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Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2017
Teucrium Commodity Trust - Combined [Member]  
Schedule of Fair Value of Derivative Instruments

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 September 30, 2017 and December 31, 2016.

 

Offsetting of Financial Assets and Derivative Assets as of September 30, 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                          
    Gross Amount     Statement of     Statement of                          
    of Recognized     Assets and     Assets and     Futures Contracts     Collateral, Due          
Description   Assets     Liabilities     Liabilities     Available for Offset     from Broker     Net Amount  
Commodity price                                                
Corn futures contracts   $ 68,413     $ —     $ 68,413     $ 68,413     $ —     $ —  
Soybean futures contracts     135,175       —       135,175       —       —       135,175  
Sugar futures contracts     14,067       —       14,067       14,067       —       —  
Wheat futures contracts     296,562       —       296,562       296,562       —       —  

 

Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 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                    
    Gross Amount     Statement of     Statement of                    
    of Recognized     Assets and     Assets and     Futures Contracts     Collateral, Due        
Description   Liabilities     Liabilities     Liabilities     Available for Offset     to Broker     Net Amount  
Commodity price                                                
Corn futures contracts   $ 2,498,213     $ —     $ 2,498,213     $ 68,413     $ 2,429,800     $ —  
Sugar futures contracts     218,456       —       218,456       14,067       204,389       —  
Wheat futures contracts     4,065,500       —       4,065,500       296,562       3,768,938       —  

 

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                        
    Gross Amount     Statement of     Statement of                        
    of Recognized     Assets and     Assets and     Futures Contracts     Collateral, Due          
Description   Assets     Liabilities     Liabilities     Available for Offset     from 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                          
    Gross Amount     Statement of     Statement of                          
    of Recognized     Assets and     Assets and     Futures Contracts     Collateral, Due          
Description   Liabilities     Liabilities     Liabilities     Available for Offset     to 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 September 30, 2017

 

         
Primary Underlying Risk  Realized (Loss) Gain on
Commodity Futures
Contracts		   Net Change in Unrealized
Depreciation or
Appreciation on
Commodity Futures
Contracts		 
Commodity price          
Corn futures contracts  $(1,616,988)  $(3,363,975)
Soybean futures contracts   (24,025)   241,863 
Sugar futures contracts   (678,070)   532,963 
Wheat futures contracts   1,955,888    (11,125,988)
Total commodity futures contracts  $(363,195)  $(13,175,137)

 

Three months ended September 30, 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  $(6,486,500)  $937,100 
Soybean futures contracts   28,163    (1,612,025)
Sugar futures contracts   948,483    (18,088)
Wheat futures contracts   (5,677,475)   (692,500)
Total commodity futures contracts  $(11,187,329)  $(1,385,513)

 

Nine months ended September 30, 2017

                 
Primary Underlying Risk   Realized (Loss) Gain on
Commodity Futures
Contracts		     Net Change in Unrealized
Depreciation or
Appreciation on
Commodity Futures
Contracts		  
Commodity price                
Corn futures contracts   $ (2,064,200 )   $ (969,000 )
Soybean futures contracts     7,475       (210,300 )
Sugar futures contracts     (2,266,185 )     (57,994 )
Wheat futures contracts     1,286,087       152,650  
Total commodity futures contracts   $ (3,036,823 )   $ (1,084,644 )

 

 

Nine months ended September 30, 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   $ (8,878,588 )   $ 1,188,163  
Soybean futures contracts     990,062       (21,100 )
Sugar futures contracts     1,957,357       305,435  
Wheat futures contracts     (7,244,175 )     (2,107,750 )
Total commodity futures contracts   $ (13,175,344 )   $ (635,252 )
Teucrium Corn Fund [Member]  
Schedule of Fair Value of Derivative Instruments

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 September 30, 2017 and December 31, 2016.

 

Offsetting of Financial Assets and Derivative Assets as of September 30, 2017

 

   (i)   (i)   (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
from Broker		    Net Amount  
Commodity price                                 
Corn futures contracts  $68,413   $—   $ 68,413  $ 68,413  $—    $ —  

 

Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 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
to Broker		     Net Amount
Commodity price                                 
Corn futures contracts   $ 2,498,213     $ —     $ 2,498,213     $ 68,413   $ 2,429,800     $ —

  

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
to 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

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 September 30, 2017

 

Primary Underlying Risk     Realized Loss on
Commodity Futures Contracts		     Net Change in Unrealized
Depreciation on Commodity
Futures Contracts		  
Commodity Price                  
Corn futures contracts     $ (1,616,988 )   $ (3,363,975 )

  

Three months ended September 30, 2016

               
Primary Underlying Risk     Realized Loss on
Commodity Futures Contracts		     Net Change in Unrealized
Appreciation on Commodity
Futures Contracts		  
Commodity Price                  
Corn futures contracts     $ (6,486,500 )   $ 937,100  

 

Nine months ended September 30, 2017  

               
Primary Underlying Risk     Realized Loss on
Commodity Futures Contracts		     Net Change in Unrealized
Depreciation on Commodity
Futures Contracts		  
Commodity Price                  
Corn futures contracts     $ (2,064,200 )   $ (969,000 )

 

Nine months ended September 30, 2016  

               
Primary Underlying Risk     Realized Loss on
Commodity Futures Contracts		     Net Change in Unrealized
Appreciation on Commodity
Futures Contracts		  
Commodity Price                  
Corn futures contracts     $ (8,878,588 )   $ 1,188,163  
Teucrium Soybean Fund [Member]  
Schedule of Fair Value of Derivative Instruments

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 September 30, 2017 and December 31, 2016.

