have to rely on the duties and judgment of the Sponsor to manage the Fund.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The Fund pays fees and expenses that are incurred regardless of whether it is profitable.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 48px"></TD><TD STYLE="width: 24px; text-align: left"><FONT STYLE="font: 10pt Symbol"> &middot; </FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"> The regulation of
futures markets, futures contracts, and futures exchanges has historically been comprehensive. The CFTC and the exchanges are
authorized to take extraordinary actions in the event of a market emergency including, for example, the retroactive implementation
of speculative position limits, increased margin requirements, the establishment of daily price limits and the suspension of trading. </FONT></TD>
</TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 48px"></TD><TD STYLE="width: 24px; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The regulation of commodity
interest transactions in the United States is a rapidly changing area of law and is subject to ongoing modification by governmental
and judicial action. Considerable regulatory attention has been focused on non-traditional investment pools that are publicly
distributed in the United States. There is a possibility of future regulatory changes within the</FONT></TD>
</TR></TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; background-color: white">United States altering, perhaps
to a material extent, the nature of an investment in the Fund, or the ability of the Fund to continue to implement its investment
strategy. In addition, various national governments outside of the United States have expressed concern regarding the disruptive
effects of speculative trading in the commodities markets and the need to regulate the derivatives markets in general. The effect
of any future regulatory change on the Fund is impossible to predict but could be substantial and adverse.</P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">For additional risks, see &ldquo;What Are the
Risk Factors Involved with an Investment in the Fund?&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_013"></A>Financial Condition of the Fund</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund&rsquo;s NAV is determined as of the
earlier of the close of the New York Stock Exchange or 4:00 p.m. New York time on each day that the NYSE Arca is open for trading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_014"></A>Defined Terms</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">For a glossary of defined terms, see Appendix
A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_015"></A>Breakeven Analysis</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The breakeven analysis below indicates the
approximate dollar returns and percentage returns required for the redemption value of the selling price per Share, assuming a
selling price of $13.44 (the NAV per Share as of January 31, 2014), to equal the amount invested twelve months after the investment
was made.&nbsp;&nbsp;This breakeven analysis refers to the redemption of baskets by Authorized Purchasers and is not related to
any gains an individual investor would have to achieve in order to break even.&nbsp;&nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="width: 87%"><FONT STYLE="font-size: 10pt">Assumed selling price per Share</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">13.44</FONT> </TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">Sponsor Fee (1.00%)(1)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0.13</FONT> </TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD><FONT STYLE="font-size: 10pt">Creation Basket Fee(2)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0.01</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">Estimated Brokerage Fees (3)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0.01</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD><FONT STYLE="font-size: 10pt">Other Fund Fees and Expenses(4)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0.19</FONT> </TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">Interest Income (5)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(0.01</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD><FONT STYLE="font-size: 10pt">Amount of trading income (loss) required for the redemption value at the end of one year to <BR>
equal the selling price of the Share</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0.33</FONT> </TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">Percentage of selling price per share</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2.46</FONT> </TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Fund is obligated to pay the Sponsor a management fee at the annual rate of 1.00% of the Fund&rsquo;s average daily net assets,
payable monthly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorized
Purchasers are required to pay a Creation Basket fee of $250 for each order they place to create one or more baskets. &nbsp;&nbsp;An
order must be at least one basket, which is 25,000 Shares.&nbsp;&nbsp;This breakeven analysis assumes a hypothetical investment
in a single Share so the Creation Basket fee is $.01 (250/25,000).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
amount is based on the actual brokerage fees for the Fund calculated on an annualized basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> (4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
Fund Fees and Expenses include legal, printing, accounting, custodial, administration, bookkeeping, transfer agency and Distributor
costs.&nbsp;&nbsp;The per-share cost of these fixed or estimated fees has been calculated assuming that the Fund has $7.4 million
in assets which was the approximate amount of assets as of January 31, 2014. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> &nbsp;(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Fund earns interest on funds it deposits with the futures commission merchant and the Custodian and it estimates that the interest
rate will be 0.07% based on the interest rate on three-month Treasury Bills as of January, 2014.&nbsp;&nbsp;The actual rate may
vary and not all assets of the Fund will earn interest. </P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>The Offering</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%; padding-left: 11pt"><FONT STYLE="font-size: 10pt">Offering</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 55%"><FONT STYLE="font-size: 10pt">The Fund offers Creation Baskets consisting of 25,000 Shares through the Distributor to Authorized Purchasers.&nbsp;&nbsp;Authorized Purchasers may purchase Creation Baskets consisting of 25,000 Shares at the Fund&rsquo;s NAV. The Shares trade on the NYSE Arca.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%; padding-left: 11pt"><FONT STYLE="font-size: 10pt"> Use of Proceeds </FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 55%"><FONT STYLE="font-size: 10pt"> The Sponsor applies substantially all of the Fund&rsquo;s assets toward investing in Wheat Interests, Treasury Securities, cash and/or cash equivalents.&nbsp;&nbsp;The Sponsor deposits a portion of the Fund&rsquo;s net assets with the futures commission merchant (&ldquo;FCM&rdquo;), Newedge USA, LLC, or other custodians to be used to meet its current or potential margin or collateral requirements in connection with its investment in Wheat Interests.&nbsp;&nbsp;The Fund uses only Treasury Securities, cash and/or cash equivalents to satisfy these requirements.&nbsp;&nbsp;The Sponsor expects that all entities that will hold or trade the Fund&rsquo;s assets will be based in the United States and will be subject to United States regulations.&nbsp;&nbsp;The Sponsor believes that approximately 10% of the Fund&rsquo;s assets will normally be committed as margin for Wheat Futures Contracts and collateral for Cleared Wheat Swaps and Other Wheat Interests.&nbsp;&nbsp;However, from time to time, the percentage of assets committed as margin/collateral may be substantially more, or less, than such range.&nbsp;&nbsp;The remaining portion of the Fund&rsquo;s assets is held in Treasury Securities, cash and/or cash equivalents by the Custodian.&nbsp;&nbsp;All interest income earned on these investments is retained for the Fund&rsquo;s benefit. </FONT> </TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%; padding-left: 11pt"><FONT STYLE="font-size: 10pt">NYSE Arca Symbol</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 55%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&ldquo;WEAT&rdquo;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%; padding-left: 11pt"><FONT STYLE="font-size: 10pt">Creation and Redemption</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 55%"><FONT STYLE="font-size: 10pt">Authorized Purchasers pay a $250 fee for one basket and a maximum fee of $500 per order to create Creation Baskets, and a $250 fee per basket redeemed.&nbsp;&nbsp;Authorized Purchasers are not required to sell any specific number or dollar amount of Shares.&nbsp;&nbsp;The per share price of Shares offered in Creation Baskets is the total NAV of the Fund calculated as of the close of the NYSE Arca on that day, divided by the number of issued and outstanding Shares.&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%; font-size: 12pt"><FONT STYLE="font-size: 8pt">&nbsp; </FONT><FONT STYLE="font-size: 10pt">Inter-Series Limitation on Liability</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 55%"><FONT STYLE="font-size: 10pt">While the Fund is currently one of seven separate series of the Trust,
additional series may be created in the future.&nbsp;&nbsp;The Trust has been formed and will be operated with the goal that the
Fund and any other series of the Trust will be liable only for obligations of such series, and a series will not be responsible
for or affected by any liabilities or losses of or claims against any other series.&nbsp;&nbsp;If any creditor or shareholder
in any particular series (such as the Fund) were to successfully assert against a series a claim with respect to its indebtedness
or Shares, the creditor or shareholder could recover only from that</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; width: 44%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 55%">particular series and its assets.&nbsp;&nbsp;Accordingly, the debts and other obligations incurred, contracted for or otherwise existing solely with respect to a particular series will be enforceable only against the assets of that series, and not against any other series or the Trust generally or any of their respective assets.&nbsp;&nbsp;The assets of the Fund and any other series will include only those funds and other assets that are paid to, held by or distributed to the series on account of and for the benefit of that series, including, without limitation, amounts delivered to the Trust for the purchase of Shares in a series.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%; padding-left: 11pt"><FONT STYLE="font-size: 10pt">Registration Clearance and Settlement</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 55%"><FONT STYLE="font-size: 10pt">Individual certificates will not be issued for the Shares. Instead, Shares will be represented by one or more global certificates, which are deposited by the Custodian with the Depository Trust Company (&ldquo;DTC&rdquo;) and registered in the name of Cede &amp; Co., as nominee for DTC. The global certificates evidence all of the Shares outstanding at any time.&nbsp;&nbsp;Beneficial interests in Shares will be held through DTC&rsquo;s book-entry system, which means that Shareholders are limited to: (1) participants in DTC such as banks, brokers, dealers and trust companies (&ldquo;DTC Participants&rdquo;), (2) those who maintain, either directly or indirectly, a custodial relationship with a DTC Participant (&ldquo;Indirect Participants&rdquo;), and (3) those who hold interests in the Shares through DTC Participants or Indirect Participants, in each case who satisfy the requirements for transfers of Shares. DTC Participants acting on behalf of investors holding Shares through such DTC Participants&rsquo; accounts in DTC will follow the delivery practice applicable to securities eligible for DTC&rsquo;s Same-Day Funds Settlement System. Shares will be credited to DTC Participants&rsquo; securities accounts following confirmation of receipt of payment.&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%; padding-left: 11pt"><FONT STYLE="font-size: 10pt">Net Asset Value</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 55%"><FONT STYLE="font-size: 10pt">The NAV will be calculated by taking the current market value of the Fund&rsquo;s total assets and subtracting any liabilities and dividing the balance by the number of Shares. Under the Fund&rsquo;s current operational procedures, the Fund&rsquo;s administrator, The Bank of New York Mellon (the &ldquo;Administrator&rdquo;) will calculate the NAV of the Fund&rsquo;s Shares as of the earlier of 4:00 p.m. New York time or the close of the New York Stock Exchange each day. NYSE Arca will calculate an approximate net asset value every 15 seconds throughout each day that the Fund&rsquo;s Shares are traded on the NYSE Arca for as long as the CBOT&rsquo;s main pricing mechanism is open.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-size: 8pt">&nbsp;
</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 44%"><FONT STYLE="font-size: 10pt">Fund Expenses</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 55%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Fund pays the Sponsor a management
                           fee at an annual rate of 1.00% of the Fund&rsquo;s average daily net assets. The Fund is also responsible
                           for other ongoing fees, costs and expenses of its operations, including (i) brokerage and other fees
                           and commissions incurred in connection with the trading activities of the Fund; (ii) expenses incurred
                           in connection with registering </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
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    <TD STYLE="width: 44%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 55%"> additional Shares of the Fund or offering Shares of the Fund; (iii) the routine expenses associated with the preparation
    and, if required, the printing and mailing of monthly, quarterly, annual and other reports required by applicable U.S. federal
    and state regulatory authorities, Trust meetings and preparing, printing and mailing proxy statements to Shareholders; (iv)
    the payment of any distributions related to redemption of Shares; (v) payment for routine services of the Trustee, legal counsel
    and independent accountants; (vi) payment for routine accounting, bookkeeping, custody and transfer agency services, whether
    performed by an outside service provider or by Affiliates of the Sponsor; (vii) postage and insurance; (viii) costs and expenses
    associated with investor relations and services; (ix) costs of preparation of all federal, state, local and foreign tax returns
    and any taxes payable on the income, assets or operations of the Fund; and (x) extraordinary expenses (including, but not
    limited to, legal claims and liabilities and litigation costs and any indemnification related thereto).<B> </B>The Sponsor
    bore the costs and expenses related to the initial offer and sale of Shares, including registration fees paid or to be paid
    to the SEC, the Financial Industry Regulatory Authority (&ldquo;FINRA&rdquo;) or any other regulatory or self-regulatory body.
    None of the costs and expenses related to the initial offer and sale of Shares, which totaled approximately $450,000, were
    or are chargeable to the Fund, and the Sponsor did not and may not recover any of these costs and expenses from the Fund.
    Total fees to be paid by the Fund are currently estimated to be approximately 2.46% of the daily net assets of the Fund for
    the twelve-month period ending April 30, 2015, though this amount may change in future years. The Sponsor may, in its discretion,
    pay or reimburse the Fund for, or waive a portion of its management fee to offset, expenses that would otherwise be borne
    by the Fund.&nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">General expenses of the Trust will be allocated among the existing Teucrium Funds and any future series of the Trust as determined by the Sponsor in its discretion. The Trust may be required to indemnify the Sponsor, and the Trust and/or the Sponsor may be required to indemnify the Trustee, Distributor or Administrator, under certain circumstances.&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 44%; padding-left: 11pt"><FONT STYLE="font-size: 10pt">Termination Events</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 55%"><FONT STYLE="font-size: 10pt">The Trust and the Fund shall continue in existence from the date of their formation in perpetuity, unless the Trust or the Fund, as the case may be, is sooner terminated upon the occurrence of certain events specified in the Trust Agreement, including the following: (1) the filing of a certificate of dissolution or cancellation of the Sponsor or revocation of the Sponsor&rsquo;s charter or the withdrawal of the Sponsor, unless shareholders holding a majority of the outstanding shares of the Trust, voting together as a single class, elect within ninety (90) days after such event to continue the business of the Trust and &nbsp;</FONT></TD></TR>
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    <TD STYLE="width: 44%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 55%">appoint a successor Sponsor; (2) the occurrence of any event which would make the existence of the Trust or the Fund unlawful; (3) the suspension, revocation, or termination of the Sponsor&rsquo;s registration as a CPO with the CFTC or membership with the NFA; (4) the insolvency or bankruptcy of the Trust or the Fund; (5) a vote by the shareholders holding at least seventy-five percent (75%) of the outstanding shares of the Trust to dissolve the Trust, voting together as a single class, subject to certain conditions; and (6) the determination by the Sponsor to dissolve the Trust or the Fund, subject to certain conditions; (7) the Trust is required to be registered as an investment company under the Investment Company Act of 1940, and (8) DTC is unable or unwilling to continue to perform its functions and a comparable replacement is unavailable.&nbsp;&nbsp;Upon termination of the Fund, the affairs of the Fund will be wound up and all of its debts and liabilities discharged or otherwise provided for in the order of priority as provided by law. The fair market value of the remaining assets of the Fund shall then be determined by the Sponsor. Thereupon, the assets of the Fund shall be distributed pro rata to the Shareholders in accordance with their Shares.</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 44%"><FONT STYLE="font-size: 10pt">Authorized Purchasers</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 55%"><FONT STYLE="font-size: 10pt">A list of Authorized Purchasers is available from the Distributor.&nbsp;&nbsp;Authorized Purchasers must be (1) registered broker-dealers or other securities market participants, such as banks and other financial institutions, that are not required to register as broker-dealers to engage in securities transactions, and (2) DTC Participants.&nbsp;&nbsp;To become an Authorized Purchaser, a person must enter into an Authorized Purchaser Agreement with the Sponsor.</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_016"></A>WHAT ARE THE RISK FACTORS INVOLVED WITH AN
INVESTMENT IN THE FUND?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><I> You should
consider carefully the risks described below before making an investment decision. You should also refer to the other information
included in this prospectus, and the Fund&rsquo;s, the Trust&rsquo;s and the Sponsor&rsquo;s financial statements and the related
notes as reported in our Annual Report on Form 10-K </I></FONT> <FONT STYLE="font-size: 10pt"><I>for the fiscal year ended
December 31,</I></FONT> <FONT STYLE="font-size: 10pt"><I>2013, and our current report</I></FONT> <FONT STYLE="font-size: 10pt"><I>Form
8-K, dated April __, 2014, which are incorporated by reference herein.</I></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_017"></A>Risks Associated With Investing Directly or Indirectly in Wheat</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Investing in Wheat Interests subjects the Fund to the risks
of the wheat market, and this could result in substantial fluctuations in the price of the Fund&rsquo;s Shares.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund is subject to the risks and hazards
of the wheat market because it invests in Wheat Interests.&nbsp;&nbsp;The risks and hazards that are inherent in the wheat market
may cause the price of wheat to fluctuate widely.&nbsp;&nbsp;If the changes in percentage terms of the Fund&rsquo;s Shares accurately
track the percentage changes in the Benchmark or the spot price of wheat, then the price of its Shares will fluctuate accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 72px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The price and availability of wheat is influenced by economic and industry conditions, including but not limited to supply and demand factors such as: crop disease; weed control; water availability; various planting, growing, or harvesting problems; severe weather conditions such as drought, floods, or frost that are difficult to anticipate and which cannot be controlled.&nbsp;&nbsp;Demand for food products made from wheat flour is affected by changes in consumer tastes, national, regional and local economic conditions, and demographic trends.&nbsp;&nbsp;More specifically, demand for such food products in the United States is relatively unaffected by changes in wheat prices or disposable income, but is closely tied to tastes and preferences.&nbsp;&nbsp;For example, in recent years the increase in the popularity of low-carbohydrate diets caused the consumption of wheat flour to decrease rapidly before rebounding somewhat after 2005.&nbsp;&nbsp;Export demand for wheat fluctuates yearly, based largely on crop yields in the importing countries.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Wheat production is subject to United States federal, state and local policies and regulations that materially affect operations.&nbsp;&nbsp;Governmental policies affecting the agricultural industry, such as taxes, tariffs, duties, subsidies, incentives, acreage control, and import and export restrictions on agricultural commodities and commodity products, can influence the planting of certain crops, the location and size of crop production, the volume and types of imports and exports, the availability and competitiveness of feedstocks as raw materials, and industry profitability.&nbsp;&nbsp;Additionally, wheat production is affected by laws and regulations relating to, but not limited to, the sourcing, transporting, storing and processing of agricultural raw materials as well as the transporting, storing and distributing of related agricultural products.&nbsp;&nbsp;U.S. Wheat producers also must comply with various environmental laws and regulations, such as those regulating the use of certain pesticides, and local laws that regulate the production of genetically modified crops.&nbsp;&nbsp;In addition, international trade disputes can adversely affect agricultural commodity trade flows by limiting or disrupting trade between countries or regions.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 72px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"> Seasonal fluctuations in the price of wheat may cause risk to an investor because of the possibility that Share prices will be depressed because of the wheat harvest cycle.&nbsp;&nbsp;In the United States, the market for winter wheat, the type of wheat upon which CBOT Wheat Futures Contracts are based, is generally at its lowest point, and wheat prices are generally lowest, shortly before and during the harvest (in the spring or early summer), due to the high supply of wheat in the market.&nbsp;&nbsp;Conversely, winter wheat prices are generally highest in the fall or early winter, when the wheat harvested that year has largely been sold and used.&nbsp;&nbsp;In the futures market, these seasonal fluctuations are typically reflected in contracts expiring in the relevant season (e.g., contracts expiring during the harvest season are typically priced lower than contracts expiring in the fall and early winter).&nbsp;&nbsp;Thus, seasonal fluctuations could result </FONT> </TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 72px">&nbsp;</TD>
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD>in an investor incurring losses upon the sale of Fund Shares, particularly if the investor needs to sell Shares when the
    Benchmark Component Futures Contracts are, in whole or part, Wheat Futures Contracts expiring in the spring.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I> An investment in the Fund is subject to correlation risk.
Your return on an investment in the Fund may differ from the return of the Benchmark and depending on certain factors discussed
below, you could incur a partial or total loss of your investment. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> There is a risk that changes in the price of Shares on the NYSE
Arca will not correlate with changes in the Fund&rsquo;s NAV; that changes in the NAV will not correlate with changes in the price
of the Benchmark; and/or changes in the price of the Benchmark will not correlate with changes in the spot price of wheat. Depending
on certain factors associated with each of these correlations which are discussed in more detail below, you could incur a partial
or total loss of your investment in the Fund. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Benchmark is not designed to correlate exactly with the
spot price of wheat and this could cause the changes in the price of the Shares to substantially vary from the changes in the spot
price of wheat.&nbsp;&nbsp;Therefore, you may not be able to effectively use the Fund to hedge against wheat-related losses or
to indirectly invest in wheat.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Benchmark Component Futures Contracts reflect
the price of wheat for future delivery, not the current spot price of wheat, so at best the correlation between changes in such
Wheat Futures Contracts and the spot price of wheat will be only approximate.&nbsp;&nbsp;Weak correlation between the Benchmark
and the spot price of wheat may result from the typical seasonal fluctuations in wheat prices discussed above.&nbsp;&nbsp;Imperfect
correlation may also result from speculation in Wheat Interests, technical factors in the trading of Wheat Futures Contracts, and
expected inflation in the economy as a whole.&nbsp;&nbsp;If there is a weak correlation between the Benchmark and the spot price
of wheat, then the price of Shares may not accurately track the spot price of wheat and you may not be able to effectively use
the Fund as a way to hedge the risk of losses in your wheat-related transactions or as a way to indirectly invest in wheat.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Changes in the Fund&rsquo;s NAV may not correlate well with
changes in the price of the Benchmark.&nbsp;&nbsp;If this were to occur, you may not be able to effectively use the Fund as a way
to hedge against wheat-related losses or as a way to indirectly invest in wheat.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor endeavors to invest the Fund&rsquo;s
assets as fully as possible in Wheat Interests so that the changes in percentage terms in the NAV closely correlate with the changes
in percentage terms in the Benchmark.&nbsp;&nbsp;However, changes in the Fund&rsquo;s NAV may not correlate with the changes in
the Benchmark for various reasons, including those set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The Fund does not intend to invest only in the Benchmark Component Futures Contracts.&nbsp;&nbsp;While its investments in Wheat Futures Contracts other than the Benchmark Component Futures Contracts, Cleared Wheat Swaps and Other Wheat Interests would be for the purpose of causing the Fund&rsquo;s performance to track that of the Benchmark most effectively and efficiently, the performance of these Wheat Interests may not correlate well with the performance of the Benchmark Component Futures Contracts, resulting in a greater potential for error in tracking price changes in those futures contracts.&nbsp;&nbsp;Additionally, if the trading market for Wheat Futures Contracts is suspended or closed, the Fund may not be able to purchase these investments at the last reported price for such investments.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The Fund incurs certain expenses in connection with its operations, and holds most of its assets in income-producing, short-term securities for margin and other liquidity purposes and to meet redemptions that may be necessary on an ongoing basis.&nbsp;&nbsp;These expenses and income cause imperfect correlation between changes in the Fund&rsquo;s NAV and changes in the Benchmark.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The Sponsor may not be able to invest the Fund&rsquo;s assets in Wheat Interests having
    an aggregate notional amount exactly equal to the Fund&rsquo;s NAV.&nbsp;&nbsp;As a standardized contract, a single Wheat
    Futures Contracts or Cleared Wheat Swap is for a specified amount of wheat, and the Fund&rsquo;s NAV </FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px"> &nbsp; </TD>
    <TD STYLE="width: 24px"> &nbsp; </TD>
    <TD> and the proceeds from the sale of a Creation Basket is unlikely to be an exact multiple of that amount.&nbsp;&nbsp;In
    such case, the Fund could not invest the entire proceeds from the purchase of the Creation Basket in such futures contracts.&nbsp;&nbsp;(For
    example, assuming the Fund receives $375,000 for the sale of a Creation Basket and that the value (i.e., the notional amount)
    of a Wheat Futures Contract is $32,500, the Fund could only enter into 11 Wheat Futures Contracts with an aggregate value
    of $357,500).&nbsp;&nbsp;While the Fund may be better able to achieve the exact amount of exposure to the wheat market through
    the use of over-the-counter Other Wheat Interests, there is no assurance that the Sponsor will be able to continually adjust
    the Fund&rsquo;s exposure to such Other Wheat Interests to maintain such exact exposure.&nbsp;&nbsp;Furthermore, as noted
    above, the use of Other Wheat Interests may itself result in imperfect correlation with the Benchmark.&nbsp;&nbsp;Any amounts
    not invested in Wheat Interests will be held in short-term Treasury Securities, cash and/or cash equivalents. </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">As Fund assets increase, there may be more or less correlation.&nbsp;&nbsp;On the one hand, as the Fund grows it should be able to invest in Wheat Futures Contracts with a notional amount that is closer on a percentage basis to the Fund&rsquo;s NAV.&nbsp;&nbsp;For example, if the Fund&rsquo;s NAV is equal to 4.9 times the value of a single futures contract, it can purchase only four futures contracts, which would cause only 81.6% of the Fund&rsquo;s assets to be exposed to the wheat market.&nbsp;&nbsp;On the other hand, if the Fund&rsquo;s NAV is equal to 100.9 times the value of a single Wheat Futures Contract, it can purchase 100 such contracts, resulting in 99.1% exposure.&nbsp;&nbsp;&nbsp;However, at certain asset levels the Fund may be limited in its ability to purchase Wheat Futures Contracts due to position limits imposed by the CFTC or position limits or accountability levels imposed by the relevant exchanges.&nbsp;&nbsp;In these instances, the Fund would likely invest to a greater extent in Wheat Interests not subject to these position limits or accountability levels.&nbsp;&nbsp;To the extent that the Fund invests in Cleared Wheat Swaps and Other Wheat Interests, the correlation between the Fund&rsquo;s NAV and the Benchmark may be lower.&nbsp;&nbsp;In certain circumstances, position limits or accountability levels could limit the number of Creation Baskets that will be sold.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If changes in the Fund&rsquo;s NAV do not correlate
with changes in the Benchmark, then investing in the Fund may not be an effective way to hedge against wheat-related losses or
indirectly invest in wheat.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Changes in the price of the Fund&rsquo;s Shares on the NYSE
Arca may not correlate perfectly with changes in the NAV of the Fund&rsquo;s Shares.&nbsp;&nbsp;If this variation occurs, then
you may not be able to effectively use the Fund to hedge against wheat-related losses or to indirectly invest in wheat.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"> While it is
expected that the trading prices of the Shares will fluctuate in accordance with the changes in the Fund&rsquo;s NAV, the prices
of Shares may also be influenced by other factors, including the supply of and demand for the Shares, whether for the short term
or the longer term.&nbsp;&nbsp;There is no guarantee that the Shares will not trade at appreciable discounts from, and/or premiums
to, the Fund&rsquo;s NAV.&nbsp;&nbsp;This could cause the changes in the price of the Shares to substantially vary from the changes
in the spot price of wheat, even if the Fund&rsquo;s NAV was closely tracking movements in the spot price of wheat </FONT>
<FONT STYLE="font-size: 10pt">If this occurs, you may not be able to effectively use the Fund to hedge the risk of losses in your
wheat-related transactions or to indirectly invest in wheat. </FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Fund may experience a loss if it is required to sell Treasury
Securities or cash equivalents at a price lower than the price at which they were acquired.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If the Fund is required to sell Treasury Securities
or cash equivalents at a price lower than the price at which they were acquired, the Fund will experience a loss.&nbsp;&nbsp;This
loss may adversely impact the price of the Shares and may decrease the correlation between the price of the Shares, the Benchmark,
and the spot price of wheat.&nbsp;&nbsp;The value of Treasury Securities and other debt securities generally moves inversely with
movements in interest rates.&nbsp;&nbsp;The prices of longer maturity securities are subject to greater market fluctuations as
a result of changes in interest rates.&nbsp;&nbsp;While the short-term nature of the Fund&rsquo;s investments in Treasury Securities
and cash equivalents should minimize the interest rate risk to which the Fund is subject, it is possible that the Treasury Securities
and cash equivalents held by the Fund will decline in value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>




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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Certain of the Fund&rsquo;s investments could be illiquid,
which could cause large losses to investors at any time or from time to time.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund may not always be able to liquidate
its positions in its investments at the desired price for reasons including, among others, insufficient trading volume, limits
imposed by exchanges or other regulatory organizations, or lack of liquidity.&nbsp;&nbsp;As to futures contracts, it may be difficult
to execute a trade at a specific price when there is a relatively small volume of buy and sell orders in a market.&nbsp;&nbsp;Limits
imposed by futures exchanges or other regulatory organizations, such as accountability levels, position limits and price fluctuation
limits, may contribute to a lack of liquidity with respect to some exchange-traded Wheat Interests.&nbsp;&nbsp;In addition, over-the-counter
contracts and cleared swaps may be illiquid because they are contracts between two parties and generally may not be transferred
by one party to a third party without the counterparty&rsquo;s consent.&nbsp;&nbsp;Conversely, a counterparty may give its consent,
but the Fund still may not be able to transfer an over-the-counter Wheat Interest to a third party due to concerns regarding the
counterparty&rsquo;s credit risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A market disruption, such as a foreign government
taking political actions that disrupt the market in its currency, its wheat production or exports, or in another major export,
can also make it difficult to liquidate a position.&nbsp;&nbsp;Unexpected market illiquidity may cause major losses to investors
at any time or from time to time.&nbsp;&nbsp;In addition, the Fund does not intend at this time to establish a credit facility,
which would provide an additional source of liquidity, but instead will rely only on the Treasury Securities, cash and/or cash
equivalents that it holds to meet its liquidity needs.&nbsp;&nbsp;The anticipated large value of the positions in Wheat Interests
that the Sponsor will acquire or enter into for the Fund increases the risk of illiquidity.&nbsp;&nbsp;Because Wheat Interests
may be illiquid, the Fund&rsquo;s holdings may be more difficult to liquidate at favorable prices in periods of illiquid markets
and losses may be incurred during the period in which positions are being liquidated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 8pt">&nbsp;<B><I>I</I></B></FONT><B><I><FONT STYLE="font-size: 10pt">f
the nature of the participants in the futures market shifts such that wheat purchasers are the predominant hedgers in the market,
the Fund might have to reinvest at higher futures prices or choose Other Wheat Interests.</FONT></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The changing nature of the participants in the
wheat market will influence whether futures prices are above or below the expected future spot price.&nbsp;&nbsp;Wheat producers
will typically seek to hedge against falling wheat prices by selling Wheat Futures Contracts.&nbsp;&nbsp;Therefore, if wheat producers
become the predominant hedgers in the futures market, prices of Wheat Futures Contracts will typically be below expected future
spot prices.&nbsp;&nbsp;Conversely, if the predominant hedgers in the futures market are the purchasers of the wheat who purchase
Wheat Futures Contracts to hedge against a rise in prices, prices of Wheat Futures Contracts will likely be higher than expected
future spot prices.&nbsp;&nbsp;This can have significant implications for the Fund when it is time to sell a Wheat Futures Contract
that is no longer a Benchmark Component Futures Contract and purchase a new Wheat Futures Contract or to sell a Wheat Futures Contract
to meet redemption requests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>While the Fund does not intend to take physical delivery of
wheat under its Wheat Interests, the possibility of physical delivery impacts the value of the contracts.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">While it is not the current intention of the
Fund to take physical delivery of wheat under its Wheat Interests, Wheat Futures Contracts are traditionally not cash-settled contracts,
and it is possible to take delivery under these and some Other Wheat Interests.&nbsp;&nbsp;Storage costs associated with purchasing
wheat could result in costs and other liabilities that could impact the value of Wheat Futures Contracts or certain Other Wheat
Interests.&nbsp;&nbsp;Storage costs include the time value of money invested in wheat as a physical commodity plus the actual costs
of storing the wheat less any benefits from ownership of wheat that are not obtained by the holder of a futures contract.&nbsp;&nbsp;In
general, Wheat Futures Contracts have a one-month delay for contract delivery and the pricing of back month contracts (the back
month is any future delivery month other than the spot month) includes storage costs.&nbsp;&nbsp;To the extent that these storage
costs change for wheat while the Fund holds Wheat Interests, the value of the Wheat Interests, and therefore the Fund&rsquo;s NAV,
may change as well.</P>










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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The price relationship between the Benchmark Component Futures
Contracts at any point in time and the Wheat Futures Contracts that will become Benchmark Component Futures Contracts on the next
roll date will vary and may impact both the Fund&rsquo;s total return and the degree to which its total return tracks that of wheat
price indices.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The design of the Fund&rsquo;s Benchmark is
such that the Benchmark Component Futures Contracts will change five times per year, and the Fund&rsquo;s investments must be rolled
periodically to reflect the changing composition of the Benchmark.&nbsp;&nbsp;For example, when the second-to-expire Wheat Futures
Contract becomes the first-to-expire contract, such contract will no longer be a Benchmark Component Futures Contract and the Fund&rsquo;s
position in it will no longer be consistent with tracking the Benchmark.&nbsp;&nbsp;In the event of a wheat futures market where
near-to-expire contracts trade at a higher price than longer-to-expire contracts, a situation referred to as &ldquo;backwardation,&rdquo;
then absent the impact of the overall movement in wheat prices the value of the Benchmark Component Futures Contracts would tend
to rise as they approach expiration.&nbsp;&nbsp;As a result the Fund may benefit because it would be selling more expensive contracts
and buying less expensive ones on an ongoing basis.&nbsp;&nbsp;Conversely, in the event of a wheat futures market where near-to-expire
contracts trade at a lower price than longer-to-expire contracts, a situation referred to as &ldquo;contango,&rdquo; then absent
the impact of the overall movement in wheat prices the value of the Benchmark Component Futures Contracts would tend to decline
as they approach expiration. As a result the Fund&rsquo;s total return may be lower than might otherwise be the case because it
would be selling less expensive contracts and buying more expensive ones.&nbsp;&nbsp;The impact of backwardation and contango may
lead the total return of the Fund to vary significantly from the total return of other price references, such as the spot price
of wheat. In the event of a prolonged period of contango, and absent the impact of rising or falling wheat prices, this could have
a significant negative impact on the Fund&rsquo;s NAV and total return.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I> Regulation of the commodity interests and commodity markets
is extensive and constantly changing; future regulatory developments are impossible to predict but may significantly and adversely
affect the Fund. </I></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The regulation of futures markets, futures
contracts and futures exchanges has historically been comprehensive. The CFTC and the exchanges are authorized to take
extraordinary actions in the event of a market emergency including, for example, the retroactive implementation of speculative
position limits, increased margin requirements, the establishment of daily price limits and the suspension of trading. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The regulation of commodity interest transactions
in the United States is a rapidly changing area of law and is subject to ongoing modification by governmental and judicial action.
Considerable regulatory attention has been focused on non-traditional investment pools that are publicly distributed in the United
States. There is a possibility of future regulatory changes within the United States altering, perhaps to a material extent, the
nature of an investment in the Funds, or the ability of a Fund to continue to implement its investment strategy. In addition, various
national governments outside of the United States have expressed concern regarding the disruptive effects of speculative trading
in the commodities markets and the need to regulate the derivatives markets in general. The effect of any future regulatory change
on the Fund is impossible to predict but could be substantial and adverse. </P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>If you are investing in the Fund for purposes of hedging,
you might be subject to several risks, including the possibility of losing the benefit of favorable market movements.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Producers and commercial users of wheat may
use the Fund as a vehicle to hedge the risk of losses in their wheat-related transactions.&nbsp;&nbsp;There are several risks in
connection with using the Fund as a hedging device.&nbsp;&nbsp;While hedging can provide protection against an adverse movement
in market prices, it can also preclude a hedger&rsquo;s opportunity to benefit from a favorable market movement.&nbsp;&nbsp;For
instance, in a hedging transaction the hedger may be a user of a commodity concerned that the hedged commodity will increase in
price, but must recognize the risk that the price may instead decline.&nbsp;&nbsp;If this happens, the hedger will have lost the
benefit of being able to purchase the commodity at the lower price because the hedging transaction will result in a loss that would
offset (at least in part) this benefit.&nbsp;&nbsp;Thus, the hedger forgoes the opportunity to profit from favorable price movements.&nbsp;&nbsp;In
addition, if the hedge is not a perfect one, the hedger can lose on the hedging transaction and not realize an offsetting gain
in the value of the underlying item being hedged.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">When using Wheat Interests as a hedging technique,
at best, the correlation between changes in prices of futures contracts and of the items being hedged can be only approximate.
The degree of imperfection of correlation depends upon circumstances such as: variations in speculative markets, demand for futures
and for wheat products, technical influences in futures trading, and differences between anticipated costs being hedged and the
instruments underlying the standard futures contracts available for trading.&nbsp;&nbsp;Even a well-conceived hedge may be unsuccessful
to some degree because of unexpected market behavior as well as the expenses associated with creating the hedge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In addition, using an investment in the Fund
as a hedge for changes in food costs generally may not be successful because changes in the price of wheat may vary substantially
from changes in the prices of other food products. In addition, the price of wheat and the Fund&rsquo;s NAV would not reflect the
refining, transportation, and other costs that are specific to the hedger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>An investment in the Fund may provide you little or no diversification
benefits.&nbsp;&nbsp;Thus, in a declining market, the Fund may have no gains to offset your losses from other investments, and
you may suffer losses on your investment in the Fund at the same time you incur losses with respect to other asset classes.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We cannot predict to what extent the performance
of Wheat Interests will or will not correlate to the performance of other broader asset classes such as stocks and bonds. If the
Fund&rsquo;s performance were to move more directly with the financial markets, you will obtain little or no diversification benefits
from an investment in the Shares.&nbsp;&nbsp;In such a case, the Fund may have no gains to offset your losses from other investments,
and you may suffer losses on your investment in the Fund at the same time you incur losses with respect to other investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Variables such as drought, floods, weather,
embargoes, tariffs and other political events may have a larger impact on wheat and Wheat Interest prices than on traditional securities
and broader financial markets. These additional variables may create additional investment risks that subject the Fund&rsquo;s
investments to greater volatility than investments in traditional securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Lower correlation should not be confused with
negative correlation, where the performance of two asset classes would be opposite of each other. There is no historic evidence
that the spot price of wheat and prices of other financial assets such as stocks and bonds are negatively correlated.&nbsp;&nbsp;In
the absence of negative correlation, the Fund cannot be expected to be automatically profitable during unfavorable periods for
the stock market, or vice versa.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_018"></A>The Fund&rsquo;s Operating Risks</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Fund is not a registered investment company, so you do
not have the protections of the Investment Company Act of 1940.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund is not an investment company subject
to the Investment Company Act of 1940.&nbsp;&nbsp;Accordingly, you do not have the protections afforded by that statute, which,
for example, requires investment companies to have a board of directors with a majority of disinterested directors and regulates
the relationship between the investment company and its investment manager.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Sponsor has limited experience operating commodity pools.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">While certain of the Sponsor&rsquo;s principals
and employees have experience with investing in Wheat Interests and other commodity interests, the Sponsor was formed for the purpose
of sponsoring the Trust and serving as the Teucrium Funds&rsquo; commodity pool operator and has limited experience operating commodity
pools.&nbsp;&nbsp;The Sponsor currently sponsors seven Teucrium Funds, all of which have commenced operations, as of the date hereof,
but none of the Teucrium Funds had commenced operations prior to June 9, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In light of this limited experience, each of
the Teucrium Funds has limited past performance available for your review. Furthermore, the past performance of the other Teucrium
Funds will not necessarily reflect</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">their future performance or the future performance of this Fund.&nbsp;&nbsp;If
the experience of the Sponsor and its management is not adequate or suitable, the operation and performance of the Fund may be
adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Sponsor is leanly staffed and relies heavily on key personnel
to manage trading activities.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In managing and directing the day-to-day activities
and affairs of the Fund, the Sponsor relies almost entirely on a small number of individuals including Mr. Sal Gilbertie, Mr. Dale
Riker, Mr. Steve Kahler and Ms. Barbara Riker. &nbsp;If Mr. Gilbertie, Mr. Riker, Mr. Kahler or Ms. Riker were to leave or be unable
to carry out their present responsibilities, it may have an adverse effect on the management of the Fund.&nbsp;&nbsp;To the extent
that the Sponsor establishes additional commodity pools, even greater demands will be placed on these individuals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Sponsor has limited capital and may be unable to continue
to manage the Fund if it sustains continued losses.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Sponsor was formed for the purpose of
managing the Trust, including the Fund and the other Teucrium Funds, and any other series of the Trust that may be formed in the
future, and has been provided with capital primarily by its principals and a small number of outside investors.&nbsp;&nbsp;If the
Sponsor operates at a loss for an extended period, its capital will be depleted and it may be unable to obtain additional financing
necessary to continue its operations.&nbsp;&nbsp;If the Sponsor were unable to continue to provide services to the Fund, the Fund
would be terminated if a replacement sponsor could not be found. Any expenses related to the operation of the Fund would need to
be paid by the Fund at the time of termination. </P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Position limits and daily price fluctuation limits set by
the CFTC and the exchanges have the potential to cause tracking error, which could cause the price of Shares to substantially vary
from the Benchmark and prevent you from being able to effectively use the Fund as a way to hedge against wheat-related losses or
as a way to indirectly invest in wheat.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The CFTC and U.S. designated contract markets
such as the CBOT<B>&nbsp;</B>may establish position limits on the maximum net long or net short futures contracts in commodity
interests that any person or group of persons under common trading control (other than as a hedge, which an investment by the Fund
is not) may hold, own or control. For example, the current position limit for investments at any one time in CBOT Wheat Futures
Contracts are 600 spot month contracts, 12,000 contracts expiring in any other single month, and 12,000 contracts total for all
months. Cleared Wheat Swaps (i.e., Wheat Calendar Swaps as offered on the CBOT) are subject to position limits that are similar
to, but currently measured separately from, the limits on Wheat Futures Contracts.&nbsp;&nbsp;The position limits for Cleared Wheat
Swaps are 12,000 contracts expiring in any other single month, and 12,000 contracts total for all months. These position limits
are fixed ceilings that the Fund would not be able to exceed without specific CFTC authorization. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Accountability levels differ from position
limits in that they do not represent a fixed ceiling, but rather a threshold above which a futures exchange may exercise greater
scrutiny and control over an investor&rsquo;s positions. If a Fund were to exceed an applicable accountability level for investments
in futures contracts, the exchange will monitor the Fund&rsquo;s exposure and may ask for further information on its activities,
including the total size of all positions, investment and trading strategy, and the extent of liquidity resources of the Fund.
If deemed necessary by the exchange, the Fund could be ordered to reduce its aggregate net position back to the accountability
level. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> In addition to position limits and accountability,
the exchanges set daily price fluctuation limits on futures contracts.&nbsp;&nbsp;The daily price fluctuation limit establishes
the maximum amount that the price of futures contracts may vary either up or down from the previous day&rsquo;s settlement price.&nbsp;&nbsp;Once
the daily price fluctuation limit has been reached in a particular futures contract, no trades may be made at a price beyond that
limit. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>There are no independent advisers representing Fund investors.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor has consulted with legal counsel,
accountants and other advisers regarding the formation and operation of the Trust and Fund.&nbsp;&nbsp;No counsel has been appointed
to represent you in connection with the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">offering of Shares.&nbsp;&nbsp;Accordingly, you should consult your
own legal, tax and financial advisers regarding the desirability of an investment in the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>There are technical and fundamental risks inherent in the
trading system the Sponsor intends to employ.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor&rsquo;s trading system is quantitative
in nature and it is possible that the Sponsor may make errors. In addition, it is possible that a computer or software program
may malfunction and cause an error in computation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Fund and the Sponsor may have conflicts of interest, which
may cause them to favor their own interests to your detriment.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund and the Sponsor may have inherent conflicts
to the extent the Sponsor attempts to maintain the Fund&rsquo;s asset size in order to preserve its fee income and this may not
always be consistent with the Fund&rsquo;s objective of having the value of its Shares&rsquo; NAV track changes in the Benchmark.
The Sponsor&rsquo;s officers and employees do not necessarily devote their time exclusively to the Fund. These persons may be directors,
officers or employees of other entities. They could have a conflict between their responsibilities to the Fund and to those other
entities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In addition, the Sponsor&rsquo;s principals,
officers or employees may trade futures and related contracts for their own accounts. A conflict of interest may exist if their
trades are in the same markets and at the same time as the Fund trades using the clearing broker to be used by the Fund. A potential
conflict also may occur if the Sponsor&rsquo;s principals, officers or employees trade their accounts more aggressively or take
positions in their accounts that are opposite, or ahead of, the positions taken by the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Sponsor has sole current authority to
manage the investments and operations of the Fund, and this may allow it to act in a way that furthers its own interests and in
conflict with your best interests, including the authority of the Sponsor to allocate expenses to and between the Funds. Shareholders
have very limited voting rights, which will limit the ability to influence matters such as amendment of the Trust Agreement, changes
in the Fund&rsquo;s basic investment policies, dissolution of the Fund, or the sale or distribution of the Fund&rsquo;s assets. </P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Shareholders have only very limited voting rights and generally
will not have the power to replace the Sponsor. Shareholders will not participate in the management of the Fund and do not control
the Sponsor so they will not have influence over basic matters that affect the Fund.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Shareholders will have very limited voting rights
with respect to the Fund&rsquo;s affairs. Shareholders may elect a replacement Sponsor only if the current Sponsor resigns voluntarily
or loses its corporate charter. Shareholders will not be permitted to participate in the management or control of the Fund or the
conduct of its business. Shareholders must therefore rely upon the duties and judgment of the Sponsor to manage the Fund&rsquo;s
affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Sponsor may manage a large amount of assets and this could
affect the Fund&rsquo;s ability to trade profitably.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Increases in assets under management may affect
trading decisions. While the Fund&rsquo;s assets are currently at manageable levels, the Sponsor does not intend to limit the amount
of Fund assets. The more assets the Sponsor manages, the more difficult it may be for it to trade profitably because of the difficulty
of trading larger positions without adversely affecting prices and performance and of managing risk associated with larger positions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The liability of the Sponsor and the Trustee are limited,
and the value of the Shares will be adversely affected if the Fund is required to indemnify the Trustee or the Sponsor.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Under the Trust Agreement, the Trustee and the
Sponsor are not liable, and have the right to be indemnified, for any liability or expense incurred absent gross negligence or
willful misconduct on the part of the Trustee or Sponsor, as the case may be. That means the Sponsor may require the assets of
the Fund to be</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">sold in order to cover losses or liability suffered by the Sponsor
or by the Trustee. Any sale of that kind would reduce the NAV of the Fund and the value of its Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Although the Shares of the Fund are limited liability investments,
certain circumstances such as bankruptcy could increase a Shareholder&rsquo;s liability.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Shares of the Fund are limited liability
investments; Shareholders may not lose more than the amount that they invest plus any profits recognized on their investment. However,
Shareholders could be required, as a matter of bankruptcy law, to return to the estate of the Fund any distribution they received
at a time when the Fund was in fact insolvent or in violation of its Trust Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT><FONT STYLE="font-size: 10pt"><B><I>You
cannot be assured of the Sponsor&rsquo;s continued services, and discontinuance may be detrimental to the Fund.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">You cannot be assured that the Sponsor will
be willing or able to continue to service the Fund for any length of time. The Sponsor was formed for the purpose of sponsoring
the Fund and other commodity pools, and has limited financial resources and no significant source of income apart from its management
fees from such commodity pools to support its continued service for the Fund.&nbsp;&nbsp;If the Sponsor discontinues its activities
on behalf of the Fund, the Fund may be adversely affected.&nbsp;&nbsp;If the Sponsor&rsquo;s registrations with the CFTC or memberships
in the NFA were revoked or suspended, the Sponsor would no longer be able to provide services to the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Fund could terminate at any time and cause the liquidation
and potential loss of your investment and could upset the overall maturity and timing of your investment portfolio.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Fund may terminate at any time, regardless
of whether the Fund has incurred losses, subject to the terms of the Trust Agreement.&nbsp;&nbsp;For example, the dissolution or
resignation of the Sponsor would cause the Trust to terminate unless shareholders holding a majority of the outstanding shares
of the Trust, voting together as a single class, elect within 90 days of the event to continue the Trust and appoint a successor
Sponsor.&nbsp;&nbsp;In addition, the Sponsor may terminate the Fund if it determines that the Fund&rsquo;s aggregate net assets
in relation to its operating expenses make the continued operation of the Fund unreasonable or imprudent.&nbsp;As of the date of
this prospectus, the Fund pays the fees, costs, and expenses of its operations. If the Sponsor and the Fund are unable to raise
sufficient funds so that the Fund&rsquo;s expenses are reasonable in relation to the NAV, the Fund may be forced to terminate and
investors may lose all or part of their investment. Any expenses related to the operation of the Fund would need to be paid by
the Fund at the time of termination. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;However, no level of losses will require
the Sponsor to terminate the Fund.&nbsp;&nbsp;The Fund&rsquo;s termination would result in the liquidation of its investments and
the distribution of its remaining assets to the Shareholders on a pro rata basis in accordance with their Shares, and the Fund
could incur losses in liquidating its investments in connection with a termination.&nbsp;&nbsp;Termination could also negatively
affect the overall maturity and timing of your investment portfolio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>As a Shareholder, you will not have the rights enjoyed by
investors in certain other types of entities.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As interests in separate series of a Delaware
statutory trust, the Shares do not involve the rights normally associated with the ownership of shares of a corporation (including,
for example, the right to bring shareholder oppression and derivative actions).&nbsp;&nbsp;In addition, the Shares have limited
voting and distribution rights (for example, Shareholders do not have the right to elect directors, as the Trust does not have
a board of directors, and generally will not receive regular distributions of the net income and capital gains earned by the Fund).&nbsp;&nbsp;The
Fund is also not subject to certain investor protection provisions of the Sarbanes Oxley Act of 2002 and the NYSE Arca governance
rules (for example, audit committee requirements).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>A court could potentially conclude that the assets and liabilities
of the Fund are not segregated from those of another series of the Trust, thereby potentially exposing assets in the Fund to the
liabilities of another series.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund is a series of a Delaware statutory
trust and not itself a legal entity separate from the other Teucrium Funds. The Delaware Statutory Trust Act provides that if certain
provisions are included in the formation and governing documents of a statutory trust organized in series and if separate and distinct
records are maintained for any series and the assets associated with that series are held in separate and distinct records and
are accounted for in such separate and distinct records separately from the other assets of the statutory trust, or any series
thereof, then the debts, liabilities, obligations and expenses incurred by a particular series are enforceable against the assets
of such series only, and not against the assets of the statutory trust generally or any other series thereof.&nbsp;&nbsp;Conversely,
none of the debts, liabilities, obligations and expenses incurred with respect to any other series thereof is enforceable against
the assets of such series.&nbsp;&nbsp;The Sponsor is not aware of any court case that has interpreted this inter-series limitation
on liability or provided any guidance as to what is required for compliance.&nbsp;&nbsp;The Sponsor intends to maintain separate
and distinct records for the Fund and account for the Fund separately from any other Trust series, but it is possible a court could
conclude that the methods used do not satisfy the Delaware Statutory Trust Act, which would potentially expose assets in the Fund
to the liabilities of one or more of the Teucrium Funds and/or any other Trust series created in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Sponsor and the Trustee are not obligated to prosecute
any action, suit or other proceeding in respect of any Fund property.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Neither the Sponsor nor the Trustee is obligated
to, although each may in its respective discretion, prosecute any action, suit or other proceeding in respect of any Fund property.&nbsp;&nbsp;The
Trust Agreement does not confer upon Shareholders the right to prosecute any such action, suit or other proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Fund does not expect to make cash distributions.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor intends to re-invest any income
and realized gains of the Fund in additional Wheat Interests rather than distributing cash to Shareholders.&nbsp;&nbsp;Therefore,
unlike mutual funds, commodity pools or other investment pools that generally distribute income and gains to their investors, the
Fund generally will not distribute cash to Shareholders.&nbsp;&nbsp;You should not invest in the Fund if you will need cash distributions
from the Fund to pay taxes on your share of income and gains of the Fund, if any, or for any other reason.&nbsp;&nbsp;Although
the Fund does not intend to make cash distributions, the income earned from its investments held directly or posted as margin may
reach levels that merit distribution, e.g., at levels where such income is not necessary to support its underlying investments
in Wheat Interests and investors adversely react to being taxed on such income without receiving distributions that could be used
to pay such tax.&nbsp;&nbsp;Cash distributions may be made in these and similar instances.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>There is a risk that the Fund will not earn gains sufficient
to compensate for the fees and expenses that it must pay and as such the Fund may not earn any profit.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Fund pays management fees at an annual
rate of 1.00% of its average net assets, brokerage charges and various other expenses of its ongoing operations (e.g., fees of
the Administrator, Trustee and Distributor), resulting in a total estimated expense ratio of approximately 2.46% of net assets
(not including the transaction fees paid by Authorized Purchasers when purchasing or redeeming Creation Baskets and spreads on
over the counter transactions that are built in to the price of the instrument being purchased or sold).&nbsp;&nbsp;These fees
and expenses must be paid in all events, regardless of whether the Fund&rsquo;s activities are profitable.&nbsp;&nbsp;Accordingly,
the Fund must realize interest income and/or gains on Wheat Interests sufficient to cover these fees and expenses before it can
earn any profit. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>If this offering of Shares does not raise sufficient funds
to make the Fund&rsquo;s future operations viable, the Fund may be forced to terminate and investors may lose all or part of their
investment.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">All of the expenses relating to the Fund incurred
prior to the commencement of operations (September 19, 2011) were paid by the Sponsor. These payments by the Sponsor were designed
to allow the Fund the ability to commence the public offering of its Shares. As of the date of this prospectus, the Fund pays
the fees, </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> costs and expenses of its operations.&nbsp;&nbsp;If the Sponsor
and the Fund are unable to raise sufficient funds so that the Fund&rsquo;s expenses are reasonable in relation to its NAV, the
Fund may be forced to terminate and investors may lose all or part of their investment. Any expenses related to the operation of
the Fund would need to be paid by the Fund at the time of termination. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Fund may incur higher fees and expenses upon renewing
existing or entering into new contractual relationships.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The arrangements between clearing brokers and
counterparties on the one hand and the Fund on the other generally are terminable by the clearing brokers or counterparty upon
notice to the Fund.&nbsp;&nbsp;In addition, the agreements between the Fund and its third-party service providers, such as the
Distributor and the Custodian, are generally terminable at specified intervals.&nbsp;&nbsp;Upon termination, the Sponsor may be
required to renegotiate or make other arrangements for obtaining similar services if the Fund intends to continue to operate.&nbsp;&nbsp;Comparable
services from another party may not be available, or even if available, these services may not be available on the terms as favorable
as those of the expired or terminated arrangements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Fund may miss certain trading opportunities because it
will not receive the benefit of the expertise of independent trading advisors.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor does not employ trading advisors
for the Fund; however, it reserves the right to employ them in the future.&nbsp;&nbsp;The only advisor to the Fund is the Sponsor.&nbsp;&nbsp;A
lack of independent trading advisors may be disadvantageous to the Fund because it will not receive the benefit of their expertise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Net Asset Value calculation of the Fund may be overstated
or understated due to the valuation method employed when a settlement price is not available on the date of net asset value calculation.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund&rsquo;s NAV includes, in part, any
unrealized profits or losses on open swap agreements, futures or forward contracts. Under normal circumstances, the NAV reflects
the quoted CBOT settlement price of open futures contracts on the date when the NAV is being calculated. In instances when the
quoted settlement price of futures contract traded on an exchange may not be reflective of fair value based on market condition,
generally due to the operation of daily limits or other rules of the exchange or otherwise, the NAV may not reflect the fair value
of open future contracts on such date. For purposes of financial statements and reports, the Sponsor will recalculate the NAV where
necessary to reflect the &ldquo;fair value&rdquo; of a Futures Contract when the Futures Contract closes at its price fluctuation
limit for the day.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The financial markets have recently been in a period of disruption
and recession and these conditions may not improve in the near future.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A period of recession for the economy as a whole
began in 2008, and the financial markets experienced very difficult conditions and volatility during that period.&nbsp;&nbsp;The
conditions in these markets resulted in a decrease in availability of corporate credit and liquidity and led indirectly to the
insolvency, closure or acquisition of a number of major financial institutions and contributed to further consolidation within
the financial services industry.&nbsp;&nbsp;A continued recession or a slow recovery could adversely affect the financial condition
and results of operations of the Fund&rsquo;s service providers and Authorized Purchasers, which would impact the ability of the
Sponsor to achieve the Fund&rsquo;s investment objective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The liquidity of the Shares may be affected by the withdrawal
from participation of Authorized Purchasers, or market makers, which could adversely affect the market price of the Shares.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In the event that one or more Authorized Purchasers
that are actively involved in purchasing and selling Shares cease to be so involved, the liquidity of the Shares will likely decrease,
which could adversely affect the market price of the Shares and result in your incurring a loss on your investment. In addition,
a decision by a market maker or lead market maker to cease activities for the Fund could adversely affect liquidity, the spread
between the bid and ask quotes, and potentially the price of the Shares. The Sponsor can make no guarantees that participation
by Authorized Purchasers or market makers will continue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>You may be adversely affected by redemption orders that are
subject to postponement, suspension or rejection under certain circumstances.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Trust may, in its discretion, suspend
the right to redeem Shares of the Fund or postpone the redemption settlement date:&nbsp;&nbsp;(1) for any period during which an
applicable exchange is closed other than customary weekend or holiday closing, or trading is suspended or restricted; (2) for any
period during which an emergency exists as a result of which delivery, disposal or evaluation of the Fund&rsquo;s assets is not
reasonably practicable; (3) for such other period as the Sponsor determines to be necessary for the protection of Shareholders;
(4) if there is a possibility that any or all of the Benchmark Component Futures Contracts of the Fund on the CBOT from which the
NAV of the Fund is calculated will be priced at a daily price limit restriction; or (5) if, in the sole discretion of the Sponsor,
the execution of such an order would not be in the best interest of the Fund or its Shareholders. In addition, the Trust will reject
a redemption order if the order is not in proper form as described in the agreement with the Authorized Purchaser or if the fulfillment
of the order, in the opinion of its counsel, might be unlawful.&nbsp;&nbsp;The Sponsor may also reject a redemption order if the
number of Shares being redeemed would reduce the remaining outstanding Shares to 50,000 Shares (i.e., two baskets of 25,000 Shares
each) or less, unless the Sponsor has reason to believe that the placer of the redemption order does in fact possess all the outstanding
Shares of the Fund and can deliver them. Any such postponement, suspension or rejection could adversely affect a redeeming Shareholder.&nbsp;&nbsp;For
example, the resulting delay may adversely affect the value of the Shareholder&rsquo;s redemption proceeds if the NAV of the Fund
declines during the period of delay.&nbsp;&nbsp;The Trust Agreement provides that the Sponsor and its designees will not be liable
for any loss or damage that may result from any such suspension or postponement. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Any postponement, suspension or rejection
of a redemption order could adversely affect a redeeming Shareholder. For example, the resulting delay may adversely affect the
value of a Shareholder&rsquo;s redemption proceeds if the NAV of the Fund declines during the period of delay. The Trust Agreement
provides that the Sponsor and its designees will not be liable for any loss or damage that may result from any such suspension
or postponement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;<B><I>The failure or bankruptcy of a clearing
broker could result in substantial losses for the Fund; the clearing broker could be subject to proceedings that impair its ability
to execute the Fund&rsquo;s trades.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Under CFTC regulations, a clearing broker with
respect to the Fund&rsquo;s exchange-traded Wheat Interests must maintain customers&rsquo; assets in a bulk segregated account.&nbsp;&nbsp;If
a clearing broker fails to do so, or is unable to satisfy a substantial deficit in a customer account, its other customers may
be subject to risk of a substantial loss of their funds in the event of that clearing broker&rsquo;s bankruptcy.&nbsp;&nbsp;In
that event, the clearing broker&rsquo;s customers, such as the Fund, are entitled to recover, even in respect of property specifically
traceable to them, only a proportional share of all property available for distribution to all of that clearing broker&rsquo;s
customers.&nbsp;&nbsp;The Fund also may be subject to the risk of the failure of, or delay in performance by, any exchanges and
markets and their clearing organizations, if any, on which Wheat Interests are traded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">From time to time, the clearing brokers may
be subject to legal or regulatory proceedings in the ordinary course of their business.&nbsp;&nbsp;A clearing broker&rsquo;s involvement
in costly or time-consuming legal proceedings may divert financial resources or personnel away from the clearing broker&rsquo;s
trading operations, which could impair the clearing broker&rsquo;s ability to successfully execute and clear the Fund&rsquo;s trades.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;<I>The failure or insolvency of the
Fund&rsquo;s Custodian could result in a substantial loss of the Fund&rsquo;s assets.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As noted above, the vast majority of the Fund&rsquo;s
assets are held in short-term Treasury Securities, cash and/or cash equivalents with the Custodian.&nbsp;&nbsp;The insolvency of
the Custodian could result in a complete loss of the Fund&rsquo;s assets held by the Custodian, which, at any given time, would
likely comprise a substantial portion of the Fund&rsquo;s total assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>






