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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

☒	Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
	for the quarterly period ended March 31, 2023.

 

OR

 

☐	Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
	for the transition period from _________ to _________ .

 

Commission File Number: 001-34765

 

Teucrium Commodity Trust

(Exact name of registrant as specified in its charter)

 

Delaware		27-0724963
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification No.)

 

Three Main Street, Suite 215 Burlington, VT 05401

(Address of principal executive offices) (Zip code)

 

(802) 540-0019

(Registrant’s telephone number, including area code)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ Yes ☐ No

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated Filer	☐	Smaller reporting company	☐
		Emerging growth company	☐

 

If an emerging growth company, indicate by a check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☒ No

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the last practicable date.

 

		Total Number of Outstanding Shares as of May 9, 2023
Teucrium Corn Fund		4,200,004
Teucrium Sugar Fund		2,925,004
Teucrium Soybean Fund		1,300,004
Teucrium Wheat Fund		25,650,004
Teucrium Agricultural Fund		1,050,002
Hashdex Bitcoin Futures ETF		60,004

 

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TEUCRIUM COMMODITY TRUST

Table of Contents

 

			Page
Part I. FINANCIAL INFORMATION
Item 1.	Financial Statements		3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		4
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		50
Item 4.	Controls and Procedures		54
Part II. OTHER INFORMATION
Item 1.	Legal Proceedings		55
Item 1A.	Risk Factors		55
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		92
Item 3.	Defaults Upon Senior Securities		94
Item 4.	Mine Safety Disclosures		94
Item 5.	Other Information		94
Item 6.	Exhibits		95

 

 

 

 

		March 31, 2023				December 31, 2022
		(Unaudited)
Assets
Cash and cash equivalents		$	330,148,893			$	434,062,296
Interest receivable			305,648				317,351
Other assets			59,531				9,069
Capital shares receivable			367,689				1,344,830
Equity in trading accounts:
Commodity futures contracts			5,651,564				8,207,381
Due from broker			55,895,010				61,563,417
Total equity in trading accounts			61,546,574				69,770,798
Total assets		$	392,428,335			$	505,504,344
Liabilities
Management fee payable to Sponsor		$	310,640				432,882
Other liabilities			140,742				78,880
Payable for shares redeemed			-				10,183,915
Equity in trading accounts:
Commodity and cryptocurrency futures contracts			32,700,531				29,433,069
Due to broker			2,101,900				-
Total equity in trading accounts			34,802,431				29,433,069
Total liabilities			35,253,813				40,128,746
Net Assets		$	357,174,522			$	465,375,598