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Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended
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Mar. 31, 2017
Teucrium Commodity Trust - Combined [Member] |
Schedule of Fair Value of Derivative Instruments | The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) No. 2011-11 “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities” and subsequently clarified in FASB ASU 2013-01 “Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities.” The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCM, ED&F Man as of March 31, 2017 and December 31, 2016. Offsetting of Financial Assets and Derivative Assets as of March 31, 2017
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  |  | (iv) |  |  | (v) = (iii) – (iv) |
|  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the |  |  |  |
|  |  |  |  |  |  |  |  |  |  | Statement of Assets and Liabilities |  |  |  |
|  |  |  |  | Gross Amount |  |  | Net Amount |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Offset in the |  |  | Presented in the |  |  | Futures |  |  |  |  |  |  |
|  | Gross Amount |  |  | Statement of |  |  | Statement of |  |  | Contracts |  |  |  |  |  |  |
|  | of Recognized |  |  | Assets and |  |  | Assets and |  |  | Available for |  |  | Collateral, Due |  |  |  |
Description |  | Assets |  |  | Liabilities |  |  | Liabilities |  |  | Offset |  |  | to Broker |  |  | Net Amount |
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Soybean futures contracts |  | $ | 3,188 |  |  | $ | — |  |  | $ | 3,188 |  |  | $ | 3,188 |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2017
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  |  | (iv) |  |  | (v) = (iii) – (iv) |
|  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the |  |  |  |
|  |  |  |  |  |  |  |  |  |  | Statement of Assets and Liabilities |  |  |  |
|  |  |  |  | Gross Amount |  |  | Net Amount |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Offset in the |  |  | Presented in the |  |  | Futures |  |  |  |  |  |  |
|  | Gross Amount |  |  | Statement of |  |  | Statement of |  |  | Contracts |  |  |  |  |  |  |
|  | of Recognized |  |  | Assets and |  |  | Assets and |  |  | Available for |  |  | Collateral, Due |  |  |  |
Description |  | Liabilities |  |  | Liabilities |  |  | Liabilities |  |  | Offset |  |  | from Broker |  |  | Net Amount |
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | 520,550 |  |  | $ | — |  |  | $ | 520,550 |  |  | $ | — |  |  | $ | 520,550 |  |  | $ | — |
Soybean futures contracts |  |  | 488,863 |  |  |  | — |  |  |  | 488,863 |  |  |  | 3,188 |  |  |  | 485,675 |  |  |  | — |
Sugar futures contracts |  |  | 523,320 |  |  |  | — |  |  |  | 523,320 |  |  |  | — |  |  |  | 523,320 |  |  |  | — |
Wheat futures contracts |  |  | 2,958,875 |  |  |  | — |  |  |  | 2,958,875 |  |  |  | — |  |  |  | 2,958,875 |  |  |  | — |
Offsetting of Financial Assets and Derivative Assets as of December 31, 2016
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  |  | (iv) |  |  | (v) = (iii) – (iv) |
|  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the |  |  |  |
|  |  |  |  |  |  |  |  |  |  | Statement of Assets and Liabilities |  |  |  |
|  |  |  |  | Gross Amount |  |  | Net Amount |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Offset in the |  |  | Presented in the |  |  | Futures |  |  |  |  |  |  |
|  | Gross Amount |  |  | Statement of |  |  | Statement of |  |  | Contracts |  |  |  |  |  |  |
|  | of Recognized |  |  | Assets and |  |  | Assets and |  |  | Available for |  |  | Collateral, Due |  |  |  |
Description |  | Assets |  |  | Liabilities |  |  | Liabilities |  |  | Offset |  |  | to Broker |  |  | Net Amount |
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Soybean futures contracts |  | $ | 357,500 |  |  | $ | — |  |  | $ | 357,500 |  |  | $ | 12,025 |  |  | $ | — |  |  | $ | 345,475 |
Sugar futures contracts |  |  | 185,147 |  |  |  | — |  |  |  | 185,147 |  |  |  | 185,147 |  |  |  | — |  |  |  | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2016