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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Third parties may infringe upon or otherwise violate intellectual
property rights or assert that the Sponsor has infringed or otherwise violated their intellectual property rights, which may result
in significant costs and diverted attention.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Third parties may assert that the Sponsor has
infringed or otherwise violated their intellectual property rights.&nbsp;&nbsp;Third parties may independently develop business
methods, trademarks or proprietary software and other technology similar to that of the Sponsor and claim that the Sponsor has
violated their intellectual property rights, including their copyrights, trademark rights, trade names, trade secrets and patent
rights.&nbsp;&nbsp;As a result, the Sponsor may have to litigate in the future to determine the validity and scope of other parties&rsquo;
proprietary rights, or defend itself against claims that it has infringed or otherwise violated other parties&rsquo; rights.&nbsp;&nbsp;Any
litigation of this type, even if the Sponsor is successful and regardless of the merits, may result in significant costs, divert
resources from the Fund, or require the Sponsor to change its proprietary software and other technology or enter into royalty or
licensing agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Sponsor has a patent on certain business
methods and procedures used with respect to the Fund. The Sponsor utilizes certain proprietary software. Any unauthorized use of
such proprietary software , business methods and/or procedures could adversely affect the competitive advantage of the Sponsor
or the Fund and/or cause the Sponsor to take legal action to protect its rights. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The success of the Fund depends on the ability of the Sponsor
to accurately implement its trading strategies, and any failure to do so could subject the Fund to losses on such transactions.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor&rsquo;s trading strategy is quantitative
in nature and it is possible that the Sponsor will make errors in its implementation.&nbsp;&nbsp;The execution of the quantitative
strategy is subject to human error, such as incorrect inputs into the Sponsor&rsquo;s computer systems and incorrect information
provided to the Fund&rsquo;s clearing brokers.&nbsp;&nbsp;In addition, it is possible that a computer or software program may malfunction
and cause an error in computation.&nbsp;&nbsp;Any failure, inaccuracy or delay in executing the Fund&rsquo;s transactions could
affect its ability to achieve its investment objective.&nbsp;&nbsp;It could also result in decisions to undertake transactions
based on inaccurate or incomplete information.&nbsp;&nbsp;This could cause substantial losses on transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Fund may experience substantial losses
on transactions if the computer or communications system fails.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund&rsquo;s trading activities depend on
the integrity and performance of the computer and communications systems supporting them.&nbsp;&nbsp;Extraordinary transaction
volume, hardware or software failure, power or telecommunications failure, a natural disaster or other catastrophe could cause
the computer systems to operate at an unacceptably slow speed or even fail.&nbsp;&nbsp;Any significant degradation or failure of
the systems that the Sponsor uses to gather and analyze information, enter orders, process data, monitor risk levels and otherwise
engage in trading activities may result in substantial losses on transactions, liability to other parties, lost profit opportunities,
damages to the Sponsor&rsquo;s and Fund&rsquo;s reputations, increased operational expenses and diversion of technical resources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>If the computer and communications systems are not upgraded
when necessary, the Fund&rsquo;s financial condition could be harmed.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The development of complex computer and communications
systems and new technologies may render the existing computer and communications systems supporting the Fund&rsquo;s trading activities
obsolete.&nbsp;&nbsp;In addition, these computer and communications systems must be compatible with those of third parties, such
as the systems of exchanges, clearing brokers and the executing brokers.&nbsp;&nbsp;As a result, if these third parties upgrade
their systems, the Sponsor will need to make corresponding upgrades to effectively continue its trading activities. The Fund&rsquo;s
future success may depend on the Fund&rsquo;s ability to respond to changing technologies on a timely and cost-effective basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I></I></B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Fund depends on the reliable performance of the computer
and communications systems of third parties, such as brokers and futures exchanges, and may experience substantial losses on transactions
if they fail.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund depends on the proper and timely function
of complex computer and communications systems maintained and operated by the futures exchanges, brokers and other data providers
that the Sponsor uses to conduct trading activities.&nbsp;&nbsp;Failure or inadequate performance of any of these systems could
adversely affect the Sponsor&rsquo;s ability to complete transactions, including its ability to close out positions, and result
in lost profit opportunities and significant losses on commodity interest transactions.&nbsp;&nbsp;This could have a material adverse
effect on revenues and materially reduce the Fund&rsquo;s available capital.&nbsp;&nbsp;For example, unavailability of price quotations
from third parties may make it difficult or impossible for the Sponsor to conduct trading activities so that the Fund will closely
track the Benchmark.&nbsp;&nbsp;Unavailability of records from brokerage firms may make it difficult or impossible for the Sponsor
to accurately determine which transactions have been executed or the details, including price and time, of any transaction executed.&nbsp;&nbsp;This
unavailability of information also may make it difficult or impossible for the Sponsor to reconcile its records of transactions
with those of another party or to accomplish settlement of executed transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The occurrence of a natural disaster, terrorist attack, or
the outbreak, continuation or expansion of war or other hostilities could disrupt the Fund&rsquo;s trading activity and materially
affect the Fund&rsquo;s profitability.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The operations of the Fund, the exchanges, brokers
and counterparties with which Fund does business, and the markets in which the Fund does business could be severely disrupted in
the event of a natural disaster, major terrorist attack or the outbreak, continuation or expansion of war or other hostilities.
Global terrorist attacks, anti-terrorism initiatives and political unrest continue to fuel this concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The NYSE Arca may halt trading in the Shares which would adversely
impact your ability to sell Shares.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Trading in Shares of the Fund may be halted
due to market conditions or, in light of NYSE Arca rules and procedures, for reasons that, in view of the NYSE Arca, make trading
in Shares inadvisable.&nbsp; In addition, trading is subject to trading halts caused by extraordinary market volatility pursuant
to &ldquo;circuit breaker&rdquo; rules that require trading to be halted for a specified period based on a specified market decline.&nbsp;
There can be no assurance that the requirements necessary to maintain the listing of the Shares will continue to be met or will
remain unchanged.&nbsp; The Fund will be terminated if its Shares are delisted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The lack of active trading markets for the Shares of the Fund
may result in losses on your investment in the Fund at the time of disposition of your Shares.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Although the Shares of the Fund will be listed
and traded on the NYSE Arca, there can be no guarantee that an active trading market for the Shares of the Fund will be maintained.
If you need to sell your Shares at a time when no active market for them exists, the price you receive for your Shares, assuming
that you are able to sell them, likely will be lower than what you would receive if an active market did exist.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="a_019"></A><B>Risk of Leverage and Volatility</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>If the Sponsor causes or permits the Fund to become leveraged,
you could lose all or substantially all of your investment if the Fund&rsquo;s trading positions suddenly turn unprofitable.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Commodity pools&rsquo; trading positions
in futures contracts or other commodity interests are typically required to be secured by the deposit of margin funds that represent
only a small percentage of a futures contract&rsquo;s (or other commodity interest&rsquo;s) entire market value.&nbsp;&nbsp;This
feature permits commodity pools to &ldquo;leverage&rdquo; their assets by purchasing or selling futures contracts (or other commodity
interests) with an aggregate notional amount in excess of the commodity pool&rsquo;s assets.&nbsp;&nbsp;While this leverage can
increase a pool&rsquo;s profits, relatively small adverse movements in the price of the pool&rsquo;s commodity interests can cause
significant losses to the pool.&nbsp;&nbsp;While the Sponsor does not intend to leverage the Fund&rsquo;s assets, it is not prohibited
from doing so under the Trust Agreement.&nbsp;&nbsp;If the Sponsor was to cause or permit the Fund to become leveraged, you could
lose all or substantially all of your investment if the Fund&rsquo;s trading positions suddenly turn unprofitable. </P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The price of wheat can be volatile which could cause large
fluctuations in the price of Shares.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As discussed in more detail above, price movements
for wheat are influenced by, among other things, weather conditions, crop disease, transportation difficulties, various planting,
growing and harvesting problems, governmental policies, changing demand, and seasonal fluctuations in supply.&nbsp;&nbsp;More generally,
commodity prices may be influenced by economic and monetary events such as changes in interest rates, changes in balances of payments
and trade, U.S. and international inflation rates, currency valuations and devaluations, U.S. and international economic events,
and changes in the philosophies and emotions of market participants.&nbsp;&nbsp;Because the Fund invests primarily in interests
in a single commodity, it is not a diversified investment vehicle, and therefore may be subject to greater volatility than a diversified
portfolio of stocks or bonds or a more diversified commodity pool.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_020"></A>Over-the-Counter Contract Risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Over-the-counter transactions are subject to changing.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> A portion of the Fund&rsquo;s assets may be used to trade over-the-counter
Wheat Interests, such as forward contracts or swaps. The markets for over-the-counter contracts will continue to rely upon the
integrity of market participants in lieu of the additional regulation imposed by the CFTC on participants in the futures markets.
To date, the forward markets have been largely unregulated, forward contracts have been executed bi-laterally and, in general historically,
forward contracts have not been cleared or guaranteed by a third party. While increased regulation of over-the-counter Commodity
Interests is likely to result from changes that are required to be effectuated by the Dodd-Frank Act, there is no guarantee that
such increased regulation will be effective to reduce these risks. <B>&nbsp;</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Fund will be subject to credit risk with respect to counterparties
to over-the-counter contracts entered into by the Fund.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund faces the risk of non-performance by
the counterparties to the over-the-counter contracts.&nbsp;&nbsp;Unlike in futures contracts, the counterparty to these contracts
is generally a single bank or other financial institution, rather than a clearing organization backed by a group of financial institutions.&nbsp;&nbsp;As
a result, there will be greater counterparty credit risk in these transactions.&nbsp;&nbsp;A counterparty may not be able to meet
its obligations to the Fund, in which case the Fund could suffer significant losses on these contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If a counterparty becomes bankrupt or otherwise
fails to perform its obligations due to financial difficulties, the Fund may experience significant delays in obtaining any recovery
in a bankruptcy or other reorganization proceeding.&nbsp;&nbsp;During any such period, the Fund may have difficulty in determining
the value of its contracts with the counterparty, which in turn could result in the overstatement or understatement of the Fund&rsquo;s
NAV.&nbsp;&nbsp;The Fund may eventually obtain only limited recovery or no recovery in such circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>The Fund may be subject to liquidity risk with respect
to its over-the-counter contracts.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Over-the-counter contracts may have terms that
make them less marketable than Futures Contracts or cleared swaps. Over-the-counter contracts are less marketable because they
are not traded on an exchange, do not have uniform terms and conditions, and are entered into based upon the creditworthiness of
the parties and the availability of credit support, such as collateral, and in general, they are not transferable without the consent
of the counterparty. These conditions make such contracts less liquid than standardized futures contracts traded on a commodities
exchange and diminish the ability to realize the full value of such contracts. In addition, even if collateral is used to reduce
counterparty credit risk, sudden changes in the value of over-the-counter transactions may leave a party open to financial risk
due to a counterparty default since the collateral held may not cover a party&rsquo;s exposure on the transaction in such situations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In general, valuing OTC derivatives is less
certain than valuing actively traded financial instruments such as exchange traded futures contracts and securities or cleared
swaps because the price and terms on which such OTC derivatives are entered into or can be terminated are individually negotiated,
and those prices and terms may not reflect the best price or terms available from other sources. In addition, while market makers
and</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">dealers generally quote indicative prices or terms for entering
into or terminating OTC contracts, they typically are not contractually obligated to do so, particularly if they are not a party
to the transaction. As a result, it may be difficult to obtain an independent value for an outstanding OTC derivatives transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The foregoing liquidity risks could impact adversely
affect the Fund&rsquo;s ability to meet its investment objective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="a_021"></A><B>Risk of Trading in International Markets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Trading in international markets would expose the Fund to
credit and regulatory risk.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A significant portion of the Wheat Futures Contracts
entered into by the Fund are traded on United States exchanges including the CBOT.&nbsp;&nbsp;However, a portion of the Fund&rsquo;s
trades may take place on markets and exchanges outside the United States.&nbsp;&nbsp;Some non-U.S. markets present risks because
they are not subject to the same degree of regulation as their U.S. counterparts.&nbsp;&nbsp;None of the CFTC, NFA, or any domestic
exchange regulates activities of any foreign boards of trade or exchanges, including the execution, delivery and clearing of transactions,
nor has the power to compel enforcement of the rules of a foreign board of trade or exchange or of any applicable non-U.S. laws.&nbsp;&nbsp;Similarly,
the rights of market participants, such as the Fund, in the event of the insolvency or bankruptcy of a non-U.S. market or broker
are also likely to be more limited than in the case of U.S. markets or brokers.&nbsp;&nbsp;As a result, in these markets, the Fund
has less legal and regulatory protection than it does when it trades domestically.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In some of these non-U.S. markets, the performance
on a futures contract is the responsibility of the counterparty and is not backed by an exchange or clearing corporation and therefore
exposes the Fund to credit risk.&nbsp;&nbsp;Additionally, trading on non-U.S. exchanges is subject to the risks presented by exchange
controls, expropriation, increased tax burdens and exposure to local economic declines and political instability.&nbsp;&nbsp;An
adverse development with respect to any of these variables could reduce the profit or increase the loss earned on trades in the
affected international markets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>International trading activities subject the Fund to foreign
exchange risk.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The price of any non-U.S. Wheat Interest and,
therefore, the potential profit and loss on such investment, may be affected by any variance in the foreign exchange rate between
the time the order is placed and the time it is liquidated, offset or exercised.&nbsp;&nbsp;As a result, changes in the value of
the local currency relative to the U.S. dollar may cause losses to the Fund even if the contract is profitable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Fund&rsquo;s international trading could expose it to
losses resulting from non-U.S. exchanges that are less developed or less reliable than United States exchanges.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Some non-U.S. exchanges also may be in a more
developmental stage so that prior price histories may not be indicative of current price dynamics.&nbsp;&nbsp;In addition, the
Fund may not have the same access to certain positions on foreign trading exchanges as do local traders, and the historical market
data on which the Sponsor bases its strategies may not be as reliable or accessible as it is for U.S. exchanges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_022"></A>Tax Risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Please refer to &ldquo;U.S. Federal Income Tax
Considerations&rdquo; for information regarding the U.S. federal income tax consequences of the purchase, ownership and disposition
of Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Your tax liability from holding Shares may exceed the amount
of distributions, if any, on your Shares.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Cash or property will be distributed at the
sole discretion of the Sponsor, and the Sponsor currently does not intend to make cash or other distributions with respect to Shares.&nbsp;&nbsp;You
will be required to pay U.S. federal income tax and, in some cases, state, local, or foreign income tax, on your allocable share
of the Fund&rsquo;s taxable income, without regard to whether you receive distributions or the amount of any</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">distributions.&nbsp;&nbsp;Therefore, the tax liability resulting
from your ownership of Shares may exceed the amount of cash or value of property (if any) distributed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Your allocable share of income or loss for U.S. federal income
tax purposes may differ from your economic income or loss on your Shares.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Due to the application of the assumptions and
conventions applied by the Fund in making allocations for U.S. federal income tax purposes and other factors, your allocable share
of the Fund&rsquo;s income, gain, deduction or loss may be different than your economic profit or loss from your Shares for a taxable
year.&nbsp;&nbsp;This difference could be temporary or permanent and, if permanent, could result in your being taxed on amounts
in excess of your economic income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Items of income, gain, deduction, loss and credit with respect
to Shares could be reallocated if the IRS does not accept the assumptions and conventions applied by the Fund in allocating those
items, with potential adverse tax consequences for you.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund is treated as a partnership for United
States federal income tax purposes.&nbsp;&nbsp;The U.S. tax rules pertaining to entities taxed as partnerships are complex and
their application to publicly traded partnerships such as the Fund is in many respects uncertain.&nbsp;&nbsp;The Fund applies certain
assumptions and conventions in an attempt to comply with the intent of the applicable rules and to report taxable income, gains,
deductions, losses and credits in a manner that properly reflects Shareholders&rsquo; economic gains and losses.&nbsp;&nbsp;These
assumptions and conventions may not fully comply with all aspects of the Internal Revenue Code (the &ldquo;Code&rdquo;) and applicable
Treasury Regulations, however, and it is possible that the U.S. Internal Revenue Service (the &ldquo;IRS&rdquo;) will successfully
challenge our allocation methods and require us to reallocate items of income, gain, deduction, loss or credit in a manner that
adversely affects you.&nbsp;&nbsp;If this occurs, you may be required to file an amended tax return and to pay additional taxes
plus deficiency interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The Fund could be treated as a corporation for federal income
tax purposes, which may substantially reduce the value of your Shares.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trust has received an opinion of counsel
that, under current U.S. federal income tax laws, the Fund will be treated as a partnership that is not taxable as a corporation
for U.S. federal income tax purposes, provided that (i) at least 90 percent of the Fund&rsquo;s annual gross income consists of
&ldquo;qualifying income&rdquo; as defined in the Code, (ii) the Fund is organized and operated in accordance with its governing
agreements and applicable law, and (iii) the Fund does not elect to be taxed as a corporation for federal income tax purposes.&nbsp;&nbsp;Although
the Sponsor anticipates that the Fund has satisfied and will continue to satisfy the &ldquo;qualifying income&rdquo; requirement
for all of its taxable years, that result cannot be assured.&nbsp;&nbsp;The Fund has not requested and will not request any ruling
from the IRS with respect to its classification as a partnership not taxable as a corporation for federal income tax purposes.&nbsp;&nbsp;If
the IRS were to successfully assert that the Fund is taxable as a corporation for federal income tax purposes in any taxable year,
rather than passing through its income, gains, losses and deductions proportionately to Shareholders, the Fund would be subject
to tax on its net income for the year at corporate tax rates.&nbsp;&nbsp;In addition, although the Sponsor does not currently intend
to make distributions with respect to Shares, any distributions would be taxable to Shareholders as dividend income.&nbsp;&nbsp;Taxation
of the Fund as a corporation could materially reduce the after-tax return on an investment in Shares and could substantially reduce
the value of your Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>PROSPECTIVE INVESTORS ARE STRONGLY URGED TO CONSULT THEIR
OWN TAX ADVISORS WITH RESPECT TO THE POSSIBLE TAX CONSEQUENCES TO THEM OF AN INVESTMENT IN SHARES; SUCH TAX CONSEQUENCES MAY DIFFER
IN RESPECT OF DIFFERENT INVESTORS.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_023"></A>THE OFFERING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="a_024"></A><B>The Fund in General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund is a series of the Trust, a statutory
trust organized under the laws of the State of Delaware on September 11, 2009.&nbsp;&nbsp;Currently, the Trust has seven series
that are separate operating commodity pools: the Teucrium Corn Fund, the Teucrium Wheat Fund, the Teucrium Soybean Fund, the Teucrium
Sugar Fund, the Teucrium Agricultural Fund, the Teucrium Natural Gas Fund, and the Teucrium WTI Crude Oil Fund. Additional series
of the Trust may be created in the future at the Sponsor&rsquo;s discretion. &nbsp;The Fund maintains its main business office
at 232 Hidden Lake Road, Building A, Brattleboro, Vermont 05301.&nbsp;&nbsp;The Fund is a commodity pool.&nbsp;&nbsp;It operates
pursuant to the terms of the Trust Agreement, which is dated as of October 21, 2010 and grants full management control to the Sponsor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund is publicly traded, and seeks to have
the daily changes in percentage terms of the Shares&rsquo; NAV reflect the daily changes in percentage terms of the price of wheat
for future delivery, as measured by the Benchmark.&nbsp;&nbsp;The Fund invests in a mixture of listed Wheat Futures Contracts,
Cleared Wheat Swaps, Other Wheat Interests, short-term Treasury Securities, cash and cash equivalents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="a_025"></A><B>The Sponsor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor of the Trust is Teucrium Trading,
LLC, a Delaware limited liability company.&nbsp;&nbsp;The principal office of the Sponsor and the Trust are located at 232 Hidden
Lake Road, Building A, Brattleboro, Vermont 05301.&nbsp;&nbsp;The Sponsor registered as a CPO with the CFTC and became a member
of the NFA on November 10, 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Fund is a series of the Trust, a statutory
trust organized under the laws of the State of Delaware on September 11, 2009. Currently, the Trust has seven series that are separate
operating commodity pools: the Teucrium Corn Fund, the Teucrium Wheat Fund, the Teucrium Soybean Fund, the Teucrium Sugar Fund,
the Teucrium Agricultural Fund (&ldquo;TAGS&rdquo;), the Teucrium Natural Gas Fund, and the Teucrium WTI Crude Oil Fund. See &ldquo;Prior
Performance of the Sponsor and Affiliates&rdquo; on page 33 for more information about the performance of the Teucrium Funds. Aside
from establishing these series, operating those series, and obtaining capital from a small number of outside investors in order
to engage in these activities, the Sponsor has not engaged in any other business activity.&nbsp;&nbsp;Under the Trust Agreement,
the Sponsor is solely responsible for the management and conducts or directs the conduct of the business of the Trust, the Fund,
and any other series of the Trust that may from time to time be established and designated by the Sponsor.&nbsp;&nbsp;The Sponsor
is required to oversee the purchase and sale of Shares by Authorized Purchasers and to manage the Fund&rsquo;s investments, including
to evaluate the credit risk of FCM&rsquo;s and swap counterparties and to review daily positions and margin/collateral requirements.
The Sponsor has the power to enter into agreements as may be necessary or appropriate for the offer and sale of the Fund&rsquo;s
Shares and the conduct of the Trust&rsquo;s activities.&nbsp;&nbsp;Accordingly, the Sponsor is responsible for selecting the Trustee,
Administrator, Distributor, the independent registered public accounting firm of the Trust, and any legal counsel employed by the
Trust. The Sponsor is also responsible for preparing and filing periodic reports on behalf of the Trust with the SEC and will provide
any required certification for such reports.&nbsp;&nbsp;No person other than the Sponsor and its principals was involved in the
organization of the Trust or the Fund. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor may determine to engage marketing
agents who will assist the Sponsor in marketing the Shares.&nbsp;&nbsp;See &ldquo;Plan of Distribution&rdquo; for more information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor maintains a public website on behalf
of the Fund, <B><U>www.teucriumweatfund.com</U></B>, which contains information about the Trust, the Fund, and the Shares, and
oversees certain services for the benefit of Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor has discretion to appoint one or
more of its affiliates as additional Sponsors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Sponsor receives a fee as compensation
for services performed under the Trust Agreement.&nbsp;&nbsp;The Sponsor&rsquo;s fee accrues daily and is paid monthly at an annual
rate of 1.00% of the average daily net assets of the Fund.&nbsp;&nbsp;The Sponsor receives no compensation from the Fund other
than such fee.&nbsp;&nbsp;For the period from January 1, 2013 through December 31, 2013, the Fund paid approximately $66,302 in
management fees to the Sponsor. The Fund is also responsible for other ongoing fees, costs and expenses of its operations, including
brokerage fees, and legal, printing, accounting, custodial, administration and transfer agency costs, although the Sponsor bore
the costs and expenses related to the registration of the Shares. None of the costs and expenses related to the initial registration,
offer and sale of Shares, which totaled approximately $450,000, were or are chargeable to the Fund, and the Sponsor did not and
may not recover any of these costs and expenses from the Fund. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Shareholders have no right to elect the Sponsor
on an annual or any other continuing basis or to remove the Sponsor.&nbsp;&nbsp;If the Sponsor voluntarily withdraws, the holders
of a majority of the Trust&rsquo;s outstanding Shares (excluding for purposes of such determination Shares owned by the withdrawing
Sponsor and its affiliates) may elect its successor.&nbsp;&nbsp;Prior to withdrawing, the Sponsor must give ninety days&rsquo;
written notice to the Shareholders and the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Ownership or &ldquo;membership&rdquo; interests
in the Sponsor are owned by persons referred to as &ldquo;members.&rdquo;&nbsp;&nbsp;The Sponsor currently has three voting or
&ldquo;Class A&rdquo; members &ndash; Mr. Sal Gilbertie, Mr. Dale Riker and Mr. Carl N. Miller III &ndash; and a small number of
non-voting or &ldquo;Class B&rdquo; members who have provided working capital to the Sponsor.&nbsp;&nbsp;Messrs. Gilbertie and
Riker each currently own 45% of the Sponsor&rsquo;s Class A membership interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Management of the Sponsor</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-indent: 0.5in">In general, under the Sponsor&rsquo;s Amended
and Restated Limited Liability Company Operating Agreement, as amended from time to time, the Sponsor (and as a result the Trust
and the Fund) is managed by the officers of the Sponsor. The Chief Executive Officer of the Sponsor is responsible for the overall
strategic direction of the Sponsor and will have general control of its business. The Chief Investment Officer and President of
the Sponsor is primarily responsible for new investment product development with respect to the Fund and each of the Teucrium Funds.
The Chief Operating Officer has assumed primary responsibility for trade operations, trade execution, and portfolio activities
with respect to the Fund. The Chief Financial Officer, Chief Accounting Officer and Chief Compliance Officer acts as the Sponsor&rsquo;s
principal financial and accounting officer, which position includes the functions previously performed by the Treasurer of the
Sponsor, and administers the Sponsor&rsquo;s regulatory compliance programs. Furthermore, certain fundamental actions regarding
the Sponsor, such as the removal of officers, the addition or substitution of members, or the incurrence of liabilities other than
those incurred in the ordinary course of business and <I>de minimis</I> liabilities, may not be taken without the affirmative vote
of a majority of the Class A members (which is generally defined as the affirmative vote of Mr. Gilbertie and one of the other
two Class A members). The Sponsor has no board of directors, and the Trust has no board of directors or officers. The three Class
A members of the Sponsor are Sal Gilbertie, Dale Riker and Carl N. Miller III.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0">The Officers of the Sponsor, two of whom are also Class A members
of the Sponsor, are the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Sal Gilbertie</I></B> has been the
President of the Sponsor since its inception and its Chief Investment Officer since September 2011, was approved by the NFA as
a principal of the Sponsor on September 23, 2009, and was registered as an associated person of the Sponsor on November 10, 2009.
He maintains his main business office at 653A Garcia, Santa Fe, New Mexico 87505. Effective July 16, 2012, Mr. Gilbertie was registered
with the NFA as the Branch Manager for this location. From October 2005 until December 2009, Mr. Gilbertie was employed by Newedge
USA, LLC, an FCM and broker-dealer registered with the CFTC and the SEC (whose business is described in greater detail below under
&ldquo;The Service Providers&rdquo;), where he headed the Renewable Fuels/Energy Derivatives OTC Execution Desk and was an active
futures contract and over-the-counter derivatives trader and market maker in multiple classes of commodities. (Between January
2008 and October 2008, he also held a comparable position with Newedge Financial, Inc., an FCM and an affiliate of Newedge USA,
LLC.) From October 1998 until October 2005, <B> </B> Mr. Gilbertie was principal and co-founder of Cambial Asset Management, LLC,
an adviser to two private funds that focused on equity options, and Cambial </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0"> Financing Dynamics, a private boutique investment bank. While
at Cambial Asset Management, LLC and Cambial Financing Dynamics, Mr. Gilbertie served as principal and managed the day-to-day activities
of the business and the portfolio of both companies. Mr. Gilbertie is 54 years old. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in"><B><I> Dale Riker </I></B> has
been the Secretary of the Sponsor since January 2010, and its Chief Executive Officer since September 2011, was approved by the
NFA as a principal of the Sponsor on October 29, 2009, and was registered as an associated person of the Sponsor on February 17,
2010. He maintains his main business office at 232 Hidden Lake Road, Brattleboro, Vermont 05301 and is responsible for the overall
strategic direction of the Sponsor and has general control of its business. Mr. Riker was Treasurer of the Sponsor from its inception
until September 2011. From February 2005 to the present, Mr. Riker has been President of Cambial Emerging Markets LLC, a consulting
company specializing in emerging market equity investment. As President of Cambial Emerging Markets LLC, Mr. Riker had responsibility
for business strategy, planning and operations. From July 1996 to February 2005, Mr. Riker was a private investor. Mr. Riker is
married to the Chief Financial Officer, Chief Accounting Officer and Chief Compliance Officer of the Sponsor, Barbara Riker. Mr.
Riker is 56 years old. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-indent: 0.5in"><B><I> Barbara Riker </I></B>
began working for the Sponsor in July 2010 providing accounting and compliance support. She has been the Chief Financial
Officer, Chief Accounting Officer and Chief Compliance Officer for Teucrium since September 2011, was approved by the NFA as
a principal of the Sponsor on October 19, 2011, and has a background in finance, accounting, investor relations, corporate
communications and operations. She maintains her main business office at 232 Hidden Lake Road, Brattleboro, Vermont 05301.
From September 1980 to February 1993, Ms. Riker worked in various financial capacities for Pacific Telesis Group, the
California-based Regional Bell Operating Company, and its predecessors. In February 1993, with the spin-off of AirTouch
Communications from Pacific Telesis Group, Ms. Riker was selected to lead the Investor Relations team for the global mobile
phone operator. In her capacity as Executive Director &ndash; Investor Relations and Corporate Communications from February
1993 to June 1995, AirTouch completed its initial public offering and was launched as an independent publicly-traded company.
In June 1995, she was named Chief Financial Officer of AirTouch International and, in addition to her other duties, served on
the board of several of the firm&rsquo;s joint ventures, both private and public, across Europe. In June 1997, Ms. Riker
moved into an operations capacity as the District General Manager for AirTouch Paging&rsquo;s San Francisco operations. In
February 1998 she was named Vice President and General Manager of AirTouch Cellular for Arizona and New Mexico. Ms. Riker
retired in July 1999, coincident with the purchase of AirTouch by Vodafone PLC and remained retired until she began working
for the Sponsor. Ms. Riker graduated with a Bachelor of Science in Business Administration from Cal State &ndash; East Bay in
1980. Ms. Riker is married to the Chief Executive Officer of the Sponsor, Dale Riker. Ms. Riker is 56 years old. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I> Steve Kahler </I></B> , Chief
Operating Officer, began working for the Sponsor in November 2011 as Managing Director in the trading division. He became the Chief
Operating Officer on May 24, 2012 and has primary responsibility for the Trade Operations for the Funds. He maintains his main
business office at 13520 Excelsior Blvd., Minnetonka, MN 55345. Mr. Kahler was registered as an Associated Person of the Sponsor
on November 25, 2011, approved as a Branch Manager of the Sponsor on March 16, 2012 and approved by the NFA as a Principal of the
Sponsor on May 16, 2012. Prior to his employment with the Sponsor, Mr. Kahler worked for Cargill Inc., an international producer
and marketer of food, agricultural, financial and industrial products and services, from April 2006 until November 2011 in the
Energy Division as Senior Petroleum Trader. In October 2006 and while employed at Cargill Inc., Mr. Kahler was approved as an Associated
Person of Cargill Commodity Services Inc., a commodity trading affiliate of Cargill Inc. from September 13, 2006 to November 9,
2011. Mr. Kahler graduated from the University of Minnesota with a Bachelors of Agricultural Business Administration in 1992 and
is 46 years old. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-indent: 0.5in">The third Class-A member of the Sponsor
is the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-indent: 0.5in"><B><I>Carl N. (Chuck) Miller
III</I></B> was approved by the NFA as a principal of the Sponsor on November 10, 2009 and was registered as an associated
person of the Sponsor on April 19, 2010. He maintains his main business office at 653A Garcia, Santa Fe, New Mexico 87505.
Mr. Miller has certain voting authority as a Class A member of the Sponsor as described above, but is not involved with the
Sponsor&rsquo;s day-to-day trading or operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-indent: 0.5in">Mr. Kahler is primarily responsible for
making trading and investment decisions for the Fund and other Teucrium Funds, and for directing Fund and other Teucrium Fund trades
for execution.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Messrs. Gilbertie, Riker, Kahler and Miller
and Ms. Riker are individual &ldquo;principals,&rdquo; as that term is defined in CFTC Rule 3.1, of the Sponsor. These individuals
are principals due to their positions and/or due to their ownership interests in the Sponsor. Beneficial ownership interests of
the principals, if any, are shown under the section entitled &ldquo;Security Ownership of Principal Shareholders and Management&rdquo;
below and any of the principals may acquire beneficial interests in the Fund in the future. In addition, each of the three Class
A members of the Sponsor are registered with the CFTC as associated persons of the Sponsor and are NFA associate members. GFI Group
LLC is a principal for the Sponsor under CFTC Rules due to its ownership of certain non-voting securities of the Sponsor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-underline-style: double"><B><I>Market
Price of Shares</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; "><FONT STYLE="text-underline-style: double">The
Fund&rsquo;s Shares have traded on the NYSE Arca under the symbol &ldquo;WEAT&rdquo; since September 19, 2011. The following table
sets forth the range of reported high and low sales prices of the Shares as reported on NYSE Arca for the periods indicated below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; "><FONT STYLE="text-underline-style: double">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Fiscal&nbsp;Year&nbsp;Ended&nbsp;December&nbsp;31,&nbsp;2013</B> :</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; padding-right: 1.8pt"><FONT STYLE="font-size: 10pt"><B>High</B></FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; padding-right: 1.8pt"><FONT STYLE="font-size: 10pt"><B>Low</B></FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Quarter Ended</B></FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="width: 62%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">March 31, 2013</FONT> </TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 13%; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">21.49</FONT> </TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 13%; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">18.29</FONT> </TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">June 30, 2013</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">19.47</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">17.05</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">September 30, 2013</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">17.74</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">16.10</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">December 31, 2013</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">17.68</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">14.70</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; "><FONT STYLE="text-underline-style: double"> &nbsp; </FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Fiscal&nbsp;Year&nbsp;Ended&nbsp;December&nbsp;31,&nbsp;2012</B> :</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; padding-right: 1.8pt"><FONT STYLE="font-size: 10pt"><B>High</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; padding-right: 1.8pt"><FONT STYLE="font-size: 10pt"><B>Low</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Quarter Ended</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="width: 62%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">March 31, 2012</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 13%; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">22.46</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 13%; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">20.05</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">June 30, 2012</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">22.08</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">18.60</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">September 30, 2012</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">25.35</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">22.40</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">December 31, 2012</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">25.05</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">21.07</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> As of December 31, 2013, the Fund had approximately
1,000 Shareholders. </P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Prior Performance of the Sponsor and Affiliates</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THIS POOL OPERATOR AND ITS TRADING PRINCIPALS
HAVE LIMITED EXPERIENCE OPERATING ANY OTHER POOLS OR TRADING ANY OTHER ACCOUNTS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor and its trading principals have
limited experience operating commodity pools.&nbsp;&nbsp;Although the Sponsor currently operates seven commodity pools, the Teucrium
Funds, none of the Teucrium Funds began operating prior to 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PERFORMANCE DATA FOR THE FUND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE
OF FUTURE RESULTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Teucrium Wheat Fund commenced trading and
investment operations on September 19, 2011. The Teucrium Wheat Fund is listed on NYSE Arca and is neither: (i) a privately offered
pool pursuant to Section 4(2) of the Securities Act of 1933, as amended; (ii) a multi-advisor pool as defined in CFTC Regulation
4.10(d)(2); or (iii) a principal-protected pool as defined in CFTC Regulation 4.10(d)(3).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom; width: 74%; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Units of beneficial interest issued (from inception until January 31, 2014)</FONT> </TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 21%; text-align: right"><FONT STYLE="font-size: 10pt">850,004</FONT> </TD>
    <TD STYLE="vertical-align: top; width: 3%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Aggregate gross sale price for units issued</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">17,139,561</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">NAV per share as of&nbsp;&nbsp;January 31, 2014</FONT> </TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">13.44</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Pool NAV as of&nbsp;&nbsp;January 31, 2014</FONT> </TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">7,390,528</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>

