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Note 4 - Fair Value Measurements - Teucrium Sugar Fund | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Fair Value Disclosures [Text Block] | Note 4 - Fair Value Measurements The Trust’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy as described in the Trust’s significant accounting policies in Note 3. The following table presents information about the Trust’s assets and liabilities measured at fair value as of December 31, 2024 and December 31, 2023: December 31, 2024
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Balance as of December 31, 2024 |
Cash Equivalents |  | $ | 181,255,945 |  |  | $ | - |  |  | $ | - |  |  | $ | 181,255,945 |
Commodity Futures Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corn futures contracts |  |  | 1,936,572 |  |  |  | - |  |  |  | - |  |  |  | 1,936,572 |
Total |  | $ | 183,192,517 |  |  | $ | - |  |  | $ | - |  |  | $ | 183,192,517 |
Liabilities: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Balance as of December 31, 2024 |
Commodity Futures Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | 1,955,417 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,955,417 |
Soybean futures contracts |  |  | 1,321,026 |  |  |  | - |  |  |  | - |  |  |  | 1,321,026 |
Sugar futures contracts |  |  | 1,560,295 |  |  |  | - |  |  |  | - |  |  |  | 1,560,295 |
Wheat futures contracts |  |  | 11,974,384 |  |  |  | - |  |  |  | - |  |  |  | 11,974,384 |
Total |  | $ | 16,811,122 |  |  | $ | - |  |  | $ | - |  |  | $ | 16,811,122 |
December 31, 2023
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Balance as of December 31, 2023 |
Cash Equivalents |  | $ | 263,089,306 |  |  | $ | - |  |  | $ | - |  |  | $ | 263,089,306 |
Commodity and Cryptocurrency Futures Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Wheat futures contracts |  |  | 2,237,493 |  |  |  | - |  |  |  | - |  |  |  | 2,237,493 |
Bitcoin futures contracts |  |  | 129,519 |  |  |  | - |  |  |  | - |  |  |  | 129,519 |
Total |  | $ | 265,456,318 |  |  | $ | - |  |  | $ | - |  |  | $ | 265,456,318 |
Liabilities: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Balance as of December 31, 2023 |
Commodity and Cryptocurrency Futures Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corn futures contracts |  | $ | 2,182,141 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,182,141 |
Soybeans futures contracts |  |  | 1,391,661 |  |  |  | - |  |  |  | - |  |  |  | 1,391,661 |
Sugar futures contracts |  |  | 2,687,998 |  |  |  | - |  |  |  | - |  |  |  | 2,687,998 |
Wheat futures contracts |  |  | 4,575,666 |  |  |  | - |  |  |  | - |  |  |  | 4,575,666 |
Bitcoin futures contracts |  |  | 51,376 |  |  |  | - |  |  |  | - |  |  |  | 51,376 |
Total |  | $ | 10,888,842 |  |  | $ | - |  |  | $ | - |  |  | $ | 10,888,842 |
For the years ended December 31, 2024 and 2023, the Funds did not have any significant transfers between any of the levels of the fair value hierarchy. The determination is made as of the settlement of the futures contracts on the last day of trading for the reporting period. In making the determination of a Level 1 or Level 2 transfer, the Fund considers the average volume of the specific underlying futures contracts traded on the relevant exchange for the periods being reported. See the Fair Value - Definition and Hierarchy section in Note 4 above for an explanation of the transfers into and out of each level of the fair value hierarchy.
Teucrium Sugar Fund [Member] |
Notes to Financial Statements |
Fair Value Disclosures [Text Block] | Note 4 - Fair Value Measurements 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 December 31, 2024 and December 31, 2023. December 31, 2024
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Balance as of December 31, 2024 |
Cash Equivalents |  | $ | 9,452,784 |  |  | $ | - |  |  | $ | - |  |  | $ | 9,452,784 |
Liabilities: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Balance as of December 31, 2024 |
Sugar futures contracts |  | $ | 1,560,295 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,560,295 |
December 31, 2023
Assets: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Balance as of December 31, 2023 |
Cash Equivalents |  | $ | 13,551,433 |  |  | $ | - |  |  | $ | - |  |  | $ | 13,551,433 |
Liabilities: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Balance as of December 31, 2023 |
Sugar futures contracts |  | $ | 2,687,998 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,687,998 |
For the years ended December 31, 2024 and 2023, the Fund did not have any significant transfers between any of the levels of the fair value hierarchy. See the Fair Value - Definition and Hierarchy section in Note 3 above for an explanation of the transfers into and out of each level of the fair value hierarchy.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 107 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-107 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 940 -SubTopic 820 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478119/940-820-50-1 + Details
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