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v3.23.2

Note 5 - Derivative Instruments and Hedging Activities - Teucrium Soybean Fund (Tables) | 6 Months Ended
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Jun. 30, 2023
Notes Tables |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] |
Offsetting of Financial Assets and Derivative Assets as of June 30, 2023 |
|  | (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 and Cryptocurrency Price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Soybean futures contracts |  | $ | 818,350 |  |  | $ | - |  |  | $ | 818,350 |  |  | $ | 685,954 |  |  | $ | - |  |  | $ | 132,396 |
Sugar futures contracts |  | $ | 921,870 |  |  | $ | - |  |  | $ | 921,870 |  |  | $ | 97,357 |  |  | $ | - |  |  | $ | 824,513 |
Bitcoin futures contracts |  | $ | 126,672 |  |  | $ | - |  |  | $ | 126,672 |  |  | $ | - |  |  | $ | - |  |  | $ | 126,672 |
Offsetting of Financial Liabilities and Derivative Liabilities as of June 30, 2023 |
|  | (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 and Cryptocurrency Price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | 13,427,593 |  |  | $ | - |  |  | $ | 13,427,593 |  |  | $ | - |  |  | $ | 13,427,593 |  |  | $ | - |
Soybean futures contracts |  | $ | 685,954 |  |  | $ | - |  |  | $ | 685,954 |  |  | $ | 685,954 |  |  | $ | - |  |  | $ | - |
Sugar futures contracts |  | $ | 97,357 |  |  | $ | - |  |  | $ | 97,357 |  |  | $ | 97,357 |  |  | $ | - |  |  | $ | - |
Wheat futures contracts |  | $ | 23,351,829 |  |  | $ | - |  |  | $ | 23,351,829 |  |  | $ | - |  |  | $ | 23,351,829 |  |  | $ | - |
Offsetting of Financial Assets and Derivative Assets as of December 31, 2022 |
|  | (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 and Cryptocurrency Price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | 1,585,798 |  |  | $ | - |  |  | $ | 1,585,798 |  |  | $ | 1,585,798 |  |  | $ | - |  |  | $ | - |
Soybean futures contracts |  | $ | 2,520,370 |  |  | $ | - |  |  | $ | 2,520,370 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,520,370 |
Sugar futures contracts |  | $ | 911,329 |  |  | $ | - |  |  | $ | 911,329 |  |  | $ | 85,128 |  |  | $ | - |  |  | $ | 826,201 |
Wheat futures contracts |  | $ | 3,160,732 |  |  | $ | - |  |  | $ | 3,160,732 |  |  | $ | 3,160,732 |  |  | $ | - |  |  | $ | - |
Bitcoin futures contracts |  | $ | 29,152 |  |  | $ | - |  |  | $ | 29,152 |  |  | $ | - |  |  | $ | - |  |  | $ | 29,152 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2022 |
|  | (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 and Cryptocurrency Price |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | 2,967,103 |  |  | $ | - |  |  | $ | 2,967,103 |  |  | $ | 1,585,798 |  |  | $ | 1,381,305 |  |  | $ | - |
Sugar futures contracts |  | $ | 85,128 |  |  | $ | - |  |  | $ | 85,128 |  |  | $ | 85,128 |  |  | $ | - |  |  | $ | - |
Wheat futures contracts |  | $ | 26,380,838 |  |  | $ | - |  |  | $ | 26,380,838 |  |  | $ | 3,160,732 |  |  | $ | 23,220,106 |  |  | $ | - |
Derivative Instruments, Gain (Loss) [Table Text Block] |
|  | Realized (Loss) Gain on Commodity Futures Contracts |  |  | Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts |
Commodity Price |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | (5,192,445 | ) |  | $ | (8,746,928 | )
Soybeans futures contracts |  |  | (1,108,023 | ) |  |  | 1,311,668 |
Sugar futures contracts |  |  | 7,408,174 |  |  |  | (3,141,505 | )
Wheat futures contracts |  |  | (17,129,061 | ) |  |  | 1,960,839 |