<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom; width: 69%"><FONT STYLE="font-size: 10pt">Worst monthly percentage draw-down*</FONT></TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 19%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">(10.20</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">September 2011</P></TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 2%"><FONT STYLE="font-size: 10pt">)%&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Worst peak-to-valley draw-down**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">(46.24</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">September 19,<BR>
        2011 (Inception) <BR>
&ndash; January 2014</P></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">)%</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">*&nbsp;A draw-down is a loss experienced by
the fund over a specified period.&nbsp;&nbsp;Draw-downs are measured on the basis of monthly returns only and do not reflect intra-month
figures.&nbsp;&nbsp;The worst monthly percentage draw-down reflects the largest single month loss sustained since inception of
investment operations.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">** The worst peak-to-valley draw-down is the
largest percentage decline in the NAV per unit over the history of the fund.&nbsp;&nbsp;This need not be a continuous decline,
but can be a series of positive and negative returns. Worst peak-to-valley draw-down represents the greatest percentage decline
from any month-end NAV per unit that occurs without such month-end NAV per unit being equaled or exceeded as of a subsequent month-end.&nbsp;&nbsp;For
example, if the NAV per unit declined by $1 in each of January and February, increased by $1 in March and declined again by $2
in April, a &ldquo;peak-to-valley drawdown&rdquo; analysis conducted as of the end of April would consider that &ldquo;drawdown&rdquo;
to be continuing and to be $3 in amount, whereas if the NAV per unit had increased by $2 in March, the drawdown would have ended
as of the end of February at the $2 level.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 6.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="border-bottom: Black 1pt solid; padding-right: 6.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Rates of Return*</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Month</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;2011</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2012</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2013</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2014</B></FONT> </TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">January</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(0.31)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(0.71)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;(9.43) %</FONT> </TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">February</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">(2.38)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(9.67)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">March</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(1.56)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(3.41)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">April</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(4.11)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">5.38</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">May</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(3.07)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(3.45)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">June</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">10.90</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(8.38)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">July</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">10.78</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(0.41)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">August</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(0.12)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(3.45)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">September</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(10.20)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%**</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">0.49</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">1.45</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">October</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">3.30</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(2.20)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(0.48)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">November</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(8.50)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(1.92)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(2.22)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">December</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">5.37</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(9.77)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(8.90)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Annual Rate of Return</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(10.56)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%***</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(4.96)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(30.16)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9.43) %***</FONT> </TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 26%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 15%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 0%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 0.25in; text-indent: -9pt">*&nbsp;The monthly rate of return
is calculated by dividing the ending NAV for a given month by the ending NAV for the previous month, subtracting 1 and multiplying
this number by 100 to arrive at a percentage increase or decrease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 9.35pt">** Partial month from September 19, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 9pt">*** Not annualized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B> PERFORMANCE DATA FOR TEUCRIUM CORN FUND </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>PAST PERFORMANCE IS NOT
NECESSARILY INDICATIVE OF FUTURE RESULTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Teucrium Corn Fund commenced trading and
investment operations on June 9, 2010.&nbsp;&nbsp;The Teucrium Corn Fund is listed on NYSE Arca and is neither: (i) a privately
offered pool pursuant to Section 4(2) of the Securities Act of 1933, as amended; (ii) a multi-advisor pool as defined in CFTC Regulation
4.10(d)(2); or (iii) a principal-protected pool as defined in CFTC Regulation 4.10(d)(3).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="width: 74%"><FONT STYLE="font-size: 10pt">Units of beneficial interest issued (from inception until January 31, 2014)</FONT> </TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 21%; text-align: right"><FONT STYLE="font-size: 10pt">6,175,004</FONT> </TD>
    <TD STYLE="width: 3%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">Aggregate gross sale price for units issued</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">246,598,688</FONT> </TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD><FONT STYLE="font-size: 10pt">NAV per share as of&nbsp;&nbsp;January 31, 2014</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">30.84</FONT> </TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">Pool NAV as of&nbsp;&nbsp;January 31, 2014</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">48,569,558</FONT> </TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD><FONT STYLE="font-size: 10pt">Worst monthly percentage draw-down*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">(19.91)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">September 2011</P></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>

<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 69%"><FONT STYLE="font-size: 10pt">Worst peak-to-valley draw-down**</FONT></TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 19%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">(39.87)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">August 2012 &ndash;<BR>
        December 2013</P></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">%&nbsp;</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">*&nbsp;A draw-down is a loss experienced by
the fund over a specified period.&nbsp; Draw-downs are measured on the basis of monthly returns only and do not reflect intra-month
figures.&nbsp; The worst monthly percentage draw-down reflects the largest single month loss sustained since inception of investment
operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">** The worst peak-to-valley draw-down is the
largest percentage decline in the NAV per unit over the history of the fund.&nbsp; This need not be a continuous decline, but can
be a series of positive and negative returns. Worst peak-to-valley draw-down represents the greatest percentage decline from any
month-end NAV per unit that occurs without such month-end NAV per unit being equaled or exceeded as of a subsequent month-end.&nbsp;
For example, if the NAV per unit declined by $1 in each of January and February, increased by $1 in March and declined again by
$2 in April, a &ldquo;peak-to-valley drawdown&rdquo; analysis conducted as of the end of April would consider that &ldquo;drawdown&rdquo;
to be continuing and to be $3 in amount, whereas if the NAV per unit had increased by $2 in March, the drawdown would have ended
as of the end of February at the $2 level.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="border-bottom: Black 1pt solid; padding-right: 6.8pt; font-size: 9pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Rates of Return*</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 6.8pt; font-size: 9pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt"><B>Month</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 2.8pt; font-size: 9pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>2010</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0.8pt; font-size: 9pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>&nbsp;2011</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.8pt; font-size: 9pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>2012</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.8pt; font-size: 9pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>2013</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 2.8pt; font-size: 9pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>2014</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 26%; padding-left: 10pt; font-size: 9pt; text-indent: -10pt"><FONT STYLE="font-size: 9pt">January</FONT></TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; padding-right: 0.8pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 5%; border-top: Black 1pt solid; padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">5.07</FONT></TD>
    <TD STYLE="width: 5%; padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="width: 8%; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(2.48)</FONT></TD>
    <TD STYLE="width: 4%; padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="width: 8%; padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">2.48</FONT></TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="width: 15%; padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.65 %&nbsp;&nbsp;&nbsp;&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; font-size: 9pt; text-indent: -10pt"><FONT STYLE="font-size: 9pt">February</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">6.51</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">0.76</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(6.29)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; font-size: 9pt; text-indent: -10pt"><FONT STYLE="font-size: 9pt">March</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">1.26</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(4.90)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(3.71)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; font-size: 9pt; text-indent: -10pt"><FONT STYLE="font-size: 9pt">April</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">4.36</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(0.84)</FONT></TD>
    <TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">1.17</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; font-size: 9pt; text-indent: -10pt"><FONT STYLE="font-size: 9pt">May</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(1.97)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(6.41)</FONT></TD>
    <TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">2.51</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; font-size: 9pt; text-indent: -10pt"><FONT STYLE="font-size: 9pt">June</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">3.56</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;%**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(10.80)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">15.60</FONT></TD>
    <TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(8.98)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; font-size: 9pt; text-indent: -10pt"><FONT STYLE="font-size: 9pt">July</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">7.38</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">11.31</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">21.06</FONT></TD>
    <TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(6.30)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; font-size: 9pt; text-indent: -10pt"><FONT STYLE="font-size: 9pt">August</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">5.54</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">11.39</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">0.14</FONT></TD>
    <TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">0.50</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; font-size: 9pt; text-indent: -10pt"><FONT STYLE="font-size: 9pt">September</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">10.74</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(19.91)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(4.99)</FONT></TD>
    <TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(8.21)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; font-size: 9pt; text-indent: -10pt"><FONT STYLE="font-size: 9pt">October</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">15.14</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">7.90</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(0.43)</FONT></TD>
    <TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(3.53)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; font-size: 9pt; text-indent: -10pt"><FONT STYLE="font-size: 9pt">November</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(8.23)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(8.46)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(0.83)</FONT></TD>
    <TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(3.85)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; font-size: 9pt; text-indent: -10pt"><FONT STYLE="font-size: 9pt">December</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">13.78</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">5.81</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(7.22)</FONT></TD>
    <TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="font-size: 9pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(1.25)</FONT> </TD>
    <TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT> </TD>
    <TD STYLE="font-size: 9pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; font-size: 9pt; text-indent: -10pt"><FONT STYLE="font-size: 9pt">Annual Rate of Return</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">56.24</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%***&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">7.32</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">%&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 9pt">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">5.77</FONT></TD>
    <TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">%</FONT></TD>
    <TD STYLE="font-size: 9pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: right"><FONT STYLE="font-size: 9pt">(30.90)</FONT> </TD>
    <TD STYLE="font-size: 12pt"><FONT STYLE="font-size: 9pt">%</FONT> </TD>
    <TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.65 %***</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 12pt">*The monthly rate of return is calculated by dividing the
ending NAV for a given month by the ending NAV for the previous month, subtracting 1 and multiplying this number by 100 to arrive
at a percentage increase or decrease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">**Partial from June 9, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">***Not annualized.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">There are significant differences between the Fund and the Teucrium
Corn Fund. Most significantly, the Fund and the Teucrium Corn Fund invest primarily in interests in different commodities, the
prices of which will not move exactly in tandem. Past performance is not necessarily indicative of future results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>PERFORMANCE DATA FOR
TEUCRIUM WTI CRUDE OIL FUND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>PAST PERFORMANCE IS NOT
NECESSARILY INDICATIVE OF FUTURE RESULTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Teucrium WTI Crude Oil Fund commenced trading
and investment operations on February 23, 2011. The Teucrium WTI Crude Oil Fund is listed on NYSE Arca and is neither: (i) a privately
offered pool pursuant to Section 4(2) of the Securities Act of 1933, as amended; (ii) a multi-advisor pool as defined in CFTC Regulation
4.10(d)(2); or (iii) a principal-protected pool as defined in CFTC Regulation 4.10(d)(3).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom; width: 74%; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Units of beneficial interest issued (from inception until January 31, 2014)</FONT> </TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 21%; text-align: right"><FONT STYLE="font-size: 10pt">125,002</FONT></TD>
    <TD STYLE="vertical-align: top; width: 3%">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Aggregate gross sale price for units issued</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">$&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">6,077,199</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">NAV per share as of&nbsp;&nbsp;January 31, 2014</FONT> </TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">$&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">39.69</FONT> </TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Pool NAV as of&nbsp;&nbsp;January 31, 2014</FONT> </TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">$&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">1,984,824</FONT> </TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>

<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: top; width: 69%"><FONT STYLE="font-size: 10pt">Worst monthly percentage draw-down*</FONT></TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 19%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">(16.00)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">May 2012</P></TD>
    <TD STYLE="vertical-align: top; width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;%</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Worst peak-to-valley draw-down**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">(31.97)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">April 2011<BR>
        &ndash; October 2012</P></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;%</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">*&nbsp;&nbsp;A draw-down is a loss experienced
by the fund over a specified period.&nbsp;&nbsp;Draw-downs are measured on the basis of monthly returns only and do not reflect
intra-month figures.&nbsp;&nbsp;The worst monthly percentage draw-down reflects the largest single month loss sustained since inception
of investment operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">** The worst peak-to-valley draw-down is the
largest percentage decline in the NAV per unit over the history of the fund.&nbsp;&nbsp;This need not be a continuous decline,
but can be a series of positive and negative returns. Worst peak-to-valley draw-down represents the greatest percentage decline
from any month-end NAV per unit that occurs without such month-end NAV per unit being equaled or exceeded as of a subsequent month-end.&nbsp;&nbsp;For
example, if the NAV per unit declined by $1 in each of January and February, increased by $1 in March and declined again by $2
in April, a &ldquo;peak-to-valley drawdown&rdquo; analysis conducted as of the end of April would consider that &ldquo;drawdown&rdquo;
to be continuing and to be $3 in amount, whereas if the NAV per unit had increased by $2 in March, the drawdown would have ended
as of the end of February at the $2 level.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 6.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; padding-right: 6.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Rates of Return*</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Month</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;2011</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2012</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2013</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2014</B></FONT> </TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">January</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; background-color: white; padding-right: 0.8pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">1.19</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">3.46</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right">(3.15) %</TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">February</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">1.00</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%**&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">6.51</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">(4.85)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">March</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">5.68</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(3.09)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">3.44</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">April</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">5.25</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">(0.00)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">(4.16)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">May</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(8.33)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(16.00)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(1.08)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">June</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(5.90)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">(1.10)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">1.84</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">July</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(1.05)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">1.37</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">6.12</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">August</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(9.20)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">7.60</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">2.21</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">September</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(11.85)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(4.14)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(2.19)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">October</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">11.86</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">(5.26)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">(2.09)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">November</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">4.66</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">2.64</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(1.25)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">December</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(1.05)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">1.66</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">1.91</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Annual Rate of Return</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(11.10)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%***&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(10.30)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">2.78</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(3.15) %</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white">***</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 4.5pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -9pt">*The monthly rate of return is calculated
by dividing the ending NAV for a given month by the ending NAV for the previous month, subtracting 1 and multiplying this number
by 100 to arrive at a percentage increase or decrease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 9.35pt">**Partial from February 23, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 9.35pt">***Not annualized.&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 12pt">There are significant differences between the Fund and
the Teucrium WTI Crude Oil Fund. Most significantly, the Fund and the Teucrium WTI Crude Oil Fund invest primarily in interests
in different commodities, the prices of which will not move exactly in tandem. Past performance is not necessarily indicative of
future results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>PERFORMANCE DATA FOR
TEUCRIUM NATURAL GAS FUND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>PAST PERFORMANCE IS NOT
NECESSARILY INDICATIVE OF FUTURE RESULTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Teucrium Natural Gas Fund commenced trading
and investment operations on February 1, 2011. The Teucrium Natural Gas Fund is listed on NYSE Arca and is neither: (i) a privately
offered pool pursuant to Section 4(2) of the Securities Act of 1933, as amended; (ii) a multi-advisor pool as defined in CFTC Regulation
4.10(d)(2); or (iii) a principal-protected pool as defined in CFTC Regulation 4.10(d)(3).</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom; width: 82%; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Units of beneficial interest issued (from inception until January 31, 2014)</FONT> </TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; text-align: right"><FONT STYLE="font-size: 10pt">500,004</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Aggregate gross sale price for units issued</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">8,737,593</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">NAV per share as of&nbsp;&nbsp;January 31, 2014</FONT> </TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">13.26</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Pool NAV as of&nbsp;&nbsp;January 31, 2014</FONT> </TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">1,988,824</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Worst monthly percentage draw-down*</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">(14.69)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">November 2011</P></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">%&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Worst peak-to-valley draw-down**</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">(57.80)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">February 1,<BR>
        2011 (Inception)<BR>
        &ndash; October 2013</P></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">*&nbsp;A draw-down is a loss experienced by
the fund over a specified period.&nbsp;&nbsp;Draw-downs are measured on the basis of monthly returns only and do not reflect intra-month
figures.&nbsp;&nbsp;The worst monthly percentage draw-down reflects the largest single month loss sustained since inception of
investment operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">** The worst peak-to-valley draw-down is the
largest percentage decline in the NAV per unit over the history of the fund.&nbsp;&nbsp;This need not be a continuous decline,
but can be a series of positive and negative returns. Worst peak-to-valley draw-down represents the greatest percentage decline
from any month-end NAV per unit that occurs without such month-end NAV per unit being equaled or exceeded as of a subsequent month-end.&nbsp;&nbsp;For
example, if the NAV per unit declined by $1 in each of January and February, increased by $1 in March and declined again by $2
in April, a &ldquo;peak-to-valley drawdown&rdquo; analysis conducted as of the end of April would consider that &ldquo;drawdown&rdquo;
to be continuing and to be $3 in amount, whereas if the NAV per unit had increased by $2 in March, the drawdown would have ended
as of the end of February at the $2 level.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 6.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="border-bottom: Black 1pt solid; padding-right: 6.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Rates of Return*</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Month</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;2011</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2012</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2013</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2014</B></FONT> </TD>
    <TD STYLE="font-size: 12pt; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">January</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; background-color: white; padding-right: 0.8pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(12.53)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(0.52)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right">12.18 %&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">February</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(7.08)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">(0.08)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">1.39</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">March</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">3.49</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(8.70)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">8.06</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">April</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">1.91</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">0.45</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">5.95</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">May</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(3.22)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(0.18)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(7.72)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">June</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(7.68)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">7.06</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">(9.33)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">July</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(7.22)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">7.61</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(1.97)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">August</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(2.17)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">(10.68)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">2.56</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">September</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(8.35)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">10.73</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(2.67)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">October</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">3.51</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">1.27</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">(3.48)</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">November</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(14.69)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(5.25)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">6.64</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">December</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(14.12)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">(4.30)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC; text-align: right"><FONT STYLE="font-size: 10pt">5.07</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: #CCFFCC">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Annual Rate of Return</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(44.76)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%&nbsp;&nbsp;**&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">(16.29)</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">2.25</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">12.18 %***</FONT> </TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 0%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">*&nbsp;The monthly rate of return is calculated by dividing
the ending NAV for a given month by the ending NAV for the previous month, subtracting 1 and multiplying this number by 100 to
arrive at a percentage increase or decrease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in">**&nbsp;Not annualized.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">There are significant differences between the Fund and the
Teucrium Natural Gas Fund. Most significantly, the Fund and the Teucrium Natural Gas Fund invest primarily in interests in different
commodities, the prices of which will not move exactly in tandem. Past performance is not necessarily indicative of future results.</P>








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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>PERFORMANCE DATA FOR
THE TEUCRIUM SUGAR FUND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>PAST PERFORMANCE IS NOT
NECESSARILY INDICATIVE OF FUTURE RESULTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Teucrium Sugar Fund commenced trading and
investment operations on September 19, 2011. The Fund is listed on NYSE Arca and is neither: (i) a privately offered pool pursuant
to Section 4(2) of the Securities Act of 1933, as amended; (ii) a multi-advisor pool as defined in CFTC Regulation 4.10(d)(2);
or (iii) a principal-protected pool as defined in CFTC Regulation 4.10(d)(3).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>





<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom; width: 74%; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Units of beneficial interest issued (from inception until January 31, 2014)</FONT> </TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 21%; text-align: right"><FONT STYLE="font-size: 10pt">400,004</FONT> </TD>
    <TD STYLE="vertical-align: top; width: 3%">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Aggregate gross sale price for units issued</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">8,609,408</FONT> </TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">NAV per share as of&nbsp;&nbsp;January 31, 2014</FONT> </TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">13.54</FONT> </TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Pool NAV as of&nbsp;&nbsp;January 31, 2014</FONT> </TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">2,368,851</FONT> </TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Worst monthly percentage draw-down*</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">(11.06)</FONT><BR>
<FONT STYLE="font-size: 10pt">April 2012 </FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">%&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Worst peak-to-valley draw-down**</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">(45.84)</FONT><BR>
<FONT STYLE="font-size: 10pt">September 19,</FONT><BR>
<FONT STYLE="font-size: 10pt">2011 (Inception)</FONT><BR>
<FONT STYLE="font-size: 10pt">- January 2014&nbsp;</FONT> </TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">* A draw-down is a loss experienced by the fund
over a specified period. Draw-downs are measured on the basis of monthly returns only and do not reflect intra-month figures. The
worst monthly percentage draw-down reflects the largest single month loss sustained since inception of investment operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">** The worst peak-to-valley draw-down is the
largest percentage decline in the NAV per unit over the history of the fund. This need not be a continuous decline, but can be
a series of positive and negative returns. Worst peak-to-valley draw-down represents the greatest percentage decline from any month-end
NAV per unit that occurs without such month-end NAV per unit being equaled or exceeded as of a subsequent month-end. For example,
if the NAV per unit declined by $1 in each of January and February, increased by $1 in March and declined again by $2 in April,
a &ldquo;peak-to-valley drawdown&rdquo; analysis conducted as of the end of April would consider that &ldquo;drawdown&rdquo; to
be continuing and to be $3 in amount, whereas if the NAV per unit had increased by $2 in March, the drawdown would have ended as
of the end of February at the $2 level.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>




<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Rates of Return*</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Month</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;2011</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2012</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2013</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2014</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 31%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">January</FONT></TD>
    <TD STYLE="width: 4%; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; padding-right: 0.8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">0.00</FONT></TD>
    <TD STYLE="width: 5%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(2.81)</FONT></TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="width: 15%; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;(3.97) %&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">February</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">6.07</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;(3.00) </FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">March</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(2.82)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;(3.99) </FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">April</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(11.06)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;(0.93)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">May</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(8.70)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;(5.64) </FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">June</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">0.00</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;(1.00)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">July</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">5.39</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;(2.21) </FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">August</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(8.51)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;(2.74)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">September</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(3.32)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(0.27)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;7.19</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">October</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">3.19</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(5.66)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;0.33</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">November</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(5.89)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">0.29</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;(4.33)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">December</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(1.75)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">1.42</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;(3.42)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Annual Rate of Return</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(7.76)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%***</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(22.77)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(20.83)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;(3.97) %***</FONT> </TD></TR>
</TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 4.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 9pt">*The monthly rate of return is calculated by dividing the
ending NAV for a given month by the ending NAV for the previous month, subtracting 1 and multiplying this number by 100 to arrive
at a percentage increase or decrease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 9.35pt">**Partial month from September 19, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 9.35pt">***Not annualized.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">There are significant differences between the Fund and the Teucrium
Sugar Fund. Most significantly, the Fund and the Teucrium Sugar Fund invest primarily in interests in different commodities, the
prices of which will not move exactly in tandem. Past performance is not necessarily indicative of future results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>PERFORMANCE DATA FOR
TEUCRIUM SOYBEAN FUND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>PAST PERFORMANCE IS NOT
NECESSARILY INDICATIVE OF FUTURE RESULTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Teucrium Soybean Fund commenced trading
and investment operations on September 19, 2011. The Teucrium Soybean Fund is listed on NYSE Arca and is neither: (i) a privately
offered pool pursuant to Section 4(2) of the Securities Act of 1933, as amended; (ii) a multi-advisor pool as defined in CFTC Regulation
4.10(d)(2); or (iii) a principal-protected pool as defined in CFTC Regulation 4.10(d)(3).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom; width: 74%; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Units of beneficial interest issued (from inception until January 31, 2014)</FONT> </TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 21%; text-align: right"><FONT STYLE="font-size: 10pt">850,004</FONT> </TD>
    <TD STYLE="vertical-align: top; width: 3%">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Aggregate gross sale price for units issued</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">21,186,251</FONT> </TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">NAV per share as of&nbsp;&nbsp;January 31, 2014</FONT> </TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">22.51</FONT> </TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Pool NAV as of&nbsp;&nbsp;January 31, 2014</FONT> </TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">3,377,239</FONT> </TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Worst monthly percentage draw-down*</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">(12.36)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">September 2011</P></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">%&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Worst peak-to-valley draw-down**</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">(20.88)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">August 2012 &ndash; <BR>
January 2014</P></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">*&nbsp;A draw-down is a loss experienced by
the fund over a specified period.&nbsp;&nbsp;Draw-downs are measured on the basis of monthly returns only and do not reflect intra-month
figures.&nbsp;&nbsp;The worst monthly percentage draw-down reflects the largest single month loss sustained since inception of
investment operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">** The worst peak-to-valley draw-down is the
largest percentage decline in the NAV per unit over the history of the fund.&nbsp;&nbsp;This need not be a continuous decline,
but can be a series of positive and negative returns. Worst peak-to-valley draw-down represents the greatest percentage decline
from any month-end NAV per unit that occurs without such month-end NAV per unit being equaled or exceeded as of a subsequent month-end.&nbsp;&nbsp;For
example, if the NAV per unit declined by $1 in each of January and February, increased by $1 in March and declined again by $2
in April, a &ldquo;peak-to-valley drawdown&rdquo; analysis conducted as of the end of April would consider that &ldquo;drawdown&rdquo;
to be continuing and to be $3 in amount, whereas if the NAV per unit had increased by $2 in March, the drawdown would have ended
as of the end of February at the $2 level.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 6.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Rates of Return*</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 6.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 12pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Month</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;2011</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2012</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2013</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2014</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">January</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 0.8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(1.51)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2.98</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;(1.92) %&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">February</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">7.48</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(2.70)</FONT> </TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">March</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3.98</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(2.19)</FONT> </TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">April</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">2.08</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(1.01)</FONT> </TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">May</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(9.08)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">6.15</FONT> </TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">June</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">9.27</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(4.55)</FONT> </TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">July</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">9.71</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(4.09)</FONT> </TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">August</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">6.28</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">7.96</FONT> </TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">September</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(12.36)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(6.57)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(5.33)</FONT> </TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">October</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">2.42</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(2.33)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(1.55)</FONT> </TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">November</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(7.13)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(5.62)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2.45</FONT> </TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">December</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">4.89</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(1.51)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(2.13)</FONT> </TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Annual Rate of Return</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(12.56)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%***</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">10.38</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(4.89)</FONT> </TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.92) % ***</FONT> </TD></TR>
<TR>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">*&nbsp;The monthly rate of return is calculated by dividing
the ending NAV for a given month by the ending NAV for the previous month, subtracting 1 and multiplying this number by 100 to
arrive at a percentage increase or decrease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in">**&nbsp; Partial month from September
19, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in">*** Not annualized.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">There are significant differences between the Fund and the Teucrium
Soybean Fund. Most significantly, the Fund and the Teucrium Soybean Fund invest primarily in interests in different commodities,
the prices of which will not move exactly in tandem. Past performance is not necessarily indicative of future results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PERFORMANCE DATA FOR TEUCRIUM AGRICULTURAL
FUND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE
OF FUTURE RESULTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Teucrium Agricultural Fund commenced trading
and investment operations on March 28, 2012. The Teucrium Agricultural Fund is listed on NYSE Arca and is neither: (i) a privately
offered pool pursuant to Section 4(2) of the Securities Act of 1933, as amended; (ii) a multi-advisor pool as defined in CFTC Regulation
4.10(d)(2); or (iii) a principal-protected pool as defined in CFTC Regulation 4.10(d)(3).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom; width: 74%; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Units of beneficial interest issued (from inception until January 31, 2014)</FONT> </TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 21%; text-align: right"><FONT STYLE="font-size: 10pt">350,002</FONT></TD>
    <TD STYLE="vertical-align: top; width: 3%">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Aggregate gross sale price for units issued</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">17,706,678</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">NAV per share as of&nbsp;&nbsp;January 31, 2014</FONT> </TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">36.52</FONT> </TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Pool NAV as of&nbsp;&nbsp;January 31, 2014</FONT> </TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">1,826,120</FONT> </TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Worst monthly percentage draw-down*</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in">(6.75)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in">May 2012</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Worst peak-to-valley draw-down**</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">(33.98)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">July 2012 &ndash; <BR>
January 2014</P></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">*&nbsp;A draw-down is a loss experienced by
the fund over a specified period.&nbsp;&nbsp;Draw-downs are measured on the basis of monthly returns only and do not reflect intra-month
figures.&nbsp;&nbsp;The worst monthly percentage draw-down reflects the largest single month loss sustained since inception of
investment operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">** The worst peak-to-valley draw-down is the
largest percentage decline in the NAV per unit over the history of the fund.&nbsp;&nbsp;This need not be a continuous decline,
but can be a series of positive and negative returns. Worst peak-to-valley draw-down represents the greatest percentage decline
from any month-end NAV per unit that occurs without such month-end NAV per unit being equaled or exceeded as of a subsequent month-end.&nbsp;&nbsp;For
example, if the NAV per unit declined by $1 in each of January and February, increased by $1 in March and declined again by $2
in April, a &ldquo;peak-to-valley drawdown&rdquo; analysis conducted as of the end of April would consider that &ldquo;drawdown&rdquo;
to be continuing and to be $3 in amount, whereas if the NAV per unit had increased by $2 in March, the drawdown would have ended
as of the end of February at the $2 level.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Rates of Return*</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Month</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2012</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2013</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 2.8pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2014</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 35%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">January</FONT></TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">0.49</FONT></TD>
    <TD STYLE="width: 7%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="width: 21%; padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(3.72) %&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">February</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(5.43)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">March</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1.36</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%**</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(3.37)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">April</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(3.59)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">1.12</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">May</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(6.75)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(0.20)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">June</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">8.85</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(5.76)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">July</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">11.55</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(3.24)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">August</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(0.70)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">0.51</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">September</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(2.80)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(1.30)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">October</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(2.66)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(1.35)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">November</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(2.00)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(2.01)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">December</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(4.32)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(3.95)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Annual Rate of Return</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(2.54)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%***</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">(22.16)</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD STYLE="padding-right: 0.8pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;(3.72) %***</FONT> </TD></TR>

</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 13.5pt; text-indent: -13.5pt">&nbsp;* The monthly rate of return
is calculated by dividing the ending NAV for a given month by the ending NAV for the previous month, subtracting 1 and multiplying
this number by 100 to arrive at a percentage increase or decrease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 4.5pt">** Partial month from March 28, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 4.5pt">*** Not annualized.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"> There are significant differences between the Fund and
the Teucrium Agricultural Fund. Most significantly, the Teucrium Agricultural Fund primarily invests in shares of the Teucrium
Corn Fund, the Teucrium Sugar Fund, the Teucrium Soybean Fund and the Teucrium Wheat Fund, whereas the Fund directly invests in
commodity interests. Past performance is not necessarily indicative of future results. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_026"></A>The Trustee</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The sole Trustee of the Trust is Wilmington
Trust Company, a Delaware banking corporation.&nbsp;&nbsp;The Trustee&rsquo;s principal offices are located at 1100 North Market
Street, Wilmington, Delaware 19890-0001.&nbsp;&nbsp;The Trustee is unaffiliated with the Sponsor.&nbsp;&nbsp;The Trustee&rsquo;s
duties and liabilities with respect to the offering of Shares and the management of the Trust and the Fund are limited to its express
obligations under the Trust Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trustee will accept service of legal process
on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust Act.&nbsp;&nbsp;The Trustee
does not owe any other duties to the Trust, the Sponsor or the Shareholders.&nbsp;&nbsp;The Trustee is permitted to resign upon
at least sixty (60) days&rsquo; notice to the Sponsor.&nbsp;&nbsp;If no successor trustee has been appointed by the Sponsor within
such sixty-day period, the Trustee may, at the expense of the Trust, petition a court to appoint a successor.&nbsp;&nbsp;The Trust
Agreement provides that the Trustee is entitled to reasonable compensation for its services from the Sponsor or an affiliate of
the Sponsor (including the Trust), and is indemnified by the Sponsor against any expenses it incurs relating to or arising out
of the formation, operation or termination of the Trust, or any action or inaction of the Trustee under the Trust Agreement, except
to the extent that such expenses result from the gross negligence or willful misconduct of the Trustee.&nbsp;&nbsp;The Sponsor
has the discretion to replace the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trustee has not signed the registration
statement of which this prospectus is a part, and is not subject to issuer liability under the federal securities laws for the
information contained in this prospectus and under federal securities laws with respect to the issuance and sale of the Shares.&nbsp;&nbsp;Under
such laws, neither the Trustee, either in its capacity as Trustee or in its individual capacity, nor any director, officer or controlling
person of the Trustee is, or has any liability as, the issuer or a director, officer or controlling person of the issuer of the
Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Under the Trust Agreement, the Trustee has delegated
to the Sponsor the exclusive management and control of all aspects of the business of the Trust and the Fund.&nbsp;&nbsp;The Trustee
has no duty or liability to supervise or monitor the performance of the Sponsor, nor does the Trustee have any liability for the
acts or omissions of the Sponsor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Because the Trustee has delegated substantially
all of its authority over the operation of the Trust to the Sponsor, the Trustee itself is not registered in any capacity with
the CFTC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="a_027"></A><B>Operation of the Fund</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The investment objective of the Fund is to have
daily changes in percentage terms of the Shares&rsquo; NAV reflect the daily changes in percentage terms of a weighted average
of the closing settlement prices of three Wheat Futures Contracts: (1) the second-to-expire CBOT Wheat Futures Contract traded
on the CBOT, weighted 35%, (2) the third-to-expire CBOT Wheat Futures Contract, weighted 30%, and (3) the CBOT Wheat Futures Contract
expiring in the December following the expiration month of the third-to-expire contracts, weighted 35%. The Sponsor does not intend
that the Fund will be operated in a fashion such that its NAV</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">equals, in dollar terms, the spot price of a bushel or other unit
of wheat or the price of any particular Wheat Futures Contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund seeks to achieve its investment objective
by investing under normal market conditions in Benchmark Component Futures Contracts or, in certain circumstances, in other Wheat
Futures Contracts traded on the CBOT or on foreign exchanges.&nbsp;&nbsp;In addition, and to a limited extent, the Fund also may
invest in exchange-traded options on Wheat Futures Contracts and in Cleared Wheat Swaps in furtherance of the Fund's investment
objective.&nbsp;&nbsp;Once position limits in CBOT Wheat Futures Contracts are applicable, the Fund's intention is to invest first
in Cleared Wheat Swaps to the extent permitted by the position limits applicable to Cleared Wheat Swaps and appropriate in light
of the liquidity in the Cleared Wheat Swap market, and then in Other Wheat Interests.&nbsp;&nbsp;See &ldquo;The Offering &ndash;
Futures Contracts&rdquo; below.&nbsp;&nbsp;By utilizing certain or all of these investments, the Sponsor endeavors to cause the
Fund's performance to closely track that of the Benchmark.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Fund invests in Wheat Interests to the
fullest extent possible without being leveraged or unable to satisfy its current or potential margin or collateral obligations
with respect to its investments in Wheat Interests.&nbsp;&nbsp;After fulfilling such margin and collateral requirements, the Fund
invests the remainder of its proceeds from the sale of baskets in short-term Treasury Securities or cash equivalents, and/or merely
hold such assets in cash (generally in interest-bearing accounts).&nbsp;&nbsp;Therefore, the focus of the Sponsor in managing the
Fund is investing in Wheat Interests and in Treasury Securities, cash and/or cash equivalents.&nbsp;&nbsp;The Sponsor expects to
manage the Fund&rsquo;s investments directly, although it has been authorized by the Trust to retain, establish the terms of retention
for, and terminate third-party commodity trading advisors to provide such management.&nbsp;&nbsp;The Sponsor has substantial discretion
in managing the Fund&rsquo;s investments consistent with meeting its investment objective of tracking the Benchmark, including
the discretion: (1) to choose whether to invest in the Benchmark Component Futures Contracts or other Wheat Futures Contracts,
Cleared Wheat Swaps or Other Wheat Interests with similar investment characteristics; (2) to choose when to &ldquo;roll&rdquo;
the Fund&rsquo;s positions in Wheat Interests as described below, and (3) to manage the Fund&rsquo;s investments in Treasury Securities,
cash and cash equivalents. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund seeks to achieve its investment objective
primarily by investing in Wheat Interests such that the changes in its NAV are expected to closely track the changes in the Benchmark.&nbsp;&nbsp;The
Fund&rsquo;s positions in Wheat Interests are changed or &ldquo;rolled&rdquo; on a regular basis in order to track the changing
nature of the Benchmark.&nbsp;&nbsp;For example, five times a year (on the date on which a Wheat Futures Contract expires), the
second-to-expire Wheat Futures Contract will become the next-to-expire Wheat Futures Contract and will no longer be a Benchmark
Component Futures Contract, and the Fund&rsquo;s investments will have to be changed accordingly.&nbsp;&nbsp;In order that the
Fund&rsquo;s trading does not cause unwanted market movements and to make it more difficult for third parties to profit by trading
based on such expected market movements, the Fund&rsquo;s investments may not be rolled entirely on that day, but rather may be
rolled over a period of days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> In seeking to achieve the Fund&rsquo;s investment
objective of tracking the Benchmark, the Sponsor may for certain reasons cause the Fund to enter into or hold Wheat Futures Contracts
other than the Benchmark Component Futures Contracts, Cleared Wheat Swaps and/or Other Wheat Interests.&nbsp;&nbsp;For example,
certain Cleared Wheat Swaps have standardized terms similar to, and are priced by reference to, a corresponding Benchmark Component
Futures Contract.&nbsp;&nbsp;Additionally, over-the-counter Wheat Interests can generally be structured as the parties to the contract
desire.&nbsp;&nbsp;Therefore, the Fund might enter into multiple Cleared Wheat Swaps and/or over-the-counter Wheat Interests intended
to exactly replicate the performance of each of the three Benchmark Component Futures Contracts, or a single over-the-counter Wheat
Interest designed to replicate the performance of the Benchmark as a whole.&nbsp;&nbsp;Assuming that there is no default by a counterparty
to an over-the-counter Wheat Interest, the performance of the Wheat Interest will necessarily correlate exactly with the performance
of the Benchmark or the applicable Benchmark Component Futures Contract.&nbsp;&nbsp;The Fund might also enter into or hold Wheat
Interests other than the Benchmark Component Futures Contracts to facilitate effective trading, consistent with the discussion
of the Fund&rsquo;s &ldquo;roll&rdquo; strategy discussed in the preceding paragraph.&nbsp;&nbsp;In addition, the Fund might enter
into or hold Wheat Interests that would be expected to&nbsp;alleviate overall deviation between the Fund&rsquo;s performance and
that of the Benchmark that may result from certain market and trading inefficiencies or other reasons.&nbsp;&nbsp;By utilizing
certain or all of the investments described above, the Sponsor endeavors to cause the Fund&rsquo;s performance to closely track
that of the Benchmark. </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor endeavors to place the Fund&rsquo;s
trades in Wheat Interests and otherwise manage the Fund&rsquo;s investments so that the Fund&rsquo;s average daily tracking error
against the Benchmark is less than 10 percent over any period of 30 trading days.&nbsp;&nbsp;More specifically, the Sponsor endeavors
to manage the Fund so that A will be within plus/minus 10 percent of B, where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">A is the average daily change in the Fund&rsquo;s NAV for any period of 30 successive valuation days; i.e., any trading day as of which the Fund calculates its NAV, and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">B is the average daily change in the price of the Benchmark over the same period.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"> The Sponsor
believes that market arbitrage opportunities cause daily changes in the Fund&rsquo;s Share price on the NYSE Arca to track daily
changes in the Fund&rsquo;s NAV per share.&nbsp;&nbsp;The Sponsor believes that the net effect of this expected relationship and
the expected relationship described above between the Fund&rsquo;s NAV and the Benchmark will be that daily changes in the price
of the Fund&rsquo;s Shares on the NYSE Arca will track daily changes in the Benchmark.&nbsp;&nbsp;This relationship may be affected
by various market factors, including but not limited to, the number of shares of the Fund outstanding and the liquidity of the
underlying holdings. While the Benchmark is composed of Futures Contracts and is therefore a measure of the price of wheat for
future delivery, there is nonetheless expected to be a reasonable degree of correlation between the Benchmark and the cash or spot
price of wheat. These relationships are illustrated in the following diagram: </FONT> </P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;<IMG SRC="chart44.gif" ALT=""></P>