  

Offsetting of Financial Assets and Derivative Assets as of September 30, 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
from Broker		     Net Amount  
Commodity price                                    
Soybean futures contracts   $ 135,175     $ —     $ 135,175     $ —     $ —     $ 135,175  
                                                 

 

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
from 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
to 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 September 30, 2017

 

Primary Underlying Risk   Realized Loss on
Commodity Futures Contracts		     Net Change in Unrealized
Appreciation on
Commodity Futures Contracts		  
Commodity price            
Soybean futures contracts   $ (24,025 )   $ 241,863  

 

Three months ended September 30, 2016

 

Primary Underlying Risk   Realized Gain on
Commodity Futures Contracts		     Net Change in Unrealized
 Depreciation on
Commodity Futures Contracts		  
Commodity price            
Soybean futures contracts   $ 28,163     $ (1,612,025 )

 

Nine months ended September 30, 2017

 

Primary Underlying Risk   Realized Gain on
Commodity Futures Contracts		     Net Change in Unrealized
Depreciation on
Commodity Futures Contracts		  
Commodity price            
Soybean futures contracts   $ 7,475     $ (210,300 )

 

Nine months ended September 30, 2016

 

Primary Underlying Risk   Realized Gain on
Commodity Futures Contracts		     Net Change in Unrealized
 Depreciation on
Commodity Futures Contracts		  
Commodity price            
Soybean futures contracts   $ 990,062     $ (21,100 )
Teucrium Sugar Fund [Member]  
Schedule of Fair Value of Derivative Instruments

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 September 30, 2017 and December 31, 2016.

 

Offsetting of Financial Assets and Derivative Assets as of September 30, 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                      
    Gross Amount     Statement of     Statement of                      
    of Recognized     Assets and     Assets and     Futures Contracts     Collateral, Due        
Description   Assets     Liabilities     Liabilities     Available for Offset     to Broker      Net Amount  
Commodity price                                        
Sugar futures contracts   $ 14,067     $ —     $ 14,067     $ 14,067     $ —     $ —  

 

Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 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                      
    Gross Amount     Statement of     Statement of                      
    of Recognized     Assets and     Assets and     Futures Contracts     Collateral, Due        
Description   Liabilities     Liabilities     Liabilities     Available for Offset     from Broker      Net Amount  
Commodity price                                        
Sugar futures contracts   $ 218,456     $ —     $ 218,456     $ 14,067     $ 204,389     $ —  

  

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
from 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
to 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 September 30, 2017

 

Primary Underlying Risk  Realized Loss
on Commodity
Futures Contracts		   Net Change in Unrealized
Appreciation on
Commodity Futures
Contracts		 
Commodity price          
Sugar futures contracts  $(678,070)  $532,963 

 

Three months ended September 30, 2016

 

Primary Underlying Risk  Realized Gain
on Commodity
Futures Contracts		   Net Change in Unrealized
Depreciation on
Commodity Futures
Contracts		 
Commodity price          
Sugar futures contracts  $948,483   $(18,088)

 

Nine months ended September 30, 2017

 

Primary Underlying Risk 

Realized Loss on Commodity Futures
Contracts

   Net Change in Unrealized
Depreciation on
Commodity Futures
Contracts		 
Commodity price          
Sugar futures contracts  $(2,266,185)  $(57,994)

 

Nine months ended September 30, 2016

 

Primary Underlying Risk  Realized Gain on
Commodity Futures
Contracts		   Net Change in Unrealized
Appreciation on
Commodity Futures
Contracts		 
Commodity price          
Sugar futures contracts  $1,957,357   $305,435 
Teucrium Wheat Fund [Member]  
Schedule of Fair Value of Derivative Instruments

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 September 30, 2017 and December 31, 2016.

 

Offsetting of Financial Assets and Derivative Assets as of September 30, 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
from Broker		     Net Amount  
Commodity price                                    
Wheat futures contracts   $ 296,562     $ —     $ 296,562     $ 296,562     $ —     $ —  

 

Offsetting of Financial Liabilities and Derivative Liabilities as of September 30, 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
to Broker		     Net Amount  
Commodity price                                    
Wheat futures contracts   $ 4,065,500     $ —     $ 4,065,500     $ 296,562     $ 3,768,938     $ —  

 

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
to 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 September 30, 2017

 

Primary Underlying Risk  

Realized Gain on
Commodity Futures
Contracts

    

Net Change in Unrealized
Depreciation on
Commodity Futures
Contracts

  
Commodity price                
Wheat futures contracts   $ 1,955,888     $ (11,125,988 )

 

Three months ended September 30, 2016

 

Primary Underlying Risk  

Realized Loss on
Commodity Futures
Contracts

    

Net Change in Unrealized
Depreciation on
Commodity Futures
Contracts

  
Commodity price                
Wheat futures contracts   $ (5,677,475 )   $ (692,500 )

 

Nine months ended September 30, 2017

 

Primary Underlying Risk  

Realized Gain on
Commodity Futures
Contracts

    

Net Change in Unrealized
Appreciation on
Commodity Futures
Contracts

  
Commodity price                
Wheat futures contracts   $ 1,286,087     $ 152,650  

 

Nine months ended September 30, 2016

 

Primary Underlying Risk  

Realized Loss on
Commodity Futures
Contracts

    

Net Change in Unrealized
Depreciation on
Commodity Futures Contracts

  
Commodity price                
Wheat futures contracts   $ (7,244,175 )   $ (2,107,750 )