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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 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 September 30, 2017 and December 31, 2016:

 

September 30, 2017

                      Balance as of  
Assets:   Level 1     Level 2     Level 3     September 30, 2017  
Cash equivalents   $ 2,318,065     $ —     $ —     $ 2,318,065  
Commodity futures contracts                                
Corn futures contracts     68,413       —       —       68,413  
Soybean futures contracts     135,175       —       —       135,175  
Sugar futures contracts     14,067       —       —       14,067  
Wheat futures contracts     296,562       —       —       296,562  
Total   $ 2,832,282     $ —     $ —     $ 2,832,282  

 

                      Balance as of  
Liabilities:   Level 1     Level 2     Level 3     September 30, 2017  
Commodity futures contracts                                
Corn futures contracts   $ 2,498,213     $ —     $ —     $ 2,498,213  
Sugar futures contracts     218,456       —       —       218,456  
Wheat futures contracts     4,065,500       —       —       4,065,500  
Total   $ 6,782,169     $ —     $ —     $ 6,782,169  

 

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 September 30, 2017 and December 31, 2016:

 

September 30, 2017

 

Assets:   Level 1     Level 2     Level 3     Balance as of
September 30,
2017		  
Cash equivalents   $ 558,225     $ —     $ —     $ 558,225  
Corn futures contracts     68,413       —       —       68,413  
Total   $ 626,638     $ —     $ —     $ 626,638  

 

Liabilities:  Level 1   Level 2   Level 3   Balance as of
September 30,
2017		 
Corn futures contracts  $2,498,213   $—   $—   $2,498,213 

  

December 31, 2016

 

Assets:   Level 1     Level 2     Level 3     Balance as of
December 31, 2016		  
Cash equivalents   $ 692,293     $ —     $ —     $ 692,293  

 

Liabilities:   Level 1     Level 2     Level 3     Balance as of
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 September 30, 2017 and December 31, 2016:

 

September 30, 2017

 

Assets:   Level 1     Level 2     Level 3     Balance as of
September 30, 2017		  
Cash equivalents   $ 1,477,379     $ —     $ —     $ 1,477,379  
Soybean futures contracts     135,175       —       —       135,175  
Total   $ 1,612,554     $ —     $ —     $ 1,612,554  

   

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 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 September 30, 2017 and December 31, 2016:

 

September 30, 2017

 

                      Balance as of  
Assets:   Level 1     Level 2     Level 3     September 30, 2017  
Cash equivalents   $ 196,877     $ —     $ —     $ 196,877  
Sugar futures contracts     14,067       —       —       14,067  
 Total   $ 210,944     $ —     $ —     $ 210,944  
                         
                      Balance as of  
Liabilities:   Level 1     Level 2     Level 3     September 30, 2017  
Sugar futures contracts   $ 218,456     $ —     $ —     $ 218,456  

 

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 September 30, 2017 and December 31, 2016:

 

September 30, 2017

 

Assets:  Level 1   Level 2   Level 3   Balance as of
September 30, 2017		 
Cash equivalents  $84,617   $—   $—   $84,617 
Wheat futures contracts   296,562    —    —    296,562 
Total  $381,179   $—   $—   $381,179 

 

Liabilities:  Level 1   Level 2   Level 3   Balance as of
September 30, 2017		 
Wheat futures contracts  $4,065,500   $—   $—   $4,065,500 

 

December 31, 2016

 

Assets:  Level 1   Level 2   Level 3   Balance as of
December 31, 2016		 
Cash equivalents  $406,927   $—   $—   $406,927 
                     

 

Liabilities:  Level 1   Level 2   Level 3   Balance as of
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 2. The following table presents information about the Fund’s assets and liabilities measured at fair value as of September 30, 2017 and December 31, 2016:

 

September 30, 2017

 

               Balance as of 
Assets:  Level 1   Level 2   Level 3   September 30, 2017 
Exchange-traded funds  $1,175,368   $—   $—   $1,175,368 
Cash equivalents   967    —    —    967 
Total  $1,176,335   $—   $—   $1,176,335 

 

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