CORNNYSECommodity Contracts Brokers & DealersUS GAAP · USD

Teucrium Commodity Trust

Teucrium Commodity Trust is a U.S.-based commodity trust platform that issues exchange-traded funds and commodity pools focused on agricultural and other commodity exposures. Its series are sponsored and administered by Teucrium Trading, LLC, with products designed to give investors access to futures-based and fund-of-funds commodity strategies.

Net income-26.5m USD
+44.6 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

01m USD202020212022202320242025
RevenueOperating profit (EBIT)
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Business

Share of revenue
Agricultural commodity funds70 %

Exchange-traded funds and commodity pools linked to agricultural futures and related exposures.

Commodity allocation fund-of-funds15 %

Products that combine exposure to multiple Teucrium commodity funds in a single vehicle.

Bitcoin futures ETF10 %

A futures-based digital asset fund structure offered within the trust platform.

Advisory and sponsor services5 %

Commodity trading advisory and sponsor functions supporting the trust series.

Customers

The trust’s products are bought by investors seeking listed exposure to commodity prices without holding physical commodities or managing futures accounts directly. Buyers include retail investors, financial advisors, and institutions using exchange-traded vehicles for tactical allocation, inflation hedging, or portfolio diversification. The funds also serve market participants who want targeted exposure to specific agricultural markets such as corn, wheat, soybeans, and sugar.

Retail ETF investors

Buy listed fund shares for simple access to commodity price movements and diversification.

Financial advisors and wealth platforms

Use the funds as portfolio building blocks for tactical or hedging allocations.

Institutional allocators

Use commodity funds for macro, inflation, or risk-management purposes.

Commodity-focused investors

Buy single-commodity funds such as corn, wheat, soybean, or sugar exposure.

Strategy

The trust’s strategy is to expand and maintain a family of listed commodity vehicles that provide targeted exposure to agricultural markets and other commodity themes. It relies on futures-based structures, fund-of-funds design, and sponsor expertise to package exposures that are difficult for many investors to access directly. The platform also broadens through new series and advisory capabilities tied to commodity and ETF markets.

Grow the fund lineupMedium term

A broader product shelf increases assets, distribution reach, and investor choice.

Preserve accurate commodity trackingShort term

Investors use these funds for price exposure, so tracking quality is central to the franchise.

Maintain regulatory and operational complianceShort term

Commodity funds depend on CFTC, NFA, SEC, and futures-market rules to operate.

Geography

Teucrium Commodity Trust is organized and operated in the United States, with the sponsor based in Burlington, Vermont. Its funds are U.S.-listed vehicles and the underlying trading, custody, and brokerage relationships are centered in U.S. markets, although the commodity exposures themselves are global in nature. The trust’s performance is therefore tied to U.S. regulatory, tax, and futures-market infrastructure, while the referenced commodities are influenced by worldwide supply and demand.

Risks

The trust is exposed to commodity price volatility, futures-market basis risk, and tracking error because its products are designed to mirror underlying commodity movements rather than own the physical assets. It also faces regulatory, tax, and operational risks tied to CFTC/SEC oversight, clearing brokers, and the use of derivatives. Cybersecurity and service-provider disruptions can affect NAV calculation, trading, and shareholder transactions.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Commodity price volatility1Tracking error and futures roll risk2Regulatory and tax uncertainty3Service-provider and clearing-broker dependence4Cybersecurity and operational disruption5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Commodity price volatilityImpact: HighLikelihood: Medium

    Fund returns are linked to agricultural and other commodity prices, which can move sharply on supply/demand shocks.

    ExposureCornWheatSoybeansSugarBitcoin futures
  2. Tracking error and futures roll riskImpact: HighLikelihood: Medium

    Futures-based structures may not perfectly replicate spot commodity performance over time.

    Exposure: Commodity ETF and pool series

  3. Regulatory and tax uncertaintyImpact: HighLikelihood: Medium

    Commodity funds depend on CFTC, SEC, and tax rules that can affect eligibility and operations.

    Exposure: Trust series and sponsor activities

  4. Service-provider and clearing-broker dependenceImpact: MediumLikelihood: Low

    Trading, custody, and execution rely on third parties such as clearing brokers and administrators.

    ExposureMarexStoneXU.S. BankSponsor entities
  5. Cybersecurity and operational disruptionImpact: MediumLikelihood: Low

    A breach or outage could interrupt transactions, NAV calculation, or recordkeeping.

    Exposure: Funds and service providers

Accounting

Judgemental items
Fair value measurement of futures and OTC contracts

Valuation inputs directly affect NAV and reported unrealized gains or losses.

Impact: Daily pricing and broker-provided marks can move reported results materially.

Mark-to-market accounting

Derivative positions are remeasured each day, creating volatility in earnings and NAV.

Impact: Reported performance can change significantly from period to period.

Expense accruals and sponsor fees

Management and distribution-related fees are recurring and reduce fund returns.

Impact: Fee accrual timing affects net expense presentation.

Estimates and judgments in GAAP reporting

The trust relies on assumptions for valuation, disclosures, and contingent matters.

Impact: Small changes in assumptions can affect reported assets, liabilities, and results.

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Last updated: 24/09/2026