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  |  | (iv) |  |  | (v) = (iii) – (iv) |
|  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the |  |  |  |
|  |  |  |  |  |  |  |  |  |  | Statement of Assets and Liabilities |  |  |  |
|  |  |  |  | Gross Amount |  |  | Net Amount |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Offset in the |  |  | Presented in the |  |  | Futures |  |  |  |  |  |  |
|  | Gross Amount |  |  | Statement of |  |  | Statement of |  |  | Contracts |  |  |  |  |  |  |
|  | of Recognized |  |  | Assets and |  |  | Assets and |  |  | Available for |  |  | Collateral, Due |  |  |  |
Description |  | Liabilities |  |  | Liabilities |  |  | Liabilities |  |  | Offset |  |  | from Broker |  |  | Net Amount |
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | 1,460,800 |  |  | $ | — |  |  | $ | 1,460,800 |  |  | $ | — |  |  | $ | 1,460,800 |  |  | $ | — |
Soybean futures contracts |  |  | 12,025 |  |  |  | — |  |  |  | 12,025 |  |  |  | 12,025 |  |  |  | — |  |  |  | — |
Sugar futures contracts |  |  | 331,542 |  |  |  | — |  |  |  | 331,542 |  |  |  | 185,147 |  |  |  | 146,395 |  |  |  | — |
Wheat futures contracts |  |  | 3,921,588 |  |  |  | — |  |  |  | 3,921,588 |  |  |  | — |  |  |  | 3,921,588 |  |  |  | — |
Summary of Realized and Unrealized Gains (Losses) of the Derivative Instruments | The following is a summary of realized and unrealized gains (losses) of the derivative instruments utilized by the Trust: Three months ended March 31, 2017
Primary Underlying Risk |  | Realized Gain (Loss) on Commodity Futures Contracts |  |  | Net Change in Unrealized Appreciation or Depreciation on Commodity Futures Contracts |
Commodity price |  |  |  |  |  |
Corn futures contracts |  | $ | 280,775 |  |  | $ | 940,250 |
Soybean futures contracts |  |  | 342,912 |  |  |  | (831,150 | )
Sugar futures contracts |  |  | (206,248 | ) |  |  | (376,925 | )
Wheat futures contracts |  |  | (175,300 | ) |  |  | 962,713 |
Total commodity futures contracts |  | $ | 242,139 |  |  | $ | 694,888 |
Three months ended March 31, 2016
Primary Underlying Risk |  | Realized (Loss) Gain on Commodity Futures Contracts |  |  | Net Change in Unrealized Appreciation or Depreciation on Commodity Futures Contracts |
Commodity price |  |  |  |  |  |
Corn futures contracts |  | $ | (2,091,875 | ) |  | $ | (152,100 | )
Soybean futures contracts |  |  | 100,325 |  |  |  | 344,625 |
Sugar futures contracts |  |  | (1,758 | ) |  |  | (2,475 | )
Wheat futures contracts |  |  | (569,113 | ) |  |  | 396,989 |
Total commodity futures contracts |  | $ | (2,562,421 | ) |  | $ | 587,039 |
Teucrium Corn Fund [Member] |
Schedule of Fair Value of Derivative Instruments | The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in FASB ASU No. 2011-11 “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities” and subsequently clarified in FASB ASU 2013-01 “Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities.” The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCM, ED&F Man as of March 31, 2017 and December 31, 2016. Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2017
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  |  | (iv) |  |  | (v) = (iii) – (iv) |
|  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the Statement of Assets and Liabilities |  |  |  |
Description |  | Gross Amount of Recognized Liabilities |  |  | Gross Amount Offset in the Statement of Assets and Liabilities |  |  | Net Amount Presented in the Statement of Assets and Liabilities |  |  | Futures Contracts Available for Offset |  |  | Collateral, Due from Broker |  |  | Net Amount |
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | 520,550 |  |  | $ | — |  |  | $ | 520,550 |  |  | $ | — |  |  | $ | 520,550 |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2016
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  |  | (iv) |  |  | (v) = (iii) – (iv) |
|  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the Statement of Assets and Liabilities |  |  |  |
Description |  | Gross Amount of Recognized Liabilities |  |  | Gross Amount Offset in the Statement of Assets and Liabilities |  |  | Net Amount Presented in the Statement of Assets and Liabilities |  |  | Futures Contracts Available for Offset |  |  | Collateral, Due from Broker |  |  | Net Amount |
