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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2017
Teucrium Commodity Trust - Combined [Member] |
Schedule of Assets and Liabilities Measured at Fair Value | The following table presents information about the Trust’s assets and liabilities measured at fair value as of March 31, 2017 and December 31, 2016: March 31, 2017
|  |  |  |  |  |  |  |  |  |  | Balance as of |
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | March 31, 2017 |
Cash equivalents |  | $ | 318,571 |  |  | $ | — |  |  | $ | — |  |  | $ | 318,571 |
Commodity futures contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Soybean futures contracts |  |  | 3,188 |  |  |  | — |  |  |  | — |  |  |  | 3,188 |
Total |  | $ | 321,759 |  |  | $ | — |  |  | $ | — |  |  | $ | 321,759 |
|  |  |  |  |  |  |  |  |  |  | Balance as of |
Liabilities: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | March 31, 2017 |
Commodity futures contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | 520,550 |  |  | $ | — |  |  | $ | — |  |  | $ | 520,550 |
Soybean futures contracts |  |  | 488,863 |  |  |  | — |  |  |  | — |  |  |  | 488,863 |
Sugar futures contracts |  |  | 523,320 |  |  |  | — |  |  |  | — |  |  |  | 523,320 |
Wheat futures contracts |  |  | 2,958,875 |  |  |  | — |  |  |  | — |  |  |  | 2,958,875 |
Total |  | $ | 4,491,608 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,491,608 |
December 31, 2016
|  |  |  |  |  |  |  |  |  |  | Balance as of |
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | December 31, 2016 |
Cash equivalents |  | $ | 1,412,423 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,412,423 |
Commodity futures contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Soybean futures contracts |  |  | 357,500 |  |  |  | — |  |  |  | — |  |  |  | 357,500 |
Sugar futures contracts |  |  | 185,147 |  |  |  | — |  |  |  | — |  |  |  | 185,147 |
Total |  | $ | 1,955,070 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,955,070 |
|  |  |  |  |  |  |  |  |  |  | Balance as of |
Liabilities: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | December 31, 2016 |
Commodity futures contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | 1,460,800 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,460,800 |
Soybean futures contracts |  |  | 12,025 |  |  |  | — |  |  |  | — |  |  |  | 12,025 |
Sugar futures contracts |  |  | 331,542 |  |  |  | — |  |  |  | — |  |  |  | 331,542 |
Wheat futures contracts |  |  | 3,921,588 |  |  |  | — |  |  |  | — |  |  |  | 3,921,588 |
Total |  | $ | 5,725,955 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,725,955 |
Teucrium Corn Fund [Member] |
Schedule of Assets and Liabilities Measured at Fair Value | The following table presents information about the Fund’s assets and liabilities measured at fair value as of March 31, 2017 and December 31, 2016: March 31, 2017
|  |  |  |  |  |  |  |  |  |  | Balance as of |
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | March 31, 2017 |
Cash equivalents |  | $ | 221,593 |  |  | $ | — |  |  | $ | — |  |  | $ | 221,593 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Balance as of |
Liabilities: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | March 31, 2017 |
Corn futures contracts |  | $ | 520,550 |  |  | $ | — |  |  | $ | — |  |  | $ | 520,550 |
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Balance as of |
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | December 31, 2016 |
Cash equivalents |  | $ | 692,293 |  |  | $ | — |  |  | $ | — |  |  | $ | 692,293 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Balance as of |
Liabilities: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | December 31, 2016 |
Corn futures contracts |  | $ | 1,460,800 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,460,800 |
Teucrium Soybean Fund [Member] |
Schedule of Assets and Liabilities Measured at Fair Value | The following table presents information about the Fund’s assets and liabilities measured at fair value as of March 31, 2017 and December 31, 2016: March 31, 2017
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Balance as of March 31, 2017 |
Cash equivalents |  | $ | 6,917 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,917 |
Soybean futures contracts |  |  | 3,188 |  |  |  | — |  |  |  | — |  |  |  | 3,188 |
Total |  | $ | 10,105 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,105 |
Liabilities: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Balance as of March 31, 2017 |