Bitcoin futures Contracts |  |  | 71,236 |  |  |  | (30,948 | )
Total commodity and cryptocurrency futures contracts |  | $ | (15,950,119 | ) |  | $ | (8,646,874 | )
|  | Realized Gain on Commodity Futures Contracts |  |  | Net Change in Unrealized Depreciation on Commodity Futures Contracts |
Commodity Price |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | 22,454,084 |  |  | $ | (47,449,038 | )
Soybeans futures contracts |  |  | 2,645,146 |  |  |  | (2,827,976 | )
Sugar futures contracts |  |  | 401,262 |  |  |  | (2,174,684 | )
Wheat futures contracts |  |  | 1,412,938 |  |  |  | (60,209,162 | )
Total commodity futures contracts |  | $ | 26,913,430 |  |  | $ | (112,660,860 | )
|  | Realized (Loss) Gain on Commodity Futures Contracts |  |  | Net Change in Unrealized (Depreciation) Appreciation on Commodity Futures Contracts |
Commodity Price |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | (11,461,380 | ) |  | $ | (12,046,288 | )
Soybeans futures contracts |  |  | (40,479 | ) |  |  | (2,387,974 | )
Sugar futures contracts |  |  | 8,747,622 |  |  |  | (1,688 | )
Wheat futures contracts |  |  | (40,487,794 | ) |  |  | (131,723 | )
Bitcoin futures Contracts |  |  | 700,787 |  |  |  | 97,520 |
Total commodity and cryptocurrency futures contracts |  | $ | (42,541,244 | ) |  | $ | (14,470,153 | )
|  | Realized Gain on Commodity Futures Contracts |  |  | Net Change in Unrealized Depreciation on Commodity Futures Contracts |
Commodity Price |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | 39,023,065 |  |  | $ | (27,554,708 | )
Soybeans futures contracts |  |  | 9,697,847 |  |  |  | (1,913,259 | )
Sugar futures contracts |  |  | 471,423 |  |  |  | (1,266,942 | )
Wheat futures contracts |  |  | 39,419,505 |  |  |  | (97,060,524 | )
Total commodity and cryptocurrency futures contracts |  | $ | 88,611,840 |  |  | $ | (127,795,433 | )
Teucrium Soybean Fund [Member] |
Notes Tables |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] |
|  | (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 |  | $ | 818,350 |  |  | $ | - |  |  | $ | 818,350 |  |  | $ | 685,954 |  |  | $ | - |  |  | $ | 132,396 |
|  | (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 |  | $ | 685,954 |  |  | $ | - |  |  | $ | 685,954 |  |  | $ | 685,954 |  |  | $ | - |  |  | $ | - |
|  | (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 |  | $ | 2,520,370 |  |  | $ | - |  |  | $ | 2,520,370 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,520,370 |
Derivative Instruments, Gain (Loss) [Table Text Block] |
|  | Realized Loss on Commodity Futures Contracts |  |  | Net Change in Unrealized Appreciation on Commodity Futures Contracts |
Commodity Price |  |  |  |  |  |  |  |
Soybean futures contracts |  | $ | (1,108,023 | ) |  | $ | 1,311,668 |
|  | Realized Gain on Commodity Futures Contracts |  |  | Net Change in Unrealized Depreciation on Commodity Futures Contracts |
Commodity Price |  |  |  |  |  |  |  |
Soybean futures contracts |  | $ | 2,645,146 |  |  | $ | (2,827,976 | )
|  | Realized Loss on Commodity Futures Contracts |  |  | Net Change in Unrealized Depreciation on Commodity Futures Contracts |
Commodity Price |  |  |  |  |  |  |  |
Soybean futures contracts |  | $ | (40,479 | ) |  | $ | (2,387,974 | )
|  | Realized Gain on Commodity Futures Contracts |  |  | Net Change in Unrealized Depreciation on Commodity Futures Contracts |
Commodity Price |  |  |  |  |  |  |  |
Soybean futures contracts |  | $ | 9,697,847 |  |  | $ | (1,913,259 | )

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