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | 1,460,800 |  |  | $ | — |  |  | $ | 1,460,800 |  |  | $ | — |  |  | $ | 1,460,800 |  |  | $ | — |
Summary of Realized and Unrealized Gains (Losses) of the Derivative Instruments | he following tables identify the net gain and loss amounts included in the statements of operations as realized and unrealized gains and losses on trading of commodity futures contracts categorized by primary underlying risk: Three months ended March 31, 2017
|  |  | Realized Gain on |  |  | Net Change in Unrealized Appreciation or |
Primary Underlying Risk |  |  | Commodity Futures Contracts |  |  | Depreciation on Commodity Futures Contracts |
Commodity Price |  |  |  |  |  |  |  |  |
Corn futures contracts |  |  | $ | 280,775 |  |  | $ | 940,250 |
Three months ended March 31, 2016
|  |  |  | Realized Loss on |  |  | Net Change in Unrealized Appreciation or |
Primary Underlying Risk |  |  | Commodity Futures Contracts |  |  | Depreciation on Commodity Futures Contracts |
Commodity Price |  |  |  |  |  |  |  |  |
Corn futures contracts |  |  | $ | (2,091,875 | ) |  | $ | (152,100 | )
Teucrium Soybean Fund [Member] |
Schedule of Fair Value of Derivative Instruments | The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in FASB ASU No. 2011-11 “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities” and subsequently clarified in FASB ASU 2013-01 “Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities.” The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCM, ED&F Man as of March 31, 2017 and December 31, 2016. Offsetting of Financial Assets and Derivative Assets as of March 31, 2017
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  |  | (iv) |  |  | (v) = (iii) – (iv) |
|  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the Statement of Assets and Liabilities |  |  |  |
Description |  | Gross Amount of Recognized Assets |  |  | Gross Amount Offset in the Statement of Assets and Liabilities |  |  | Net Amount Presented in the Statement of Assets and Liabilities |  |  | Futures Contracts Available for Offset |  |  | Collateral, Due to Broker |  |  | Net Amount |
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Soybean futures contracts |  | $ | 3,188 |  |  | $ | — |  |  | $ | 3,188 |  |  | $ | 3,188 |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2017
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  |  | (iv) |  |  | (v) = (iii) – (iv) |
|  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the Statement of Assets and Liabilities |  |  |  |
Description |  | Gross Amount of Recognized Liabilities |  |  | Gross Amount Offset in the Statement of Assets and Liabilities |  |  | Net Amount Presented in the Statement of Assets and Liabilities |  |  | Futures Contracts Available for Offset |  |  | Collateral, Due from Broker |  |  | Net Amount |
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Soybean futures contracts |  | $ | 488,863 |  |  | $ | — |  |  | $ | 488,863 |  |  | $ | 3,188 |  |  | $ | 485,675 |  |  | $ | — |
Offsetting of Financial Assets and Derivative Assets as of December 31, 2016
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  |  | (iv) |  |  | (v) = (iii) – (iv) |
|  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the Statement of Assets and Liabilities |  |  |  |
Description |  | Gross Amount of Recognized Assets |  |  | Gross Amount Offset in the Statement of Assets and Liabilities |  |  | Net Amount Presented in the Statement of Assets and Liabilities |  |  | Futures Contracts Available for Offset |  |  | Collateral, Due to Broker |  |  | Net Amount |
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Soybean futures contracts |  | $ | 357,500 |  |  | $ | — |  |  | $ | 357,500 |  |  | $ | 12,025 |  |  | $ | — |  |  | $ | 345,475 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2016
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  |  | (iv) |  |  | (v) = (iii) – (iv) |