Soybean futures contracts |  | $ | 488,863 |  |  | $ | — |  |  | $ | — |  |  | $ | 488,863 |
December 31, 2016
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Balance as of December 31, 2016 |
Cash equivalents |  | $ | 185,661 |  |  | $ | — |  |  | $ | — |  |  | $ | 185,661 |
Soybean futures contracts |  |  | 357,500 |  |  |  | — |  |  |  | — |  |  |  | 357,500 |
Total |  | $ | 543,161 |  |  | $ | — |  |  | $ | — |  |  | $ | 543,161 |
Liabilities: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Balance as of December 31, 2016 |
Soybean futures contracts |  | $ | 12,025 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,025 |
Teucrium Sugar Fund [Member] |
Schedule of Assets and Liabilities Measured at Fair Value | The following table presents information about the Fund’s assets and liabilities measured at fair value as of March 31, 2017 and December 31, 2016: March 31, 2017
|  |  |  |  |  |  |  |  |  |  | Balance as of |
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | March 31, 2017 |
Cash equivalents |  | $ | 78,978 |  |  | $ | — |  |  | $ | — |  |  | $ | 78,978 |
|  |  |  |  |  |  |  |  |  |  | Balance as of |
Liabilities: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | March 31, 2017 |
Sugar futures contracts |  | $ | 523,320 |  |  | $ | — |  |  | $ | — |  |  | $ | 523,320 |
December 31, 2016
|  |  |  |  |  |  |  |  |  |  | Balance as of |
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | December 31, 2016 |
Cash equivalents |  | $ | 125,182 |  |  | $ | — |  |  | $ | — |  |  | $ | 125,182 |
Sugar futures contracts |  |  | 185,147 |  |  |  | — |  |  |  | — |  |  |  | 185,147 |
Total |  | $ | 310,329 |  |  | $ | — |  |  | $ | — |  |  | $ | 310,329 |
|  |  |  |  |  |  |  |  |  |  | Balance as of |
Liabilities: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | December 31, 2016 |
Sugar futures contracts |  | $ | 331,542 |  |  | $ | — |  |  | $ | — |  |  | $ | 331,542 |
Teucrium Wheat Fund [Member] |
Schedule of Assets and Liabilities Measured at Fair Value | The Fund’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Fund’s significant accounting policies in Note 3. The following table presents information about the Fund’s assets and liabilities measured at fair value as of March 31, 2017 and December 31, 2016: March 31, 2017
|  |  |  |  |  |  |  |  |  |  | Balance as of |
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | March 31, 2017 |
Cash equivalents |  | $ | 9,018 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,018 |
|  |  |  |  |  |  |  |  |  |  | Balance as of |
Liabilities: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | March 31, 2017 |
Wheat futures contracts |  | $ | 2,958,875 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,958,875 |
December 31, 2016
|  |  |  |  |  |  |  |  |  |  | Balance as of |
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | December 31, 2016 |
Cash equivalents |  | $ | 406,927 |  |  | $ | — |  |  | $ | — |  |  | $ | 406,927 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Balance as of |
Liabilities: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | December 31, 2016 |
Wheat futures contracts |  | $ | 3,921,588 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,921,588 |
Teucrium Agricultural Fund [Member] |
Schedule of Assets and Liabilities Measured at Fair Value | The Fund’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Fund’s significant accounting policies in Note 3. The following table presents information about the Fund’s assets and liabilities measured at fair value as of March 31, 2017 and December 31, 2016: March 31, 2017
|  |  |  |  |  |  |  |  |  |  | Balance as of |
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | March 31, 2017 |
Exchange-traded funds |  | $ | 1,273,720 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,273,720 |
Cash equivalents |  |  | 2,065 |  |  |  | — |  |  |  | — |  |  |  | 2,065 |
Total |  | $ | 1,275,785 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,275,785 |
December 31, 2016
|  |  |  |  |  |  |  |  |  |  | Balance as of |
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | December 31, 2016 |
Exchange-traded funds |  | $ | 1,313,554 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,313,554 |
Cash equivalents |  |  | 2,360 |  |  |  | — |  |  |  | — |  |  |  | 2,360 |
Total |  | $ | 1,315,914 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,315,914 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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