<P STYLE="margin: 0"></P>


<P STYLE="margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1in 0 9pt; text-indent: 0.25in">An investment in the Shares provides
a means for diversifying an investor&rsquo;s portfolio or hedging exposure to changes in wheat prices.&nbsp;&nbsp;An investment
in the Shares allows both retail and institutional investors to easily gain this exposure to the wheat market in a transparent,
cost-effective manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor employs a &ldquo;neutral&rdquo;
investment strategy intended to track changes in the Benchmark regardless of whether the Benchmark goes up or goes down.&nbsp;&nbsp;The
Fund&rsquo;s &ldquo;neutral&rdquo; investment strategy is designed to permit investors generally to purchase and sell the Fund&rsquo;s
Shares for the purpose of investing indirectly in the wheat market in a cost-effective manner.&nbsp;&nbsp;Such investors may include
participants in the wheat industry and other industries seeking to hedge the risk of losses in their wheat-related transactions,
as well as investors seeking exposure to the wheat market.&nbsp;&nbsp;Accordingly, depending on the investment objective of an
individual investor, the risks generally associated with investing in the wheat market and/or the risks involved in hedging may
exist.&nbsp;&nbsp;In addition, an investment in the Fund involves the risk that the changes in the price of the Fund&rsquo;s Shares
will not accurately track the changes in the Benchmark, and that changes in the Benchmark will not closely correlate with changes
in the price of wheat on the spot market.&nbsp;&nbsp;Furthermore, as noted above, the Fund also holds short-term Treasury Securities,
cash and/or cash equivalents to meet its current or potential margin or collateral requirements with respect to its investments
in Wheat Interests and to invest cash not required to be used as margin or collateral.&nbsp;&nbsp;The Fund does not expect there
to be any meaningful correlation between the performance of the Fund&rsquo;s investments in Treasury Securities/cash/cash equivalents
and the changes in the price of wheat or Wheat Interests.&nbsp;&nbsp;While the level of interest earned on, or the market price
of, these investments may in some respects correlate to changes in the price of wheat, this correlation is not anticipated as part
of the Fund&rsquo;s efforts to meet its objective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund&rsquo;s total portfolio composition
is disclosed each business day that the NYSE Arca is open for trading on the Fund&rsquo;s website at <B><U>www.teucriumweatfund.com</U></B>.&nbsp;&nbsp;The
website disclosure of portfolio holdings is made daily and includes, as applicable, the name and value of each commodity futures
contract held and those that are pending, the name and value of each Treasury security and cash equivalent held in the Fund, and
the amount of cash held in the Fund&rsquo;s portfolio. The Fund&rsquo;s website also includes the NAV, the 4 p.m. Bid/Ask</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Midpoint as reported by the NYSE Arca, the last trade price as reported
by the NYSE Arca, the shares outstanding, the shares available for issuance, and the shares created or redeemed on that day. The
prospectus, Monthly Statements of Account, Quarterly Performance of the Midpoint versus the NAV (as required by the CFTC), and
the Roll Dates, as well as Forms 10-Q, Forms 10-K, and other SEC filings for the Fund, are also posted on the website. The Fund&rsquo;s
website is publicly accessible at no charge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Shares issued by the Fund may only be purchased
by Authorized Purchasers and only in blocks of 25,000 Shares called Creation Baskets.&nbsp;&nbsp;The amount of the purchase payment
for a Creation Basket is equal to the aggregate NAV of Shares in the Creation Basket.&nbsp;&nbsp;Similarly, only Authorized Purchasers
may redeem Shares and only in blocks of 25,000 Shares called Redemption Baskets.&nbsp;&nbsp;The amount of the redemption proceeds
for a Redemption Basket is equal to the aggregate NAV of Shares in the Redemption Basket.&nbsp;&nbsp;The purchase price for Creation
Baskets and the redemption price for Redemption Baskets are the actual NAV calculated at the end of the business day when a request
for a purchase or redemption is received by the Fund. The NYSE Arca publishes an approximate NAV intra-day based on the prior day&rsquo;s
NAV and the current price of the Benchmark Component Futures Contracts, but the price of Creation Baskets and Redemption Baskets
is determined based on the actual NAV calculated at the end of each trading day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">While the Fund issues Shares only in Creation
Baskets, Shares may also be purchased and sold in much smaller increments on the NYSE Arca.&nbsp;&nbsp;These transactions, however,
are effected at the bid and ask prices established by the specialist firm(s).&nbsp;&nbsp;Like any listed security, Shares can be
purchased and sold at any time a secondary market is open.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>The Fund&rsquo;s Investment Strategy</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In managing the Fund&rsquo;s assets, the Sponsor
does not use a technical trading system that automatically issues buy and sell orders.&nbsp;&nbsp;Instead, each time one or more
baskets are purchased or redeemed, the Sponsor purchases or sells Wheat Interests with an aggregate market value that approximates
the amount of cash received or paid upon the purchase or redemption of the basket(s).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> As an example, assume that a Creation Basket
is sold by the Fund, and that the Fund&rsquo;s closing NAV per share is $15.00.&nbsp;&nbsp;In that case, the Fund would receive
$375,000 in proceeds from the sale of the Creation Basket ($15.00 NAV per share multiplied by 25,000 Shares, and ignoring the Creation
Basket fee of $250).&nbsp;&nbsp;If one were to assume further that the Sponsor wants to invest the entire proceeds from the Creation
Basket in the Benchmark Component Futures Contracts and that the market value of each such Benchmark Component Futures Contracts
is $32,500 (or otherwise not a round number), the Fund would be unable to buy an exact number of Wheat Futures Contracts with an
aggregate market value equal to $375,000.&nbsp;&nbsp;Instead, the Fund would be able to purchase 11 Benchmark Component Futures
Contracts with an aggregate market value of $357,500.&nbsp;&nbsp;Assuming a margin requirement equal to 10% of the value of the
Wheat Futures Contracts, the Fund would be required to deposit $35,750 in Treasury Securities and cash with the FCM through which
the Wheat Futures Contracts were purchased.&nbsp;&nbsp;The remainder of the proceeds from the sale of the Creation Basket, $339,250,<B>&nbsp;</B>would
remain invested in cash, cash equivalents, and Treasury Securities as determined by the Sponsor from time to time based on factors
such as potential calls for margin or anticipated redemptions. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The specific Wheat Interests purchased depend
on various factors, including a judgment by the Sponsor as to the appropriate diversification of the Fund&rsquo;s investments.&nbsp;&nbsp;While
the Sponsor anticipates that a substantial majority of the Fund&rsquo;s assets will be invested in CBOT Wheat Futures Contracts
and Cleared Wheat Swaps, for various reasons, including the ability to enter into the precise amount of exposure to the wheat market
and position limits on Wheat Futures Contracts and Cleared Wheat Swaps, it may also invest in Other Wheat Interests, including
swaps other than Cleared Wheat Swaps, in the over-the-counter market to a potentially significant degree.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor does not anticipate letting its
Wheat Futures Contracts expire and taking delivery of wheat.&nbsp;&nbsp;Instead, the Sponsor closes out existing positions, e.g.,
in response to ongoing changes in the Benchmark or if it otherwise determines it would be appropriate to do so and reinvest the
proceeds in new Wheat Interests.&nbsp;&nbsp;Positions may also be closed out to meet orders for Redemption Baskets, in which case
the proceeds from closing the positions will not be reinvested.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_029"></A>Futures Contracts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Futures contracts are agreements between two
parties.&nbsp;&nbsp;One party agrees to buy a commodity such as wheat from the other party at a later date at a price and quantity
agreed upon when the contract is made.&nbsp;&nbsp;In market terminology, a party who purchases a futures contract is long in the
market and a party who sells a futures contract is short in the market.&nbsp;&nbsp;The contractual obligations of a buyer or seller
may generally be satisfied by taking or making physical delivery of the underlying commodity or by making an offsetting sale or
purchase of an identical futures contract on the same or linked exchange before the designated date of delivery.&nbsp;&nbsp;The
difference between the price at which the futures contract is purchased or sold and the price paid for the offsetting sale or purchase,
after allowance for brokerage commissions, constitutes the profit or loss to the trader.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If the price of the commodity increases after
the original futures contract is entered into, the buyer of the futures contract will generally be able to sell a futures contract
to close out its original long position at a price higher than that at which the original contract was purchased, generally resulting
in a profit to the buyer.&nbsp;&nbsp;Conversely, the seller of a futures contract will generally profit if the price of the underlying
commodity decreases, as it will generally be able to buy a futures contract to close out its original short position at a price
lower than that at which the original contract was sold.&nbsp;&nbsp;Because the Fund seeks to track the Benchmark directly and
profit when the price of wheat increases and, as a likely result of an increase in the price of wheat, the price of Wheat Futures
Contracts increase, the Fund will generally be long in the market for wheat, and will generally sell Wheat Futures Contracts only
to close out existing long positions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Futures contracts are typically traded on futures
exchanges such as the CBOT, which provide centralized market facilities in which multiple persons may trade contracts.&nbsp;&nbsp;Members
of a particular futures exchange and the trades executed on such exchange are subject to the rules of that exchange.&nbsp;&nbsp;Futures
exchanges and their related clearing organizations are given reasonable latitude in promulgating rules and regulations to control
and regulate their members.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Trades on a futures exchange are generally cleared
by the exchange or an affiliated clearing organization, which provides services designed to mutualize or transfer the credit risk
arising from the trading of contracts on an exchange.&nbsp;&nbsp;The clearing organization effectively becomes the other party
to the trade, and each clearing member party to the trade looks only to the clearing organization for performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Wheat Futures Contracts are traded on the CBOT
in units of 5,000 bushels.&nbsp;&nbsp;Generally, futures contracts traded on the CBOT are priced by floor brokers and other exchange
members both through an &ldquo;open outcry&rdquo; of offers to purchase or sell the contracts and through an electronic, screen-based
system that electronically determines the price by matching offers to purchase and sell. Futures contracts may also be based on
commodity indices, in that they call for a cash payment based on the change in the value of the specified index during a specified
period.&nbsp;&nbsp;No futures contracts based on an index of wheat prices are currently available, although the Fund could enter
into such contracts should they become available in the future.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Certain typical and significant characteristics
of Wheat Futures Contracts are discussed below.&nbsp;&nbsp;Additional risks of investing in Wheat Futures Contracts are included
in &ldquo;What are the Risk Factors Involved with an Investment in the Fund?&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Impact of Position Limits, Accountability
Levels, and Price Fluctuation Limits.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> All of these limits may potentially cause
a tracking error between the price of the Shares and the Benchmark. This may in turn prevent you from being able to effectively
use the Fund as a way to hedge against wheat-related losses or as a way to indirectly invest in wheat. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 0.5in"> The Fund does not intend to limit the size of the
offering and will attempt to expose substantially all of its proceeds to the wheat market utilizing Wheat Interests. If the Fund
encounters position limits, accountability levels, or price fluctuation limits for Wheat Futures Contracts and/or Cleared Wheat
Swaps on the CBOT, it may then, if permitted under applicable regulatory requirements, purchase Other Wheat Interests and/or Wheat
Futures Contracts listed on foreign exchanges. However, the </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 0.5in"> Wheat Futures Contracts available on such foreign
exchanges may have different underlying sizes, deliveries, and prices. In addition, the Wheat Futures Contracts available on these
exchanges may be subject to their own position limits and accountability levels. In any case, notwithstanding the potential availability
of these instruments in certain circumstances, position limits could force the Fund to limit the number of Creation Baskets that
it sells. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Price Volatility</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Despite daily price limits, the price volatility
of futures contracts generally has been historically greater than that for traditional securities such as stocks and bonds.&nbsp;&nbsp;Price
volatility often is greater day-to-day as opposed to intra-day.&nbsp;&nbsp;Economic factors that may cause volatility in Wheat
Futures Contracts include changes in interest rates; governmental, agricultural, trade, fiscal, monetary and exchange control programs
and policies; weather and climate conditions; changing supply and demand relationships; changes in balances of payments and trade;
U.S. and international rates of inflation; currency devaluations and revaluations; U.S. and international political and economic
events; and changes in philosophies and emotions of market participants.&nbsp;&nbsp;Because the Fund invests a significant portion
of its assets in futures contracts, the assets of the Fund, and therefore the price of the Fund&rsquo;s Shares, may be subject
to greater volatility than traditional securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B><I>Term Structure
of Futures Contracts and the Impact on Total Return</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Several factors determine the total return from
investing in futures contracts.&nbsp;&nbsp;Because the Fund must periodically &ldquo;roll&rdquo; futures contract positions, closing
out soon-to-expire contracts that are no longer part of the Benchmark and entering into subsequent-to-expire contracts, one such
factor is the price relationship between soon-to-expire contracts and later-to-expire contracts.&nbsp;&nbsp;For example, if market
conditions are such that the prices of soon-to-expire contracts are higher than later-to-expire contracts (a situation referred
to as &ldquo;backwardation&rdquo; in the futures market), then absent a change in the market, the price of contracts will rise
as they approach expiration. Conversely, if the price of soon-to-expire contracts is lower than later-to-expire contracts (a situation
referred to as &ldquo;contango&rdquo; in the futures market), then absent a change in the market the price of contracts will decline
as they approach expiration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Over time, the price of wheat fluctuates based
on a number of market factors, including demand for wheat relative to its supply.&nbsp;&nbsp;The value of Wheat Futures Contracts
likewise fluctuates in reaction to a number of market factors.&nbsp;&nbsp;If investors seek to maintain their holdings in Wheat
Futures Contracts with a roughly constant expiration profile and not take delivery of the wheat, they must on an ongoing basis
sell their current positions as they approach expiration and invest in later-to-expire contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If the futures market is in a state of backwardation
(i.e., when the price of wheat in the future is expected to be less than the current price), the Fund will buy later-to-expire
contracts for a lower price than the sooner-to-expire contracts that it sells.&nbsp;&nbsp;Hypothetically, and assuming no changes
to either prevailing wheat prices or the price relationship between the spot price, soon-to-expire contracts and later-to-expire
contracts, the value of a contract will rise as it approaches expiration, increasing the Fund&rsquo;s total return (ignoring the
impact of commission costs and the interest earned on Treasury Securities, cash and/or cash equivalents).&nbsp;&nbsp;As an example,
assume that the Fund owns 100 Wheat Futures Contracts that have recently become spot month contracts, that the price of spot month
Wheat Futures Contracts is $5.00 per bushel, and that the price of second-to-expire Wheat Futures Contracts is $4.75 per bushel.&nbsp;&nbsp;The
Fund will close out the spot month Wheat Futures Contracts at a value of $2,500,000 (100 contracts multiplied by 5,000 bushels
per contract multiplied by $5.00), and will be able to enter into 105 second-to-expire Wheat Futures Contracts with the proceeds,
representing an additional 25,000 bushels of wheat than it previously owned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If the futures market is in contango, the Fund
will buy later-to-expire contracts for a higher price than the sooner-to-expire contracts that it sells. Hypothetically, and assuming
no other changes to either prevailing wheat prices or the price relationship between the spot price, soon-to-expire contracts and
later-to-expire contracts, the value of a contract will fall as it approaches expiration, decreasing the Fund&rsquo;s total return
(ignoring the impact of commission costs and the interest earned on Treasury Securities, cash and/or cash equivalents).&nbsp;&nbsp;As
an example, assume the same facts as in the prior paragraph except that the price of second-to-</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">expire Wheat Futures Contracts is $5.25 per bushel.&nbsp;&nbsp;The
Fund will sell the spot month Wheat Futures Contracts for $2,500,000 and will be able to purchase only 95 second-to-expire Wheat
Futures Contracts with the proceeds, representing 25,000 fewer bushels of wheat than it previously owned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Historically, the wheat futures markets have
experienced periods of both contango and backwardation. Frequently, whether contango or backwardation exists is a function, among
other factors of the seasonality of the wheat market and the wheat harvest cycle, as discussed above. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Margin Requirements and Marking-to-Market
Futures Positions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Initial margin&rdquo; is an amount of
funds that must be deposited by a commodity interest trader with the trader&rsquo;s broker to initiate an open position in futures
contracts.&nbsp;&nbsp;A margin deposit is like a cash performance bond.&nbsp;&nbsp;It helps assure the trader&rsquo;s performance
of the futures contracts that he or she purchases or sells.&nbsp;&nbsp;Futures contracts are customarily bought and sold on initial
margin that represents a small percentage (ranging upward from less than 2%) of the aggregate purchase or sales price of the contract.&nbsp;&nbsp;The
amount of margin required in connection with a particular futures contract is set by the exchange on which the contract is traded.&nbsp;&nbsp;Brokerage
firms, such as the Fund&rsquo;s clearing broker, carrying accounts for traders in commodity interest contracts may require higher
amounts of margin as a matter of policy to further protect themselves.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Futures contracts are marked to market at the
end of each trading day and the margin required with respect to such contracts is adjusted accordingly.&nbsp;&nbsp;This process
of marking-to-market is designed to prevent losses from accumulating in any futures account.&nbsp;&nbsp;Therefore, if the Fund&rsquo;s
futures positions have declined in value, the Fund may be required to post &ldquo;variation margin&rdquo; to cover this decline.&nbsp;&nbsp;Alternatively,
if the Fund&rsquo;s futures positions have increased in value, this increase will be credited to the Fund&rsquo;s account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_030"></A>Cleared Wheat Swaps</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A swap agreement is a bilateral contract to
exchange a periodic stream of payments determined by reference to a notional amount, with payment typically made between the parties
on a net basis.&nbsp;&nbsp;For instance, in the case of a wheat swap, the Fund may be obligated to pay a fixed price per bushel
of wheat multiplied by a notional number of bushels and be entitled to receive an amount per bushel equal to the current value
of an index of wheat prices, the price of a specified Wheat Futures Contract, or the average price of a group of Wheat Futures
Contracts such as the Benchmark (times the same notional number of bushels).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The CFTC issued an order that permits certain
privately-negotiated agricultural swap contracts, including certain types of wheat swaps, to be cleared by the CBOT&rsquo;s affiliated
provider of clearing services.&nbsp;&nbsp;The Fund expects to focus on investments in these Cleared Wheat Swaps, as well as Wheat
Futures Contracts, rather than over-the-counter wheat swaps.&nbsp;&nbsp;Cleared Wheat Swaps are currently subject to position limits
that are similar to, but currently measured separately from, the positions limits applicable to Wheat Futures Contracts. Specifically,
the CBOT&rsquo;s position limits for Cleared Wheat Swaps (i.e., Wheat Calendar Swaps) are 12,000 contracts expiring in any single
month, and 12,000 contracts for all months. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Like Wheat Futures Contracts, Cleared Wheat
Swaps are standardized as to certain material economic terms, including that each such swap be for a quantity of 5,000 bushels,
which permits less flexibility in their structuring than with over-the-counter Wheat Interests.&nbsp;&nbsp;The two parties to a
Cleared Wheat Swap agree on the specific fixed price component and the calendar month of expiration, and agree to submit the Cleared
Wheat Swap to the clearing organization.&nbsp;&nbsp;The clearing organization assumes the credit risk relating to the transaction,
which effectively eliminates the creditworthiness of the counterparty as a risk.&nbsp;&nbsp;Unlike Wheat Futures Contracts, Cleared
Wheat Swaps call for settlement in cash, and do not permit settlement by delivery or receipt of physical wheat.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_031"></A>Over-the-Counter Derivatives</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In addition to futures contracts, options on
futures contracts and cleared swaps, derivative contracts that are tied to various commodities, including wheat, are entered into
outside of public exchanges.&nbsp;&nbsp;These &ldquo;over-the-counter&rdquo; contracts are entered into between two parties in
private contracts.&nbsp;&nbsp;Unlike Wheat Futures</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Contracts and Cleared Wheat Swaps, which are guaranteed by a clearing
organization, each party to an over-the-counter derivative contract bears the credit risk of the other party, <I>i.e.</I>, the
risk that the other party will not be able to perform its obligations under its contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Some over-the-counter derivatives contracts
contain relatively standardized terms and conditions and are available from a wide range of participants.&nbsp;&nbsp;Others have
highly customized terms and conditions and are not as widely available.&nbsp;&nbsp;While the Fund may enter into these more customized
contracts, the Fund will only enter into over-the-counter contracts containing certain terms and conditions, as discussed further
below, that are designed to minimize the credit risk to which the Fund will be subject and only if the terms and conditions of
the contract are consistent with achieving the Fund&rsquo;s investment objective of tracking the Benchmark.&nbsp;&nbsp;The over-the-counter
contracts that the Fund may enter into will take the form of either forward contracts or swaps. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A forward contract is a contractual obligation
to purchase or sell a specified quantity of a commodity at or before a specified date in the future at a specified price and, therefore,
is economically similar to a futures contract.&nbsp;&nbsp;Unlike futures contracts, however, forward contracts are typically traded
in the over-the-counter markets.&nbsp;&nbsp;In some instances such contracts may provide for cash settlement instead of making
or taking delivery of the underlying commodity.&nbsp;&nbsp;Forward contracts for a given commodity are generally available for
various amounts and maturities and are subject to individual negotiation between the parties involved.&nbsp;&nbsp;Moreover, generally
there is no direct means of offsetting or closing out a forward contract by taking an offsetting position as one would a futures
contract on a U.S. exchange.&nbsp;&nbsp;If a trader desires to close out a forward contract position, he generally will establish
an opposite position in the contract but will settle and recognize the profit or loss on both positions simultaneously on the delivery
date.&nbsp;&nbsp;Thus, unlike in the futures contract market where a trader who has offset positions will recognize profit or loss
immediately, in the forward market a trader with a position that has been offset at a profit will generally not receive such profit
until the delivery date, and likewise a trader with a position that has been offset at a loss will generally not have to pay money
until the delivery date.&nbsp;&nbsp;However, in some instances such contracts may provide a right of offset that will allow for
the receipt of profit and payment for losses prior to the delivery date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 8pt">&nbsp;&#9;</FONT><FONT STYLE="font-size: 10pt">Like
a Cleared Wheat Swap, an over-the-counter swap agreement is a bilateral contract to exchange a periodic stream of payments determined
by reference to a notional amount, with payment typically made between the parties on a net basis. For instance, in the case of
a wheat swap, the Fund may be obligated to pay a fixed price per bushel of wheat multiplied by a notional number of bushels and
be entitled to receive an amount per bushel equal to the current value of an index of wheat prices, the price of a specified Wheat
Futures Contract, or the average price of a group of Wheat Futures Contracts such as the Benchmark (times the same notional number
of bushels).&nbsp;&nbsp;Unlike Cleared Wheat Swaps, however, each party to the swap is subject to the credit risk of the other
party.&nbsp;&nbsp;The Fund only enters into over-the-counter swaps on a net basis, where the two payment streams are netted out
on a daily basis, with the parties receiving or paying, as the case may be, only the net amount of the two payments.&nbsp;&nbsp;Swaps
do not generally involve the delivery of underlying assets or principal.&nbsp;&nbsp;Accordingly, the Fund&rsquo;s risk of loss
with respect to an over-the-counter swap generally is limited to the net amount of payments that the counterparty is contractually
obligated to make less any collateral deposits the Fund is holding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">To reduce the credit risk that arises in connection
with over-the-counter contracts, the Fund generally enters into an agreement with each counterparty based on the Master Agreement
published by the International Swaps and Derivatives Association, Inc. that provides for the netting of the Fund&rsquo;s overall
exposure to its counterparty and for daily payments based on the marked to market value of the contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The creditworthiness of each potential counterparty
will be assessed by the Sponsor.&nbsp;&nbsp;The Sponsor assesses or reviews, as appropriate, the creditworthiness of each potential
or existing counterparty to an over-the-counter contract pursuant to guidelines approved by the Sponsor.&nbsp;&nbsp;&nbsp;&nbsp;The
creditworthiness of existing counterparties will be reviewed periodically by the Sponsor. The Sponsor&rsquo;s President and Chief
Investment Officer has over 25 years of experience in over-the-counter derivatives trading, including the counterparty creditworthiness
analysis inherent therein, and the Sponsor&rsquo;s Chief Executive Officer, through his prior experience as a Chief Financial Officer
and Treasurer, has extensive experience evaluating the creditworthiness of business partners and counterparties to commercial and
derivative contracts.&nbsp;&nbsp;Notwithstanding this</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">experience, there is no guarantee that the Sponsor&rsquo;s creditworthiness
analysis will be successful and that counterparties selected for Fund transactions will not default on their contractual obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund also may require that a counterparty
be highly rated and/or provide collateral or other credit support.&nbsp;&nbsp;The Sponsor on behalf of the Fund may enter into
over-the-counter contracts with various types of counterparties, including: (a) banks regulated by a United States federal bank
regulator, (b) broker-dealers regulated by the SEC, (c) insurance companies domiciled in the United States, (d) producers of wheat
such as farmers and related agricultural enterprises, (e) users of wheat such as producers of prepared food products, (f) any other
person (including affiliates of any of the above) who is engaged to a substantial degree in the business of trading commodities.&nbsp;&nbsp;Certain
of these types of counterparties will not be subject to regulation by the CFTC or any other significant federal or state regulatory
structure.&nbsp;&nbsp;While it is the Sponsor&rsquo;s preference to use regulated entities as counterparties, the Sponsor primarily
considers creditworthiness in selecting counterparties rather than the primary business of the prospective counterparty or the
regulatory structure to which it is subject.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="a_032"></A><B>Benchmark Performance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">See the graph below under &ldquo;Benchmark Performance&rdquo;
in the Statement of Additional Information at the end of this prospectus.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT><FONT STYLE="font-size: 10pt"><B><A NAME="a_033"></A>The
Wheat Market</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Wheat is used to produce flour, the key ingredient
for breads, pasta, crackers and many other food products, as well as several industrial products such as starches and adhesives.&nbsp;&nbsp;Wheat
by-products are used in livestock feeds.&nbsp;&nbsp;Wheat is the principal food grain produced in the United States, and the United
States&rsquo; output of wheat is typically exceeded only by that of China, the European Union and India.&nbsp;&nbsp;The United
States Department of Agriculture (&ldquo;USDA&rdquo;) estimates that for 2013-2014, that the principal global producers of wheat
will be the EU, the former Soviet nations known as the FUS-12, China, India, the United States, Australia and Canada. The U.S.
generates approximately 8% of the global production, with almost half of that being exported. Global wheat production is estimated
to be 712.7 MMT for 2013-2014, which is basically equal to consumption of 703.4 MMT. If the global supply of wheat exceeds global
demand, this may have an adverse impact on the price of wheat. The USDA publishes weekly, monthly, quarterly and annual updates
for U.S. domestic and worldwide wheat production and consumption.&nbsp;&nbsp;These reports are available on the USDA&rsquo;s website,
<U>www.usda.gov</U>, at no charge.&nbsp;&nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">There are several types of wheat grown in the
U.S., which are classified in terms of color, hardness, and growing season.&nbsp;&nbsp;CBOT Wheat Futures Contracts call for delivery
of #2 soft red winter wheat, which is generally grown in the eastern third of the United States, but other types and grades of
wheat may also be delivered &nbsp;(Grade #1 soft red winter wheat, Hard Red Winter, Dark Northern Spring and Northern Spring wheat
may be delivered at 3 cents premium per bushel over the contract price and #2 soft red winter wheat, Hard Red Winter, Dark Northern
Spring and Northern Spring wheat may be delivered at the contract price.) Winter wheat is planted in the fall and is harvested
in the late spring or early summer of the following year, while spring wheat is planted in the spring and harvested in late summer
or fall of the same year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Standard Wheat Futures Contracts trade on the CBOT in units of 5,000
bushels, although 1,000 bushel &ldquo;mini-wheat&rdquo; Wheat Futures Contracts also trade.&nbsp;&nbsp;There are five months each
year in which CBOT Wheat Futures Contracts expire:&nbsp;March, May, July, September and December.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> If the futures market is in a state of backwardation
(i.e., when the price of wheat in the future is expected to be less than the current price), the Fund will buy later-to-expire
contracts for a lower price than the sooner-to-expire contracts that it sells. Hypothetically, and assuming no changes to either
prevailing wheat prices or the price relationship between immediate delivery, soon-to-expire contracts and later-to-expire contracts,
the value of a contract will rise as it approaches expiration. If the futures market is in contango, the Fund will buy later-to-expire
contracts for a higher price than the sooner-to-expire contracts that it sells. Hypothetically, and assuming no other changes to
either prevailing wheat prices or the price relationship between the spot price, soon-to-expire contracts and later-to-expire contracts,
the value of a contract will fall as it approaches expiration. Historically, the wheat futures markets have experienced periods
of both contango and </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> backwardation. Frequently, whether contango or backwardation
exists is a function, among other factors, of the seasonality of the wheat market and the wheat harvest cycle. All other things
being equal, a situation involving prolonged periods of contago may adversely impact the returns of the Funds; conversely a situation
involving prolonged periods of backwardation may positively impact the returns of the Funds. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> On January 10, 2014, the USDA released its
monthly World Agricultural Supply and Demand Estimates (WASDE) for the Crop Year 2013-14. The USDA estimated that the yield per
acre for U.S. production would be 47.2 bushels per acre with 56.2 million acres planted and 45.2 million acres harvested.&nbsp;&nbsp;The
total domestic supply of wheat is estimated to be 3,008 million bushels with total usage, including exports, forecast at 2,399
million bushels.&nbsp;&nbsp;The USDA projects that the resulting &ldquo;Ending Stocks&rdquo; or inventory will be 608 million bushels,
down significantly from the 743 million bushels for the 2011-12 Crop Year, and from the 718 million bushels estimated for the 2012-2013
Crop Year.&nbsp;&nbsp;The USDA&rsquo;s projected &ldquo;Carry-out Days Supply,&rdquo; which is defined as the Ending Stocks divided
by the demand per day, is projected at 92.5 days for 2013-14, down from the 108.6 days in 2012-2013. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Global wheat production as projected by the
USDA is estimated to increase from 656.5 MMT in 2012-13 to 712.7 MMT in 2013-14. Usage in 2012-13 exceeded supply by approximately
25 MMT and is estimated to be roughly equal to production this year. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_034"></A>The Fund&rsquo;s Investments in Treasury Securities, Cash and
Cash Equivalents</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Fund seeks to have the aggregate &ldquo;notional&rdquo;
amount of the Wheat Interests it holds approximate at all times the Fund&rsquo;s aggregate NAV.&nbsp;&nbsp;At any given time, however,
most of the Fund&rsquo;s investments are in short-term Treasury Securities, cash and/or cash equivalents that support the Fund&rsquo;s
positions in Wheat Interests.&nbsp;&nbsp;For example, the purchase of a Wheat Futures Contract with a stated or notional amount
of $10 million would not require the Fund to pay $10 million upon entering into the contract; rather, only a margin deposit, generally
of approximately 10% of the notional amount, would be required. To secure its Wheat Futures Contract obligations, the Fund would
deposit the required margin with the FCM and would separately hold its remaining assets through its Custodian in Treasury Securities,
cash and/or cash equivalents.&nbsp;&nbsp;Such remaining assets may be used to meet future margin payments that the Fund is required
to make on its Wheat Futures Contracts.&nbsp;&nbsp;Cleared Wheat Swaps and Other Wheat Interests typically also involve collateral
requirements that represent a small fraction of their notional amounts, so most of the Fund&rsquo;s assets dedicated to these Wheat
Interests are also held in Treasury Securities, cash and cash equivalents. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Fund earns interest income from the Treasury
Securities and/or cash equivalents that it purchases and on the cash it holds through the Custodian or other financial institutions.&nbsp;&nbsp;The
earned interest income increases the Fund&rsquo;s NAV.&nbsp;&nbsp;The Fund applies the earned interest income to the acquisition
of additional investments or uses it to pay its expenses. When the Fund reinvests the earned interest income, it makes investments
that are consistent with its investment objectives. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any Treasury Security and cash equivalent invested
in by the Fund will have a remaining maturity of less than two years at the time of investment, or will be subject to a demand
feature that enables that Fund to sell the security within two years at approximately the security&rsquo;s face value (plus accrued
interest). Any cash equivalents invested in by the Fund will be rated in the highest short-term rating category by a nationally
recognized statistical rating organization or will be deemed by the Sponsor to be of comparable quality.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_035"></A>Other Trading Policies of the Fund</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Exchange For Risk</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">An &ldquo;exchange for risk&rdquo; transaction,
sometimes referred to as an &ldquo;exchange for swap&rdquo; or &ldquo;exchange of futures for risk,&rdquo; is a privately negotiated
and simultaneous exchange of a futures contract position for a swap or other over-the-counter instrument on the corresponding commodity.&nbsp;&nbsp;An
exchange for risk transaction can be used by the Fund as a technique to avoid taking physical delivery of wheat, in that a counterparty
will take the Fund&rsquo;s position in a Wheat Futures Contract into its own account in exchange for a swap that does not by its
terms call for physical delivery.&nbsp;&nbsp;The Fund will become subject to the credit risk of a counterparty when it</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">acquires an over-the-counter position in an exchange for risk transaction<FONT STYLE="text-underline-style: double; ">.
The Fund may use an &ldquo;exchange for risk&rdquo; transaction in connection with the creation and redemption of shares</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 22pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-size: 8pt">&nbsp;</FONT><FONT STYLE="font-size: 10pt"><B><I>Options
on Futures Contracts</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">An option on a futures contract gives the buyer
of the option the right, but not the obligation, to buy or sell a futures contract at a specified price on or before a specified
date.&nbsp;&nbsp;The option buyer deposits the purchase price or &ldquo;premium&rdquo; for the option with his broker, and the
money goes to the option seller.&nbsp;&nbsp;Regardless of how much the market swings, the most an option buyer can lose is the
option premium.&nbsp;&nbsp;However, the buyer will typically lose the premium if the exercise price of the option is above (in
the case of an option to buy or &ldquo;call&rdquo; option) or below (in the case of an option to sell or &ldquo;put&rdquo; option)
the market value at the time of exercise.&nbsp;&nbsp;Option sellers, on the other hand, face risks similar to participants in the
futures markets.&nbsp;&nbsp;For example, since the seller of a call option is assigned a short futures position if the option is
exercised, his risk is the same as someone who initially sold a futures contract.&nbsp;&nbsp;Because no one can predict exactly
how the market will move, the option seller posts margin to demonstrate his ability to meet any potential contractual obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In addition to Wheat Futures Contracts, there
are also a number of options on Wheat Futures Contracts listed on the CBOT. These contracts offer investors and hedgers another
set of financial vehicles to use in managing exposure to the commodities market. The Fund may purchase and sell (write) options
on Wheat Futures Contracts in pursuing its investment objective, except that it will not sell call options when it does not own
the underlying Wheat Futures Contract.&nbsp;&nbsp;The Fund would make use of options on Wheat Futures Contracts if, in the opinion
of the Sponsor, such an approach would cause the Fund to more closely track its Benchmark or if it would lead to an overall lower
cost of trading to achieve a given level of economic exposure to movements in wheat prices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Liquidity</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund invests only in Wheat Futures Contracts
that, in the opinion of the Sponsor, are traded in sufficient volume to permit the ready taking and liquidation of positions in
these financial interests and in over-the-counter Commodity Interests that, in the opinion of the Sponsor, may be readily liquidated
with the original counterparty or through a third party assuming the Fund&rsquo;s position.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Spot Commodities</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">While most futures contracts can be physically
settled, the Fund does not intend to take or make physical delivery.&nbsp;&nbsp;However, the Fund may from time to time trade in
Other Wheat Interests based on the spot price of wheat.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Leverage</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor endeavors to have the value of the
Fund&rsquo;s Treasury Securities, cash and cash equivalents, whether held by the Fund or posted as margin or collateral, at all
times approximate the aggregate market value of its obligations under the Fund&rsquo;s Wheat Interests. Commodity pools&rsquo;
trading positions in futures contracts are typically required to be secured by the deposit of margin funds that represent only
a small percentage of a futures contract&rsquo;s (or other commodity interest&rsquo;s) entire market value. While the Sponsor does
not intend to leverage the Fund&rsquo;s assets, it is not prohibited from doing so under the Trust Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Borrowings</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund does not intend to nor foresee the
need to borrow money or establish credit lines.&nbsp;&nbsp;The Fund maintains Treasury Securities, cash and cash equivalents, either
held by the Fund or posted as margin or collateral, with a value that at all times approximates the aggregate market value of its
obligations under Wheat Interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I></I></B></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Pyramiding</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund does not and will not employ the technique,
commonly known as pyramiding, in which the speculator uses unrealized profits on existing positions as variation margin for the
purchase or sale of additional positions in the same or another commodity interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_036"></A>The Service Providers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In its capacity as the Fund&rsquo;s custodian,
the Custodian, currently the Bank of New York Mellon, holds the Fund&rsquo;s Treasury Securities, cash and/or cash equivalents
pursuant to a custodial agreement.&nbsp;&nbsp;The Custodian is also the registrar and transfer agent for the Fund&rsquo;s Shares.&nbsp;&nbsp;In
addition, the Custodian also serves as Administrator for the Fund, performing certain administrative and accounting services and
preparing certain SEC and CFTC reports on behalf of the Fund.&nbsp;&nbsp;For these services, the Fund pays fees to the Custodian
as set forth in the table entitled &ldquo;Fees to be Paid by the Fund.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Custodian also acts as a broker for some,
but not all, of the equity transactions related to the purchase and sale of the Underlying Funds for TAGS. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Custodian&rsquo;s principal business address
is One Wall Street, New York, New York 10286.&nbsp;&nbsp;The Custodian is a New York state chartered bank subject to regulation
by the Board of Governors of the Federal Reserve System and the New York State Banking Department.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund employs Foreside Fund Services, LLC
as the Distributor for the Fund. The Distributor receives, for its services as distributor for the Fund, a fee which is set forth
in the table entitled &ldquo;Fees to be Paid by the Fund.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Distribution Services Agreement among the
Distributor, the Sponsor and the Trust calls for the Distributor to work with the Custodian in connection with the receipt and
processing of orders for Creation Baskets and Redemption Baskets and the review and approval of all Fund sales literature and advertising
materials. The Distributor and the Sponsor have also entered into a Securities Activities and Service Agreement (the &ldquo;SASA&rdquo;)
under which certain employees and officers of the Sponsor are licensed as registered representatives or registered principals of
the Distributor, under FINRA rules (&ldquo;Registered Representatives&rdquo;).&nbsp;&nbsp;As Registered Representatives of the
Distributor, these persons are permitted to engage in certain marketing activities for the Fund that they would otherwise not be
permitted to engage in.&nbsp;&nbsp;Under the SASA, the Sponsor is obligated to ensure that such marketing activities comply with
applicable law and are permitted by the SASA and the Distributor&rsquo;s internal procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Distributor&rsquo;s principal business address
is Three Canal Plaza, Suite 100, Portland, Maine 04101.&nbsp;&nbsp;The Distributor is a broker-dealer registered with the U.S.
Securities and Exchange Commission (&ldquo;SEC&rdquo;) and a member of the Financial Industry Regulatory Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> Currently, Newedge USA, LLC (&ldquo;Newedge
USA&rdquo;) serves as the Fund&rsquo;s clearing broker to execute and clear the Fund&rsquo;s futures and provide other brokerage-related
services. For TAGS, Newedge will serve as that Fund&rsquo;s clearing broker to execute and clear futures transactions. Newedge
USA is a futures commission merchant and broker dealer registered with the U.S. Commodity Futures Trading Commission (&ldquo;CFTC&rdquo;)
and the U.S. Securities and Exchange Commission (&ldquo;SEC&rdquo;), and is a member of FINRA. Newedge USA is a clearing member
of all principal futures exchanges located in the United States as well as a member of the Chicago Board Options Exchange, International
Securities Exchange, New York Stock Exchange, Options Clearing Corporation, and Government Securities Clearing Corporation. </P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> Newedge USA is headquartered at 550
W. Jackson, Suite 500, Chicago, IL 60661 with branch offices in New York, New York; Cypress, Texas (futures only); Santa Monica,
California (securities only) and Montreal, Canada (futures only). </P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Prior to January 2, 2008, Newedge USA was
known as Fimat USA, LLC. On September 1, 2008, Newedge USA merged with future commission merchant and broker dealer Newedge Financial
Inc. (&ldquo;NFI&rdquo;) &ndash; formerly known as Calyon Financial Inc. Newedge USA was the surviving entity. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> In February 2011, Newedge USA settled, without
admitting or denying the allegations, a disciplinary action brought by the CFTC alleging that Newedge USA exceeded speculative
limits in the October 2009 live cattle futures contract on the Chicago Mercantile Exchange and failed to provide accurate and timely
reports to the CFTC regarding their larger trader positions. Newedge USA paid a $140,000 civil penalty and disgorgement value of
$80,910 to settle this matter. In addition, the CFTC Order required Newedge USA to implement and maintain a program designed to
prevent and detect reporting violations of the Commodity Exchange Act and CFTC regulations. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> In January 2012, Newedge USA settled, without
admitting or denying the allegations, a disciplinary action brought by the CFTC alleging that Newedge USA failed to file accurate
and timely reports to the CFTC and failed to report certain large trader information to the CFTC. Newedge USA paid a $700,000 civil
penalty to settle this matter. In addition, the CFTC Order required Newedge USA to timely submit accurate position reports and
notices, and to implement and maintain procedures to prevent and detect reporting violations of the Commodity Exchange Act and
CFTC regulations. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> In July 2013, Newedge USA settled, without
admitting or denying the allegations, a matter brought by FINRA, on its behalf and on behalf of NYSE/NYSE ARCA, BATS and NASDAQ
exchanges, involving rules and regulations pertaining to supervision of equities direct market access and sponsored access business,
Regulation SHO and books and records retention. In connection with this matter, Newedge USA paid a fine of $9,500,000. In addition,
Newedge USA agreed to retain an independent consultant to review its policies, systems, procedures and training relating to these
areas and to implement the recommendation of such consultant based on its review and written reports. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> Other than the foregoing proceedings,
which did not have a material adverse effect upon the financial condition of Newedge USA, there have been no material administrative,
civil or criminal actions brought, pending or concluded against Newedge USA or its principals in the past five years. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> Neither Newedge USA nor any affiliate,
officer, director or employee thereof have passed on the merits of this Memorandum or offering, or give any guarantee as to the
performance or any other aspect of the Fund. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> Newedge is not affiliated with the
Fund or the Sponsor. Therefore, the Sponsor and the Fund do not believe that the Fund has any conflicts of interest with Newedge
or its trading principals arising from their acting as the Fund&rsquo;s FCM. While Sal Gilbertie, the President of the Sponsor,
was previously employed by Newedge, he no longer receives any compensation from Newedge and will not receive any share of the commissions
paid to Newedge by the Fund. </P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Currently, the Sponsor does not employ commodity
trading advisors.&nbsp;&nbsp;If, in the future, the Sponsor does employ commodity trading advisors, it will choose each advisor
based on arm&rsquo;s-length negotiations and will consider the advisor&rsquo;s experience, fees, and reputation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_037"></A>Fees to be Paid by the Fund</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Fees and Compensation Arrangements with the Sponsor and Non-Affiliated
Service Providers</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 39%; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Service Provider</B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 59%; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Compensation Paid by the Fund</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">Teucrium Trading, LLC, Sponsor</FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">1.00% of average net assets annually</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">The Bank of New York Mellon, Custodian, Transfer Agent and Administrator</TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For custody services:&nbsp;&nbsp;0.0075% of average gross assets
        up to $1 billion, and 0.0050% of average gross assets over $1 billion, annually, plus certain per-transaction charges</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
       </TD></TR>


</TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 39%"></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 59%">
         <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For transfer agency services:&nbsp;&nbsp;0.0075% of average gross
        assets annually</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For administrative services:&nbsp;&nbsp;0.05% of average gross assets
        up to $1 billion, 0.04% of average gross assets between $1 billion and $3 billion, and 0.03% of average gross assets over $3 billion,
        annually</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">A combined minimum annual fee of up to $125,000 for custody, transfer
        agency and administrative services is assessed.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Foreside Fund Services, LLC, Distributor</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Distributor receives a fee of 0.01% of the Fund&rsquo;s average
        daily net assets and an aggregate annual fee of $100,000 for all Teucrium Funds, along with certain expense reimbursements, currently
        estimated at $25,600, for a two year period related to its services for all Teucrium Funds. The fees which will be paid to the
        Distributor by the Fund per year are estimated not to exceed $10,000 per year.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Under the Securities Activities and Service Agreement (the &ldquo;SASA&rdquo;),
        the Distributor receives compensation for its activities on behalf of the Teucrium Funds which is estimated not to exceed an aggregate
        for the Teucrium Funds of $40,000 per year and $80,000 for the initial offering period. In addition, the Distributor receives certain
        expense reimbursements relating to the registration, continuing education and other administrative expenses of the Registered Representatives
        in relation to the Teucrium Funds, currently estimated at $26,500 per year and approximately $53,000 for the initial offering period.
        Of the $80,000 above, approximately $7,000 (or $3,500 per year) will be paid by the Fund. Of the $53,000 above, approximately $5,000
        (or $2,500 per year) will be paid by the Fund.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Newedge USA, LLC, Futures Commission Merchant and Clearing Broker</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">$4.00 per Wheat Futures Contract purchase or sale</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Wilmington Trust Company, Trustee</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$3,300 annually for the Trust</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Asset-based fees are calculated on a daily basis (accrued at 1/365
of the applicable percentage of NAV on that day) and paid on a monthly basis.&nbsp;&nbsp;NAV is calculated by taking the current
market value of the Fund&rsquo;s total assets and subtracting any liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The maximum compensation the Distributor may receive over the expected
two year period of this offering is estimated to be $350,000.&nbsp; The maximum expenses that will be reimbursed to the Distributor
over the two year period of this offering is estimated to be $53,000.&nbsp; The maximum expenses that will be reimbursed to Registered
Representatives of the Distributor who are also employees or officers of the Sponsor over the expected two year period of the offering
is estimated not to exceed $60,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_038"></A>Form of Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Registered Form</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Shares are issued in registered form in accordance
with the Trust Agreement.&nbsp;&nbsp;The Custodian has been appointed registrar and transfer agent for the purpose of transferring
Shares in certificated form.&nbsp;&nbsp;The Custodian</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">keeps a record of all Shareholders and holders of the Shares in
certificated form in the registry (&ldquo;Register&rdquo;). The Sponsor recognizes transfers of Shares in certificated form only
if done in accordance with the Trust Agreement.&nbsp;&nbsp;The beneficial interests in such Shares are held in book-entry form
through participants and/or accountholders in DTC.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-size: 8pt">&nbsp;
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Book Entry</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Individual certificates are not issued for the
Shares.&nbsp;&nbsp;Instead, Shares are represented by one or more global certificates, which are deposited by the Administrator
with DTC and registered in the name of Cede &amp; Co., as nominee for DTC.&nbsp;&nbsp;The global certificates evidence all of the
Shares outstanding at any time.&nbsp;&nbsp;Shareholders are limited to (1) participants in DTC such as banks, brokers, dealers
and trust companies (&ldquo;DTC Participants&rdquo;), (2) those who maintain, either directly or indirectly, a custodial relationship
with a DTC Participant (&ldquo;Indirect Participants&rdquo;), and (3) those who hold interests in the Shares through DTC Participants
or Indirect Participants, in each case who satisfy the requirements for transfers of Shares.&nbsp;&nbsp;DTC Participants acting
on behalf of investors holding Shares through such participants&rsquo; accounts in DTC will follow the delivery practice applicable
to securities eligible for DTC&rsquo;s Same-Day Funds Settlement System.&nbsp;&nbsp;Shares are credited to DTC Participants&rsquo;
securities accounts following confirmation of receipt of payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>DTC</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">DTC has advised us as follows:&nbsp;&nbsp;It
is a limited purpose trust company organized under the laws of the State of New York and is a member of the Federal Reserve System,
a &ldquo;clearing corporation&rdquo; within the meaning of the New York Uniform Commercial Code and a &ldquo;clearing agency&rdquo;
registered pursuant to the provisions of Section 17A of the Exchange Act.&nbsp;&nbsp;DTC holds securities for DTC Participants
and facilitates the clearance and settlement of transactions between DTC Participants through electronic book-entry changes in
accounts of DTC Participants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_039"></A>Transfer of Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Shares are only transferable through the
book-entry system of DTC.&nbsp;&nbsp;Shareholders who are not DTC Participants may transfer their Shares through DTC by instructing
the DTC Participant holding their Shares (or by instructing the Indirect Participant or other entity through which their Shares
are held) to transfer the Shares.&nbsp;&nbsp;Transfers are made in accordance with standard securities industry practice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Transfers of interests in Shares with DTC are
made in accordance with the usual rules and operating procedures of DTC and the nature of the transfer.&nbsp;&nbsp;DTC has established
procedures to facilitate transfers among the participants and/or accountholders of DTC.&nbsp;&nbsp;Because DTC can only act on
behalf of DTC Participants, who in turn act on behalf of Indirect Participants, the ability of a person or entity having an interest
in a global certificate to pledge such interest to persons or entities that do not participate in DTC, or otherwise take actions
in respect of such interest, may be affected by the lack of a certificate or other definitive document representing such interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">DTC has advised us that it will take any action
permitted to be taken by a Shareholder (including, without limitation, the presentation of a global certificate for exchange) only
at the direction of one or more DTC Participants in whose account with DTC interests in global certificates are credited and only
in respect of such portion of the aggregate principal amount of the global certificate as to which such DTC Participant or Participants
has or have given such direction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_040"></A>Inter-Series Limitation on Liability</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Because the Trust was established as a Delaware
statutory trust, each Teucrium Fund and each other series that may be established under the Trust in the future will be operated
so that it will be liable only for obligations attributable to such series and will not be liable for obligations of any other
series or affected by losses of any other series.&nbsp;&nbsp;If any creditor or shareholder of any particular series (such as the
Fund) asserts against the series a valid claim with respect to its indebtedness or shares, the creditor or shareholder will only
be able to obtain recovery from the assets of that series and not from the assets of any other series or the Trust</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">generally.&nbsp;&nbsp;The assets of the Fund and any other series
will include only those funds and other assets that are paid to, held by or distributed to the series on account of and for the
benefit of that series, including, without limitation, amounts delivered to the Trust for the purchase of shares in a series.&nbsp;&nbsp;This
limitation on liability is referred to as the Inter-Series Limitation on Liability.&nbsp;&nbsp;The Inter-Series Limitation on Liability
is expressly provided for under the Delaware Statutory Trust Act, which provides that if certain conditions (as set forth in Section
3804(a)) are met, then the debts of any particular series will be enforceable only against the assets of such series and not against
the assets of any other series or the Trust generally.&nbsp;&nbsp;In furtherance of the Inter-Series Limitation on Liability, every
party providing services to the Trust, the Fund or the Sponsor on behalf of the Trust or the Fund, will acknowledge and consent
in writing to the Inter-Series Limitation on Liability with respect to such party&rsquo;s claims.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The existence of a Trustee should not be taken
as an indication of any additional level of management or supervision over the Fund.&nbsp;&nbsp;Consistent with Delaware law, the
Trustee acts in an entirely passive role, delegating all authority for the management and operation of the Fund and the Trust to
the Sponsor.&nbsp;&nbsp;The Trustee does not provide custodial services with respect to the assets of the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_041"></A>Plan of Distribution</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Buying and Selling Shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Most investors buy and sell Shares of the Fund
in secondary market transactions through brokers.&nbsp;&nbsp;Shares trade on the NYSE Arca under the ticker symbol &ldquo;WEAT.&rdquo;&nbsp;&nbsp;Shares
are bought and sold throughout the trading day like other publicly traded securities.&nbsp;&nbsp;When buying or selling Shares
through a broker, most investors incur customary brokerage commissions and charges.&nbsp;&nbsp;Investors are encouraged to review
the terms of their brokerage account for details on applicable charges and, as discussed below under &ldquo;U.S. Federal Income
Tax Considerations,&rdquo; any provisions authorizing the broker to borrow Shares held on your behalf.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Distributor and Authorized Purchasers</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The offering of the Fund&rsquo;s Shares is a
best efforts offering.&nbsp;&nbsp;The Fund continuously offers Creation Baskets consisting of 25,000 Shares at their NAV through
the Distributor to Authorized Purchasers. Deutsche Bank Securities, Inc. was the initial Authorized Purchaser. The initial Authorized
Purchaser purchased two Creation Baskets of 50,000 units each at a per unit price of $25.00 on September 18, 2011. All Authorized
Purchasers currently pay a $250 fee for each Creation Basket for a maximum fee of $500 per order.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor and the Trust are parties to an
Amended and Restated Distribution Services Agreement dated as of November 17, 2010 (the &ldquo;Distribution Agreement&rdquo;),
which amended and restated in its entirety a Distribution Services Agreement between the Sponsor, the Trust, and Foreside Fund
Services, LLC (the &ldquo;Distributor&rdquo;) dated as of October 15, 2010. Pursuant to the Distribution Agreement the Distributor,
together with the Custodian, is required to provide services in connection with the receipt and processing of orders for Creation
Baskets and Redemption baskets of units of the funds that are series of the Trust, including the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Distribution Agreement, as amended, remains
in full force and effect between the parties. The Distribution Agreement was most recently amended on October 1, 2011 and was previously
amended on May 25, 2011. The first amendment to the Distribution Agreement, dated May 25, 2011, provided for it to apply to additional
series of the Trust and revised the fee schedule, including the specific fees and expenses allocable to the Fund and each of the
funds that are series of the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The second amendment revised the fee schedule
between the parties, including the specific fees and expenses allocable to the Fund and each Teucrium Fund. The Distributor receives
a fee at an annual rate of 0.01% of each Teucrium Fund&rsquo;s average daily net assets calculated and billed monthly, and an annual
aggregate fee of $100,000 for all Teucrium Funds for which the Distributor serves as such. The Distributor also receives certain
expense reimbursements relating to its distribution services, for all Teucrium Funds, currently estimated at $25,600 for a two
year period. The fees which will be paid to the Distributor by the Fund per year are estimated not to exceed $10,000 per year.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Also as of October 1, 2011, the Sponsor, the
Trust, and the Distributor entered into a letter agreement to terminate the Distribution Consulting and Marketing Services Agreement
dated as of September 17, 2010 (the &ldquo;Marketing Agreement&rdquo;) between the parties. Pursuant to the Marketing Agreement,
the Distributor was responsible for (1) marketing the Fund and other funds that are series of the Trust to financial intermediaries
and increasing financial intermediaries&rsquo; awareness of the Fund and the Teucrium Funds; (2) assisting with the market positioning
of the Fund and the Teucrium Funds; (3) attending relevant industry conferences as appropriate; and (4) deploying sales team resources,
as needed, to target markets. The parties decided to terminate the Marketing Agreement to allow for the Sponsor to have increased
flexibility in the marketing of the Fund and the Teucrium Funds. As of October 1, 2011, the tasks previously performed by the Distributor
under the Marketing Agreement will be performed by the Sponsor and/or its designee, as may be determined by the Sponsor from time
to time, on behalf of the Fund and the Teucrium Funds.&nbsp;&nbsp;Neither the Sponsor nor the Trust incurred any material early
termination penalties in connection with the termination of the Marketing Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-right: 0; margin-left: 0">The Sponsor, the Trust,
and the Distributor are also parties to a Securities Activities and Services Agreement, as amended from time to time (the &ldquo;SASA&rdquo;),
pursuant to which certain employees and officers of the Sponsor are licensed as Registered Representatives or registered principals
of the Distributor under FINRA rules. Under the SASA, the Distributor receives compensation for its activities on behalf of the
Teucrium Funds which is estimated not to exceed an aggregate of $80,000 for the initial offering period, as well as certain expense
reimbursements relating to the registration, continuing education and other administrative expenses of the Registered Representatives
in relation to the Teucrium Funds, currently estimated at approximately $26,500 per year. The fees which will be paid to the Distributor
by the Fund per year, based on the SASA, are estimated not to exceed $3,500 per year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The offering of baskets is being made in compliance
with Conduct Rule 2310 of FINRA.&nbsp;&nbsp;Accordingly, Authorized Purchasers will not make any sales to any account over which
they have discretionary authority without the prior written approval of a purchaser of Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The per share price of Shares offered in Creation
Baskets on any day is the total NAV of the Fund calculated shortly after the close of the NYSE Arca on that day divided by the
number of issued and outstanding Shares.&nbsp;&nbsp;An Authorized Purchaser is not required to sell any specific number or dollar
amount of Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">By executing an Authorized Purchaser Agreement,
an Authorized Purchaser becomes part of the group of parties eligible to purchase baskets from, and put baskets for redemption
to, the Fund.&nbsp;&nbsp;An Authorized Purchaser is under no obligation to create or redeem baskets or to offer to the public Shares
of any baskets it does create. If an Authorized Purchaser sells Shares that it has created to the public, it will be expected to
sell them at per-Share offering prices that are expected to reflect, among other factors, the trading price of the Shares on the
NYSE Arca, the NAV of the Fund at the time the Authorized Purchaser purchased the Creation Baskets and the NAV at the time of the
offer of the Shares to the public, the supply of and demand for Shares at the time of sale, and the liquidity of the Wheat Interest
markets. The prices of Shares offered by Authorized Purchasers are expected to fall between the Fund&rsquo;s NAV and the trading
price of the Shares on the NYSE Arca at the time of sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The following entities have entered into
Authorized Purchaser Agreements with respect to the Fund: Citigroup Global Markets, Inc., Deutsche Bank Securities Inc., <FONT STYLE="text-underline-style: double; ">J.P.
Morgan Securities LLC,</FONT> <FONT STYLE="text-underline-style: double; "><U> </U></FONT> Merrill Lynch Professional
Clearing Corp., Newedge, Goldman Sachs &amp; Co., Goldman Sachs Execution &amp; Clearing, L.P., UBS Securities, LLC; RBC Capital
Markets, LLC, and Virtu Financial BD LLC. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Because new Shares can be created and issued
on an ongoing basis, at any point during the life of the Fund, a &ldquo;distribution,&rdquo; as such term is used in the 1933 Act,
will be occurring.&nbsp;&nbsp;Authorized Purchasers, other broker-dealers and other persons are cautioned that some of their activities
may result in their being deemed participants in a distribution in a manner that would render them statutory underwriters and subject
them to the prospectus-delivery and liability provisions of the 1933 Act.&nbsp;&nbsp;For example, an Authorized Purchaser, other
broker-dealer firm or its client will be deemed a statutory underwriter if it purchases a basket from the Fund,</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">breaks the basket down into the constituent Shares and sells the
Shares to its customers; or if it chooses to couple the creation of a supply of new Shares with an active selling effort involving
solicitation of secondary market demand for the Shares.&nbsp;&nbsp;In contrast, Authorized Purchasers may engage in secondary market
or other transactions in Shares that would not be deemed &ldquo;underwriting.&rdquo;&nbsp;&nbsp;For example, an Authorized Purchaser
may act in the capacity of a broker or dealer with respect to Shares that were previously distributed by other Authorized Purchasers.&nbsp;&nbsp;A
determination of whether a particular market participant is an underwriter must take into account all the facts and circumstances
pertaining to the activities of the broker-dealer or its client in the particular case, and the examples mentioned above should
not be considered a complete description of all the activities that would lead to designation as an underwriter and subject them
to the prospectus-delivery and liability provisions of the 1933 Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Dealers who are neither Authorized Purchasers
nor &ldquo;underwriters&rdquo; but are nonetheless participating in a distribution (as contrasted to ordinary secondary trading
transactions), and thus dealing with Shares that are part of an &ldquo;unsold allotment&rdquo; within the meaning of Section 4(3)(C)
of the 1933 Act, would be unable to take advantage of the prospectus-delivery exemption provided by Section 4(3) of the 1933 Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor expects that any broker-dealers
selling Shares will be members of FINRA.&nbsp;&nbsp;Investors intending to create or redeem baskets through Authorized Purchasers
in transactions not involving a broker-dealer registered in such investor&rsquo;s state of domicile or residence should consult
their legal advisor regarding applicable broker-dealer regulatory requirements under the state securities laws prior to such creation
or redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">While the Authorized Purchasers may be indemnified
by the Sponsor, they will not be entitled to receive a discount or commission from the Trust or the Sponsor for their purchases
of Creation Baskets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_042"></A>The Flow of Shares</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="chart60.gif" ALT="">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_043"></A>Calculating NAV</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund&rsquo;s NAV per Share is calculated
by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">taking the current market value of its total assets, and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">subtracting any liabilities and dividing the balance by the number of Shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Administrator calculates the NAV of the
Fund once each trading day.&nbsp;&nbsp;It calculates NAV as of the earlier of the close of the New York Stock Exchange or 4:00
p.m. New York time.&nbsp;&nbsp;The NAV for a particular trading day will is released after 4:15 p.m. New York time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> In determining the value of Wheat Futures
Contracts, the Administrator uses the CBOT closing price, except that the &ldquo;fair value&rdquo; of a Wheat Futures Contract
(as described in more detail below) may be used when Wheat Futures Contracts close at their price fluctuation limit for the day.&nbsp;&nbsp;The
Administrator determines the </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">value of all other Fund investments as of the earlier of the close
of the New York Stock Exchange or 4:00 p.m. New York time, in accordance with the current Services Agreement between the Administrator
and the Trust.&nbsp;&nbsp;The value of Cleared Wheat Swaps and over-the-counter Wheat Interests is determined based on the value
of the commodity or Futures Contract underlying such Wheat Interest, except that a fair value may be determined if the Sponsor
believes that the Fund is subject to significant credit risk relating to the counterparty to such Wheat Interest.&nbsp;&nbsp;Treasury
Securities held by the Fund are valued by the Administrator using values received from recognized third-party vendors (such as
Reuters) and dealer quotes.&nbsp;&nbsp;NAV includes any unrealized profit or loss on open Wheat Interests and any other credit
or debit accruing to the Fund but unpaid or not received by the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The fair value of a Wheat Interest shall be
determined by the Sponsor in good faith and in a manner that assesses the Wheat Interest&rsquo;s value based on a consideration
of all available facts and all available information on the valuation date.&nbsp;&nbsp;When a Wheat Futures Contract has closed
at its price fluctuation limit, the fair value determination attempts to estimate the price at which such Wheat Futures Contract
would be trading in the absence of the price fluctuation limit (either above such limit when an upward limit has been reached or
below such limit when a downward limit has been reached).&nbsp;&nbsp;Typically, this estimate will be made primarily by reference
to the price of comparable Wheat Interests trading in the over-the-counter market.&nbsp;&nbsp;The fair value of a Wheat Interest
may not reflect such security&rsquo;s market value or the amount that the Fund might reasonably expect to receive for the Wheat
Interest upon its current sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In addition, in order to provide updated information
relating to the Fund for use by investors and market professionals, NYSE Arca calculates and disseminates throughout the trading
day an updated &ldquo;indicative fund value.&rdquo;&nbsp;&nbsp;The indicative fund value is calculated by using the prior day&rsquo;s
closing NAV per share of the Fund as a base and updating that value throughout the trading day to reflect changes in the value
of the Fund&rsquo;s Wheat Interests during the trading day.&nbsp;&nbsp;Changes in the value of Treasury Securities and cash equivalents
are not included in the calculation of indicative value.&nbsp;&nbsp;For this and other reasons, the indicative fund value disseminated
during NYSE Arca trading hours should not be viewed as an actual real time update of the NAV.&nbsp;&nbsp;NAV is calculated only
once at the end of each trading day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"> The indicative
fund value is disseminated on a per Share basis every 15 seconds during regular NYSE Arca trading hours of 9:30 a.m. New York
time to 4:00 p.m. New York time. <B> </B>The normal trading hours for Wheat Futures Contracts on the CBOT are generally shorter
than those of the NYSE Arca. This means that there is a gap in time at the beginning and the end of each day during which the
Fund&rsquo;s Shares are traded on the NYSE Arca, but real-time CBOT trading prices for Wheat Futures Contracts traded on such
exchange are not available. As a result, during those gaps there is no update to the indicative fund value. The trading hours
for the CBOT can be found at <U>http://www.cmegroup.com/trading_hours/commodities-hours.html</U>. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The NYSE Arca disseminates the indicative fund
value through the facilities of CTA/CQ High Speed Lines.&nbsp;&nbsp;In addition, the indicative fund value is published on the
NYSE Arca&rsquo;s website and is available through on-line information services such as Bloomberg and Reuters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Dissemination of the indicative fund value
provides additional information that is not otherwise available to the public and is useful to investors and market professionals
in connection with the trading of Fund Shares on the NYSE Arca.&nbsp;&nbsp;Investors and market professionals are able throughout
the trading day to compare the market price of the Fund and the indicative fund value.&nbsp;&nbsp;If the market price of Fund Shares
diverges significantly from the indicative fund value, market professionals may have an incentive to execute arbitrage trades.&nbsp;&nbsp;For
example, if the Fund appears to be trading at a discount compared to the indicative fund value, a market professional could buy
Fund Shares on the NYSE Arca, aggregate them into Redemption Baskets, and receive the NAV of such Shares by redeeming them to the
Trust, provided that there is not a minimum number of shares outstanding for the Fund.&nbsp;&nbsp;Such arbitrage trades can tighten
the tracking between the market price of the Fund and the indicative fund value. </P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_044"></A>Creation and Redemption of Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund creates and redeems Shares from time
to time, but only in one or more Creation Baskets or Redemption Baskets.&nbsp;&nbsp;The creation and redemption of baskets are
only made in exchange for delivery to the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Fund or the distribution by the Fund of the amount of Treasury Securities,
cash and/or commodity futures equal to the combined NAV of the number of Shares included in the baskets being created or redeemed
determined as of 4:00 p.m. New York time on the day the order to create or redeem baskets is properly received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Authorized Purchasers are the only persons that
may place orders to create and redeem baskets.&nbsp;&nbsp;Authorized Purchasers must be (1) either registered broker-dealers or
other securities market participants, such as banks and other financial institutions, that are not required to register as broker-dealers
to engage in securities transactions as described below, and (2) DTC Participants. To become an Authorized Purchaser, a person
must enter into an Authorized Purchaser Agreement with the Sponsor.&nbsp;&nbsp;The Authorized Purchaser Agreement provides the
procedures for the creation and redemption of baskets and for the delivery of the Treasury Securities, cash, and/or commodity futures
required for such creations and redemptions.&nbsp;&nbsp;The Authorized Purchaser Agreement and the related procedures attached
thereto may be amended by the Sponsor without the consent of any Shareholder, and the related procedures may generally be amended
by the Sponsor without the consent of the Authorized Purchaser. As of March 5, 2012, Authorized Purchasers pay a transaction fee
of $250 to the Sponsor for each order they place to create one basket, with a maximum of $500 per order, and a fee of $250 per
basket when they redeem baskets.&nbsp;&nbsp;Authorized Purchasers who make deposits with the Fund in exchange for baskets receive
no fees, commissions or other form of compensation or inducement of any kind from either the Trust or the Sponsor, and no such
person will have any obligation or responsibility to the Trust or the Sponsor to effect any sale or resale of Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Certain Authorized Purchasers are expected to
be capable of participating directly in the physical wheat and the Wheat Interest markets.&nbsp;&nbsp;Some Authorized Purchasers
or their affiliates may from time to time buy or sell wheat or Wheat Interests and may profit in these instances.&nbsp;&nbsp;The
Sponsor believes that the size and operation of the wheat market make it unlikely that Authorized Purchasers&rsquo; direct activities
in the wheat or securities markets will significantly affect the price of wheat, Wheat Interests, or the Fund&rsquo;s Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Each Authorized Purchaser will be required to
be registered as a broker-dealer under the Exchange Act and a member in good standing with FINRA, or be exempt from being or otherwise
not required to be registered as a broker-dealer or a member of FINRA, and will be qualified to act as a broker or dealer in the
states or other jurisdictions where the nature of its business so requires.&nbsp;&nbsp;Certain Authorized Purchasers may also be
regulated under federal and state banking laws and regulations.&nbsp;&nbsp;Each Authorized Purchaser has its own set of rules and
procedures, internal controls and information barriers it deems appropriate in light of its own regulatory regime.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Under the Authorized Purchaser Agreement, the
Sponsor has agreed to indemnify the Authorized Purchasers against certain liabilities, including liabilities under the 1933 Act,
and to contribute to the payments the Authorized Purchasers may be required to make in respect of those liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following description of the procedures
for the creation and redemption of baskets is only a summary and an investor should refer to the relevant provisions of the Trust
Agreement and the form of Authorized Purchaser Agreement for more detail, each of which has been incorporated by reference as an
exhibit to the registration statement of which this prospectus is a part.&nbsp;&nbsp;See &ldquo;Where You Can Find More Information&rdquo;
for information about where you can obtain the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Creation Procedures</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On any business day, an Authorized Purchaser
may place an order with the transfer agent to create one or more baskets. For purposes of processing purchase and redemption orders,
a &ldquo;business day&rdquo; means any day other than a day when any of the NYSE Arca, the CBOT or the New York Stock Exchange
is closed for regular trading.&nbsp;&nbsp;Purchase orders must be placed by 1:15 p.m. New York time or the close of regular trading
on the New York Stock Exchange, whichever is earlier.&nbsp;&nbsp;The day on which the Distributor receives a valid purchase order
is referred to as the purchase order date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">By placing a purchase order, an Authorized Purchaser
agrees to deposit Treasury Securities, cash, commodity futures and/or a combination thereof with the Fund, as described below.&nbsp;&nbsp;Prior
to the delivery of baskets for a purchase order, the Authorized Purchaser must also have wired to the Sponsor the non-refundable</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">transaction fee due for the purchase order.&nbsp;&nbsp;Authorized
Purchasers may not withdraw a purchase order without the prior consent of the Sponsor in its discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Determination of Required Deposits</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The total deposit required to create each basket
(&ldquo;Creation Basket Deposit&rdquo;) is the amount of Treasury Securities, cash and/or commodity futures that is in the same
proportion to the total assets of the Fund (net of estimated accrued but unpaid fees, expenses and other liabilities) on the purchase
order date as the number of Shares to be created under the purchase order is in proportion to the total number of Shares outstanding
on the purchase order date.&nbsp;&nbsp;The Sponsor determines, directly in its sole discretion or in consultation with the Custodian,
the requirements for Treasury Securities cash and/or commodity futures, including the remaining maturities of the Treasury Securities
and proportions of Treasury Securities that may be included in deposits to create baskets.&nbsp;&nbsp;If Treasury Securities are
to be included in a Creation Basket Deposit for orders placed on a given business day, the Distributor will publish an estimate
of the Creation Basket Deposit requirements at the beginning of such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 45.5pt"><B><I>Delivery of Required Deposits</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">An Authorized Purchaser who places a purchase
order is responsible for transferring to the Fund&rsquo;s account with the Custodian the required amount of Treasury Securities,
cash and/or commodity futures by the end of the next business day following the purchase order date or by the end of such later
business day, not to exceed three business days after the purchase order date, as agreed to between the Authorized Purchaser and
the Custodian when the purchase order is placed (the &ldquo;Purchase Settlement Date&rdquo;).&nbsp;&nbsp;Upon receipt of the deposit
amount, the Custodian directs DTC to credit the number of baskets ordered to the Authorized Purchaser&rsquo;s DTC account on the
Purchase Settlement Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Because orders to purchase baskets must be placed
by 1:15 p.m., New York time, but the total payment required to create a basket during the continuous offering period will not be
determined until 4:00 p.m., New York time, on the date the purchase order is received, Authorized Purchasers will not know the
total amount of the payment required to create a basket at the time they submit an irrevocable purchase order for the basket.&nbsp;&nbsp;The
Fund&rsquo;s NAV and the total amount of the payment required to create a basket could rise or fall substantially between the time
an irrevocable purchase order is submitted and the time the amount of the purchase price in respect thereof is determined.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Rejection of Purchase Orders</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor acting by itself or through the
Distributor or Custodian may reject a purchase order or a Creation Basket Deposit if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">it determines that,
due to position limits or otherwise, investment alternatives that will enable the Fund to meet its investment objective are not
available or practicable at that time;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">it determines that the
purchase order or the Creation Basket Deposit is not in proper form;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">it believes that acceptance
of the purchase order or the Creation Basket Deposit would have adverse tax consequences to the Fund or its Shareholders;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the acceptance or receipt
of the Creation Basket Deposit would, in the opinion of counsel to the Sponsor, be unlawful;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">circumstances outside
the control of the Sponsor, Distributor or Custodian make it, for all practical purposes, not feasible to process creations of
baskets;</FONT></TD>
</TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">there is a possibility
that any or all of the Benchmark Component Futures Contracts of the Fund on the CBOT from which the NAV of the Fund is calculated
will be priced at a daily price limit restriction; or</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">if, in the sole discretion
of the Sponsor, the execution of such an order would not be in the best interest of the Fund or its Shareholders.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">None of the Sponsor, Distributor or Custodian
will be liable for the rejection of any purchase order or Creation Basket Deposit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Redemption Procedures</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The procedures by which an Authorized Purchaser
can redeem one or more baskets mirror the procedures for the creation of baskets.&nbsp;&nbsp;On any business day, an Authorized
Purchaser may place an order with the transfer agent to redeem one or more baskets. Redemption orders must be placed by 1:15 p.m.
New York time or the close of regular trading on the New York Stock Exchange, whichever is earlier.&nbsp;&nbsp;A redemption order
so received will be effective on the date it is received in satisfactory form by the Distributor.&nbsp;&nbsp;The redemption procedures
allow Authorized Purchasers to redeem baskets and do not entitle an individual Shareholder to redeem any Shares in an amount less
than a Redemption Basket, or to redeem baskets other than through an Authorized Purchaser.&nbsp;&nbsp;By placing a redemption order,
an Authorized Purchaser agrees to deliver the baskets to be redeemed through DTC&rsquo;s book-entry system to the Fund by the end
of the next business day following the effective date of the redemption order or by the end of such later business day, not to
exceed three business days after the effective date of the redemption order, as agreed to between the Authorized Purchaser and
the transfer agent when the redemption order is placed (the &ldquo;Redemption Settlement Date&rdquo;).&nbsp;&nbsp;Prior to the
delivery of the redemption distribution for a redemption order, the Authorized Purchaser must also have wired to the Sponsor&rsquo;s
account at the Custodian the non-refundable transaction fee due for the redemption order.&nbsp;&nbsp;An Authorized Purchaser may
not withdraw a redemption order without the prior consent of the Sponsor in its discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Determination of Redemption Distribution</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The redemption distribution from the Fund consists
of a transfer to the redeeming Authorized Purchaser of an amount of Treasury Securities, cash and/or commodity futures that is
in the same proportion to the total assets of the Fund (net of estimated accrued but unpaid fees, expenses and other liabilities)
on the date the order to redeem is properly received as the number of Shares to be redeemed under the redemption order is in proportion
to the total number of Shares outstanding on the date the order is received. The Sponsor, directly or in consultation with the
Custodian, determines the requirements for Treasury Securities, cash and/or commodity futures including the remaining maturities
of the Treasury Securities and proportions of Treasury Securities and cash that may be included in distributions to redeem baskets.
If Treasury Securities are to be included in a redemption distribution for orders placed on a given business day, the Custodian
will publish an estimate of the redemption distribution composition as of the beginning of such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Delivery of Redemption Distribution</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The redemption distribution due from the Fund
will be delivered to the Authorized Purchaser on the Redemption Settlement Date if the Fund&rsquo;s DTC account has been credited
with the baskets to be redeemed.&nbsp;&nbsp;If the Fund&rsquo;s DTC account has not been credited with all of the baskets to be
redeemed by the end of such date, the redemption distribution will be delivered to the extent of whole baskets received.&nbsp;&nbsp;Any
remainder of the redemption distribution will be delivered on the next business day after the Redemption Settlement Date to the
extent of remaining whole baskets received if the Sponsor receives the fee applicable to the extension of the Redemption Settlement
Date which the Sponsor may, from time to time, determine and the remaining baskets to be redeemed are credited to the Fund&rsquo;s
DTC account on such next business day.&nbsp;&nbsp;Any further outstanding amount of the redemption order shall be cancelled.&nbsp;&nbsp;Pursuant
to information from the Sponsor, the Custodian will also be authorized to deliver the redemption distribution notwithstanding that
the baskets to be redeemed are not credited to the Fund&rsquo;s DTC account by 1:15 p.m. New York time on the Redemption Settlement
Date if the Authorized Purchaser has collateralized its obligation to deliver the baskets through DTC&rsquo;s book entry-system
on such terms as the Sponsor may from time to time determine.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Suspension or Rejection of Redemption
Orders</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor may, in its discretion, suspend
the right of redemption, or postpone the redemption settlement date, (1) for any period during which the NYSE Arca or CBOT is closed
other than customary weekend or holiday closings, or trading on the NYSE Arca or CBOT is suspended or restricted, (2) for any period
during which an emergency exists as a result of which delivery, disposal or evaluation of Treasury Securities is not reasonably
practicable, (3) for such other period as the Sponsor determines to be necessary for the protection of the Shareholders, (4) if
there is a possibility that any or all of the Benchmark Component Futures Contracts of the Fund on the CBOT from which the NAV
of the Fund is calculated will be priced at a daily price limit restriction, or (5) if, in the sole discretion of the Sponsor,
the execution of such an order would not be in the best interest of the Fund or its Shareholders. For example, the Sponsor may
determine that it is necessary to suspend redemptions to allow for the orderly liquidation of the Fund&rsquo;s assets at an appropriate
value to fund a redemption.&nbsp;&nbsp;If the Sponsor has difficulty liquidating the Fund&rsquo;s positions, e.g., because of a
market disruption event in the futures markets or an unanticipated delay in the liquidation of a position in an over-the-counter
contract, it may be appropriate to suspend redemptions until such time as such circumstances are rectified. None of the Sponsor,
the Distributor, or the Custodian will be liable to any person or in any way for any loss or damages that may result from any such
suspension or postponement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Redemption orders must be made in whole baskets.
The Sponsor will reject a redemption order if the order is not in proper form as described in the Authorized Purchaser Agreement
or if the fulfillment of the order, in the opinion of its counsel, might be unlawful.&nbsp;&nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Sponsor may also reject a redemption
order if the number of Shares being redeemed would reduce the remaining outstanding Shares to 50,000 Shares (i.e., two baskets
of 25,000 Shares each) or less, unless the Sponsor has reason to believe that the placer of the redemption order does in fact possess
all the outstanding Shares of the Fund and can deliver them. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Creation and Redemption Transaction Fees</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">To compensate the Sponsor for its expenses in
connection with the creation and redemption of baskets, an Authorized Purchaser is required to pay a transaction fee to the Sponsor
of $250 per basket with a maximum of $500 per order. In addition, an Authorized Purchaser is required to pay a transaction fee
to the Sponsor of $250 per basket redeemed.&nbsp;&nbsp;The transaction fees may be reduced, increased or otherwise changed by the
Sponsor.&nbsp;&nbsp;The Sponsor shall notify DTC of any change in a transaction fee and will not implement any increase in the
fee for the redemption of baskets until 30 days after the date of the notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Tax Responsibility</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Authorized Purchasers are responsible for any
transfer tax, sales or use tax, stamp tax, recording tax, value added tax or similar tax or governmental charge applicable to the
creation or redemption of baskets, regardless of whether or not such tax or charge is imposed directly on the Authorized Purchaser,
and agree to indemnify the Sponsor and the Fund if they are required by law to pay any such tax, together with any applicable penalties,
additions to tax and interest thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_045"></A>Secondary Market Transactions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As noted, the Fund will create and redeem Shares
from time to time, but only in one or more Creation Baskets or Redemption Baskets.&nbsp;&nbsp;The creation and redemption of baskets
are only made in exchange for delivery to the Fund or the distribution by the Fund of the amount of Treasury Securities, cash and/or
commodity futures equal to the aggregate NAV of the number of Shares included in the baskets being created or redeemed determined
on the day the order to create or redeem baskets is properly received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As discussed above, Authorized Purchasers are
the only persons that may place orders to create and redeem baskets.&nbsp;&nbsp;Authorized Purchasers must be registered broker-dealers
or other securities market participants, such as banks and other financial institutions that are not required to register as broker-dealers
to </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> engage in securities transactions.&nbsp;&nbsp;An Authorized Purchaser
is under no obligation to create or redeem baskets, and an Authorized Purchaser is under no obligation to offer to the public Shares
of any baskets it does create.&nbsp;&nbsp;Authorized Purchasers that do offer to the public Shares from the baskets they create
will do so at per-Share offering prices that are expected to reflect, among other factors, the trading price of the Shares on the
NYSE Arca, the NAV of the Shares at the time the Authorized Purchaser purchased the Creation Baskets, the NAV of the Shares at
the time of the offer of the Shares to the public, the supply of and demand for Shares at the time of sale, and the liquidity of
the Wheat Interest markets.&nbsp;&nbsp;The prices of Shares offered by Authorized Purchasers are expected to fall between the Fund&rsquo;s
NAV and the trading price of the Shares on the NYSE Arca at the time of sale.&nbsp;&nbsp;Shares initially comprising the same basket
but offered by Authorized Purchasers to the public at different times may have different offering prices.&nbsp;&nbsp;An order for
one or more baskets may be placed by an Authorized Purchaser on behalf of multiple clients.&nbsp;&nbsp;Shares are expected to trade
in the secondary market on the NYSE Arca.&nbsp;&nbsp;Shares may trade in the secondary market at prices that are lower or higher
relative to their NAV per Share.&nbsp;&nbsp;The amount of the discount or premium in the trading price relative to the NAV per
Share may be influenced by various factors, including the number of investors who seek to purchase or sell Shares in the secondary
market and the liquidity of the Wheat Interest markets.&nbsp;&nbsp;While the Shares trade on the NYSE Arca until 4:00 p.m. New
York time, liquidity in the markets for Wheat Interests may be reduced after the close of the CBOT. As a result, during this time,
trading spreads, and the resulting premium or discount, on the Shares may widen. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_069"></A>Use of Proceeds</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor causes the Fund to transfer the
proceeds of the sale of Creation Baskets to the Custodian or another custodian for use in trading activities.&nbsp;&nbsp;The Sponsor
invests the Fund&rsquo;s assets in Wheat Futures Contracts, Cleared Wheat Swaps and Other Wheat Interests, short-term Treasury
Securities, cash and cash equivalents.&nbsp;&nbsp;When the Fund purchases Wheat Futures Contracts and certain Other Wheat Interests
that are exchange-traded, the Fund is required to deposit with the FCM on behalf of the exchange a portion of the value of the
contract or other interest as security to ensure payment for the obligation under the Wheat Interests at maturity.&nbsp;&nbsp;This
deposit is known as initial margin.&nbsp;&nbsp;Counterparties in transactions in Cleared Wheat Swaps and over-the-counter Wheat
Interests will generally impose similar collateral requirements on the Fund.&nbsp;&nbsp;The Sponsor invests the Fund&rsquo;s assets
that remain after margin and collateral is posted in short-term Treasury Securities, cash and/or cash equivalents.&nbsp;&nbsp;Subject
to these margin and collateral requirements, the Sponsor has sole authority to determine the percentage of assets that will be:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 48pt; text-indent: -0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">held as margin or collateral with FCM or other custodians;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 48pt; text-indent: -0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">used for other investments; and</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 48pt; text-indent: -0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">held in bank accounts to pay current obligations and as reserves.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> In general, the Fund expects that it will
be required to post approximately 10% of the notional amount of a Wheat Interest as initial margin when entering into such Wheat
Interest.&nbsp;&nbsp;Ongoing margin and collateral payments will generally be required for both exchange-traded and over-the-counter
Wheat Interests based on changes in the value of the Wheat Interests.&nbsp;&nbsp;Furthermore, ongoing collateral requirements with
respect to over-the-counter Wheat Interests are negotiated by the parties, and may be affected by overall market volatility, volatility
of the underlying commodity or index, the ability of the counterparty to hedge its exposure under the Wheat Interest, and each
party&rsquo;s creditworthiness.&nbsp;&nbsp;In light of the differing requirements for initial payments under exchange-traded and
over-the-counter Wheat Interests and the fluctuating nature of ongoing margin and collateral payments, it is not possible to estimate
what portion of the Fund&rsquo;s assets will be posted as margin or collateral at any given time.&nbsp;&nbsp;The Treasury Securities,
cash and cash equivalents held by the Fund constitute reserves that are available to meet ongoing margin and collateral requirements.&nbsp;&nbsp;All
interest income is used for the Fund&rsquo;s benefit. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A FCM, counterparty, government agency or commodity
exchange could increase margin or collateral requirements applicable to the Fund to hold trading positions at any time.&nbsp;&nbsp;Moreover,
margin is merely a security deposit and has no bearing on the profit or loss potential for any positions held.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund&rsquo;s assets are held in segregation
pursuant to the CEA and CFTC regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_046"></A>Management&rsquo;s Discussion and Analysis of Financial Condition
and Results of Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Critical Accounting Policies</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Preparation of the financial statements
and related disclosures in compliance with United States generally accepted accounting principles (&ldquo;GAAP&rdquo;) requires
the application of appropriate accounting rules and guidance, as well as the use of estimates, and requires management to make
estimates and assumptions that affect the reported amounts of assets and liabilities, revenue, and expense and related disclosure
of contingent assets and liabilities during the reporting period of the financial statements and accompanying notes. The Trust&rsquo;s
application of these policies involves judgments, and actual results may differ from the estimates used.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">The Sponsor has determined
that the valuation of Commodity Interests that are not traded on a U.S. or internationally recognized futures exchange (such as
swaps and other over-the-counter contracts) involves a critical accounting policy.&nbsp;&nbsp;The values which are used by the
Funds for futures contracts will be provided by the commodity broker who will use market prices when available, while over-the-counter
contracts will be valued based on the present value of estimated future cash flows that would be received from or paid to a third
party in settlement of these derivative contracts prior to their delivery date.<B>&nbsp;</B> Values will be determined on a daily
basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Commodity futures contracts
held by the Fund are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to
market daily. Unrealized appreciation or depreciation on commodity futures contracts are reflected in the statement of operations
as the difference between the original contract amount and the fair market value as of the last business day of the year or as
of the last date of the financial statements. Changes in the appreciation or depreciation between periods are reflected in the
statement of operations. Interest on cash equivalents and deposits with the FCM are recognized on the accrual basis. The Fund earns
interest on its assets denominated in U.S. dollars on deposit with the FCM at a rate equal to 85% of the overnight of Federal Funds
Rate. In addition, the Fund earns interest on funds held at the custodian at prevailing market rates for such investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Cash equivalents are highly-liquid
investments with original maturity dates of three months or less at inception. The Fund reports cash equivalents in the statements
of assets and liabilities at market value, or at carrying amounts that approximate fair value, because of their highly-liquid nature
and short-term maturities. The Fund has a substantial portion of its assets on deposit with banks. Assets deposited with the bank
may, at times, exceed federally insured limits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The use of fair value to
measure financial instruments, with related unrealized gains or losses recognized in earnings in each period is fundamental to
the Trust&rsquo;s financial statements. In accordance with GAAP, fair value is defined as the price that would be received to sell
an asset or paid to transfer a liability (i.e., the &ldquo;exit price&rdquo;) in an orderly transaction between market participants
at the measurement date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In determining fair value,
the Trust uses various valuation approaches. In accordance with GAAP, a fair value hierarchy for inputs is used in measuring fair
value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable
inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability
based on market data obtained from sources independent of the Trust. Unobservable inputs reflect the Trust&rsquo;s assumptions
about the inputs market participants would use in pricing the asset or liability developed based on the best information available
in the circumstances. The fair value hierarchy is categorized into three levels: a) <I>Level 1</I> - Valuations based on unadjusted
quoted prices in active markets for identical assets or liabilities that the Trust has the ability to access. Valuation adjustments
and block discounts are not applied to Level 1 securities. Since valuations are based on quoted prices that are readily and regularly
available in an active market, valuation of these securities does not entail a significant degree of judgment, b) <I>Level 2</I>
- Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly
or indirectly, and c) <I>Level 3 -</I> Valuations based on inputs that are unobservable and significant to the overall fair value
measurement. See the notes within the financial statements for further information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Fund and the Trust
record their derivative activities at fair value. Gains and losses from derivative contracts are included in the statement of operations.
Derivative contracts include futures contracts related to commodity prices. Futures, which are listed on a national securities
exchange, such as the CBOT or reported on another national market, are generally categorized in Level 1 of the fair value hierarchy.
OTC derivatives contracts (such as forward and swap contracts) which may be valued using models, depending on whether significant
inputs are observable or unobservable, are categorized in Levels 2 or 3 of the fair value hierarchy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">Brokerage commissions on all open
commodity futures contracts are accrued on a full-turn basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">Margin is the minimum
amount of funds that must be deposited by a commodity interest trader with the trader&rsquo;s broker to initiate and maintain an
open position in futures contracts. A margin deposit acts to assure the trader&rsquo;s performance of the futures contracts purchased
or sold. Futures contracts are customarily bought and sold on initial margin that represents a very small percentage of the aggregate
purchase or sales price of the contract. Because of such low margin requirements, price fluctuations occurring in the futures markets
may create profits and losses that, in relation to the amount invested, are greater than are customary in other forms of investment
or speculation. As discussed below, adverse price changes in the futures contract may result in margin requirements that greatly
exceed the initial margin. In addition, the amount of margin required in connection with a particular futures contract is set from
time to time by the exchange on which the contract is traded and may be modified from time to time by the exchange during the term
of the contract. Brokerage firms, such as the Funds&rsquo; clearing brokers, carrying accounts for traders in commodity interest
contracts generally require higher amounts of margin as a matter of policy to further protect themselves. Over-the-counter trading
generally involves the extension of credit between counterparties, so the counterparties may agree to require the posting of collateral
by one or both parties to address credit exposure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.25pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">When a trader purchases
an option, there is no margin requirement; however, the option premium must be paid in full. When a trader sells an option, on
the other hand, he or she is required to deposit margin in an amount determined by the margin requirements established for the
underlying interest and, in addition, an amount substantially equal to the current premium for the option. The margin requirements
imposed on the selling of options, although adjusted to reflect the probability that out-of-the-money options will not be exercised,
can in fact be higher than those imposed in dealing in the futures markets directly. Complicated margin requirements apply to spreads
and conversions, which are complex trading strategies in which a trader acquires a mixture of options positions and positions in
the underlying interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 38.25pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Ongoing or &ldquo;maintenance&rdquo;
margin requirements are computed each day by a trader&rsquo;s clearing broker. When the market value of a particular open futures
contract changes to a point where the margin on deposit does not satisfy maintenance margin requirements, a margin call is made
by the broker. If the margin call is not met within a reasonable time, the broker may close out the trader&rsquo;s position. With
respect to the Funds&rsquo; trading, the Funds (and not its shareholders personally) are subject to margin calls.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 38.25pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">For tax purposes, the Funds
will be treated as partnerships. &nbsp;Therefore, the Funds do not record a provision for income taxes because the partners report
their share of a Fund&rsquo;s income or loss on their income tax returns.&nbsp; The financial statements reflect the Funds&rsquo;
transactions without adjustment, if any, required for income tax purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Results of Operations</I></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Teucrium Wheat Fund commenced investment
operations on September 19, 2011. The investment objective of the Fund is to have the daily changes in percentage terms of the
Shares&rsquo; Net Asset Value reflect the daily changes in percentage terms of a weighted average of the closing settlement prices
for three futures contracts for wheat (&ldquo;Wheat Futures Contracts&rdquo;) that are traded on the Chicago Board of Trade (&ldquo;CBOT&rdquo;),
specifically: (1) the second-to-expire CBOT Wheat Futures Contract, weighted 35%, (2) the third-to-expire CBOT Wheat Futures Contract,
weighted 30%, and (3) the CBOT Wheat Futures Contract expiring in the December following the expiration month of the third-to-expire
contract, weighted 35%. On December 31, 2013, the Fund held a total of 227 CBOT wheat futures contracts with a notional value of
$7,072,313. These contracts had a liability fair value of $698,675. The weighting of the notional value of the contracts was </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> weighted as follows: (1) 35% to the May 2014 CBOT contracts,
(2) 30% to the July 2014 CBOT contracts, and (3) 35% to the December 2014 CBOT contracts. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The benchmark for the Fund is the Teucrium
Wheat Index (TWEAT) which is defined as: A weighted average of daily changes in the closing settlement prices of (1) the second-to-expire
Wheat Futures Contract traded on the CBOT, weighted 35%, (2) the third-to-expire CBOT Wheat Futures Contract, weighted 30%, and
(3) the CBOT Wheat Futures Contract expiring in the December following the expiration month of third-to-expire contract, weighted
35%. To convert to an index, 100 is set to $25, the opening day price of WEAT<I>. </I>The chart below shows the percent change
in the NAV per share for the Fund, the market price of the Fund shares, represented by the closing price of the Fund on the NYSE
Arca or the mid-point of the 4 pm bid and ask if no closing price is available, and TWEAT for two periods. One period is December
31, 2013 compared to December 31, 2012. The second period is from the commencement of operations to December 31, 2013. The Benchmark
does not reflect any impact of expenses, which would generally reduce the Fund&rsquo;s NAV, or interest income, which would generally
increase the NAV. The actual results for the NAV do include the impacts of both expenses and interest income. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>Period</B></FONT> </TD>
    <TD STYLE="width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Change in <BR>
WEAT NAV per share</B></FONT> </TD>
    <TD STYLE="width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Change in <BR>
Market Price</B></FONT> </TD>
    <TD STYLE="width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Change in the <BR>
Benchmark (TWEAT)</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">December 31, 2012 to December 31, 2013</FONT> </TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">-30.18%</FONT> </TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">-30.82%</FONT> </TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">-26.07%</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">September 19, 2011 to December 31, 2013</FONT> </TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">-39.42%</FONT> </TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">-40.69%</FONT> </TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">-27.99%</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><U> For the Year Ended December 31, 2013 Compared
to the Years Ended December 31, 2012 and 2011 </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> On December 31, 2013, the Fund had 475,004
shares outstanding with net assets of $7,048,087. As of December 31, 2012, the Fund had 175,004 shares outstanding with net assets
of $3,719,209. On December 31, 2011, the Fund had 100,004 shares outstanding and net assets of $2,235,888. The increase in shares
from 2012 to 2013 was 300,000 or 171.4% and is, in management&rsquo;s opinion, a reflection of increased investor awareness of
the Fund as an investment vehicle in the underlying commodity. The increase in shares outstanding was 75,000 shares and 75% from
2011 to 2012, and represented, in management&rsquo;s opinion, an increased focus by investors on the grain markets given the recent
drought in the Midwest region of the United States and the recognition of the demand/supply condition for wheat across the globe.
In 2013 the Fund redeemed 100,000 shares and issued 400,000 as part of creation and redemption baskets. In 2012 the Fund redeemed
200,000 shares and issued 275,000 as part of creation and redemption baskets. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Total net assets for the Fund were $7,048,087
on December 31, 2013, $3,719,209 on December 31, 2012 and $2,235,888 on December 31, 2011. The Net Asset Values (&ldquo;NAV&rdquo;)
per share related to these balances were $14.84, $21.25 and $22.36 respectively. This represents an increase in total net assets
for the year ending December 31, 2013 versus 2012 of 89.5% driven by an increase in the number of shares partially offset by a
decrease in the price of the underlying commodity; for 2012 versus 2011, the increase in total net assets was 66.3% for the same
reason. The NAV per share decreased by $6.41 or 30.2% from 2012 to 2013 and by $1.11 or 5% from 2011 to 2012. On December 31, the
closing price on the NYSE Arca was $14.75 in 2013, $21.32 in 2012 and $22.40 in 2011. The change was a decrease of 30.1% from December
31, 2013 over 2012 and 4.8% for 2012 over 2011. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Total loss for the year ended December 31,
2013 was ($2,058,821) resulting primarily from a realized loss of ($1,554,250) and the net change in unrealized depreciation on
commodity futures contracts totaling ($507,587). Total loss was ($94,917) in 2012 and ($244,878) in 2011. Realized gain or loss
on trading of commodity futures contracts is a function of: 1) the change in the price of the particular contracts sold as part
of a &ldquo;roll&rdquo; in contracts as the nearest to expire contracts are exchanged for the appropriate contact given the investment
objective of the fund, 2) the change in the price of particular contracts sold in relation to redemption of shares, 3) the gain
or loss associated with rebalancing trades which are made to ensure conformance to the benchmark and 4) the number of contracts
held and then sold for either circumstance aforementioned. </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Unrealized gain or loss on trading of commodity futures contracts
is a function of the change in the price of contracts held on the final date of the period versus the purchase price for each contract
and the number of contracts held in each contract month. The Sponsor has a static benchmark as described above and trades futures
contracts to adhere to that benchmark and to adjust for the creation or redemption of shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Total expenses for the year ended December
31, 2013 were $388,757, with $66,302 attributable to payment of the management fee to the Sponsor, representing 17.1% of expenses.
For 2012, total expenses were $345,345, with $32,754 or 9.5% in management fees. In 2011, total expenses were $19,334 from the
commencement of operations until the end of the year, with the management fee to the Sponsor of $4,998 representing 25.9% of total
expense. The management fee is calculated at an annual rate of 1% of the Fund&rsquo;s daily average net assets. The increase in
total expenses for 2013 when compared to 2012 of $43,412 or 12.6% represents a reduction in overall Sponsor expenses offset by
an increased allocation to WEAT as a result of a higher net assets compared to other funds of the Sponsor. The increase in expenses
from 2012 to 2011 of $326,011 was a combination of a full year of operation compared to the truncated period in 2011, higher assets
under management relative to the other Funds managed by the Sponsor, which resulted in a larger percentage of expenses allocated
to the Fund, fewer expenses paid by the Sponsor, offset partially by renegotiated contracts on behalf of the Fund. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The amounts attributable to distribution
and marketing fees were $138,379 in 2013 and $140,076 in 2012. The expenses in this category represent 35.6% of total expenses
in 2013 and 40.1% in 2012. The amounts attributable to professional fees were $117,713 in 2013 and $56,854 in 2012. This represents
30.3% of total expenses in 2013 and 16.5% in 2012. The professional fees were primarily paid to the independent auditor of the
Fund and for the preparation and distribution of shareholder tax statements. Fees paid to the custodian and administrator were
$7,473 in 2013 and $74,290 in 2012. This represented 1.9% of total Fund expenses for 2013 and 21.5% in 2012. The decrease in this
category was the result of renegotiated contracts. General and administrative expenses were $26,537 in 2013 and $25,358 in 2012.
This represented 6.8% of total Fund expenses for 2013 and 7.3% in 2012. Brokerage fees and commissions for the trading of Futures
Contracts totaled $4,300 in 2013 and $3,534 for 2012. This represented 1.1% of total expenses in 2013 and 1.0% in 2012. The increase
in 2013 over 2012 expenses resulted from more contracts held due to higher assets under management. Other than the management fee
payable to the Sponsor and the brokerage commissions, most of the expenses incurred by the Fund are associated with the day-to-day
operation of the Fund and the necessary functions related to regulatory compliance. These are generally based on contracts, which
extend for some period of time and have commitments regardless of the level of assets under management. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> For the year ended December 31, 2012, there
was also approximately $560,000 of expenses recorded on the financial statements of the Sponsor which were subject to reimbursement
by the Fund in 2013. The Sponsor had not determined, as of December 31, 2012, if it would seek such reimbursement and, as such,
due to the uncertainty of this reimbursement, the financial statements of the Fund did not reflect an adjustment for this amount.
As of December 31, 2013, the Sponsor had been reimbursed by WEAT, a total of $51,500 of the $560,000; the Sponsor will not seek
reimbursement in 2014 for any residual balance which is deemed attributable to the operation of the Fund. For the year ended December
31, 2013, there is approximately $590,000 of expenses recorded on the financial statements of the Sponsor which is subject to reimbursement
by the Funds in 2014. The Sponsor has not yet determined if it will seek such reimbursement and, as such, due to the uncertainty
of this reimbursement, the financial statements of the Trust and the Funds do not reflect an adjustment for this amount. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The structure of the Fund and the nature
of the expenses are such that as total net assets grow, there is a scalability of expenses that may allow the total expense ratio
to be reduced. However, if total net assets for the Fund fall, the total expense ratio of the Fund will increase unless additional
reductions are made by the Sponsor to the daily expense accrual. The Sponsor can elect to adjust the daily expense accruals at
its discretion. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Sponsor has the ability to elect to pay
certain expenses on behalf of the Fund or waive the management fee. This election is subject to change by the Sponsor, at its discretion.
For the years-ended December 31, 2013, 2012, and 2011, there were approximately $0, $0 and $1,200 respectively of management fees
waived by the Sponsor. For the years-ended December 31, 2013, 2012, and 2011, there were approximately </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> $5,600, $36,500 and $25,000 respectively of expenses which generally
would have been paid by the Fund but were waived by the Sponsor </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Net cash used in the Fund&rsquo;s operating
activities during the period was ($2,681,723) in 2013, ($588,701) in 2012 and $ (478,076) in 2011. In 2013, proceeds from the sale
of shares were $7,532,514 while payments for the redemption of shares were $1,756,058. In 2012, proceeds from the sale of shares
were $6,071,303 while payments for the redemption of shares were $4,147,720. For 2011, proceeds from the sale of Shares of the
Fund were $2,500,000 with no payments for the redemption of Shares of the Fund. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Benchmark Performance</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As noted above, the Sponsor endeavors to place
the Fund&rsquo;s trades in Wheat Interests and otherwise manage the Fund&rsquo;s investments so that the Fund&rsquo;s average daily
tracking error against the Benchmark will be less than 10 percent over any period of 30 trading days. More specifically, the Sponsor
will endeavor to manage the Fund so that A will be within plus/minus 10 percent of B, where:<BR>
<BR>
</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 58pt; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">A is the average daily change in the Fund&rsquo;s NAV
for any period of 30 successive valuation days, i.e., any trading day as of which the Fund calculates its NAV, and</FONT></TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 58pt; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">B is the average daily change in the Benchmark over
the same period.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> During the period from January 1, 2013 through December 31, 2013,
the average daily change in the Fund&rsquo;s NAV was within plus/minus 10 percent of the average daily change in the Fund&rsquo;s
Benchmark. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Liquidity and Capital Resources</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">All of the Fund&rsquo;s source of capital
is derived from the offering of Shares to Authorized Purchasers. Authorized Purchasers may then subsequently redeem such Shares.
The Fund in turn allocates its net assets to commodities trading. A significant portion of the net asset value is held in Treasury
Securities and cash and cash equivalents, which is used as margin for the Fund&rsquo;s trading in commodities. The percentage that
Treasury Securities bear to the total net assets will vary from period to period as the market values of the Fund&rsquo;s Wheat
Interests change. The balance of the net assets is held in the Fund&rsquo;s commodity trading account. Interest earned on interest-bearing
assets of the Fund is paid to the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The investments of the Fund in Wheat Interests
may be subject to periods of illiquidity because of market conditions, regulatory considerations and other reasons.&nbsp;&nbsp;For
example, the CBOT limits the fluctuations in Wheat Futures Contract prices during a single day by regulations referred to as &ldquo;daily
limits.&rdquo;&nbsp;&nbsp;During a single day, no trades may be executed at prices beyond the daily limit.&nbsp;&nbsp;Once the
price of a Wheat Futures Contract has increased or decreased by an amount equal to the daily limit, positions in the contracts
can neither be taken nor liquidated unless the traders are willing to effect trades at or within the limit.&nbsp;&nbsp;Such market
conditions could prevent the Fund from promptly liquidating a position in Wheat Futures Contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Market Risk</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Trading in Wheat Interests such as Wheat Futures
Contracts involves the Fund entering into contractual commitments to purchase or sell specific amounts of wheat at a specified
date in the future. The gross or face amount of the contracts significantly exceeds the future cash requirements of the Fund since
the Fund typically closes out any open positions prior to the contractual expiration date. As a result, the Fund&rsquo;s market
risk is the risk of loss arising from the decline in value of the contracts, not from the need to make delivery under the contracts.
The Fund considers the &ldquo;fair value&rdquo; of derivative instruments to be the unrealized gain or loss on the contracts. The
market risk associated with the commitment by the Fund to purchase a specific commodity is limited to the aggregate face amount
of the contracts held.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The exposure of the Fund to market risk depends
on a number of factors including the markets for wheat, the volatility of interest rates and foreign exchange rates, the liquidity
of the Wheat Interest markets and the relationships among the contracts held by the Fund. The limited experience of the Sponsor
trading Wheat</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Interests in a manner that tracks changes in the Benchmark<B>,</B>
as well as drastic market events, could ultimately lead to substantial losses for the Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Credit Risk</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">When the Fund enters into Wheat Interests, it
is exposed to the credit risk that the counterparty will not be able to meet its obligations. For purposes of credit risk, the
counterparty for the Wheat Futures Contracts traded on the CBOT and for and Cleared Wheat Swaps is the clearinghouse associated
with the CBOT. In general, clearinghouses are backed by their members who may be required to share in the financial burden resulting
from the nonperformance of one of their members, which should significantly reduce credit risk. Some foreign exchanges are not
backed by their clearinghouse members but may be backed by a consortium of banks or other financial institutions. Unlike in the
case of exchange-traded futures contracts, the counterparty to an over-the-counter Wheat Interest contract is generally a single
bank or other financial institution.&nbsp;&nbsp;As a result, there is greater counterparty credit risk in over-the-counter transactions.
There can be no assurance that any counterparty, clearing house, or their financial backers will satisfy their obligations to the
Fund.</P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in"> The Fund may engage in off exchange
transactions broadly called an &ldquo;exchange for risk&rdquo; transaction, also referred to as an &ldquo;exchange for swap.&rdquo;
For purposes of the Dodd-Frank Act and related CFTC rules, an &ldquo;exchange for risk&rdquo; transaction is treated as a &ldquo;swap.&rdquo;
An &ldquo;exchange for risk&rdquo; transaction, sometimes referred to as an &ldquo;exchange for swap&rdquo; or &ldquo;exchange
of futures for risk,&rdquo; is a privately negotiated and simultaneous exchange of a futures contract position for a swap or other
over-the-counter instrument on the corresponding commodity. An exchange for risk transaction can be used by the Fund as a technique
to avoid taking physical delivery of a commodity futures contract, wheat for example, in that a counterparty will take the Fund&rsquo;s
position in a Wheat Futures Contract into its own account in exchange for a swap that does not by its terms call for physical delivery.
The Fund will become subject to the credit risk of a counterparty when it acquires an over-the-counter position in an exchange
for risk transaction. The Fund may use an &ldquo;exchange for risk&rdquo; transaction in connection with the creation and redemption
of shares. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> &nbsp;The Sponsor attempts to manage
the credit risk of the Fund by following certain trading limitations and policies.&nbsp;&nbsp;In particular, the Fund intends to
post margin and collateral and/or hold liquid assets that will be equal to approximately the face amount of the Wheat Interests
it holds. The Sponsor has implemented procedures that include, but are not limited to, executing and clearing trades and entering
into over-the-counter transactions only with parties it deems creditworthy and/or requiring the posting of collateral by such parties
for the benefit of the Fund to limit its credit exposure. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Off Balance Sheet Financing</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As of the date of this prospectus, neither the
Trust nor the Fund has any loan guarantees, credit support or other off-balance sheet arrangements of any kind other than agreements
entered into in the normal course of business, which may include indemnification provisions relating to certain risks service providers
undertake in performing services which are in the best interests of the Fund.&nbsp;&nbsp;While the Fund&rsquo;s exposure under
these indemnification provisions cannot be estimated, they are not expected to have a material impact on the Fund&rsquo;s financial
positions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Redemption Basket Obligation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Other than as necessary to meet the investment
objective of the Fund and pay its contractual obligations described below, the Fund requires liquidity to redeem Redemption Baskets.
The Fund intends to satisfy this obligation through the transfer of cash of the Fund (generated, if necessary, through the sale
of Treasury Securities) in an amount proportionate to the number of Shares being redeemed, as described above under<B>&nbsp;</B>&ldquo;Redemption
Procedures.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Contractual Obligations</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund&rsquo;s primary contractual obligations
are with the Sponsor and certain other service providers.&nbsp;&nbsp;The Sponsor, in return for its services, is entitled to a
management fee calculated as a fixed percentage of the Fund&rsquo;s NAV, currently 1.00% of its average net assets. The Fund also
is responsible for all ongoing fees, costs and expenses of its operation, including (i) brokerage and other fees and commissions
incurred in connection with the trading activities of the Fund; (ii) expenses incurred in connection with registering additional
Shares of the Fund or offering Shares of the Fund after the time any Shares have begun trading on NYSE Arca; (iii) the routine
expenses associated with the preparation and, if required, the printing and mailing of monthly, quarterly, annual and other reports
required by applicable U.S. federal and state regulatory authorities, Trust meetings and preparing, printing and mailing proxy
statements to Shareholders; (iv) the payment of any distributions related to redemption of Shares; (v) payment for routine services
of the Trustee, legal counsel and independent accountants; (vi) payment for routine accounting, bookkeeping, custody and transfer
agency services, whether performed by an outside service provider or by Affiliates of the Sponsor; (vii) postage and insurance;
(viii) costs and expenses associated with client relations and services; (ix) costs of preparation of all federal, state, local
and foreign tax returns and any taxes payable on the income, assets or operations of the Fund; and (x) extraordinary expenses (including,
but not limited to, legal claims and liabilities and litigation costs and any indemnification related thereto).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">While the Sponsor has agreed to pay registration
fees to the SEC, FINRA and any other regulatory agency in connection with the offer and sale of the Shares offered through this
prospectus, the legal, printing, accounting and other expenses associated with such registrations, and the initial fee of $5,000
for listing the Shares on the NYSE Arca, the Fund will be responsible for any registration fees and related expenses incurred in
connection with any future offer and sale of Shares of the Fund in excess of those offered through this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Fund pays its own brokerage and other
transaction costs. The Fund pays fees to FCMs in connection with its transactions in futures contracts. FCM fees are estimated
to be minimal for the Fund. In general, transaction costs on over-the-counter Wheat Interests and on Treasuries and other short-term
securities are embedded in the purchase or sale price of the instrument being purchased or sold, and may not readily be estimated.
Other expenses to be paid by the Fund, including but not limited to the fees paid to the Custodian and Distributor with respect
to the Fund, are estimated to be 1.41% for the twelve-month period ending April 30, 2015, though this amount may change in future
years.&nbsp;&nbsp;The Sponsor may, in its discretion, pay or reimburse the Fund for, or waive a portion of its management fee to
offset, expenses that would otherwise be borne by the Fund. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any general expenses of the Trust will be allocated
among the Teucrium Funds and each other series that may be established under the Trust in the future as determined by the Sponsor
in its sole and absolute discretion. The Trust is also responsible for extraordinary expenses, including, but not limited to, legal
claims and liabilities and litigation costs and any indemnification related thereto. The Trust and/or the Sponsor may be required
to indemnify the Trustee, Distributor or Custodian/Administrator under certain circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The parties cannot anticipate the amount of
payments that will be required under these arrangements for future periods as the Fund&rsquo;s NAV and trading levels to meet their
investment objectives will not be known until a future date. These agreements are effective for a specific term agreed upon by
the parties with an option to renew, or, in some cases, are in effect for the duration of the Fund&rsquo;s existence. The parties
may terminate these agreements earlier for certain reasons listed in the agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_047"></A>The Trust Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following paragraphs are a summary of certain
provisions of the Trust Agreement. The following discussion is qualified in its entirety by reference to the Trust Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Authority of the Sponsor</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor is generally authorized to perform
all acts deemed necessary to carry out the purposes of the Trust and to conduct the business of the Trust. The Trust and the Fund
will continue to exist until terminated in accordance with the Trust Agreement.&nbsp;&nbsp;The Sponsor&rsquo;s authority includes,
without limitation, the right to take the following actions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">To enter into, execute, deliver and maintain contracts,
agreements and any other documents as may be in furtherance of the Trust&rsquo;s purpose or necessary or appropriate for the offer
and sale of the Shares and the conduct of Trust activities;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">To establish, maintain, deposit into, sign checks
and otherwise draw upon accounts on behalf of the Trust with appropriate banking and savings institutions, and execute and accept
any instrument or agreement incidental to the Trust&rsquo;s business and in furtherance of its purposes;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">To supervise the preparation and filing of any registration
statement (and supplements and amendments thereto) for the Fund;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">To adopt, implement or amend, from time to time, such
disclosure and financial reporting, information gathering and control policies and procedures as are necessary or desirable to
ensure compliance with applicable disclosure and financial reporting obligations under any applicable securities laws;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">To make any necessary determination or decision in
connection with the preparation of the Trust&rsquo;s financial statements and amendments thereto;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">To prepare, file and distribute, if applicable, any
periodic reports or updates that may be required under the 1934 Act, the CEA or rules and regulations promulgated thereunder;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">To pay or authorize the payment of distributions to
the Shareholders and expenses of the Fund;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">To make any elections on behalf of the Trust under
the Code, or any other applicable U.S. federal or state tax law as the Sponsor shall determine to be in the best interests of
the Trust; and</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">In its sole discretion, to determine to admit an affiliate
or affiliates of the Sponsor as additional Sponsors.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B><I>The Sponsor&rsquo;s Obligations
</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In addition to the duties imposed by the Delaware
Trust Statute, under the Trust Agreement the Sponsor has the following obligations as a sponsor of the Trust:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">Devote to the business and affairs of the Trust such
of its time as it determines in its discretion (exercised in good faith) to be necessary for the benefit of the Trust and the
Shareholders of the Fund;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">Execute, file, record and/or publish all certificates,
statements and other documents and do any and all other things as may be appropriate for the formation, qualification and operation
of the Trust and for the conduct of its business in all appropriate jurisdictions;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">Appoint and remove independent public accountants
to audit the accounts of the Trust and employ attorneys to represent the Trust;</FONT></TD>
</TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">Use its best efforts to maintain the status of the
Trust as a statutory trust for state law purposes and as a partnership for U.S. federal income tax purposes;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">Invest, reinvest, hold univested, sell, exchange,
write options on, lease, lend and, subject to certain limitations set forth in the Trust Agreement, pledge, mortgage, and hypothecate
the estate of the Fund in accordance with the purposes of the Trust and any registration statement filed on behalf of the Fund;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">Have fiduciary responsibility for the safekeeping
and use of the Trust&rsquo;s assets, whether or not in the Sponsor&rsquo;s immediate possession or control;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">Enter into and perform agreements with each Authorized
Purchaser, receive from Authorized Purchasers and process properly submitted purchase orders, receive Creation Basket Deposits,
deliver or cause the delivery of Creation Baskets to the Depository for the account of the Authorized Purchaser submitting a purchase
order;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">Receive from Authorized Purchasers and process, or
cause the Distributor or other Fund service provider to process, properly submitted redemption orders, receive from the redeeming
Authorized Purchasers through the Depository, and thereupon cancel or cause to be cancelled, Shares corresponding to the Redemption
Baskets to be redeemed;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">Interact with the Depository; and</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="width: 8pt"></TD><TD><FONT STYLE="font-size: 10pt">Delegate duties to one or more administrators, as
the Sponsor determines.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">To the extent that, at law (common or statutory)
or in equity, the Sponsor has duties (including fiduciary duties) and liabilities relating thereto to the Trust, the Fund, the
Shareholders or to any other person, the Sponsor will not be liable to the Trust, the Fund, the Shareholders or to any other person
for its good faith reliance on the provisions of the Trust Agreement or this prospectus unless such reliance constitutes gross
negligence or willful misconduct on the part of the Sponsor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Liability and Indemnification</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Under the Trust Agreement, the Sponsor, the
Trustee and their respective Affiliates (collectively, &ldquo;Covered Persons&rdquo;) shall have no liability to the Trust, the
Fund, or to any Shareholder for any loss suffered by the Trust or the Fund which arises out of any action or inaction of such Covered
Person if such Covered Person, in good faith, determined that such course of conduct was in the best interest of the Trust or the
Fund and such course of conduct did not constitute gross negligence or willful misconduct of such Covered Person.&nbsp;&nbsp;Subject
to the foregoing, neither the Sponsor nor any other Covered Person shall be personally liable for the return or repayment of all
or any portion of the capital or profits of any Shareholder or assignee thereof, it being expressly agreed that any such return
of capital or profits made pursuant to the Trust Agreement shall be made solely from the assets of the applicable Teucrium Fund
without any rights of contribution from the Sponsor or any other Covered Person. A Covered Person shall not be liable for the conduct
or willful misconduct of any administrator or other delegatee selected by the Sponsor with reasonable care, provided, however,
that the Trustee and its Affiliates shall not, under any circumstances be liable for the conduct or willful misconduct of any administrator
or other delegatee or any other person selected by the Sponsor to provide services to the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; "><FONT STYLE="text-underline-style: double">To
the extent that, at law (common or statutory) or in equity, the Sponsor has duties (including fiduciary duties) and liabilities
relating to the Trust, the Teucrium Funds, the shareholders of the Teucrium Funds, or to any other person, the Sponsor, acting
under the Trust Agreement, shall not be liable to the Trust, the Teucrium Funds, the shareholders of the Teucrium Funds or to any
other person for its good faith reliance on the provisions of the Trust Agreement. The provisions of the Trust Agreement, to the
extent they restrict or</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; ">eliminate the duties and liabilities
of the Sponsor otherwise existing at law or in equity, replace such other duties and liabilities of the Sponsor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trust Agreement also provides that the Sponsor
shall be indemnified by the Trust (or by a series separately to the extent the matter in question relates to a single series or
disproportionately affects a specific series in relation to other series) against any losses, judgments, liabilities, expenses
and amounts paid in settlement of any claims sustained by it in connection with its activities for the Trust, provided that (i)
the Sponsor was acting on behalf of or performing services for the Trust and has determined, in good faith, that such course of
conduct was in the best interests of the Trust and such liability or loss was not the result of gross<B>&nbsp;</B>negligence, willful
misconduct, or a breach of the Trust Agreement on the part of the Sponsor and (ii) any such indemnification will only be recoverable
from the assets of the applicable series.&nbsp;&nbsp;The Sponsor&rsquo;s rights to indemnification permitted under the Trust Agreement
shall not be affected by the dissolution or other cessation to exist of the Sponsor, or the withdrawal, adjudication of bankruptcy
or insolvency of the Sponsor, or the filing of a voluntary or involuntary petition in bankruptcy under Title 11 of the Bankruptcy
Code by or against the Sponsor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Notwithstanding the above,
the Sponsor shall not be indemnified for any losses, liabilities or expenses arising from or out of an alleged violation of U.S.
federal or state securities laws unless (i) there has been a successful adjudication on the merits of each count involving alleged
securities law violations as to the particular indemnitee and the court approves the indemnification of such expenses (including,
without limitation, litigation costs), (ii) such claims have been dismissed with prejudice on the merits by a court of competent
jurisdiction as to the particular indemnitee and the court approves the indemnification of such expenses (including, without limitation,
litigation costs), or (iii) a court of competent jurisdiction approves a settlement of the claims against a particular indemnitee
and finds that indemnification of the settlement and related costs should be made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The payment of any indemnification shall be
allocated, as appropriate, among the Trust&rsquo;s series.&nbsp;&nbsp;The Trust and its series shall not incur the cost of that
portion of any insurance which insures any party against any liability, the indemnification of which is prohibited under the Trust
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Expenses incurred in defending a threatened
or pending action, suit or proceeding against the Sponsor shall be paid by the Trust in advance of the final disposition of such
action, suit or proceeding, if (i) the legal action relates to the performance of duties or services by the Sponsor on behalf of
the Trust; (ii) the legal action is initiated by a party other than the Trust; and (iii) the Sponsor undertakes to repay the advanced
funds with interest to the Trust in cases in which it is not entitled to indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trust Agreement provides that the Sponsor
and the Trust shall indemnify the Trustee and its successors, assigns, legal representatives, officers, directors, shareholders,
employees, agents and servants (the &ldquo;Trustee Indemnified Parties&rdquo;) against any liabilities, obligations, losses, damages,
penalties, taxes, claims, actions, suits, costs, expenses or disbursements which may be imposed on a Trustee Indemnified Party
relating to or arising out of the formation, operation or termination of the Trust, the execution, delivery and performance of
any other agreements to which the Trust is a party, or the action or inaction of the Trustee under the Trust Agreement or any other
agreement, except for expenses resulting from the gross<B>&nbsp;</B>negligence or willful misconduct of a Trustee Indemnified Party.
Further, certain officers of the Sponsor are insured against liability for certain errors or omissions which an officer may incur
or that may arise out of his or her capacity as such.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In the event the Trust is made a party to any
claim, dispute, demand or litigation or otherwise incurs any liability or expense as a result of or in connection with any Shareholder&rsquo;s
(or assignee&rsquo;s) obligations or liabilities unrelated to the Trust business, such Shareholder (or assignees cumulatively)
is required under the Trust Agreement to indemnify the Trust for all such liability and expense incurred, including attorneys&rsquo;
and accountants&rsquo; fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Withdrawal of the Sponsor</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor may withdraw voluntarily as the
Sponsor of the Trust only upon ninety (90) days&rsquo; prior written notice to the holders of the Trust&rsquo;s outstanding shares
and the Trustee.&nbsp;&nbsp;If the withdrawing Sponsor is</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the last remaining Sponsor, shareholders holding a majority (over
50%) of the outstanding shares of the Trust, voting together as a single class (not including shares acquired by the Sponsor through
its initial capital contribution) may vote to elect a successor Sponsor.&nbsp;&nbsp;The successor Sponsor will continue the business
of the Trust.&nbsp;&nbsp;Shareholders have no right to remove the Sponsor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In the event of withdrawal, the Sponsor is entitled
to a redemption of the shares it acquired through its initial capital contribution to any of the series of the Trust at their NAV
per share.&nbsp;&nbsp;If the Sponsor withdraws and a successor Sponsor is named, the withdrawing Sponsor shall pay all expenses
as a result of its withdrawal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Meetings</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Meetings of
the Trust&rsquo;s shareholders may be called by the Sponsor and will be called by it upon the written request of Shareholders
holding at least 25% of the outstanding Shares of the Trust or the Fund, as applicable (not including Shares acquired by the
Sponsor through its initial capital contribution).&nbsp;&nbsp;The Sponsor shall deposit in the United States mail or
electronically transmit written notice to all Shareholders of the Fund of the meeting and the purpose of the meeting, which
shall be held on a date not less than 30 nor more than 60 days after the date of mailing of such notice, at a reasonable time
and place.&nbsp;&nbsp;</FONT> <FONT STYLE="font-size: 10pt">Where the meeting is called upon the written request of the
shareholders of the Teucrium Funds, or any Teucrium fund, as applicable, such written notice shall be mailed or transmitted
not more than 45 days after such written request for a meeting was received by the Sponsor.&nbsp;&nbsp;Any notice of meeting
shall be accompanied by a description of the action to be taken at the meeting.&nbsp;&nbsp;Shareholders may vote in person or
by proxy at any such meeting.&nbsp;&nbsp;and, if applicable, an opinion of independent counsel as to the effect of such
proposed action on the liability of shareholders of the Teucrium Funds, or any Teucrium fund, as applicable, for the debts of
the applicable Teucrium Fund. Any action required or permitted to be taken by Shareholders by vote may be taken without a
meeting by written consent setting forth the actions so taken.&nbsp;&nbsp;Such written consents shall be treated for all
purposes as votes at a meeting.&nbsp;&nbsp;If the vote or consent of any Shareholder to any action of the Trust, the Fund or
any Shareholder, as contemplated by the Trust Agreement, is solicited by the Sponsor, the solicitation shall be effected by
notice to each Shareholder given in the manner provided in accordance with the Trust Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Voting Rights</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Shareholders have very limited voting rights.&nbsp;&nbsp;Specifically,
the Trust Agreement provides that shareholders of the Trust&rsquo;s Series holding shares representing at least a majority (50%)
of the outstanding shares of the Trust&rsquo;s Series voting together as a single class (excluding shares acquired by the Sponsor
in connection with its initial capital contribution to any Trust series) may vote to (i) continue the Trust by electing a successor
Sponsor as described above, and (ii) approve amendments to the Trust Agreement that impair the right to surrender Redemption Baskets
for redemption. (Trustee consent to any amendment to the Trust Agreement is required if the Trustee reasonably believes that such
amendment adversely affects any of its rights, duties or liabilities.)&nbsp;&nbsp;In addition, shareholders of the Teucrium Funds
holding shares representing seventy-five percent (75%) of the outstanding shares of the Teucrium Funds, voting together as a single
class (excluding shares acquired by the Sponsor in connection with its initial capital contribution to any Trust series) may vote
to dissolve the Trust upon not less than ninety (90) days&rsquo; notice to the Sponsor.&nbsp;&nbsp;Shareholders have no voting
rights with respect to the Trust or the Fund except as expressly provided in the Trust Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Limited Liability of Shareholders</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Shareholders shall be entitled to the same limitation
of personal liability extended to stockholders of private corporations for profit organized under the general corporation law of
Delaware, and no Shareholder shall be liable for claims against, or debts of the Trust or the Fund in excess of his share of the
Fund&rsquo;s assets.&nbsp;&nbsp;The Trust or the Fund shall not make a claim against a Shareholder with respect to amounts distributed
to such Shareholder or amounts received by such Shareholder upon redemption unless, under Delaware law, such Shareholder is liable
to repay such amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trust or the Fund shall indemnify to the
full extent permitted by law and the Trust Agreement each Shareholder (excluding the Sponsor to the extent of its ownership of
any Shares acquired through its initial</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">capital contribution) against any claims of liability asserted against
such Shareholder solely because of its ownership of Shares (other than for taxes on income from Shares for which such Shareholder
is liable).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Every written note, bond, contract, instrument,
certificate or undertaking made or issued by the Sponsor on behalf of the Trust or the Fund shall give notice to the effect that
the same was executed or made by or on behalf of the Trust or the Fund and that the obligations of such instrument are not binding
upon the Shareholders individually but are binding only upon the assets and property of the Fund and no recourse may be had with
respect to the personal property of a Shareholder for satisfaction of any obligation or claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_048"></A>The Sponsor Has Conflicts of Interest</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">There are present and potential future conflicts
of interest in the Trust&rsquo;s structure and operation you should consider before you purchase Shares.&nbsp;&nbsp;The Sponsor
may use this notice of conflicts as a defense against any claim or other proceeding made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor&rsquo;s principals, officers and
employees do not devote their time exclusively to the Fund.&nbsp;&nbsp;Under the organizational documents of the Sponsor, Mr. Sal
Gilbertie and Mr. Dale Riker are obligated to use commercially reasonable efforts to manage the Sponsor, devote such amount of
time to the Sponsor as would be consistent with their roles in similarly placed commodity pool operators, and remain active in
managing the Sponsor until they are no longer managing members of the Sponsor or the Sponsor dissolves.&nbsp;&nbsp;In addition,
the Sponsor expects that operating the Teucrium Funds will generally constitute the principal and a full-time business activity
of its principals, officers and employees. Notwithstanding these obligations and expectations, the Sponsor&rsquo;s principals may
be directors, officers or employees of other entities, and may manage assets of other entities, including the other Teucrium Funds,
through the Sponsor or otherwise. In particular, the principals could have a conflict between their responsibilities to the Fund
on the one hand and to those other entities on the other.&nbsp;&nbsp;The Sponsor believes that it currently has sufficient personnel,
time, and working capital to discharge its responsibilities to the Fund in a fair manner and that these persons&rsquo; conflicts
should not impair their ability to provide services to the Fund.&nbsp;&nbsp;However, it is not possible to quantify the proportion
of their time that the Sponsor&rsquo;s personnel will devote to the Fund and its management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor and its principals, officers and
employees may trade futures and related contracts for their own accounts.&nbsp;&nbsp;Shareholders will not be permitted to inspect
the trading records of such persons or any written policies of the Sponsor related to such trading.&nbsp;&nbsp;A conflict of interest
may exist if their trades are in the same markets and at approximately the same times as the trades for the Fund.&nbsp;&nbsp;A
potential conflict also may occur when the Sponsor&rsquo;s principals trade their accounts more aggressively or take positions
in their accounts which are opposite, or ahead of, the positions taken by the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The Sponsor has sole current authority to
manage the investments and operations of the Fund, and this may allow it to act in a way that furthers its own interests rather
than your best interests, including the authority of the Sponsor to allocate expenses to and between the Funds.&nbsp;&nbsp;Shareholders
have very limited voting rights, which will limit the ability to influence matters such as amendment of the Trust Agreement, change
in the Fund&rsquo;s basic investment policies, or dissolution of the Fund or the Trust. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor serves as the Sponsor to the Teucrium
Funds, and may in the future serve as the Sponsor or investment adviser to commodity pools other than the Teucrium Funds.&nbsp;&nbsp;The
Sponsor may have a conflict to the extent that its trading decisions for the Fund may be influenced by the effect they would have
on the other pools it manages.&nbsp;&nbsp;In addition, the Sponsor may be required to indemnify the officers and directors of the
other pools, if the need for indemnification arises.&nbsp;&nbsp;This potential indemnification will cause the Sponsor&rsquo;s assets
to decrease.&nbsp;&nbsp;If the Sponsor&rsquo;s other sources of income are not sufficient to compensate for the indemnification,
it could cease operations, which could in turn result in Fund losses and/or termination of the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If the Sponsor acquires knowledge of a potential
transaction or arrangement that may be an opportunity for the Fund, it shall have no duty to offer such opportunity to the Fund.&nbsp;&nbsp;The
Sponsor will not be liable to the Fund or the Shareholders for breach of any fiduciary or other duty if Sponsor pursues such opportunity
or directs it to another person or does not communicate such opportunity to the Fund.&nbsp;&nbsp;Neither the Fund nor any Shareholder
has any rights or obligations by virtue of the Trust Agreement, the trust relationship</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">created thereby, or this prospectus in such business ventures or
the income or profits derived from such business ventures.&nbsp;&nbsp;The pursuit of such business ventures, even if competitive
with the activities of the Fund, will not be deemed wrongful or improper.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Resolution of Conflicts Procedures</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Trust Agreement provides
that whenever a conflict of interest exists between the Sponsor or any of its Affiliates, on the one hand, and the Trust, any shareholder
of a Trust series, or any other person, on the other hand, the Sponsor shall resolve such conflict of interest, take such action
or provide such terms, considering in each case the relative interest of each party (including its own interest) to such conflict,
agreement, transaction or situation and the benefits and burdens relating to such interests, any customary or accepted industry
practices, and any applicable generally accepted accounting practices or principles. In the absence of bad faith by the Sponsor,
the resolution, action or terms so made, taken or provided by the Sponsor shall not constitute a breach of the Trust Agreement
or any other agreement contemplated therein or of any duty or obligation of the Sponsor at law or in equity or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Sponsor or any affiliate thereof
may engage in or possess an interest in other profit-seeking or business ventures of any nature or description, independently or
with others, whether or not such ventures are competitive with the Trust and the doctrine of corporate opportunity, or any analogous
doctrine, shall not apply to the Sponsor. If the Sponsor acquires knowledge of a potential transaction, agreement, arrangement
or other matter that may be an opportunity for the Trust, it shall have no duty to communicate or offer such opportunity to the
Trust, and the Sponsor shall not be liable to the Trust or to the Shareholders for breach of any fiduciary or other duty by reason
of the fact that the Sponsor pursues or acquires for, or directs such opportunity to, another person or does not communicate such
opportunity or information to the Trust.&nbsp;&nbsp;Neither the Trust nor any Shareholder shall have any rights or obligations
by virtue of the Trust Agreement or the trust relationship created thereby in or to such independent ventures or the income or
profits or losses derived therefrom, and the pursuit of such ventures, even if competitive with the activities of the Trust, shall
not be deemed wrongful or improper.&nbsp;&nbsp;Except to the extent expressly provided in the Trust Agreement, the Sponsor may
engage or be interested in any financial or other transaction with the Trust, the Shareholders or any affiliate of the Trust or
the Shareholders.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_049"></A>Interests of Named Experts and Counsel</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor has employed Reed Smith LLP to prepare
this prospectus.&nbsp;&nbsp;Neither the law firm nor any other expert hired by the Fund to give advice on the preparation of this
offering document have been hired on a contingent fee basis. Nor do any of them have any present or future expectation of interest
in the Sponsor, Distributor, Authorized Purchasers, Custodian/Administrator or other service providers to the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_050"></A>Provisions of Federal and State Securities Laws</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This offering is made pursuant to federal and
state securities laws.&nbsp;&nbsp;The SEC and state securities agencies take the position that indemnification of the Sponsor that
arises out of an alleged violation of such laws is prohibited unless certain conditions are met.&nbsp;&nbsp;Those conditions require
that no indemnification of the Sponsor or any underwriter for the Fund may be made in respect of any losses, liabilities or expenses
arising from or out of an alleged violation of federal or state securities laws unless:&nbsp;&nbsp;(i) there has been a successful
adjudication on the merits of each count involving alleged securities law violations as to the party seeking indemnification and
the court approves the indemnification; (ii) such claim has been dismissed with prejudice on the merits by a court of competent
jurisdiction as to the party seeking indemnification; or (iii) a court of competent jurisdiction approves a settlement of the claims
against the party seeking indemnification and finds that indemnification of the settlement and related costs should be made, provided
that, before seeking such approval, the Sponsor or other indemnitee must apprise the court of the position held by regulatory agencies
against such indemnification.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B> </B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_051"></A>Books and Records</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trust keeps its books of record and account
at its office located at 232 Hidden Lake Road, Building A,&nbsp;Brattleboro, Vermont 05301, or at the offices of the Administrator,
the Bank of New York Mellon, located at One Wall Street, New York, New York 10286, or such office, including of an administrative
agent, as it may subsequently designate upon notice.&nbsp;&nbsp;The books of account of the Fund are open to inspection by any
Shareholder (or any duly constituted designee of a Shareholder) at all times during the usual business hours of the Fund upon reasonable
advance notice to the extent such access is required under CFTC rules and regulations.&nbsp;&nbsp;In addition, the Trust keeps
a copy of the Trust Agreement on file in its office which will be available for inspection by any Shareholder at all times during
its usual business hours upon reasonable advance notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_052"></A>Analysis of Critical Accounting Policies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund&rsquo;s critical accounting policies
are set forth in the financial statements that are incorporated by reference in this prospectus prepared in accordance with accounting
principles generally accepted in the United States of America, which require the use of certain accounting policies that affect
the amounts reported in these financial statements, including the following: (i) Fund trades are accounted for on a trade-date
basis and marked to market on a daily basis; (ii) the difference between the cost and market value of Wheat Interests is recorded
as &ldquo;change in unrealized profit/loss&rdquo; for open (unrealized) contracts, and recorded as &ldquo;realized profit/loss&rdquo;
when open positions are closed out; and (iii) earned interest income, as well as the fees and expenses of the Fund, are recorded
on an accrual basis.&nbsp;&nbsp;The Sponsor believes that all relevant accounting assumptions and policies have been considered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_053"></A>Statements, Filings, and Reports to Shareholders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trust will furnish to DTC Participants for
distribution to Shareholders annual reports (as of the end of each fiscal year) for the Fund as are required to be provided to
Shareholders by the CFTC and the NFA.&nbsp;&nbsp;These annual reports will contain financial statements prepared by the Sponsor
and audited by an independent registered public accounting firm designated by the Sponsor.&nbsp;&nbsp;The Trust will also post
monthly reports to the Fund&rsquo;s website (<U>www.teucriumweatfund.com</U>).&nbsp;&nbsp;These monthly reports will contain certain
unaudited financial information regarding the Fund, including the Fund&rsquo;s NAV.&nbsp;&nbsp;The Sponsor will furnish to the
Shareholders other reports or information which the Sponsor, in its discretion, determines to be necessary or appropriate.&nbsp;&nbsp;In
addition, under SEC rules the Trust will be required to file quarterly and annual reports for the Fund with the SEC, which need
not be sent to Shareholders but will be publicly available through the SEC.&nbsp;&nbsp;The Trust will post the same information
that would otherwise be provided in the Trust&rsquo;s CFTC, NFA and SEC reports on the Fund&rsquo;s website <U>www.teucriumweatfund.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor is responsible for the registration
and qualification of the Shares under the federal securities laws, federal commodities laws, and laws of any other jurisdiction
as the Sponsor may select.&nbsp;&nbsp;The Sponsor is responsible for preparing all required reports, but has entered into an agreement
with the Administrator to prepare these reports on the Trust&rsquo;s behalf.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The accountants&rsquo; report on its audit of
the Fund&rsquo;s financial statements will be furnished by the Trust to Shareholders upon request.&nbsp;&nbsp;The Trust will make
such elections, file such tax returns, and prepare, disseminate and file such tax reports for the Fund, as it is advised by its
counsel or accountants are from time to time required by any applicable statute, rule or regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">PricewaterhouseCoopers (&ldquo;PwC&rdquo;),
2001 Ross Avenue, Suite 1800, Dallas, Texas 75201-2997, will provide tax information in accordance with applicable U.S. Treasury
Regulations.&nbsp;&nbsp;Persons treated as middlemen for purposes of these regulations may obtain tax information regarding the
Fund from PwC or from the Fund&rsquo;s website, <B><U>www.teucriumweatfund.com</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_054"></A>Fiscal Year</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The fiscal year of the Fund is the calendar
year.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_055"></A>Governing Law; Consent to Delaware Jurisdiction</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The rights of the Sponsor, the Trust, the Fund,
DTC (as registered owner of the Fund&rsquo;s global certificate for Shares) and the Shareholders are governed by the laws of the
State of Delaware.&nbsp;&nbsp;The Sponsor, the Trust, the Fund and DTC and, by accepting Shares, each DTC Participant and each
Shareholder, consent to the jurisdiction of the courts of the State of Delaware and any federal courts located in Delaware.&nbsp;&nbsp;Such
consent is not required for any person to assert a claim of Delaware jurisdiction over the Sponsor, the Trust or the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><A NAME="a_056"></A>Security Ownership of Principal Shareholders and Management</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> The following table sets forth shares as
of December 31, 2013, information with respect to each person known to own beneficially more than 5% of the outstanding shares
of the Fund. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 24%; padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Name</FONT></TD>
    <TD STYLE="width: 1%; padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="width: 23%; padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Address</FONT></TD>
    <TD STYLE="width: 1%; padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="width: 29%; padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Amount and Nature of </FONT><BR>
<FONT STYLE="font-size: 10pt">Beneficial Ownership</FONT></TD>
    <TD STYLE="width: 1%; padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="width: 16%; padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Percent of Class</FONT></TD>
    <TD STYLE="width: 5%; padding-top: 5pt; padding-bottom: 5pt; font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Teucrium Agricultural Fund</FONT> </TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Brattleboro, VT 05301</FONT></TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">30,987 common units</FONT> </TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt; text-align: left"><FONT STYLE="font-size: 10pt">6.52%</FONT> </TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt; font-size: 12pt"></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt; font-size: 12pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> As of December 31, 2013, Class A members
and officers of the Fund did not own any Shares beneficially. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_057"></A>Legal Matters</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Litigation and Claims</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Within the past five years of the date of this
prospectus, there have been no material administrative, civil or criminal actions against the Sponsor, the Trust or the Fund, or
any principal or affiliate of any of them.&nbsp;&nbsp;This includes any actions pending, on appeal, concluded, threatened, or otherwise
known to them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Legal Opinion</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Reed Smith LLP has been retained to advise the
Trust and the Sponsor with respect to the Shares being offered hereby and has passed upon the validity of the Shares being issued
hereunder. Reed Smith LLP has also provided the Sponsor with its opinion with respect to federal income tax matters addressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Experts</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Rothstein Kass, an independent registered
public accounting firm, has audited the financial statements incorporated herein by reference of the Trust, the Fund and the Sponsor
as of December 31, 2013 and 2012. </P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_058"></A>Privacy Policy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Privacy Policy explains the policies of
the Sponsor, a commodity pool operator registered with the CFTC, and (i) the Trust, and (ii) each commodity pool for which the
Sponsor serves as Sponsor currently or in the future including Teucrium Corn Fund, Teucrium WTI Crude Oil Fund, Teucrium Natural
Gas Fund, Teucrium Wheat Fund, Teucrium Sugar Fund, and Teucrium Soybean Fund, and Teucrium Agricultural Fund (each of which is
a series of the Trust), relating to the collection, maintenance, and use of nonpublic personal information about the Funds&rsquo;
investors, as required under federal law. <B>Federal law gives investors the right to limit some but not all sharing of their nonpublic
personal information. Federal law also requires the Sponsor to tell investors how it collects, shares, and protects such nonpublic
personal information. Please read this policy carefully to understand what the Sponsor does. </B>This Privacy Policy applies to
the nonpublic personal information of investors who are individuals and who obtain financial products or services from the Sponsor,
the Trust, and the Funds primarily for personal, family, or household purposes. This Privacy</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Policy applies to both current and former Fund investors; the Sponsor
will only disclose nonpublic personal information about former investors to the same extent as for current investors, as described
below.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>Collection of Nonpublic
Personal Information</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor may collect or have access to nonpublic
personal information about current and former Fund investors for certain purposes relating to the operation of the Funds. This
information may include information received from investors, such as their name, social security number, telephone number, and
address, and information about investors&rsquo; holdings and transactions in shares of the Funds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>Use and Disclosure
of Nonpublic Personal Information</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor recognizes and respects the privacy
expectation of each of the Funds&rsquo; investors. The Sponsor believes that the confidentiality and protection of investors&rsquo;
nonpublic personal information is one of its fundamental responsibilities. This means, most importantly, that the Sponsor does
not sell nonpublic personal information to any third parties. The Sponsor primarily uses investors&rsquo; nonpublic personal information
to complete financial transactions that may be requested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Below are the circumstances in which the Sponsor
may disclose investors&rsquo; nonpublic personal information to third parties; investors may not opt out of these disclosures:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">The Sponsor may provide an
investor&rsquo;s nonpublic personal information to non-affiliated service providers involved in servicing and administering products
and services for, or on behalf of the Sponsor (<I>e.g.</I>, accountants, compliance consultants, legal advisors, broker-dealers,
introducing brokers, futures commissions merchants, investment companies, investment advisers, commodity trading advisors, commodity
pool operators, administrators, and custodians). In all such cases, the Sponsor will provide the third party with only the nonpublic
personal information necessary to carry out its assigned responsibilities and only for that purpose.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">The Sponsor will release
nonpublic personal information if directed by an investor to do so. The Sponsor may also release nonpublic personal information
to persons acting in a fiduciary or representative capacity on behalf of an investor.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">The Sponsor may release an
investor&rsquo;s nonpublic personal information to courts and other parties related to a subpoena or other court, government,
or SRO order or process, as authorized by law.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">The Sponsor may release an
investor&rsquo;s nonpublic personal information to regulators (including SROs) or governmental entities that have made a reasonable
request for such information, as authorized by law.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">The Sponsor may release an
investor&rsquo;s nonpublic personal information to certain governmental entities and others to prevent money laundering, as authorized
by law.</FONT></TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> Investors&rsquo; nonpublic personal information, particularly
information about investors&rsquo; holdings and transactions in shares of the Funds, may be shared between and amongst the Sponsor
and the Funds. <B>An investor cannot opt-out of the sharing of nonpublic personal information between and amongst the Sponsor and
the Funds. </B> However, the Sponsor and the Funds will not use this information for any cross-marketing purposes. <B>In other
words, all investors will be treated as having &ldquo;opted out&rdquo; of receiving marketing solicitations from Funds other than
the Fund(s) in which it invests.</B> </P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>Protection of Nonpublic
Personal Information</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">The Sponsor restricts access
to investors&rsquo; nonpublic personal information only to those employees, agents, and representatives who require that information
to provide financial products and services.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">The Sponsor requires all
employees, financial professionals, and companies providing services on its behalf to keep investors&rsquo; nonpublic personal
information confidential.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Third parties with whom the
Sponsor shares investor nonpublic personal information must agree to follow appropriate standards of security and confidentiality,
which includes safeguarding such information physically, electronically, and procedurally.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">The Sponsor maintains physical,
technical, administrative, and procedural safeguards that comply with federal standards to protect the confidentiality and security
of investors&rsquo; nonpublic personal information including, where applicable, its disposal.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Employees, agents, and representatives
who have access to shareholder reports or other correspondence containing investors&rsquo; nonpublic personal information are
required to utilize passwords on all electronic devices used to carry out their professional responsibilities.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_059"></A>U.S. Federal Income Tax Considerations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following discussion summarizes the material
U.S. federal income tax consequences of the purchase, ownership and disposition of Shares of the Fund and the U.S. federal income
tax treatment of the Fund.&nbsp;&nbsp;Except where noted otherwise, it deals only with the tax consequences relating to Shares
held as capital assets by persons not subject to special tax treatment.&nbsp;&nbsp;For example, in general it does not address
the tax consequences to dealers in securities or currencies or commodities, traders in securities or dealers or traders in commodities
that elect to use a mark-to-market method of accounting, financial institutions, tax-exempt entities, insurance companies, persons
holding Shares as a part of a position in a &ldquo;straddle&rdquo; or as part of a &ldquo;hedging,&rdquo; &ldquo;conversion&rdquo;
or other integrated transaction for federal income tax purposes, or holders of Shares whose &ldquo;functional currency&rdquo; is
not the U.S. dollar.&nbsp;&nbsp;Furthermore, the discussion below is based upon the provisions of the Code, and regulations (&ldquo;Treasury
Regulations&rdquo;), rulings and judicial decisions thereunder as of the date hereof, and such authorities may be repealed, revoked
or modified (possibly with retroactive effect) so as to result in federal income tax consequences different from those discussed
below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor has received the opinion of Reed
Smith LLP (&ldquo;Reed Smith&rdquo;), counsel to the Trust, that the material U.S. federal income tax consequences to the Fund
and to U.S. Shareholders and Non-U.S. Shareholders (as defined below) will be as described in the following paragraphs.&nbsp;&nbsp;In
rendering its opinion, Reed Smith has relied on the facts and assumptions described in this prospectus as well as certain factual
representations made by the Trust and the Sponsor.&nbsp;&nbsp;This opinion is not binding on the IRS.&nbsp;&nbsp;No ruling has
been requested from the IRS with respect to any matter affecting the Fund or prospective investors, and the IRS may disagree with
the tax positions taken by the Trust.&nbsp;&nbsp;If the IRS were to challenge the Trust&rsquo;s tax positions in litigation, they
might not be sustained by the courts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As used herein, the term &ldquo;U.S. Shareholder&rdquo;
means a Shareholder that is, for United States federal income tax purposes, (i) a citizen or resident of the United States, (ii)
a corporation or partnership created or organized in or under the laws of the United States or any political subdivision thereof,
(iii) an estate the income of which is subject to United States federal income taxation regardless of its source or (iv) a trust
that (X) is subject to the supervision of a court within the United States and the control of one or more United States persons
as described in section 7701(a)(30) of the Code or (Y) has a valid election in effect under applicable Treasury Regulations to
be treated as a United States person.&nbsp;&nbsp;A &ldquo;Non-U.S. Shareholder&rdquo; is a holder that is not a U.S. Shareholder.&nbsp;&nbsp;If
a partnership holds our Shares, the tax treatment of a partner will generally depend upon the status of the partner and the activities
of the partnership. If you are a partner of a partnership holding our Shares, you should consult your own tax advisor regarding
the tax consequences.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">EACH PROSPECTIVE INVESTOR IS ADVISED TO CONSULT
ITS OWN TAX ADVISOR REGARDING THE U.S. FEDERAL INCOME TAX CONSEQUENCES OF AN INVESTMENT IN SHARES, AS WELL AS ANY APPLICABLE STATE,
LOCAL OR FOREIGN TAX CONSEQUENCES, IN LIGHT OF ITS PARTICULAR CIRCUMSTANCES.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Tax Classification of the Trust and the
Fund</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trust is organized and will be operated
as a statutory trust in accordance with the provisions of the Trust Agreement and applicable Delaware law.&nbsp;&nbsp;Notwithstanding
the Trust&rsquo;s status as a statutory trust and the Fund&rsquo;s status as a series of that Trust, due to the nature of its activities
the Fund will be treated as a partnership rather than a trust for U.S. federal income tax purposes.&nbsp;&nbsp;In addition, the
trading of Shares on the NYSE Arca will cause the Fund to be classified as a &ldquo;publicly traded partnership&rdquo; for federal
income tax purposes.&nbsp;&nbsp;Under the Code, a publicly traded partnership is generally taxable as a corporation.&nbsp;&nbsp;In
the case of an entity (such as the Fund) not registered under the Investment Company Act of 1940, however, an exception to this
general rule applies if at least 90% of the entity&rsquo;s gross income is &ldquo;qualifying income&rdquo; for each taxable year
of its existence (the &ldquo;qualifying income exception&rdquo;).&nbsp;&nbsp;For this purpose, qualifying income is defined as
including, in pertinent part, interest (other than from a financial business), dividends, and gains from the sale or disposition
of capital assets held for the production of interest or dividends.&nbsp;&nbsp;In the case of a partnership of which a principal
activity is the buying and selling of commodities other than as inventory or of futures, forwards and options with respect to commodities,
&ldquo;qualifying income&rdquo; also includes income and gains from commodities and from futures, forwards, options, and swaps
and other notional principal contracts with respect to commodities.&nbsp;&nbsp;The Trust and the Sponsor have represented the following
to Reed Smith:</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">at least 90% of the Fund&rsquo;s gross income for each taxable year will constitute &ldquo;qualifying income&rdquo; within the meaning of Code section 7704 (as described above);</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the Fund is organized and will be operated in accordance with its governing documents&nbsp;&nbsp;and applicable law; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the Fund has not elected, and will not elect, to be classified as a corporation for U.S. federal income tax purposes.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Based in part on these representations, Reed
Smith is of the opinion that the Fund will be treated as a partnership that it is not taxable as a corporation for U.S. federal
income tax purposes.&nbsp;&nbsp;The Fund&rsquo;s taxation as a partnership rather than a corporation will require the Sponsor to
conduct the Fund&rsquo;s business activities in such a manner that it satisfies the requirements of the qualifying income exception
on a continuing basis.&nbsp;&nbsp;No assurances can be given that the Fund&rsquo;s operations for any given year will produce income
that satisfies these requirements. Reed Smith will not review the Fund&rsquo;s ongoing compliance with these requirements and will
have no obligation to advise the Trust, the Fund or the Fund&rsquo;s Shareholders in the event of any subsequent change in the
facts, representations or applicable law relied upon in reaching its opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If the Fund failed to satisfy the qualifying
income exception in any year, other than a failure that is determined by the IRS to be inadvertent and that is cured within a reasonable
time after discovery (in which case, as a condition of relief, the Fund could be required to pay the government amounts determined
by the IRS), the Fund would be taxable as a corporation for federal income tax purposes and would pay federal income tax on its
income at regular corporate rates.&nbsp;&nbsp;In that event, Shareholders would not report their share of the Fund&rsquo;s income
or loss on their tax returns.&nbsp;&nbsp;Distributions by the Fund (if any) would be treated as ordinary dividend income to the
Shareholders to the extent of the Fund&rsquo;s current and accumulated earnings and profits.&nbsp;&nbsp;Accordingly, if the Fund
were to be taxable as a corporation, it would likely have a material adverse effect on the economic return from an investment in
the Fund and on the value of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">The remainder of this summary assumes that
the Fund is classified for federal income tax purposes as a partnership that it is not taxable as a corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>