|  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the Statement of Assets and Liabilities |  |  |  |
Description |  | Gross Amount of Recognized Liabilities |  |  | Gross Amount Offset in the Statement of Assets and Liabilities |  |  | Net Amount Presented in the Statement of Assets and Liabilities |  |  | Futures Contracts Available for Offset |  |  | Collateral, Due from Broker |  |  | Net Amount |
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Soybean futures contracts |  | $ | 12,025 |  |  | $ | — |  |  | $ | 12,025 |  |  | $ | 12,025 |  |  | $ | — |  |  | $ | — |
Summary of Realized and Unrealized Gains (Losses) of the Derivative Instruments | The following is a summary of realized and unrealized gains and losses of the derivative instruments utilized by the Fund: Three months ended March 31, 2017
Primary Underlying Risk |  | Realized Gain on Commodity Futures Contracts |  |  | Net Change in Unrealized Appreciation or Depreciation on Commodity Futures Contracts |
Commodity price |  |  |  |  |  |  |  |
Soybean futures contracts |  | $ | 342,912 |  |  | $ | (831,150 | )
Three months ended March 31, 2016
Primary Underlying Risk |  | Realized Gain on Commodity Futures Contracts |  |  | Net Change in Unrealized Appreciation or Depreciation on Commodity Futures Contracts |
Commodity price |  |  |  |  |  |  |  |
Soybean futures contracts |  | $ | 100,325 |  |  | $ | 344,625 |
Teucrium Sugar Fund [Member] |
Schedule of Fair Value of Derivative Instruments | The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in FASB ASU No. 2011-11 “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities” and subsequently clarified in FASB ASU 2013-01 “Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities.” The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCM, ED&F Man as of March 31, 2017 and December 31, 2016. Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2017
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  | (iv) |  | (v) = (iii) – (iv)
|  |  |  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the Statement of Assets and Liabilities |  |
Description |  | Gross Amount of Recognized Liabilities |  |  | Gross Amount Offset in the Statement of Assets and Liabilities |  |  | Net Amount Presented in the Statement of Assets and Liabilities |  | Futures Contracts Available for Offset |  | Collateral, Due from Broker |  | Net Amount
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sugar futures contracts |  | $ | 523,320 |  |  | $ | — |  |  | $ | 523,320 |  | $ | — |  | $ | 523,320 |  | $ | —
Offsetting of Financial Assets and Derivative Assets as of December 31, 2016
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  | (iv) |  | (v) = (iii) – (iv)
|  |  |  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the Statement of Assets and Liabilities |  |
Description |  | Gross Amount of Recognized Assets |  |  | Gross Amount Offset in the Statement of Assets and Liabilities |  |  | Net Amount Presented in the Statement of Assets and Liabilities |  | Futures Contracts Available for Offset |  | Collateral, Due to Broker |  | Net Amount
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sugar futures contracts |  | $ | 185,147 |  |  | $ | — |  |  | $ | 185,147 |  | $ | 185,147 |  | $ | — |  | $ | —
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2016
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  | (iv) |  | (v) = (iii) – (iv)
|  |  |  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the Statement of Assets and Liabilities |  |
Description |  | Gross Amount of Recognized Liabilities |  |  | Gross Amount Offset in the Statement of Assets and Liabilities |  |  | Net Amount Presented in the Statement of Assets and Liabilities |  | Futures Contracts Available for Offset |  | Collateral, Due from Broker |  | Net Amount
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sugar futures contracts |  | $ | 331,542 |  |  | $ | — |  |  | $ | 331,542 |  | $ | 185,147 |  | $ | 146,395 |  | $ | —
Summary of Realized and Unrealized Gains (Losses) of the Derivative Instruments | The following tables identify the net gain and loss amounts included in the statements of operations as realized and unrealized gains and losses on trading of commodity futures contracts categorized by primary underlying risk: Three months ended March 31, 2017
