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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 September 30, 2024.

 

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 November 11, 2024
Teucrium Corn Fund		3,425,004
Teucrium Sugar Fund		1,525,004
Teucrium Soybean Fund		1,275,004
Teucrium Wheat Fund		24,900,004
Teucrium Agricultural Fund		412,502

 

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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		49
Item 4.	Controls and Procedures		53
Part II. OTHER INFORMATION
Item 1.	Legal Proceedings		54
Item 1A.	Risk Factors		54
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		55
Item 3.	Defaults Upon Senior Securities		57
Item 4.	Mine Safety Disclosures		57
Item 5.	Other Information		57
Item 6.	Exhibits		58

 

 

 

 

		September 30, 2024				December 31, 2023
		(Unaudited)
Assets
Cash and cash equivalents		$	233,333,719			$	292,237,362
Interest receivable			256,632				410,596
Other assets			50,691				5,362
Equity in trading accounts:
Commodity and cryptocurrency futures contracts			2,854,932				2,367,012
Due from broker			20,905,606				30,935,806
Total equity in trading accounts			23,760,538				33,302,818
Total assets		$	257,401,580			$	325,956,138
Liabilities
Management fee payable to Sponsor		$	194,225			$	276,900
Other liabilities			126,719				242,982
Payable for shares redeemed			657,430				-
Equity in trading accounts:
Commodity and cryptocurrency futures contracts			9,228,773				10,888,842
Total liabilities		$	10,207,147			$	11,408,724
Net Assets		$	247,194,433			$	314,547,414