Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Instruments and Effect of Derivative Instruments on Statements of Income and Expenses

The Fair Value of Derivative Instruments is as follows:

	June 30, 2022					December 31, 2021
Risk Exposure/Derivative Type (a)	Assets		Liabilities			Assets		Liabilities
Commodity risk
Commodity Futures Contracts	$	240,449,567	$	(230,351,719	)	$	166,506,279	$	(3,137,505	)

^(a) Includes cumulative appreciation (depreciation) of commodity futures contracts. Only the current day’s variation margin receivable (payable) is reported in the June 30, 2022 and December 31, 2021 Statements of Financial Condition for non-LME Commodity Futures Contracts.

The Effect of Derivative Instruments on the Statements of Income and Expenses is as follows:

		For the Three Months Ended
	Location of Gain (Loss) on Derivatives	June 30,
Risk Exposure/Derivative Type	Recognized in Income	2022			2021
Commodity risk
Commodity Futures Contracts	Net Realized Gain (Loss)	$	880,614,273		$	209,625,055
	Net Change in Unrealized Gain (Loss)		(802,970,450	)		120,921,792
Total		$	77,643,823		$	330,546,847

		For the Six Months Ended
	Location of Gain (Loss) on Derivatives	June 30,
Risk Exposure/Derivative Type	Recognized in Income	2022			2021
Commodity risk
Commodity Futures Contracts	Net Realized Gain (Loss)	$	1,001,799,752		$	277,831,954
	Net Change in Unrealized Gain (Loss)		(153,270,926	)		230,890,131
Total		$	848,528,826		$	508,722,085

Summary of Average Monthly Notional Value of Future Contracts Outstanding

The table below summarizes the average monthly notional value of futures contracts outstanding during the period:

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Average Notional Value	$	4,357,986,072	$	2,280,885,907	$	3,807,170,505	$	1,963,291,303