Primary Underlying Risk |  | Realized Loss on Commodity Futures Contracts |  |  | Net Change in Unrealized Appreciation or Depreciation on Commodity Futures Contracts |
Commodity price |  |  |  |  |  |
Sugar futures contracts |  | $ | (206,248 | ) |  | $ | (376,925 | )
Three months ended March 31, 2016
Primary Underlying Risk |  | Realized Loss on Commodity Futures Contracts |  |  | Net Change in Unrealized Appreciation or Depreciation on Commodity Futures Contracts |
Commodity price |  |  |  |  |  |
Sugar futures contracts |  | $ | (1,758 | ) |  | $ | (2,475 | )
Teucrium Wheat Fund [Member] |
Schedule of Fair Value of Derivative Instruments | The following table discloses information about offsetting assets and liabilities presented in the statements of assets and liabilities to enable users of these financial statements to evaluate the effect or potential effect of netting arrangements for recognized assets and liabilities. These recognized assets and liabilities are presented as defined in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) No. 2011-11 “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities” and subsequently clarified in FASB ASU 2013-01 “Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities.” The following table also identifies the fair value amounts of derivative instruments included in the statements of assets and liabilities as derivative contracts, categorized by primary underlying risk and held by the FCM, ED&F Man as of March 31, 2017 and December 31, 2016. Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2017
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  |  | (iv) |  |  | (v) = (iii) – (iv) |
|  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the Statement of Assets and Liabilities |  |  |  |
Description |  | Gross Amount of Recognized Liabilities |  |  | Gross Amount Offset in the Statement of Assets and Liabilities |  |  | Net Amount Presented in the Statement of Assets and Liabilities |  |  | Futures Contracts Available for Offset |  |  | Collateral, Due from Broker |  |  | Net Amount |
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Wheat futures contracts |  | $ | 2,958,875 |  |  | $ | — |  |  | $ | 2,958,875 |  |  | $ | — |  |  | $ | 2,958,875 |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2016
|  | (i) |  |  | (ii) |  |  | (iii) = (i) – (ii) |  |  | (iv) |  |  | (v) = (iii) – (iv) |
|  |  |  |  |  |  |  |  |  |  | Gross Amount Not Offset in the Statement of Assets and Liabilities |  |  |  |
Description |  | Gross Amount of Recognized Liabilities |  |  | Gross Amount Offset in the Statement of Assets and Liabilities |  |  | Net Amount Presented in the Statement of Assets and Liabilities |  |  | Futures Contracts Available for Offset |  |  | Collateral, Due from Broker |  |  | Net Amount |
Commodity price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Wheat futures contracts |  | $ | 3,921,588 |  |  | $ | — |  |  | $ | 3,921,588 |  |  | $ | — |  |  | $ | 3,921,588 |  |  | $ | — |
Summary of Realized and Unrealized Gains (Losses) of the Derivative Instruments | The following tables identify the net gain and loss amounts included in the statements of operations as realized and unrealized gains and losses on trading of commodity futures contracts categorized by primary underlying risk: Three months ended March 31, 2017
Primary Underlying Risk |  | Realized Loss on Commodity Futures Contracts |  |  | Net Change in Unrealized Appreciation or Depreciation on Commodity Futures Contracts |
Commodity price |  |  |  |  |  |  |  |
Wheat futures contracts |  | $ | (175,300 | ) |  | $ | 962,713 |
Three months ended March 31, 2016
Primary Underlying Risk |  | Realized Loss on Commodity Futures Contracts |  |  | Net Change in Unrealized Appreciation or Depreciation on Commodity Futures Contracts |
Commodity price |  |  |  |  |  |  |  |
Wheat futures contracts |  | $ | (569,113 | ) |  | $ | 396,989 |

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