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    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>U.S. Shareholders</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Tax Consequences of Ownership of Shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Taxation of the Fund&rsquo;s Income</I>.&nbsp;&nbsp;No
U.S. federal income tax is paid by the Fund on its income.&nbsp;&nbsp;Instead, the Fund files annual partnership returns, and each
U.S. Shareholder is required to report on its U.S. federal income tax return its allocable share of the income, gain, loss, deductions
and credits reflected on such returns.&nbsp;&nbsp;If the Fund recognizes income in the form of interest on Treasury Securities
and net capital gains from cash settlement of Wheat Interests for a taxable year, Shareholders must report their share of these
items even though the Fund makes no distributions of cash or property during the taxable year.&nbsp;&nbsp;Consequently, a Shareholder
may be taxable on income or gain recognized by the Fund but receive no cash distribution with which to pay the resulting tax liability,
or may receive a distribution that is insufficient to pay such liability.&nbsp;&nbsp;Because the Sponsor currently does not intend
to make distributions, it is likely that that a U.S. Shareholder that realizes net income or gain with respect to Shares for a
taxable year will be required to pay any resulting tax from sources other than Fund distributions.&nbsp;&nbsp;Additionally, for
taxable years beginning after December 31, 2012, individuals with income in excess of $200,000 ($250,000 in the case of married
individuals filing jointly) and certain estates and trusts are subject to an additional 3.8% tax on their &ldquo;net investment
income,&rdquo; which generally includes net income from interest, dividends, annuities, royalties, and rents, and net capital gains
(other than certain amounts earned from trades or businesses).</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Monthly Conventions for Allocations of the
Fund&rsquo;s Profit and Loss and Capital Account Restatements</I>.&nbsp;&nbsp;Under Code section 704, the determination of a partner&rsquo;s
distributive share of any item of income, gain, loss, deduction or credit is governed by the applicable organizational document
unless the allocation provided by such document lacks &ldquo;substantial economic effect.&rdquo;&nbsp;&nbsp;An allocation that
lacks substantial economic effect nonetheless will be respected if it is in accordance with the partners&rsquo; interests in the
partnership, determined by taking into account all facts and circumstances relating to the economic arrangements among the partners.&nbsp;&nbsp;Subject
to the discussion below concerning certain conventions to be used by the Fund, allocations pursuant to the Trust Agreement should
be considered as having substantial economic effect or being in accordance with Shareholders&rsquo; interests in the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In situations where a partner&rsquo;s interest
in a partnership is redeemed or sold during a taxable year, the Code generally requires that partnership tax items for the year
be allocated to the partner using either an interim closing of the books or a daily proration method.&nbsp;&nbsp;The Fund intends
to allocate tax items using an interim closing of the books method under which income, gains, losses and deductions will be determined
on a monthly basis, taking into account the Fund&rsquo;s accrued income and deductions and gains and losses (both realized and
unrealized) for the month.&nbsp;&nbsp;The tax items for each month during a taxable year will then be allocated among the holders
of Shares in proportion to the number of Shares owned by them as of the close of trading on the last trading day of the preceding
month (the &ldquo;monthly allocation convention&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Under the monthly allocation convention, an
investor who disposes of a Share during the current month will be treated as disposing of the Share as of the beginning of the
first day of the immediately succeeding month.&nbsp;&nbsp;For example, an investor who buys a Share on April 10 of a year and sells
it on May 20 of the same year will be allocated all of the tax items attributable to May (because it is deemed to hold the Share
through the last day of May) but none of those attributable to April.&nbsp;&nbsp;The tax items attributable to that Share for April
will be allocated to the person who is the actual or deemed holder of the Share as of the close of trading on the last trading
day of March.&nbsp;&nbsp;Under the monthly allocation convention, an investor who purchases and sells a Share during the same month,
and therefore does not hold (and is not deemed to hold) the Share at the close of the last trading day of either that month or
the previous month, will receive no allocations with respect to that Share for any period.&nbsp;&nbsp;Accordingly, investors may
receive no allocations with respect to Shares that they actually held, or may receive allocations with respect to Shares attributable
to periods that they did not actually hold the Shares.&nbsp;&nbsp;Investors who hold a Share on the last trading day of the first
month of the Fund&rsquo;s operation will be allocated the tax items for that month, as well as the tax items for the following
month, attributable to the Share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">By investing in Shares, a U.S. Shareholder agrees
that, in the absence of new legislation, regulatory or administrative guidance, or judicial rulings to the contrary, it will file
its U.S. income tax returns in a manner that is consistent with the monthly allocation convention as described above and with the
IRS Schedule K-1 or any successor form provided to Shareholders by the Fund or the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">For any month in which a Creation Basket is
issued or a Redemption Basket is redeemed, the Fund will credit or debit the &ldquo;book&rdquo; capital accounts of existing Shareholders
with the amount of any unrealized gain or loss, respectively, on Fund assets.&nbsp;&nbsp;For this purpose, unrealized gain or loss
will be computed based on the lowest NAV of the Fund&rsquo;s assets during the month in which Shares are issued or redeemed, which
may be different than the value of the assets on the date of an issuance or redemption.&nbsp;&nbsp;The capital accounts as adjusted
in this manner will be used in making tax allocations intended to account for differences between the tax basis and fair market
value of property owned by the Fund at the time new Shares are issued or outstanding Shares are redeemed (so-called &ldquo;reverse
Code section 704(c) allocations&rdquo;).&nbsp;&nbsp;The intended effect of these adjustments is to equitably allocate among Shareholders
any unrealized appreciation or depreciation in the Fund&rsquo;s assets existing at the time of a contribution or redemption for
book and tax purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor believes that application of the
conventions and methods described above is consistent with the intent of the partnership provisions of the Code and that the resulting
allocations should have substantial economic effect or otherwise should be respected as being in accordance with Shareholders&rsquo;
interests in the Fund for U.S. federal income tax purposes.&nbsp;&nbsp;The Code and existing Treasury Regulations do not expressly
permit adoption of these conventions, although the monthly allocation convention described above is consistent with a semi-monthly
method permitted under proposed Treasury Regulations, as well as the legislative history for the provisions that requires allocations
to appropriately reflect changes in ownership interests.&nbsp;&nbsp;It is possible that the IRS could successfully challenge the
Fund&rsquo;s allocation methods on the ground that they do not satisfy the technical requirements of the Code or Treasury Regulations,
requiring a Shareholder to report a greater or lesser share of items of income, gain, loss, or deduction than if the conventions
were respected.&nbsp;&nbsp;The Sponsor is authorized to revise the Fund&rsquo;s methods to conform to the requirements of any future
Treasury Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As noted above, the conventions used by the
Fund in making tax allocations may cause a Shareholder to be allocated more or less income or loss for U.S. federal income tax
purposes than its proportionate share of the economic income or loss realized by the Fund during the period it held its Shares.&nbsp;&nbsp;This
mismatch between taxable and economic income or loss in some cases may be temporary, reversing itself in a later year when the
Shares are sold, but could be permanent.&nbsp;&nbsp;For example, a Shareholder could be allocated income accruing after it sold
its Shares, resulting in an increase in the basis of the Shares (see &ldquo;<I>Tax Basis of Shares</I>&rdquo; below).&nbsp;&nbsp;In
connection with the disposition of the Shares, the additional basis might produce a capital loss the deduction of which may be
limited (see &ldquo;<I>Limitations on Deductibility of Losses and Certain Expenses</I>&rdquo; below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Section 754 election.&nbsp;&nbsp;</I>The
Fund intends to make the election permitted by section 754 of the Code, which election is irrevocable without the consent of the
IRS.&nbsp;&nbsp;The effect of this election is that when a secondary market sale of Shares occurs, the Fund adjusts the purchaser&rsquo;s
proportionate share of the tax basis of the Fund&rsquo;s assets to fair market value, as reflected in the price paid for the Shares,
as if the purchaser had directly acquired an interest in the Fund&rsquo;s assets.&nbsp;&nbsp;The section 754 election is intended
to eliminate disparities between a partner&rsquo;s basis in its partnership interest and its share of the tax basis of the partnership&rsquo;s
assets, so that the partner&rsquo;s allocable share of taxable gain or loss on a disposition of an asset will correspond to its
share of the appreciation or depreciation in the value of the asset since it acquired its interest.&nbsp;&nbsp;Depending on the
price paid for Shares and the tax basis of the Fund&rsquo;s assets at the time of the purchase, the effect of the section 754 election
on a purchaser of Shares may be favorable or unfavorable.&nbsp;&nbsp;In order to make the appropriate basis adjustments in a cost
effective manner, the Fund will use certain simplifying conventions and assumptions.&nbsp;&nbsp;In particular, the Fund will obtain
information regarding secondary market transactions in its Shares and use this information to make adjustments to the Shareholders&rsquo;
indirect basis in Fund assets.&nbsp;&nbsp;It is possible the IRS could successfully assert that the conventions and assumptions
applied are improper and require different basis adjustments to be made, which could adversely affect some Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Section 1256 Contracts</I>.&nbsp;&nbsp;Under
the Code, special rules apply to instruments constituting &ldquo;section 1256 contracts.&rdquo;&nbsp;&nbsp;A section 1256 contract
is defined as including, in relevant part: (1) a futures contract that is traded</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">on or subject to the rules of a national securities exchange which
is registered with the SEC, a domestic board of trade designated as a contract market by the CFTC, or any other board of trade
or exchange designated by the Secretary of the Treasury, and with respect to which the amount required to be deposited and the
amount that may be withdrawn depends on a system of &ldquo;marking to market&rdquo;; and (2) a non-equity option traded on or subject
to the rules of a qualified board or exchange.&nbsp;&nbsp;Section 1256 contracts held at the end of each taxable year are treated
as if they were sold for their fair market value on the last business day of the taxable year (<I>i.e.</I>, are &ldquo;marked to
market&rdquo;).&nbsp;&nbsp;&nbsp;In addition, any gain or loss realized from a disposition, termination or marking-to-market of
a section 1256 contract is treated as long-term capital gain or loss to the extent of 60% thereof, and as short-term capital gain
or loss to the extent of 40% thereof, without regard to the actual holding period (&ldquo;60-40 treatment&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Many of the Fund&rsquo;s Wheat Futures Contracts
will qualify as &ldquo;section 1256 contracts&rdquo; under the Code.&nbsp;&nbsp;Some Other Wheat Interests that are cleared through
a qualified board or exchange will also constitute section 1256 contracts.&nbsp;&nbsp;Gain or loss recognized as a result of the
disposition, termination or marking-to-market of the Fund&rsquo;s section 1256 contracts during a calendar month will be subject
to 60-40 treatment and allocated to Shareholders in accordance with the monthly allocation convention.&nbsp;&nbsp;Under recently
enacted legislation, Cleared Wheat Swaps and other commodity swaps will most likely not qualify as section 1256 contracts.&nbsp;&nbsp;If
a commodity swap is not taxable as a section 1256 contract, any gain or loss on the swap will be recognized at the time of disposition
or termination as long-term or short-term capital gain or loss depending on the holding period of the swap in the Fund&rsquo;s
hands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Limitations on Deductibility of Losses and
Certain Expenses</I>.&nbsp;&nbsp;A number of different provisions of the Code may defer or disallow the deduction of losses or
expenses allocated to Shareholders by the Fund, including but not limited to those described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A Shareholder&rsquo;s deduction of its allocable
share of any loss of the Fund is limited to the lesser of (1) the tax basis in its Shares or (2) in the case of a Shareholder that
is an individual or a closely held corporation, the amount which the Shareholder is considered to have &ldquo;at risk&rdquo; with
respect to the Fund&rsquo;s activities.&nbsp;&nbsp;In general, the amount at risk will be a Shareholder&rsquo;s invested capital.&nbsp;&nbsp;Losses
in excess of the amount at risk must be deferred until years in which the Fund generates additional taxable income against which
to offset such carryover losses or until additional capital is placed at risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Individuals and other non-corporate taxpayers
are permitted to deduct capital losses only to the extent of their capital gains for the taxable year plus $3,000 of other income.&nbsp;&nbsp;Unused
capital losses can be carried forward and used to offset capital gains in future years.&nbsp;&nbsp;In addition, a non-corporate
taxpayer may elect to carry back net losses on section 1256 contracts to each of the three preceding years and use them to offset
section 1256 contract gains in those years, subject to certain limitations.&nbsp;&nbsp;Corporate taxpayers generally may deduct
capital losses only to the extent of capital gains, subject to special carryback and carryforward rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Otherwise deductible expenses incurred by non-corporate
taxpayers constituting &ldquo;miscellaneous itemized deductions,&rdquo; generally including investment-related expenses (other
than interest and certain other specified expenses), are deductible only to the extent they exceed 2% of the taxpayer&rsquo;s adjusted
gross income for the year.&nbsp;&nbsp;Although the matter is not free from doubt, we believe management fees the Fund pays to the
Sponsor and other expenses of the Fund constitute investment-related expenses subject to this miscellaneous itemized deduction
limitation, rather than expenses incurred in connection with a trade or business, and will report these expenses consistent with
that interpretation. The Code imposes additional limitations on the amount of certain itemized deductions allowable to individuals
with adjusted gross income in excess of certain amounts by reducing the otherwise allowable portion of such deductions by an amount
equal to the lesser of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">&#9;&bull; 3% of the individual&rsquo;s adjusted
gross income in excess of certain threshold amounts; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">&#9;&bull; 80% of the amount of certain itemized
deductions otherwise allowable for the taxable year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Non-corporate Shareholders generally may deduct
&ldquo;investment interest expense&rdquo; only to the extent of their &ldquo;net investment income.&rdquo;&nbsp;&nbsp;Investment
interest expense of a Shareholder will generally include any interest accrued by the Fund and any interest paid or accrued on direct
borrowings by a Shareholder to purchase or carry its Shares, such as interest with respect to a margin account.&nbsp;&nbsp;Net
investment income generally includes gross</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">income from property held for investment (including &ldquo;portfolio
income&rdquo; under the passive loss rules but not, absent an election, long-term capital gains or certain qualifying dividend
income) less deductible expenses other than interest directly connected with the production of investment income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">To the extent that the Fund allocates losses
or expenses to you that must be deferred or are disallowed as a result of these or other limitations in the Code, you may be taxed
on income in excess of your economic income or distributions (if any) on your Shares.&nbsp;&nbsp;As one example, you could be allocated
and required to pay tax on your share of interest income accrued by the Fund for a particular taxable year, and in the same year
allocated a share of a capital loss that you cannot deduct currently because you have insufficient capital gains against which
to offset the loss.&nbsp;&nbsp;As another example, you could be allocated and required to pay tax on your share of interest income
and capital gain for a year, but be unable to deduct some or all of your share of management fees and/or margin account interest
incurred by you with respect to your Shares.&nbsp;&nbsp;Shareholders are urged to consult their own professional tax advisor regarding
the effect of limitations under the Code on their ability to deduct your allocable share of the Fund&rsquo;s losses and expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Tax Basis of Shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A Shareholder&rsquo;s tax basis in its Shares
is important in determining (1) the amount of taxable gain or loss it will realize on the sale or other disposition of its Shares,
(2) the amount of non-taxable distributions that it may receive from the Fund, and (3) its ability to utilize its distributive
share of any losses of the Fund on its tax return.&nbsp;&nbsp;A Shareholder&rsquo;s initial tax basis of its Shares will equal
its cost for the Shares plus its share of the Fund&rsquo;s liabilities (if any) at the time of purchase.&nbsp;&nbsp;In general,
a Shareholder&rsquo;s &ldquo;share&rdquo; of those liabilities will equal the sum of (i) the entire amount of any otherwise nonrecourse
liability of the Fund as to which the Shareholder or an affiliate of the Shareholder is the creditor (a &ldquo;partner nonrecourse
liability&rdquo;) and (ii) a pro rata share of any nonrecourse liabilities of the Fund that are not partner nonrecourse liabilities
as to any Shareholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A Shareholder&rsquo;s tax basis in its Shares
generally will be (1) increased by (a) its allocable share of the Fund&rsquo;s taxable income and gain and (b) any additional contributions
by the Shareholder to the Fund and (2) decreased (but not below zero) by (a) its allocable share of the Fund&rsquo;s tax deductions
and losses and (b) any distributions by the Fund to the Shareholder.&nbsp;&nbsp;For this purpose, an increase in a Shareholder&rsquo;s
share of the Fund&rsquo;s liabilities will be treated as a contribution of cash by the Shareholder to the Fund and a decrease in
that share will be treated as a distribution of cash by the Fund to the Shareholder.&nbsp;&nbsp;Pursuant to certain IRS rulings,
a Shareholder will be required to maintain a single, &ldquo;unified&rdquo; basis in all Shares that it owns.&nbsp;&nbsp;As a result,
when a Shareholder that acquired its Shares at different prices sells less than all of its Shares, such Shareholder will not be
entitled to specify particular Shares (<I>e.g.</I>, those with a higher basis) as having been sold.&nbsp;&nbsp;Rather, it must
determine its gain or loss on the sale by using an &ldquo;equitable apportionment&rdquo; method to allocate a portion of its unified
basis in its Shares to the Shares sold.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Treatment of Fund Distributions</I>.&nbsp;&nbsp;If
the Fund makes non-liquidating distributions to Shareholders, such distributions generally will not be taxable to the Shareholders
for federal income tax purposes except to the extent that the sum of (i) the amount of cash and (ii) the fair market value of marketable
securities distributed exceeds the Shareholder&rsquo;s adjusted basis of its interest in the Fund immediately before the distribution.&nbsp;&nbsp;Any
cash distributions in excess of a Shareholder&rsquo;s tax basis generally will be treated as gain from the sale or exchange of
Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Constructive Termination of the Partnership</I>.&nbsp;&nbsp;The
Fund will be considered to have been terminated for tax purposes if there is a sale or exchange of 50% or more of the total interests
in its Shares within a 12-month period.&nbsp;&nbsp;A termination would result in the closing of the Fund&rsquo;s taxable year for
all Shareholders.&nbsp;&nbsp;In the case of a Shareholder reporting on a taxable year other than a fiscal year ending December
31, the closing of the Fund&rsquo;s taxable year may result in more than 12 months of our taxable income or loss being includable
in its taxable income for the year of termination.&nbsp;&nbsp;We would be required to make new tax elections after a termination.&nbsp;&nbsp;A
termination could result in tax penalties if we were unable to determine that the termination had occurred.&nbsp;&nbsp;Moreover,
a termination might either accelerate the application of, or subject us to, any tax legislation enacted before the termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>




