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Note 4 - Fair Value Measurements - Teucrium Soybean Fund
 12 Months Ended
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 Soybean 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

 $18,119,681  $-  $-  $18,119,681 

 

 

Liabilities:

 

Level 1

  

Level 2

  

Level 3

  

Balance as of December 31, 2024

 

Soybean futures contracts

 $1,321,026  $-  $-  $1,321,026 

 

December 31, 2023

 

Assets:

 

Level 1

  

Level 2

  

Level 3

  

Balance as of December 31, 2023

 

Cash Equivalents

 $22,707,941  $-  $-  $22,707,941 

 

Liabilities:

 

Level 1

  

Level 2

  

Level 3

  

Balance as of December 31, 2023

 

Soybean futures contracts

 $1,391,661  $-  $-  $1,391,661 

 

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.