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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Tax Consequences of Disposition of Share</I></B>s</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If a Shareholder sells its Shares, it will recognize
gain or loss equal to the difference between the amount realized and its adjusted tax basis for the Shares sold.&nbsp;&nbsp;A Shareholder&rsquo;s
amount realized will be the sum of the cash or the fair market value of other property received plus its share of any Fund debt
outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Gain or loss recognized by a Shareholder on
the sale or exchange of Shares held for more than one year will generally be taxable as long-term capital gain or loss; otherwise,
such gain or loss will generally be taxable as short-term capital gain or loss.&nbsp;&nbsp;A special election is available under
the Treasury Regulations that allows Shareholders to identify and use the actual holding periods for the Shares sold for purposes
of determining whether the gain or loss recognized on a sale of Shares will give rise to long-term or short-term capital gain or
loss.&nbsp;&nbsp;It is expected that most Shareholders will be eligible to elect, and generally will elect, to identify and use
the actual holding period for Shares sold.&nbsp;&nbsp;If a Shareholder fails to make the election or is not able to identify the
holding periods of the Shares sold, the Shareholder will have a split holding period in the Shares sold.&nbsp;&nbsp;Under such
circumstances, a Shareholder will be required to determine its holding period in the Shares sold by first determining the portion
of its entire interest in the Fund that would give rise to long-term capital gain or loss if its entire interest were sold and
the portion that would give rise to short-term capital gain or loss if the entire interest were sold.&nbsp;&nbsp;The Shareholder
would then treat each Share sold as giving rise to long-term capital gain or loss and short-term capital gain or loss in the same
proportions as if it had sold its entire interest in the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Under Section 751 of the Code, a portion of
a Shareholder&rsquo;s gain or loss from the sale of Shares (regardless of the holding period for such Shares), will be separately
computed and taxed as ordinary income or loss to the extent attributable to &ldquo;unrealized receivables&rdquo; or &ldquo;inventory&rdquo;
owned by the Fund.&nbsp;&nbsp;The term &ldquo;unrealized receivables&rdquo; includes, among other things, market discount bonds
and short-term debt instruments to the extent such items would give rise to ordinary income if sold by the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If some or all of a Shareholder&rsquo;s Shares
are lent by its broker or other agent to a third party&nbsp;&mdash;&nbsp;for example, for use by the third party in covering a
short sale&nbsp;&mdash;&nbsp;the Shareholder may be considered as having made a taxable disposition of the loaned Shares, in which
case&nbsp;&mdash;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the Shareholder may recognize taxable gain or loss to the same extent as if it had sold the Shares for cash;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any of the income, gain, loss or deduction allocable to those Shares during the period of the loan is not reportable by the Shareholder for tax purposes; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any distributions the Shareholder receives with respect to the Shares under the loan agreement will be fully taxable to the Shareholder, most likely as ordinary income.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Shareholders desiring to avoid these and other possible consequences
of a deemed disposition of their Shares should consider modifying any applicable brokerage account agreements to prohibit the lending
of their Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Other Tax Matters</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Information Reporting</I>.&nbsp;&nbsp;The
Fund provides tax information to the Shareholders and to the IRS.&nbsp;&nbsp;Shareholders of the Fund are treated as partners for
federal income tax purposes.&nbsp;&nbsp;Accordingly, the Fund will furnish Shareholders each year with tax information on IRS Schedule
K-1 (Form 1065), which will be used by the Shareholders in completing their tax returns.&nbsp;&nbsp;The IRS has ruled that assignees
of partnership interests who have not been admitted to a partnership as partners but who have the capacity to exercise substantial
dominion and control over the assigned partnership interests will be considered partners for federal income tax purposes.&nbsp;&nbsp;On
the basis of this ruling, except as otherwise provided herein, we will treat as a Shareholder any person whose shares are held
on their behalf by a broker or other nominee if that person has the right to direct the nominee in the exercise of all substantive
rights attendant to the ownership of the Shares.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;Persons who hold an interest in the Fund
as a nominee for another person are required to furnish to us the following information: (1) the name, address and taxpayer identification
number of the beneficial owner and the nominee; (2) whether the beneficial owner is (a) a person that is not a U.S. person, (b)
a foreign government, an international organization or any wholly-owned agency or instrumentality of either of the foregoing, or
(c) a tax-exempt entity; (3) the number and a description of Shares acquired or transferred for the beneficial owner; and (4) certain
information including the dates of acquisitions and transfers, means of acquisitions and transfers, and acquisition cost for purchases,
as well as the amount of net proceeds from sales.&nbsp;&nbsp;Brokers and financial institutions are required to furnish additional
information, including whether they are U.S. persons and certain information on Shares they acquire, hold or transfer for their
own account.&nbsp;&nbsp;A penalty of $100 per failure, up to a maximum of $1,500,000 per calendar year, is imposed by the Code
for failure to report such information to the Fund. The nominee is required to supply the beneficial owner of the Shares with the
information furnished to the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Partnership Audit Procedures</I>.&nbsp;&nbsp;The
IRS may audit the federal income tax returns filed by the Fund.&nbsp;&nbsp;Adjustments resulting from any such audit may require
a Shareholder to adjust a prior year&rsquo;s tax liability and could result in an audit of the Shareholder&rsquo;s own return.&nbsp;&nbsp;Any
audit of a Shareholder&rsquo;s return could result in adjustments of non-partnership items as well as Fund items.&nbsp;&nbsp;Partnerships
are generally treated as separate entities for purposes of federal tax audits, judicial review of administrative adjustments by
the IRS, and tax settlement proceedings.&nbsp;&nbsp;The tax treatment of partnership items of income, gain, loss and deduction
are determined at the partnership level in a unified partnership proceeding rather than in separate proceedings with the partners.&nbsp;&nbsp;The
Code provides for one partner to be designated as the &ldquo;tax matters partner&rdquo; and to represent the partnership purposes
of these proceedings.&nbsp;&nbsp;The Trust Agreement appoints the Sponsor as the tax matters partner of the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Reportable Transaction Rules</I>.&nbsp;&nbsp;In
certain circumstances the Code and Treasury Regulations require that the IRS be notified of transactions through a disclosure statement
attached to a taxpayer&rsquo;s United States federal income tax return.&nbsp;&nbsp;These disclosure rules may apply to transactions
irrespective of whether they are structured to achieve particular tax benefits.&nbsp;&nbsp;They could require disclosure by the
Trust or Shareholders if a Shareholder incurs a loss in excess of a specified threshold from a sale or redemption of its Shares
and possibly in other circumstances.&nbsp;&nbsp;While these rules generally do not require disclosure of a loss recognized on the
disposition of an asset in which the taxpayer has a &ldquo;qualifying basis&rdquo; (generally a basis equal to the amount of cash
paid by the taxpayer for such asset), they apply to a loss recognized with respect to interests in a pass-through entity, such
as the Shares, even if the taxpayer&rsquo;s basis in such interests is equal to the amount of cash it paid.&nbsp;&nbsp;In addition,
significant monetary penalties may be imposed in connection with a failure to comply with these reporting requirements.&nbsp;&nbsp;Investors
should consult their own tax advisor concerning the application of these reporting requirements to their specific situation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Tax-Exempt Organizations.</I>&nbsp;&nbsp;Subject
to numerous exceptions, qualified retirement plans and individual retirement accounts, charitable organizations and certain other
organizations that otherwise are exempt from U.S. federal income tax (collectively &ldquo;exempt organizations&rdquo;) nonetheless
are subject to the tax on unrelated business taxable income (&ldquo;UBTI&rdquo;).&nbsp;&nbsp;Generally, UBTI means the gross income
derived by an exempt organization from a trade or business that it regularly carries on, the conduct of which is not substantially
related to the exercise or performance of its exempt purpose or function, less allowable deductions directly connected with that
trade or business.&nbsp;&nbsp;If the Fund were to regularly carry on (directly or indirectly) a trade or business that is unrelated
with respect to an exempt organization Shareholder, then in computing its UBTI, the Shareholder must include its share of (1) the
Fund&rsquo;s gross income from the unrelated trade or business, whether or not distributed, and (2) the Fund&rsquo;s allowable
deductions directly connected with that gross income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">UBTI generally does not include dividends, interest,
or payments with respect to securities loans and gains from the sale of property (other than property held for sale to customers
in the ordinary course of a trade or business).&nbsp;&nbsp;Nonetheless, income on, and gain from the disposition of, &ldquo;debt-financed
property&rdquo; is UBTI.&nbsp;&nbsp;Debt-financed property generally is income-producing property (including securities), the use
of which is not substantially related to the exempt organization&rsquo;s tax-exempt purposes, and with respect to which there is
&ldquo;acquisition indebtedness&rdquo; at any time during the taxable year (or, if the property was disposed of during the taxable
year, the 12-month period ending with the disposition).&nbsp;&nbsp;Acquisition indebtedness includes debt incurred</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">to acquire property, debt incurred before the acquisition of property
if the debt would not have been incurred but for the acquisition, and debt incurred subsequent to the acquisition of property if
the debt would not have been incurred but for the acquisition and at the time of acquisition the incurrence of debt was foreseeable.&nbsp;&nbsp;The
portion of the income from debt-financed property attributable to acquisition indebtedness is equal to the ratio of the average
outstanding principal amount of acquisition indebtedness over the average adjusted basis of the property for the year.&nbsp;&nbsp;The
Fund currently does not anticipate that it will borrow money to acquire investments; however, the Fund cannot be certain that it
will not borrow for such purpose in the future.&nbsp;&nbsp;In addition, an exempt organization Shareholder that incurs acquisition
indebtedness to purchase its Shares in the Fund may have UBTI.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The federal tax rate applicable to an exempt
organization Shareholder on its UBTI generally will be either the corporate or trust tax rate, depending upon the Shareholder&rsquo;s
form of organization.&nbsp;&nbsp;The Fund may report to each such Shareholder information as to the portion, if any, of the Shareholder&rsquo;s
income and gains from the Fund for any year that will be treated as UBTI; the calculation of that amount is complex, and there
can be no assurance that the Fund&rsquo;s calculation of UBTI will be accepted by the IRS.&nbsp;&nbsp;An exempt organization Shareholder
will be required to make payments of estimated federal income tax with respect to its UBTI.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Regulated Investment Companies.</I>&nbsp;&nbsp;Interests
in and income from &ldquo;qualified publicly traded partnerships&rdquo; satisfying certain gross income tests are treated as qualifying
assets and income, respectively, for purposes of determining eligibility for regulated investment company (&ldquo;RIC&rdquo;) status.&nbsp;&nbsp;A
RIC may invest up to 25% of its assets in interests in a qualified publicly traded partnership.&nbsp;&nbsp;The determination of
whether a publicly traded partnership such as the Fund is a qualified publicly traded partnership is made on an annual basis.&nbsp;&nbsp;The
Fund expects to be a qualified publicly traded partnership in each of its taxable years.&nbsp;&nbsp;However, such qualification
is not assured.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Non-U.S. Shareholders</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Generally, non-U.S. persons who derive U.S.
source income or gain from investing or engaging in a U.S. business are taxable on two categories of income.&nbsp;&nbsp;The first
category consists of amounts that are fixed or determinable, annual or periodic income, such as interest, dividends and rent that
are not connected with the operation of a U.S. trade or business (&ldquo;FDAP&rdquo;).&nbsp;&nbsp;The second category is income
that is effectively connected with the conduct of a U.S. trade or business (&ldquo;ECI&rdquo;).&nbsp;&nbsp;FDAP income (other than
interest that is considered &ldquo;portfolio interest;&rdquo; as discussed below) is generally subject to a 30% withholding tax,
which may be reduced for certain categories of income by a treaty between the U.S. and the recipient&rsquo;s country of residence.&nbsp;&nbsp;In
contrast, ECI is generally subject to U.S. tax on a net basis at graduated rates upon the filing of a U.S. tax return.&nbsp;&nbsp;Where
a non-U.S. person has ECI as a result of an investment in a partnership, the ECI is currently subject to a withholding tax at a
rate of 39.6% for individual Shareholders and a rate of 35% for corporate Shareholders.&nbsp;&nbsp;The tax withholding on ECI,
which is the highest tax rate under Code section 1 for non-corporate Non-U.S. Shareholders and Code section 11(b) for corporate
Non-U.S. Shareholders, may increase in future tax years if tax rates increase from their current levels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Withholding on Allocations and Distributions</I>.&nbsp;&nbsp;The
Code provides that a non-U.S. person who is a partner in a partnership that is engaged in a U.S. trade or business during a taxable
year will also be considered to be engaged in a U.S. trade or business during that year.&nbsp;&nbsp;Classifying an activity by
a partnership as an investment or an operating business is a factual determination.&nbsp;&nbsp;Under certain safe harbors in the
Code, an investment fund whose activities consist of trading in stocks, securities, or commodities for its own account generally
will not be considered to be engaged in a U.S. trade or business unless it is a dealer is such stocks, securities, or commodities.&nbsp;&nbsp;This
safe harbor applies to investments in commodities only if the commodities are of a kind customarily dealt in on an organized commodity
exchange and if the transaction is of a kind customarily consummated at such place.&nbsp;&nbsp;Although the matter is not free
from doubt, the Fund believes that the activities directly conducted by the Fund do not result in the Fund being engaged in a trade
or business within in the United States.&nbsp;&nbsp;However, there can be no assurance that the IRS would not successfully assert
that the Fund&rsquo;s activities constitute a U.S. trade or business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In the event that the Fund&rsquo;s activities
were considered to constitute a U.S. trade or business, the Fund would be required to withhold at the highest rate specified in
Code section 1 (currently 39.6%) on allocations of</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">our income to non-corporate Non-U.S. Shareholders and the highest
rate specified in Code section 11(b) (currently 35%) on allocations of our income to corporate Non-U.S. Shareholders when such
income is distributed.&nbsp;&nbsp;A Non-U.S. Shareholder with ECI will generally be required to file a U.S. federal income tax
return, and the return will provide the Non-U.S. Shareholder with the mechanism to seek a refund of any withholding in excess of
such Shareholder&rsquo;s actual U.S. federal income tax liability.&nbsp;&nbsp;Any amount withheld by the Fund will be treated as
a distribution to the Non-U.S. Shareholder to the extent possible.&nbsp;&nbsp;In some cases, the Fund may not be able to match
the economic cost of satisfying its withholding obligations to a particular Non-U.S. Shareholder, which may result in said cost
being borne by the Fund, generally, and accordingly, by all Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If the Fund is not treated as engaged in a U.S.
trade or business, a Non-U.S. Shareholder may nevertheless be treated as having FDAP income, which would be subject to a 30% withholding
tax (possibly subject to reduction by treaty), with respect to some or all of its distributions from the Fund or its allocable
share of Fund income.&nbsp;&nbsp;Amounts withheld on behalf of a Non-U.S. Shareholder will be treated as being distributed to such
Shareholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">To the extent any interest income allocated
to a Non-U.S. Shareholder that otherwise constitutes FDAP is considered &ldquo;portfolio interest,&rdquo; neither the allocation
of such interest income to the non-U.S. Shareholder nor a subsequent distribution of such interest income to the non-U.S. Shareholder
will be subject to withholding, provided that the Non-U.S. Shareholder is not otherwise engaged in a trade or business in the U.S.
and provides the Fund with a timely and properly completed and executed IRS Form W-8BEN or other applicable form.&nbsp;&nbsp;In
general, portfolio interest is interest paid on debt obligations issued in registered form, unless the recipient owns 10% or more
of the voting power of the issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trust expects that most of the Fund&rsquo;s
interest income will qualify as portfolio interest.&nbsp;&nbsp;In order for the Fund to avoid withholding on any interest income
allocable to Non-U.S. Shareholders that would qualify as portfolio interest, it will be necessary for all Non-U.S. Shareholders
to provide the Fund with a timely and properly completed and executed Form W-8BEN (or other applicable form).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Gain from Sale of Shares</I>.&nbsp;&nbsp;Gain
from the sale or exchange of Shares may be taxable to a Non-U.S. Shareholder if the Non-U.S. Shareholder is a nonresident alien
individual who is present in the U.S. for 183 days or more during the taxable year.&nbsp;&nbsp;In such case, the nonresident alien
individual will be subject to a 30% withholding tax on the amount of such individual&rsquo;s gain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Prospective Non-U.S. Shareholders should
consult their own tax advisor regarding these and other tax&nbsp;&nbsp;issues unique to Non-U.S. Shareholders.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Backup Withholding</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Fund may be required to withhold U.S. federal
income tax (&ldquo;backup withholding&rdquo;) from payments to: (1) any Shareholder who fails to furnish the Fund with his, her
or its correct taxpayer identification number or a certificate that the Shareholder is exempt from backup withholding, and (2)
any Shareholder with respect to whom the IRS notifies the Fund that the Shareholder is subject to backup withholding.&nbsp;&nbsp;Backup
withholding is not an additional tax and may be returned or credited against a taxpayer&rsquo;s regular federal income tax liability
if appropriate information is provided to the IRS.&nbsp;&nbsp;The backup withholding rate is the fourth lowest rate applicable
to individuals under Code section 1(c), and may increase in future tax years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Other Tax Considerations</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In addition to federal income taxes, Shareholders
may be subject to other taxes, such as state and local income taxes, unincorporated business taxes, business franchise taxes, and
estate, inheritance or intangible taxes that may be imposed by the various jurisdictions in which the Fund does business or owns
property or where the Shareholders reside.&nbsp;&nbsp;Although an analysis of those various taxes is not presented here, each prospective
Shareholder should consider their potential impact on its investment in the Fund.&nbsp;&nbsp;It is each Shareholder&rsquo;s responsibility
to file the appropriate U.S. federal, state, local, and foreign tax returns.&nbsp;&nbsp;Reed Smith has not</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">provided an opinion concerning any aspects of state, local or foreign
tax or U.S. federal tax other than those U.S. federal income tax issues discussed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Recently enacted legislation that becomes
effective after June 30, 2014, generally imposes a 30% withholding tax on payments of certain types of income to foreign financial
institutions that fail to enter into an agreement with the United States Treasury to report certain required information with respect
to accounts held by U.S. persons (or held by foreign entities that have U.S. persons as substantial owners). The IRS and the Treasury
Department have announced that the full implementation of these rules will be phased in over the next several years, including
the obligation to withhold. The types of income subject to the tax include U.S.-source interest and dividends and the gross proceeds
from the sale of any property that could produce U.S.-source interest or dividends.&nbsp;&nbsp;The information required to be reported
includes the identity and taxpayer identification number of each account holder that is a U.S. person and transaction activity
within the holder&rsquo;s account.&nbsp;&nbsp;In addition, subject to certain exceptions, this legislation also imposes a 30% withholding
tax on payments to foreign entities that are not financial institutions unless the foreign entity certifies that it does not have
a greater than 10% U.S. owner or provides the withholding agent with identifying information on each greater than 10% U.S. owner.&nbsp;&nbsp;When
these provisions become effective, depending on the status of a Non-U.S. Shareholder and the status of the intermediaries through
which it holds Shares, a Non-U.S. Shareholder could be subject to this 30% withholding tax with respect to distributions on its
Shares and proceeds from the sale of its Shares.&nbsp;&nbsp;Under certain circumstances, a Non-U.S. Shareholder might be eligible
for refund or credit of such taxes. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_060"></A>Investment By ERISA Accounts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>General</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Most employee benefit plans and individual retirement
accounts (&ldquo;IRAs&rdquo;) are subject to the Employee Retirement Income Security Act of 1974, as amended (&ldquo;ERISA&rdquo;),
or the Code, or both.&nbsp;&nbsp;This section discusses certain considerations that arise under ERISA and the Code that a fiduciary
of an employee benefit plan as defined in ERISA or a plan as defined in Section 4975 of the Code who has investment discretion
should take into account before deciding to invest the plan&rsquo;s assets in the Fund.&nbsp;&nbsp;Employee benefit plans under
ERISA and plans under the Code are collectively referred to below as &ldquo;plans,&rdquo; and fiduciaries with investment discretion
are referred to below as &ldquo;plan fiduciaries.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This summary is based on the provisions of ERISA
and the Code as of the date hereof.&nbsp;&nbsp;This summary is not intended to be complete, but only to address certain questions
under ERISA and the Code likely to be raised by your advisors.&nbsp;&nbsp;The summary does not include state or local law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 8pt">&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><B>Potential plan investors are urged to consult with their own professional advisors concerning
the appropriateness of an investment in the Fund and the manner in which Shares should be purchased.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Special Investment Considerations</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Each plan fiduciary must consider the facts
and circumstances that are relevant to an investment in the Fund, including the role that an investment in the Fund would play
in the plan&rsquo;s overall investment portfolio.&nbsp;&nbsp;Each plan fiduciary, before deciding to invest in the Fund, must be
satisfied that the investment is prudent for the plan, that the investments of the plan are diversified so as to minimize the risk
of large losses, and that an investment in the Fund complies with the terms of the plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>The Fund and Plan Assets</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A regulation issued under ERISA contains rules
for determining when an investment by a plan in an equity interest of a statutory trust will result in the underlying assets of
the statutory trust being deemed plan assets for purposes of ERISA and Section 4975 of the Code.&nbsp;&nbsp;Those rules provide
that assets of a statutory trust will not be plan assets of a plan that purchases an equity interest in the statutory trust if
the equity interest purchased is a publicly-offered security.&nbsp;&nbsp;If the underlying assets of a statutory trust are considered
to be assets</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">of any plan for purposes of ERISA or Section 4975 of the Code, the
operations of that trust would be subject to and, in some cases, limited by the provisions of ERISA and Section 4975 of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The publicly-offered security exception described
above applies if the equity interest is a security that is:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD>freely transferable (determined based on the relevant
facts and circumstances);</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD>part of a class of securities that is widely held (meaning
that the class of securities is owned by 100 or more investors independent of the issuer and of each other); and</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD>either (a) part of a class of securities registered
under Section 12(b) or 12(g) of the Exchange Act or (b) sold to the plan as part of a public offering pursuant to an effective
registration statement under the 1933 Act and the class of which such security is a part is registered under the Exchange Act
within 120 days (or such later time as may be allowed by the SEC) after the end of the fiscal year of the issuer in which the
offering of such security occurred.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The plan asset regulations under ERISA state
that the determination of whether a security is freely transferable is to be made based on all the relevant facts and circumstances.&nbsp;&nbsp;In
the case of a security that is part of an offering in which the minimum investment is $10,000 or less, the following requirements,
alone or in combination, ordinarily will not affect a finding that the security is freely transferable: (1) a requirement that
no transfer or assignment of the security or rights relating to the security be made that would violate any federal or state law;
and (2) a requirement that no transfer or assignment be made without advance written notice given to the entity that issued the
security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Sponsor believes that the conditions described
above are satisfied with respect to the Shares.&nbsp;&nbsp;The Sponsor believes that the Shares therefore constitute publicly-offered
securities, and the underlying assets of the Fund should not be considered to constitute plan assets of any plan that purchases
Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Prohibited Transactions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">ERISA and the Code generally prohibit certain
transactions involving a plan and persons who have certain specified relationships to the plan.&nbsp;&nbsp;In general, Shares may
not be purchased with the assets of a plan if the Sponsor, the clearing brokers, the trading advisors (if any), or any of their
affiliates, agents or employees either:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">exercise any discretionary
authority or discretionary control with respect to management of the plan;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">exercise any authority
or control with respect to management or disposition of the assets of the plan;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">render investment advice
for a fee or other compensation, direct or indirect, with respect to any moneys or other property of the plan;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">have any authority or
responsibility to render investment advice with respect to any monies or other property of the plan; or</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">have any discretionary
authority or discretionary responsibility in the administration of the plan.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Also, a prohibited transaction may occur under
ERISA or the Code when circumstances indicate that (1) the investment in Shares is made or retained for the purpose of avoiding
application of the fiduciary standards of ERISA, (2) the investment in Shares constitutes an arrangement under which the Fund is
expected to engage in transactions that would otherwise be prohibited if entered into directly by the plan purchasing the Shares,
(3) the investing plan, by itself, has the authority or influence to cause the Fund to engage in such transactions, or (4) a person
who is prohibited from transacting with the investing plan may, but only with the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">aid of certain of its affiliates and the investing plan, cause the
Fund to engage in such transactions with such person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Special IRA Rules</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">IRAs are not subject to ERISA&rsquo;s fiduciary
standards, but are subject to their own rules, including the prohibited transaction rules of Section 4975 of the Code, which generally
mirror ERISA&rsquo;s prohibited transaction rules.&nbsp;&nbsp;For example, IRAs are subject to special custody rules and must maintain
a qualifying IRA custodial arrangement separate and distinct from the Fund and its custodial arrangement.&nbsp;&nbsp;If a separate
qualifying custodial arrangement is not maintained, an investment in the Shares will be treated as a distribution from the IRA.&nbsp;&nbsp;Second,
IRAs are prohibited from investing in certain commingled investments, and the Sponsor makes no representation regarding whether
an investment in Shares is an inappropriate commingled investment for an IRA.&nbsp;&nbsp;Third, in applying the prohibited transaction
provisions of Section 4975 of the Code, in addition to the rules summarized above, the individual for whose benefit the IRA is
maintained is also treated as the creator of the IRA.&nbsp;&nbsp;For example, if the owner or beneficiary of an IRA enters into
any transaction, arrangement, or agreement involving the assets of his or her IRA to benefit the IRA owner or beneficiary (or his
or her relatives or business affiliates) personally, or with the understanding that such benefit will occur, directly or indirectly,
such transaction could give rise to a prohibited transaction that is not exempted by any available exemption.&nbsp;&nbsp;Moreover,
in the case of an IRA, the consequences of a non-exempt prohibited transaction are that the IRA&rsquo;s assets will be treated
as if they were distributed, causing immediate taxation of the assets (including any early distribution penalty tax applicable
under Section 72 of the Code), in addition to any other fines or penalties that may apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Exempt Plans</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Certain employee benefit plans may be governmental
plans or church plans.&nbsp;&nbsp;Governmental plans and church plans are generally not subject to ERISA, nor do the prohibited
transaction provisions described above apply to them.&nbsp;&nbsp;These plans are, however, subject to prohibitions against certain
related-party transactions under Section 503 of the Code, which are similar to the prohibited transaction rules described above.&nbsp;&nbsp;In
addition, the fiduciary of any governmental or church plan must consider any applicable state or local laws and any restrictions
and duties of common law imposed upon the plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">No view is expressed as to whether an investment
in the Fund (and any continued investment in the Fund), or the operation and administration of the fund, is appropriate or permissible
for any governmental plan or church plan under Code Section 503, or under any state, county, local or other law relating to that
type of plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Allowing an investment in the Fund is not
to be construed as a representation by the Trust, the Fund, the Sponsor, any trading advisor, any clearing broker, the Distributor
or legal counsel or other advisors to such parties or any other party that this investment meets some or all of the relevant legal
requirements with respect to investments by any particular plan or that this investment is appropriate for any such particular
plan.&nbsp;&nbsp;The person with investment discretion should consult with the plan&rsquo;s attorney and financial advisors as
to the propriety of an investment in the Fund in light of the circumstances of the particular plan, current tax law and ERISA.</B></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_061"></A>INCORPORATION BY REFERENCE OF CERTAIN
INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We are a reporting company and file annual,
quarterly and current reports and other information with the SEC. The rules of the SEC allow us to &ldquo;incorporate by reference&rdquo;
information that we file with them, which means that we can disclose important information to you by referring you to those documents.
The information incorporated by reference is an important part of this prospectus. This prospectus incorporates by reference the
documents set forth below that have been previously filed with the SEC:<BR>
<BR>
</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol"> &middot; </FONT></TD><TD><FONT STYLE="font-size: 10pt"> our Annual Report
on Form 10-K for the fiscal year ended December 31, <FONT STYLE="text-underline-style: double">2013,</FONT> filed with the SEC
on <FONT STYLE="text-underline-style: double">March 17, 2014</FONT>; and </FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font: 10pt Symbol"> &middot; </FONT></TD><TD><FONT STYLE="font-size: 10pt"> our Current Report
on Form 8-K filed with the SEC on April <FONT STYLE="text-underline-style: double">____, 2014.</FONT> </FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any statement contained in a document incorporated
by reference in this prospectus shall be deemed to be modified or superseded for purposes of this prospectus to the extent that
a statement contained in this prospectus or in any other subsequently filed document that also is or is deemed to be incorporated
by reference in this prospectus modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this prospectus.<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We will provide to each person to whom a prospectus
is delivered, including any beneficial owner, a copy of these filings at no cost, upon written or oral request at the following
address or telephone number:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Teucrium Wheat Fund<BR>
Attention: Barbara Riker<BR>
232 Hidden Lake Road, Building A<BR>
Brattleboro, Vermont 05301<BR>
(802) 257-1617</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our Internet website is <U>www.teucriumwheatfund.com</U>.
We make our electronic filings with the SEC, including our annual reports on Form 10-K, quarterly reports on Form 10-Q, current
reports on Form 8-K and amendments to these reports available on our website free of charge as soon as practicable after we file
or furnish them with the SEC. The information contained on our website is not incorporated by reference in this prospectus and
should not be considered a part of this prospectus.<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_062"></A>INFORMATION YOU SHOULD KNOW</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This prospectus contains information you should
consider when making an investment decision about the Shares.&nbsp;&nbsp;You should rely only on the information contained in this
prospectus or any applicable prospectus supplement.&nbsp;&nbsp;None of the Trust, the Fund or the Sponsor has authorized any person
to provide you with different information and, if anyone provides you with different or inconsistent information, you should not
rely on it.&nbsp;&nbsp;This prospectus is not an offer to sell the Shares in any jurisdiction where the offer or sale of the Shares
is not permitted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The information contained in this prospectus
was obtained from us and other sources believed by us to be reliable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">You should disregard anything we said in an
earlier document that is inconsistent with what is included in this prospectus or any applicable prospectus supplement.&nbsp;&nbsp;Where
the context requires, when we refer to this &ldquo;prospectus,&rdquo; we are referring to this prospectus and (if applicable) the
relevant prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">You should not assume that the information in
this prospectus or any applicable prospectus supplement is current as of any date other than the date on the front page of this
prospectus or the date on the front page of any applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We include cross references in this prospectus
to captions in these materials where you can find further related discussions.&nbsp;&nbsp;The table of contents tells you where
to find these captions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_063"></A>WHERE YOU CAN FIND MORE INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trust has filed on behalf of the Fund a
registration statement on Form S-1 with the SEC under the 1933 Act.&nbsp;&nbsp;This prospectus does not contain all of the information
set forth in the registration statement (including the exhibits to the registration statement), parts of which have been omitted
in accordance with the rules and regulations of the SEC.&nbsp;&nbsp;For further information about the Trust, the Fund or the Shares,
please refer to the registration statement, which you may inspect, without charge, at the public reference facilities of the SEC
at the below address or online at www.sec.gov, or obtain at prescribed rates from the public reference facilities of the SEC at
the below address.&nbsp;&nbsp;Information about the Trust, the Fund and the Shares can also be obtained from the Fund&rsquo;s website,
which is <B><U>www.teucriumweatfund.com</U></B>.&nbsp;&nbsp;The Fund&rsquo;s website address is only provided here as a convenience
to you and the information contained on or connected to the website is not part of this prospectus or the registration statement
of which this prospectus is part.&nbsp;&nbsp;The Trust is subject to the informational requirements of the Exchange Act and will
file certain reports and other information with the SEC under the Exchange Act.&nbsp;&nbsp;The Sponsor will file an updated prospectus
annually for the Fund pursuant to the 1933 Act.&nbsp;&nbsp;The reports and other information can be inspected at the public reference
facilities of the SEC located at 100 F Street, N.E., Washington, DC 20549 and online at www.sec.gov. You may also obtain copies
of such material from the public reference facilities of the SEC at 100 F Street, NE, Washington, D.C. 20549, at prescribed rates.
You may obtain more information concerning the operation of the public reference facilities of the SEC by calling the SEC at 1-800-SEC-0330
or visiting online at <U>www.sec.gov</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_064"></A>APPENDIX A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Glossary of Defined Terms</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In this prospectus, each of the following terms
have the meanings set forth after such term:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Administrator: </B>The Bank of New York Mellon</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Authorized Purchaser:&nbsp;&nbsp;</B>One
that purchases or redeems Creation Baskets or Redemption Baskets, respectively, from or to the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Benchmark</B>:&nbsp;&nbsp;A weighted average
of daily changes in the closing settlement prices of (1) the second-to-expire Wheat Futures Contract traded on the CBOT, weighted
35%, (2) the third-to-expire CBOT Wheat Futures Contract, weighted 30%, and (3) the CBOT Wheat Futures Contract expiring in the
December following the expiration month of third-to-expire contract, weighted 35%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Benchmark Component Futures Contracts:</B>&nbsp;&nbsp;The
three Wheat Futures Contracts that at any given time make up the Benchmark.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Business Day:&nbsp;&nbsp;</B>Any day other
than a day when any of the NYSE Arca, the CBOT or the New York Stock Exchange is closed for regular trading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>CFTC:&nbsp;&nbsp;</B>Commodity Futures Trading
Commission, an independent agency with the mandate to regulate commodity futures and options in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Chicago Board of Trade (CBOT):&nbsp;&nbsp;</B>The
primary exchange on which Wheat Futures Contracts are traded in the U.S.&nbsp;&nbsp;The Fund expressly disclaims any association
with the CBOT or endorsement of the Fund by the CBOT and acknowledges that &ldquo;CBOT&rdquo; and &ldquo;Chicago Board of Trade&rdquo;
are registered trademarks of such exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Cleared Wheat Swap:</B>&nbsp;&nbsp;A wheat-based
swap agreement that is cleared through the CBOT or its affiliated provider of clearing services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Code: </B>Internal Revenue Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Commodity Pool:&nbsp;&nbsp;</B>An enterprise
in which several individuals contribute funds in order to trade futures contracts or options on futures contracts collectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Commodity Pool Operator or CPO:&nbsp;&nbsp;</B>Any
person engaged in a business which is of the nature of an investment trust, syndicate, or similar enterprise, and who, in connection
therewith, solicits, accepts, or receives from others, funds, securities, or property, either directly or through capital contributions,
the sale of stock or other forms of securities, or otherwise, for the purpose of trading in any commodity for future delivery or
commodity option on or subject to the rules of any contract market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Creation Basket:&nbsp;&nbsp;</B>A block of
25,000 Shares used by the Fund to issue Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Custodian:&nbsp;&nbsp;</B>The Bank of New
York Mellon</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>DTC:&nbsp;&nbsp;</B>The Depository Trust
Company.&nbsp;&nbsp;DTC will act as the securities depository for the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>DTC Participant:&nbsp;&nbsp;</B>An entity
that has an account with DTC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>DTEF:&nbsp;&nbsp;</B>A derivatives transaction
execution facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Exchange Act:&nbsp;&nbsp;</B>The Securities
Exchange Act of 1934.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Exchange for Risk:&nbsp;&nbsp;</B>A privately
negotiated and simultaneous exchange of a futures contract position for a swap or other over-the-counter instrument on the corresponding
commodity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>FINRA:&nbsp;&nbsp;</B>Financial Industry
Regulatory Authority, formerly the National Association of Securities Dealers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Indirect Participants:&nbsp;&nbsp;</B>Banks,
brokers, dealers and trust companies that clear through or maintain a custodial relationship with a DTC Participant, either directly
or indirectly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Limited Liability Company (LLC):&nbsp;&nbsp;</B>A
type of business ownership combining several features of corporation and partnership structures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Margin:&nbsp;&nbsp;</B>The amount of equity
required for an investment in futures contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>NAV:&nbsp;&nbsp;</B>Net Asset Value of the
Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>NFA:&nbsp;&nbsp;</B>National Futures Association.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>NSCC:&nbsp;&nbsp;</B>National Securities
Clearing Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>1933 Act:&nbsp;&nbsp;</B>The Securities Act
of 1933.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Option:&nbsp;&nbsp;</B>The right, but not
the obligation, to buy or sell a futures contract or forward contract at a specified price on or before a specified date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Other Wheat Interests:&nbsp;&nbsp;</B>Other
wheat-related investments such as options on Wheat Futures Contracts, swaps agreements other than Cleared Wheat Swaps and forward
contracts relating to wheat, and over-the-counter transactions that are based on the price of wheat, Wheat Futures Contracts and
indices based on the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Over-the-Counter Derivative:&nbsp;&nbsp;</B>A
financial contract, whose value is designed to track the return on stocks, bonds, currencies, commodities, or some other benchmark,
that is traded over-the-counter or off organized exchanges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Redemption Basket:&nbsp;&nbsp;</B>A block
of 25,000 Shares used by the Fund to redeem Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>SEC:&nbsp;&nbsp;</B>Securities and Exchange
Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Secondary Market:&nbsp;&nbsp;</B>The stock
exchanges and the over-the-counter market. Securities are first issued as a primary offering to the public. When the securities
are traded from that first holder to another, the issues trade in these secondary markets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Shareholders:</B>&nbsp;&nbsp;Holders of Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Shares:</B>&nbsp;&nbsp;Common units representing
fractional undivided beneficial interests in the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Sponsor:&nbsp;&nbsp;</B>Teucrium Trading,
LLC, a Delaware limited liability company, which is registered as a Commodity Pool Operator, who controls the investments and other
decisions of the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Spot Contract:&nbsp;&nbsp;</B>A cash market
transaction in which the buyer and seller agree to the immediate purchase and sale of a commodity, usually with a two-day settlement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Swap Agreement:&nbsp;&nbsp;</B>An over-the-counter
derivative that generally involves an exchange of a stream of payments between the contracting parties based on a notional amount
and a specified index.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Tracking Error:&nbsp;&nbsp;</B>Possibility
that the daily NAV of the Fund will not track the Benchmark.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Treasury Securities:&nbsp;&nbsp;</B>Obligations
of the U.S. government with remaining maturities of 2 years or less.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Trust Agreement:&nbsp;&nbsp;</B>The Second
Amended and Restated Declaration of Trust and Trust Agreement of the Trust effective as of October 21, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Valuation Day:&nbsp;&nbsp;</B>Any day as
of which the Fund calculates its NAV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Wheat Futures Contracts:&nbsp;&nbsp;</B>Futures
contracts for wheat that are traded on the CBOT, the Kansas City Board of Trade, the Minneapolis Grain Exchange, or foreign exchanges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Wheat Interests:&nbsp;&nbsp;</B>Wheat Futures
Contracts, Cleared Wheat Swaps and Other Wheat Interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>You:&nbsp;&nbsp;</B>The owner of Shares.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>STATEMENT OF ADDITIONAL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TEUCRIUM WHEAT FUND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> This statement of additional information
is the second part of a two part document.&nbsp;&nbsp;The first part is the Fund&rsquo;s disclosure document.&nbsp;&nbsp;The disclosure
document and this statement of additional information are bound together, and both parts contain important information.&nbsp;&nbsp;This
statement of additional information should be read in conjunction with the disclosure document. To obtain a copy of the disclosure
document without charge, call the Fund at (802) 257-1617. Before you decide whether to invest, you should read the entire prospectus
carefully and consider the risk factors beginning on page&nbsp;13. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> This statement of additional information
and accompanying disclosure document are both dated April 30, 2014. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 91%">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Page</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_065">Commodity Market Participants</A></FONT></TD>
    <TD STYLE="text-align: right; text-indent: -0.5in"><FONT STYLE="font-size: 10pt">102</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_066">Regulation</A></FONT></TD>
    <TD STYLE="text-align: right; text-indent: -0.5in"><FONT STYLE="font-size: 10pt">102</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCFFCC">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_067">Potential Advantages of Investment</A></FONT></TD>
    <TD STYLE="text-align: right; text-indent: -0.5in"><FONT STYLE="font-size: 10pt">108</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_068">Fund Performance</A></FONT></TD>
    <TD STYLE="text-align: right; text-indent: -0.5in"><FONT STYLE="font-size: 10pt">108</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_065"></A>Commodity Market Participants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The two broad classes of persons who trade commodities
are hedgers and speculators.&nbsp;&nbsp;Hedgers include financial institutions that manage or deal in interest rate-sensitive instruments,
foreign currencies or stock portfolios, and commercial market participants, such as farmers and manufacturers, that market or process
commodities.&nbsp;&nbsp;Hedging is a protective procedure designed to effectively lock in prices that would otherwise change due
to an adverse movement in the price of the underlying commodity, such as, the adverse price movement between the time a merchandiser
or processor enters into a contract to buy or sell a raw or processed commodity at a certain price and the time he must perform
the contract.&nbsp;&nbsp;For example, if a hedger contracts to physically sell the commodity at a future date, he may simultaneously
buy a futures or forward contract for the necessary equivalent quantity of the commodity.&nbsp;&nbsp;At the time for performance
of the physical contract, the hedger may accept delivery under his futures contract and sell the commodity quantity as required
by the physical contract or he may buy the actual commodity, sell it under the physical contract and close out his futures contract
position by making an offsetting sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Commodity Interest markets enable the hedger
to shift the risk of price fluctuations.&nbsp;&nbsp;The usual objective of the hedger is to protect the profit that he expects
to earn from farming, merchandising, or processing operations rather than to profit from his trading.&nbsp;&nbsp;However, at times
the impetus for a hedge transaction may result in part from speculative objectives and hedgers can end up paying higher prices
than they would have if they did not enter into a Commodity Interest transaction if current market prices are lower than the locked-in
price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unlike the hedger, the speculator generally
expects neither to make nor take delivery of the underlying commodity.&nbsp;&nbsp;Instead, the speculator risks his capital with
the hope of making profits from price fluctuations in the commodities.&nbsp;&nbsp;The speculator is, in effect, the risk bearer
who assumes the risks that the hedger seeks to avoid.&nbsp;&nbsp;Speculators rarely make or take delivery of the underlying commodity;
rather they attempt to close out their positions prior to the delivery date.&nbsp;&nbsp;A speculator who takes a long position
generally will make a profit if the price of the underlying commodity goes up and incur a loss if the price of the underlying commodity
goes down, while a speculator who takes a short position generally will make a profit if the price of the underlying commodity
goes down and incur a loss if the price of the underlying commodity goes up.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_066"></A>Regulation</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in"> The CFTC possesses exclusive jurisdiction
to regulate the activities of commodity pool operators and has adopted regulations with respect to the activities of those persons
and/or entities. Under the Commodity Exchange Act (&ldquo;CEA&rdquo;), a registered commodity pool operator, such as the Sponsor,
is required to make annual filings with the CFTC describing its organization, capital structure, management and controlling persons.
In addition, the CEA authorizes the CFTC to require and review books and records of, and documents prepared by, registered commodity
pool operators. Pursuant to this authority, the CFTC requires commodity pool operators to keep accurate, current and orderly records
for each pool that they operate. The CFTC may suspend the registration of a commodity pool operator (1) if the CFTC finds that
the operator&rsquo;s trading practices tend to disrupt orderly market conditions, (2) if any controlling person of the operator
is subject to an order of the CFTC denying such person trading privileges on any exchange, and (3) in certain other circumstances.
Suspension, restriction or termination of the Sponsor&rsquo;s registration as a commodity pool operator would prevent </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0"> it, until that registration were to be reinstated, from
managing the Fund, and might result in the termination of the Fund if a successor sponsor is not elected pursuant to the Trust
Agreement. Neither the Trust nor the Fund is required to be registered with the CFTC in any capacity. </P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in"> The Fund&rsquo;s investors are afforded
prescribed rights for reparations under the CEA. Investors may also be able to maintain a private right of action for violations
of the CEA. The CFTC has adopted rules implementing the reparation provisions of the CEA, which provide that any person may file
a complaint for a reparations award with the CFTC for violation of the CEA against a floor broker or an FCM, introducing broker,
commodity trading advisor, CPO, and their respective associated persons. </P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in"> Pursuant to authority in the CEA, the
NFA has been formed and registered with the CFTC as a registered futures association. At the present time, the NFA is the only
self-regulatory organization for commodity interest professionals, other than futures exchanges. The CFTC has delegated to the
NFA responsibility for the registration of CPOs and FCMs and their respective associated persons. The Sponsor and the Fund&rsquo;s
clearing broker are members of the NFA. As such, they will be subject to NFA standards relating to fair trade practices, financial
condition and consumer protection. The NFA also arbitrates disputes between members and their customers and conducts registration
and fitness screening of applicants for membership and audits of its existing members. Neither the Trust nor the Fund is itself
required to become a member of the NFA. </P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 12pt; text-indent: 0.5in"> The regulations of the CFTC and
the NFA prohibit any representation by a person registered with the CFTC or by any member of the NFA, that registration with the
CFTC, or membership in the NFA, in any respect indicates that the CFTC or the NFA has approved or endorsed that person or that
person&rsquo;s trading program or objectives. The registrations and memberships of the parties described in this summary must not
be considered as constituting any such approval or endorsement. Likewise, no futures exchange has given or will give any similar
approval or endorsement. </P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> Futures exchanges in the United States
are subject to varying degrees of regulation under the CEA depending on whether such exchange is a designated contract market,
exempt board of trade or electronic trading facility. Clearing organizations are also subject to the CEA and the rules and regulations
adopted thereunder as administered by the CFTC. The CFTC&rsquo;s function is to implement the CEA&rsquo;s objectives of preventing
price manipulation and excessive speculation and promoting orderly and efficient commodity interest markets. In addition, the various
exchanges and clearing organizations themselves exercise regulatory and supervisory authority over their member firms. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> The Dodd-Frank Wall Street Reform
and Consumer Protection Act (the &ldquo;Dodd-Frank Act&rdquo;) was enacted in response to the economic crisis of 2008 and 2009
and it significantly altered the regulatory regime to which the securities and commodities markets are subject. To date, the CFTC
has issued proposed versions of all of the rules it is required to promulgate under the Dodd-Frank Act, and it continues to issue
proposed versions of additional rules that it has authority to promulgate. The CFTC has issued final rules under the Dodd-Frank
Act relating to recordkeeping and reporting of swap transactions, mandatory clearing of certain classes of credit default swaps
and interest rate swaps, as well as the definition of key terms such as &ldquo;swap&rdquo; and &ldquo;swap dealer.&rdquo; Provisions
of the new law include the requirement that position limits be established on a wide range of commodity interests, including agricultural,
energy, and metal-based commodity futures contracts, options on such futures contracts and cleared and uncleared swaps that are
economically equivalent to such futures contracts and options (&ldquo;Reference Contracts&rdquo;); new registration and recordkeeping
requirements for swap market participants; capital and margin requirements for &ldquo;swap dealers&rdquo; and &ldquo;major swap
participants,&rdquo; as determined by the new law and applicable regulations; and the mandatory use of clearinghouse mechanisms
for sufficiently standardized swap transactions that were historically entered into in the over-the-counter market. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> The CFTC published final rules on
February 17, 2012 and April 3, 2012 that require &ldquo;swap dealers&rdquo; and "major swap participants&rdquo; to: 1) adhere
to business conduct standards, 2) implement policies and procedures to ensure compliance with the CEA and 3) maintain records of
such compliance. These new requirements may impact the documentation requirements for both cleared and non-cleared swaps and cause
swap dealers and major swap participants to face increased compliance costs that, in turn, may be passed along to counterparties,
such as the Funds, in the form of higher fees and expenses that relate to trading swaps. </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> On August 13, 2012 the CFTC and the
SEC published joint final rules defining the terms &ldquo;swap&rdquo; and &ldquo;security-based swaps.&rdquo; The term &ldquo;swap&rdquo;
is broadly defined to include various types of over-the-counter derivatives, including swaps and options. The effective date of
these final rules was October 12, 2012. Pursuant to the Dodd-Frank Act, certain transactions within the definition of &ldquo;swap&rdquo;
must be executed on organized exchanges or &ldquo;swap execution facilities&rdquo; and cleared through regulated clearing organizations
(which are referred to in the Dodd-Frank Act as &ldquo;derivative clearing organizations&rdquo; (&ldquo;DCOs&rdquo;)). On November
28, 2012 the CFTC issued its final clearing determination requiring that certain credit default swaps and interest rate swaps be
cleared by registered DCOs. This is the CFTC&rsquo;s first clearing determination under the Dodd-Frank Act and became effective
February 11, 2013. Beginning on March 11, 2013, swap dealers, major swap participants, and certain active funds were required to
clear certain credit default swaps and interest rate swaps; and beginning on June 10, 2013, commodity pools, certain private funds
and entities predominately engaged in financial activities were required to clear the same types of swaps. As a result, if a Fund
enters into or had entered into certain interest rate or credit default swaps on or after June 10, 2013, such swaps will be required
to be centrally cleared. Determinations on other types of swaps are expected in the future and, when finalized, could require the
Fund to centrally clear certain over-the-counter instruments presently entered into and settled on a bi-lateral basis. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> The Dodd-Frank Act requires the CFTC,
the SEC and the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit
Insurance Corporation, the Farm Credit System and the Federal Housing Finance Agency (collectively, the &ldquo;Prudential Regulators&rdquo;)
to establish &ldquo;both initial and variation margin requirements on all swaps that are not cleared by a registered clearing organization&rdquo;
(including many over-the-counter swaps). The proposed rules would require swap dealers and major swap participants to collect both
variation and initial margin from their financial entity counterparties such as the Fund but would not require these swap dealers
or major swap participants to post variation margin or initial margin to the Fund. In addition, the Dodd-Frank Act provides parties
who post initial margin to a swap dealer or major swap participant with a statutory right to insist that such margin be held in
a segregated account with an independent custodian. At this time, the CFTC has proposed a rule addressing this statutory right
of certain market participants but has not yet implemented any final rules. If a swap is required to be cleared, the initial margin
will be set by the clearing organization, subject to certain regulatory requirements and guidelines. Initial and variation margin
requirements for swap dealers and major swap participants who enter into uncleared swaps and capital requirements for swap dealers
and major swap participants who enter into both cleared and uncleared trades will be set by the CFTC, the SEC or the applicable
&ldquo;Prudential Regulator.&rdquo; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> The Dodd-Frank Act also requires that
certain swaps determined to be available to trade on a swap execution facility (&ldquo;SEF&rdquo;) must be executed over such a
facility. On June 5, 2013, the CFTC published a final rule regarding the obligations of SEFs, including the obligation for facilities
offering multiple person execution services to register as a SEF by October 2, 2013. Based upon applications filed by several SEFs
with the CFTC in the second half of October 2013, it is expected that the CFTC will determine certain interest rate swaps and credit
default index swaps to be available to trade on those SEFs in the first quarter of 2014. On November 14, 2013 the CFTC Division
of Clearing and Risk, Division on Market Oversight, and Division of Swap Dealer and Intermediary Oversight published guidance with
respect to the application of certain CFTC rules on SEFs. That guidance clarified that SEFs could not restrict access to participants
who are permitted to trade swaps and that SEFs may not require participants to have brokerage agreements in place with other counterparties. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> On April 5, 2013, the CFTC&rsquo;s
Division of Clearing and Risk issued a letter granting no-action relief from certain swap data reporting requirements for swaps
entered into between affiliated counterparties. In general, the letter grants relief from real-time, historical and regular swap
reporting (under Part 43, Part 45 and Part 46 of the CFTC&rsquo;s regulations, respectively). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> On April 9, 2013, the CFTC&rsquo;s
Division of Market Oversight issued a letter granting time-limited no-action relief to non-swap dealer, non-major swap participant
counterparties from the real-time, regular and historical swap reporting requirements (under Part 43, Part 45 and Part 46 of the
CFTC&rsquo;s regulations, respectively). The regular reporting requirements (Part 45 of the CFTC regulations) for interest rate
and credit swaps of a financial entity (including a commodity pool such as the Fund) began on April 10, 2013. The letter delays
implementation of the reporting requirements based upon the asset class underlying the swap and the classification of the reporting
counterparty. For a financial entity (including a commodity pool such as the </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"> Funds), regular reporting requirements for equity, foreign
exchange and other commodity swaps began on May 29, 2013 and reporting of all historical swaps for all asset classes begins on
September 30, 2013. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> On April 11, 2013, the CFTC published
a final rule to exempt swaps between certain affiliated entities within a corporate group from the clearing requirement. The rule
permits affiliated counterparties to elect not to clear a swap subject to the clearing requirement if, among other things, the
counterparties are majority-owned affiliates whose financial statements are included in the same consolidated financial statements
and whose swaps are documented and subject to a centralized risk management program. However, the exemption does not apply to swaps
entered into by affiliated counterparties with unaffiliated counterparties. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> On November 6, 2013, the CFTC published
a final rule to impose requirements on swap dealers and major swap participants with respect to the treatment of collateral posted
by their counterparties to margin, guarantee, or secure uncleared swaps. Essentially, the rule places restrictions on what swap
dealers and major swap participants can do with collateral posted by the Fund in connection with uncleared swaps. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> In addition to the rules and regulations
imposed under the Dodd-Frank Act, swap dealers that are European banks may also be subject to European Market Infrastructure Regulation
(&ldquo;EMIR&rdquo;). These regulations have not yet been fully implemented. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> On August 12, 2013, the CFTC issued
final rules establishing compliance obligations for CPOs of investment companies registered under the Investment Company Act of
1940 that are required to register due to recent changes to Commission Regulation 4.5. For entities that are registered with both
the CFTC and SEC, the CFTC will accept the SEC&rsquo;s disclosure, reporting, and recordkeeping regime as substituted compliance
for substantially all of Part 4 of the CFTC&rsquo;s regulations, so long as they comply with comparable requirements under the
SEC&rsquo;s statutory and regulatory compliance regime. Thus, the final rules (the &ldquo;Harmonization Rules&rdquo;) allow dually
registered entities to meet certain CFTC regulatory requirements for CPOs by complying with SEC rules to which they are already
subject. Although the Fund is not a registered investment company under the Investment Company Act, the Harmonization Rules amended
certain CFTC disclosure rules to make the requirements for all CPOs to periodically update their disclosure documents, consistent
with those of the SEC. This change will decrease the burden to the Fund and the Sponsor of having to comply with inconsistent regulatory
requirements. It is not known whether the CFTC will make additional amendments to its disclosure, reporting and recordkeeping rules
to further harmonize these obligations with those of the SEC as they apply to the Fund and the Sponsor, but any such further rule
changes could result in additional operating efficiencies for the Fund and the Sponsor. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> The effect of future regulatory change
on the Fund, and the exact timing of such changes, is impossible to predict but it may be substantial and adverse. Specifically,
the new law, the rules that have been promulgated thereunder, and the rules that are expected to be promulgated may negatively
impact the ability of the Fund to meet its investment objectives, either through position limits or requirements imposed on it
and/or on their counterparties. In particular, new position limits imposed on the Fund or any counterparties may impact the ability
of the Fund to invest in a manner that most efficiently meets its investment objective. New requirements, including capital imposed
on the counterparties of the Fund and the mandatory clearing and margining of swaps, may increase the cost of the Fund&rsquo;s
investments and doing business. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> In addition, considerable regulatory
attention has recently been focused on non-traditional publicly distributed investment pools such as the Fund. Furthermore, various
national governments have expressed concern regarding the disruptive effects of speculative trading in certain commodity markets
and the need to regulate the derivatives markets in general. The effect of any future regulatory change on the Fund is impossible
to predict, but could be substantial and adverse. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I> Position Limits, Aggregation Limits,
Price Fluctuation Limits </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"> On November 5, 2013 the CFTC proposed
a rulemaking that would establish specific limits on speculative positions in 28 physical commodity futures and option contracts
as well as swaps that are economically equivalent to such contracts in the agriculture, energy and metal markets (the &ldquo;Position
Limit Rules&rdquo;). On that same date, the CFTC proposed another rule addressing the circumstances under which market </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"> participants would be required to aggregate their positions
with other persons under common ownership or control (the &ldquo;Proposed Aggregation Requirements&rdquo;). Specifically, the
original position limit requirements identify which contracts are subject to speculative position limits; set thresholds that
restrict the number of speculative positions that a person may hold in a spot month, individual month, and all months combines;
create an exemption for positions that constitute bona fide hedging transactions; impose responsibilities on designated contract
markets (&ldquo;DCMs&rdquo;) and SEFs to establish position limits or, in some cases, position accountability rules; and apply
to both futures and swaps across four relevant venues: over-the-counter, DCMs, SEFs, and non-US located platforms. Furthermore,
until such time as the Position Limit Rules are adopted, the regulatory architecture in effect prior to the adoption of the Position
Limit Rules will govern transactions in Reference Contracts. Currently, the CFTC enforces federal limits on speculation in agricultural
products (e.g., corn, wheat and soy), while futures exchanges enforce position limits and accountability levels for agricultural
and certain energy products (e.g., oil and natural gas). As a result, the Funds may be limited with respect to the size of their
investments in any commodity subject to these limits. Finally, subject to certain narrow exceptions, the Position Limit Rules
require the aggregation, for purposes of the position limits, of all positions in Reference Contracts of the 28 regulated commodities
held by a single entity and its affiliates, regardless of whether such positions exist on US futures exchanges, non-US futures
exchanges, cleared swaps, or in over-the-counter swaps. Under the CFTC&rsquo;s existing position limit requirements and the Position
Limit Rules, a market participant is generally required to aggregate all positions for which ownership interest in an account
or position, as well as the positions of two or more persons acting pursuant to an express or implied agreement or understanding.
As this time, it is unclear how the Proposed Aggregation Requirements may affect the Fund, but it may be substantial and adverse.
By way of example, the Proposed Aggregation Requirements in combination with the Position Limit Rules may negatively impact the
ability of the Fund to meet its respective investment objectives through limits that may inhibit the Sponsor&rsquo;s ability to
sell additional Creation Baskets of the Fund. &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10 0 12pt; text-indent: 0.5in"> Accountability levels differ from
position limits in that they do not represent a fixed ceiling, but rather a threshold above which a futures exchange may exercise
greater scrutiny and control over an investor&rsquo;s positions. If a Fund were to exceed an applicable accountability level for
investments in futures contracts, the exchange will monitor the Fund&rsquo;s exposure and may ask for further information on its
activities, including the total size of all positions, investment and trading strategy, and the extent of liquidity resources of
the Fund. If deemed necessary by the exchange, the Fund could be ordered to reduce its aggregate net position back to the accountability
level. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> The CFTC and U.S. designated contract
markets such as the CBOT may establish position limits and accountability levels on the maximum net long or net short positions
in futures contracts in commodities that any person or group of persons under common trading control (other than as a hedge, which
an investment by the Fund would not be) may hold, own or control. The net position is the difference between an individual or firm&rsquo;s
open long contracts and open short contracts in any one commodity. In addition, most U.S. futures exchanges, such as the CBOT,
limit the daily price fluctuation for futures contracts. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> Position limits generally impose a fixed
ceiling on aggregate holdings in futures contracts relating to a particular commodity, and may also impose separate ceilings on
contracts expiring in any one month, contracts expiring in the spot month, and/or contracts in certain specified final days of
trading.&nbsp;&nbsp;The position limits currently established by the CFTC apply to certain agricultural commodity interests, including
Wheat Futures Contracts. Specifically, the CFTC&rsquo;s position limits for Wheat Futures Contracts (including related options)
are 600 spot month contracts, 12,000 contracts expiring in any other single month, and 12,000 contracts for all months.&nbsp;&nbsp;All
futures contracts held under the control of the Sponsor, including those held by any future series of the Trust, will be aggregated
in determining the application of these position limits. Position limits could in certain circumstances effectively limit the number
of Creation Baskets that the Fund can sell, but the Fund is not expected to reach asset levels that would cause these position
limits to be implicated in the near future. Assuming a contract price of $5.83 per bushel (December 2014 CBOT contract price as
of January 31, 2014) and that the Fund was fully invested in Wheat Futures Contracts, the position limit of 12,000 contracts total
would apply when the Fund&rsquo;s assets reached approximately $350 million ($5.83 per bushel times 5,000 bushels per contract
times 12,000 contracts).&nbsp;&nbsp;If such position limits become applicable to the Fund in the future, the Sponsor may enter
into for the Fund Other Wheat Interests that are not subject to position limits to a greater degree than would otherwise be the
case.&nbsp;&nbsp;(Currently, there are generally no position limits applicable to Other Wheat Interests, except that options on
Wheat Futures Contracts must be aggregated with the related Wheat Futures Contracts for purposes of the position limits on Wheat
Futures Contracts.&nbsp;&nbsp;Cleared Wheat Swaps are </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> currently covered by separate position limits that are similar
to those covering Wheat Futures Contracts.)&nbsp;&nbsp;In any event, however, position limits could in certain circumstances effectively
limit the number of Creation Baskets that the Fund can sell. Additionally, the Fund&rsquo;s ability to rely on these Other Wheat
Interests may be further limited when the position limit rules discussed above become effective. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> In light of the position limits discussed
above, the CBOT has not set any accountability levels for Wheat Futures Contracts. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> In addition to position limits and accountability,
the exchanges set daily price fluctuation limits on futures contracts.&nbsp;&nbsp;The daily price fluctuation limit establishes
the maximum amount that the price of futures contracts may vary either up or down from the previous day&rsquo;s settlement price.&nbsp;&nbsp;Once
the daily price fluctuation limit has been reached in a particular futures contract, no trades may be made at a price beyond that
limit. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B> &nbsp; </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> For example, the CBOT currently imposes a
$3,000 per contract price fluctuation limit for Wheat Futures Contracts.&nbsp;&nbsp;This limit is initially based off of the previous
trading day&rsquo;s settlement price.&nbsp;&nbsp;If two or more Wheat Futures Contract months within the first five listed non-spot
contracts close at the limit, the daily price limit increases to $4,500 per contract for the next business day and to $6,750 per
contract the next business day if the limit is met again. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in"> On March 12, 2014, the CME announced
that, subject to CFTC approval, it would replace the current fixed price fluctuation limits with variable price limits effective
May 1, 2014. This change would amend Appendix A, Chapter 14 (Wheat Futures), Section 14102.D (Trading Specifications &ndash; Daily
Price Limits) to read as follows: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 0.5in"> Daily price limits for Wheat futures are reset every
six months. The first reset date would be the first trading day in May based on the following: Daily settlement prices are collected
for the nearest July contract over 45 consecutive trading days before and on the business day prior to April 16<SUP>th</SUP>. The
average price is calculated based on the collected settlement prices and then multiplied by seven percent. The resulting number
rounded to the nearest 5 cents per bushel, or 30 cents per bushel, whichever is higher will be the new initial price limits for
Wheat futures and will become effective on the first trading day in May and will remain in effect through the last trading day
in October. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 0.5in"> The second reset date would be the first trading
day in November based on the following: Daily settlement prices are collected for the nearest December contract over 45 consecutive
trading days before and on the business day prior to October 16th. The average price is calculated based on the collected settlement
prices and then multiplied by seven percent. The resulting number, rounded to the nearest 5 cents per bushel, or 30 cents per bushel,
whichever is higher, will be the new initial price limits for Wheat futures and will become effective on the first trading day
in November and will remain in effect through the last trading day in next April. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"> There shall be no trading in Wheat
futures at a price more than the initial price limit above or below the previous day&rsquo;s settlement price. Should two or more
Wheat futures contract months within the first five listed non-spot contracts (or the remaining contract month in a crop year,
which is the May contract) settle at limit, the daily price limits for all contract months shall increase by 50 percent the next
business day, rounded up to the nearest 5 cents per bushel. If no Wheat futures contract month settles at the expanded limit the
next business day, daily price limits for all contract months shall revert back to the initial price limit the following business
day. There shall be no price limits on the current month contract on or after the second business day preceding the first day of
the delivery month. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10 0 12pt; text-indent: 0.5in"><B><I> FCMs </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"> The CEA requires all FCMs, such as
the Funds&rsquo; clearing brokers, to meet and maintain specified fitness and financial requirements, to segregate customer funds
from proprietary funds and account separately for all customers&rsquo; funds and positions, and to maintain specified books and
records open to inspection by the staff of the CFTC. The CFTC has similar authority over introducing brokers, or persons who solicit
or accept </P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"> orders for commodity interest trades but who do not accept
margin deposits for the execution of trades. The CEA authorizes the CFTC to regulate trading by FCMs and by their officers and
directors, permits the CFTC to require action by exchanges in the event of market emergencies, and establishes an administrative
procedure under which customers may institute complaints for damages arising from alleged violations of the CEA. The CEA also gives
the states powers to enforce its provisions and the regulations of the CFTC. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> On November 14, 2013, the CFTC published
final regulations that require enhanced customer protections, risk management programs, internal monitoring and controls, capital
and liquidity standards, customer disclosures and auditing and examination programs for FCMs. The rules are intended to afford
greater assurances to market participants that customer segregated funds and secured amounts are protected, customers are provided
with appropriate notice of the risks of futures trading and of the FCMs with which they may choose to do business, FCMs are monitoring
and managing risks in a robust manner, the capital and liquidity of FCMs are strengthened to safeguard the continued operations
and the auditing and examination programs of the CFTC and the self-regulatory organizations are monitoring the activities of FCMs
in a thorough manner. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_067"></A>Potential Advantages of Investment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Interest Income</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unlike some alternative investment funds, the
Fund does not borrow money in order to obtain leverage, so the Fund does not incur any interest expense.&nbsp;&nbsp;Rather, the
Fund&rsquo;s margin deposits and cash reserves are maintained in Treasury Securities and interest is earned on 100% of the Fund&rsquo;s
available assets, which include unrealized profits credited to the Fund&rsquo;s accounts</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="a_068"></A>Fund Performance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12.6pt 0 0; text-indent: 0.5in"> The following graph sets forth the
historical performance of the Fund from commencement of operations on September 19, 2011 until January 31, 2014. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12.6pt 0 0; text-align: center"><B>PAST PERFORMANCE IS NOT NECESSARILY
INDICATIVE OF FUTURE RESULTS</B></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12.6pt 0 0; text-align: justify">&nbsp;<IMG SRC="image_005.gif" ALT="" STYLE="height: 298px; width: 547px"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PART&nbsp;II </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Information Not Required in the Prospectus</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<I>Other Expenses
of Issuance and Distribution</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Set forth below is an estimate (except as indicated) of the amount of fees and expenses (other than underwriting commissions and
discounts) payable by the registrant in connection with the issuance and distribution of the units pursuant to the prospectus contained
in this registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount</B> </FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom; width: 89%; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">SEC registration fee (actual) </FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%"><FONT STYLE="font-size: 10pt">$ </FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; text-align: right"><FONT STYLE="font-size: 10pt">29,025 </FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">NYSE Arca Listing Fee (actual) </FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">$ </FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">5,000 </FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">FINRA filing fees (actual) </FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">$ </FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">25,500 </FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Blue Sky expenses </FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">n/a </FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Auditor&rsquo;s fees and expenses </FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">$ </FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">20,000 </FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Legal fees and expenses </FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">$ </FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">118,000 </FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Printing expenses </FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">$ </FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">5,000 </FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; padding-bottom: 1.5pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Miscellaneous expenses </FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">n/a </FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom; padding-bottom: 3pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Total </FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$ </FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">202,525 </FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 3pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item&nbsp;14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Indemnification
of Directors and Officers</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trust&rsquo;s Second Amended and Restated
Declaration of Trust and Trust Agreement (the &ldquo;Trust Agreement&rdquo;) provides that the Sponsor shall be indemnified by
the Trust (or, by a series of the Trust separately to the extent the matter in question relates to a single series or disproportionately
affects a series in relation to other series) against any losses, judgments, liabilities, expenses and amounts paid in settlement
of any claims sustained by it in connection with its activities for the Trust, provided that (i) the Sponsor was acting on behalf
of or performing services for the Trust and has determined, in good faith, that such course of conduct was in the best interests
of the Trust and such liability or loss was not the result of gross negligence, willful misconduct, or a breach of the Trust Agreement
on the part of the Sponsor and (ii) any such indemnification will only be recoverable from the applicable trust estate or trust
estates.&nbsp;&nbsp;All rights to indemnification permitted by the Trust Agreement and payment of associated expenses shall not
be affected by the dissolution or other cessation to exist of the Sponsor, or the withdrawal, adjudication of bankruptcy or insolvency
of the Sponsor, or the filing of a voluntary or involuntary petition in bankruptcy under Title 11 of the Bankruptcy Code by or
against the Sponsor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Notwithstanding the foregoing, the Sponsor shall
not be indemnified for any losses, liabilities or expenses arising from or out of an alleged violation of U.S. federal or state
securities laws unless (i) there has been a successful adjudication on the merits of each count involving alleged securities law
violations as to the particular indemnitee and the court approves the indemnification of such expenses (including, without limitation,
litigation costs), (ii) such claims have been dismissed with prejudice on the merits by a court of competent jurisdiction as to
the particular indemnitee and the court approves the indemnification of such expenses (including, without limitation, litigation
costs) or (iii) a court of competent jurisdiction approves a settlement of the claims against a particular indemnitee and finds
that indemnification of the settlement and related costs should be made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trust and its series shall not incur the
cost of that portion of any insurance which insures any party against any liability, the indemnification of which is prohibited
by the Trust Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Expenses incurred in defending a threatened
or pending civil, administrative or criminal action suit or proceeding against the Sponsor shall be paid by the Trust in advance
of the final disposition of such action, suit or proceeding, if (i) the legal action relates to the performance of duties or services
by the Sponsor on behalf of the Trust; (ii) the legal action is initiated by a party other than the Trust; and (iii) the Sponsor
undertakes to</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">repay the advanced funds with interest to the Trust in cases in
which it is not entitled to indemnification under the Trust Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">For purposes of the indemnification provisions
of the Trust Agreement, the term &ldquo;Sponsor&rdquo; includes, in addition to the Sponsor, any other covered person performing
services on behalf of the Trust and acting within the scope of the Sponsor&rsquo;s authority as set forth in the Trust Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In the event the Trust is made a party to any
claim, dispute, demand or litigation or otherwise incurs any loss, liability, damage, cost or expense as a result of or in connection
with any Shareholder&rsquo;s (or assignee&rsquo;s) obligations or liabilities unrelated to Trust business, such Shareholder (or
assignees cumulatively) shall indemnify, defend, hold harmless, and reimburse the Trust for all such loss, liability, damage, cost
and expense incurred, including attorneys&rsquo; and accountants&rsquo; fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The payment of any amount pursuant to the Trust Agreement shall
take into account the allocation of liabilities and other amounts, as appropriate, among the series of the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item&nbsp;15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Recent
Sales of Unregistered Securities</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item&nbsp;16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Exhibits
and Financial Statement Schedules</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(a)&nbsp;<I>Exhibits</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 10pt">3.1<SUP>(1)</SUP> </FONT></TD>
    <TD STYLE="width: 94%; font-size: 12pt"><FONT STYLE="font-size: 10pt">Second Amended and Restated Declaration of Trust and Trust Agreement of the Registrant.</FONT><FONT STYLE="font-size: 7pt"> </FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">3.2<SUP>(2)</SUP></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Certificate of Trust of the registrant.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">3.3<SUP>(3)</SUP> </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Instrument establishing the Fund.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">5.1<SUP>(6)</SUP></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Opinion of Reed Smith LLP relating to the legality of the Shares. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">8.1<SUP>(6)</SUP></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Opinion of Reed Smith LLP with respect to federal income tax consequences.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.1<SUP>(3)</SUP> </FONT></TD>
    <TD STYLE="font-size: 12pt"><FONT STYLE="font-size: 10pt">Form of Authorized Purchaser Agreement.</FONT><FONT STYLE="font-size: 7pt"> </FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.2<SUP>(5)</SUP> </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Amended and Restated Distribution Services Agreement.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.3<SUP>(5)</SUP></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Amendment to Amended and Restated Distribution Services Agreement.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.4<SUP>(5)</SUP></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Second Amendment to Amended and Restated Distribution Services Agreement.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.5<SUP>(4)</SUP></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Global Custody Agreement</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"> 10.6<SUP>(4)</SUP> </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"> Services Agreement </FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.7<SUP>(4)</SUP></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Transfer Agency and Service Agreement</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.8<SUP>(1)</SUP></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Distribution Consulting and Marketing Services Agreement</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"> 10.9<SUP>(7)</SUP> </FONT> </TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> Third Amendment to Amended and Restated Distribution Services
        Agreement </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> &nbsp; </P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"> 23.1<SUP>(8)</SUP> </FONT> </TD>
    <TD><FONT STYLE="font-size: 10pt"> Consent of Reed Smith LLP </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"> 23.2<SUP>(8)</SUP> </FONT> </TD>
    <TD><FONT STYLE="font-size: 10pt"> Consent of Independent Registered Public Accounting Firm. </FONT></TD></TR>
</TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(1) Previously filed as like-numbered exhibit to Post-Effective
Amendment No. 1 to Registration Statement No. 333-162033, filed on October 22, 2010 and incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(2) Previously filed as like-numbered exhibit to Registration Statement
No. 333-162033, filed on September 21, 2009 and incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(3) Previously filed as like-numbered exhibit to Pre-Effective Amendment
No. 1 to Registration Statement No. 333-167591, filed on March 9, 2011 and incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(4) Previously filed as like-numbered exhibit to Pre-Effective Amendment
No. 3 to Registration Statement No. 333-162033, filed on March 29, 2010 and incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(5) Previously filed as like-numbered exhibit to Current Report
on Form 8-K for the Teucrium Corn Fund, filed on November 11, 2011 and incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(6) Incorporated by reference to Post-Effective Amendment No. 3
to the Registration Statement on Form S-1 for Teucrium Commodity Trust (File No. 333-162033) filed on April 18, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(7) Filed herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> (8) To be filed by amendment. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(b)<I>&nbsp;Financial Statement Schedules</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">The financial statement schedules are either
not applicable or the required information is included in the financial statements and footnotes related thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item&nbsp;17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Undertakings</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(a)&nbsp;Each undersigned registrant hereby
undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(1)&nbsp;To file, during any period in which
offers or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(i)&nbsp;To include any prospectus required
by section&nbsp;10(a)(3) of the Securities Act of 1933;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(ii)&nbsp;To reflect in the prospectus any
facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof)
which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement.&nbsp;&nbsp;Notwithstanding
the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would
not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be
reflected in the form of prospectus filed with the Securities and Exchange Commission pursuant to Rule&nbsp;424(b) if, in the aggregate,
the changes in volume and price represent no more than 20&nbsp;percent change in the maximum aggregate offering price set forth
in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(iii)&nbsp;To include any material information
with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such
information in the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(2)&nbsp;That, for the purpose of determining
any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
<I>bona fide </I>offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(3)&nbsp;To remove from registration by means
of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(4)&nbsp;That, for the purpose of determining
liability under the Securities Act of 1933 to any purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(i)&nbsp;If the registrant is subject to Rule&nbsp;430C
(&sect;230.430C of this chapter), each prospectus filed pursuant to Rule&nbsp;424(b) as part of a registration statement relating
to an offering, other than registration statements relying on Rule&nbsp;430B or other than prospectuses filed in reliance on Rule&nbsp;430A
(&sect;230.430A of this chapter), shall be deemed to be part of and included in the registration statement as of the date it is
first used after effectiveness.&nbsp;&nbsp;Provided, however, that no statement made in a registration statement or prospectus
that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration
statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior
to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of
the registration statement or made in any such document immediately prior to such date of first use.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(5)&nbsp;That, for the purpose of determining
liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities:&nbsp;&nbsp;The
undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration
statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or
sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser
and will be considered to offer or sell such securities to such purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(i)&nbsp;Any preliminary prospectus or prospectus
of the undersigned registrant relating to the offering required to be filed pursuant to Rule&nbsp;424 (&sect;230.424 of this chapter);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(ii)&nbsp;Any free writing prospectus relating
to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(iii)&nbsp;The portion of any other free writing
prospectus relating to the offering containing material information about the undersigned registrant or its securities provided
by or on behalf of the undersigned registrant;&nbsp;and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(iv)&nbsp;Any other communication that is an
offer in the offering made by the undersigned registrant to the purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(b)&nbsp;Insofar as indemnification for liabilities
arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant
to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.&nbsp;&nbsp;In the event
that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid
by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will,
unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final
adjudication of such issue.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;<B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> Pursuant to the requirements of the Securities Act of 1933, the
Registrant has duly caused this Post-Effective Amendment No. 4 to the Registration Statement on Form S-1 to be signed on its behalf
by the undersigned, thereunder duly authorized, in the town of Brattleboro, state of Vermont, on March 28, 2014. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 0.65in">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;Teucrium Commodity Trust</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Teucrium Trading, LLC, Sponsor</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-size: 10pt"><U>/s/ Dale Riker&nbsp;</U>&nbsp;</FONT></TD>
    <TD STYLE="width: 25%; padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Dale Riker</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Principal Executive Officer, Secretary and Member</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the capacities and on the dates as indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 54%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 22%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Date</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Sal Gilbertie</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">President/Chief Investment Officer/Member of the Sponsor</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">March 28, 2014</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Dale Riker</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Dale Riker</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Secretary/Chief Executive Officer/Principal Executive Officer/Member of the Sponsor</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">March 28, 2014</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;/s/ Barbara Riker&nbsp;</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Chief Financial Officer/Chief Accounting Officer/</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Barbara Riker</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Chief Compliance Officer/Principal Financial Officer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">March 28, 2014</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;/s/ SteveKahler&nbsp;</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">March 28, 2014</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Steve Kahler</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Chief Operating Officer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;*&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">March 28, 2014</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Carl N. Miller III</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Member of the Sponsor</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">*Signed by Dale Riker pursuant to a power of attorney signed by
each of the persons noted above and filed as part of the Registration Statement on Form S-1 for Teucrium Commodity Trust, No. 333-167591,
filed on June 17, 2010.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> 10.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Third Amendment to Amended and Restated Distribution
Services Agreement </P>




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<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>2
<FILENAME>e58209ex10-9.htm
<DESCRIPTION>THIRD AMENDMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.9</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THIRD AMENDMENT TO</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AMENDED AND RESTATED<BR>
DISTRIBUTION SERVICES AGREEMENT</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">This Third Amendment (the &ldquo;Amendment&rdquo;) to the Amended
and Restated Distribution Services Agreement (the &ldquo;Distribution Services Agreement&rdquo;) dated as of November 17, 2010
and amended as of May 25, 2011 and October 1, 2011 by and among Teucrium Trading, LLC (the &ldquo;Sponsor&rdquo;), Teucrium Commodity
Trust (the &ldquo;Trust&rdquo;) and Foreside Fund Services, LLC (&ldquo;Foreside&rdquo;) is entered into as of April 22, 2013 (the
&ldquo;Effective Date&rdquo;).</P>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>WHEREAS</B>, the Sponsor, the Trust and Foreside
desire to amend the Distribution Services Agreement to update Exhibit B;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>NOW THEREFORE</B>, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibit B to the Distribution Services Agreement is hereby
deleted and replaced in its entirety as provided on Schedule 1 hereto.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as expressly amended hereby, all of the provisions
of the Distribution Services Agreement shall remain unamended and in full force and effect to the same extent as if fully set forth
herein.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment shall be governed by, and the provisions of
this Amendment shall be construed and interpreted under and in accordance with, the laws of the State of Delaware.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>, the parties hereto
have caused this Amendment to be executed in their names and on their behalf by and through their duly authorized officers, as
of the Effective Date.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt"><B>FORESIDE FUND SERVICES, LLC</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt"><B>TEUCRIUM TRADING, LLC</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; width: 7%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; width: 43%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; width: 7%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; width: 43%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt"><U>/s/ Mark Fairbanks</U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt"><U>/s/ Dale Riker</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt">Mark Fairbanks, President</FONT></TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt">Name:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt">Dale Riker</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt">Title:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt">CEO</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>TEUCRIUM COMMODITY TRUST </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; padding-right: 5.4pt"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="width: 93%; padding-right: 5.4pt"><FONT STYLE="font-size: 11pt"><U>/s/ Dale Riker</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt">Name:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt">Dale Riker</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt">Title:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt"><FONT STYLE="font-size: 11pt">CEO</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT B</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Fee Schedule</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: #E6E6E6">
    <TD STYLE="width: 48%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt"><B>One-Time Fees</B></FONT></TD>
    <TD STYLE="width: 52%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt"><B>Rate</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #E6E6E6">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt"><B>Fixed Fee</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt"><B>Rate</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Base Fee</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">$100,000 per annum, calculated and billed monthly</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #E6E6E6">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt"><B>Asset-Based Fee</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt"><B>Rate</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Basis point fee on all assets under management for Funds listed
        in Exhibit A</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">One basis point (0.01%) per annum on the total average net assets
        of the Funds listed in Exhibit A. Such fee to be calculated and billed monthly.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B><U>The maximum fees to be received by Foreside per Fund over
the two years of each Offering:</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; color: red"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">NAGS:</FONT></TD>
    <TD STYLE="width: 85%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">$211,800 (Allocated base fee plus 1 basis point per annum on total gross offering proceeds).&nbsp;&nbsp;This maximum assumes that the Fund has a constant $1 billion in average net assets over the first two years of distribution.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">CRUD:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">$156,040 (Allocated base fee plus 1 basis point per annum on total gross offering proceeds).&nbsp;&nbsp;This maximum assumes that the Fund has a constant $750 million in average net assets over the first two years of distribution.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">CORN:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">$329,820 (Allocated base fee plus 1 basis point per annum on total gross offering proceeds).&nbsp;&nbsp;This maximum assumes that the Fund has a constant $1 billion in average net assets over the first two years of distribution.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">SOYBEAN:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">$85,270.66 (Allocated base fee plus 1 basis point per annum on total gross offering proceeds).&nbsp;&nbsp;This maximum assumes that the Fund has a constant $250 million in average net assets over the first two years of distribution.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">SUGAR:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">$85,270.66 (Allocated base fee plus 1 basis point per annum on total gross offering proceeds).&nbsp;&nbsp;This maximum assumes that the Fund has a constant $250 million in average net assets over the first two years of distribution.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">WHEAT:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">$85,270.66 (Allocated base fee plus 1 basis point per annum on total gross offering proceeds).&nbsp;&nbsp;This maximum assumes that the Fund has a constant $250 million in average net assets over the first two years of distribution.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Out-Of-Pocket and Related Expenses</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The Adviser shall also reimburse Distributor for reasonable out-of-pocket
and ancillary expenses incurred in the provision of services pursuant to this Agreement, including but not limited to the </P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">following:
sales and advertising review, communications; postage and delivery services; record storage and retention; reproduction; reasonable
travel expenses incurred in connection with the provision of the services pursuant to the Distribution Services Agreement; and
any other expenses incurred in connection with the provision of the services pursuant to this Agreement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B><U>Maximum out-of-pocket expenses to be received by Foreside
per Fund over the two years of each offering:</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">NAGS:</FONT></TD>
    <TD STYLE="width: 85%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">$6,000 sales &amp; advertising FINRA filing fees</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">CRUD:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">$6,000 sales &amp; advertising FINRA filing fees</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">CORN:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">$6,000 sales &amp; advertising FINRA filing fees</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">SOYBEAN:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">$6,000 sales &amp; advertising FINRA filing fees</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">SUGAR:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">$6,000 sales &amp; advertising FINRA filing fees</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">WHEAT:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">$6,000 sales &amp; advertising FINRA filing fees</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">TAGS:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">$6,000 sales &amp; advertising FINRA filing fees </FONT></TD>
    </TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Sales and advertising FINRA filing fees are Issuer Costs as defined
pursuant to FINRA Rule 2310(b)(4)(C) and are not considered part of the Distributor&rsquo;s underwriting compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12.6pt 0 0; text-align: justify"><B>&nbsp;</B></P>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
