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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 EeD6z0+XdB8vDbHsXzsbU7QsxZ5fT2J/xn4HuUmIG+rsf88jZrNyrrK6yt5nTHbV
 RKcVo6hGGpXAbaJ4W2nRjQ==

<SEC-DOCUMENT>0001471995-09-000001.txt : 20090918
<SEC-HEADER>0001471995-09-000001.hdr.sgml : 20090918
<ACCEPTANCE-DATETIME>20090918125033
ACCESSION NUMBER:		0001471995-09-000001
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20090918
DATE AS OF CHANGE:		20090918
EFFECTIVENESS DATE:		20090918

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AgraShares Fund III, LLC
		CENTRAL INDEX KEY:			0001471995
		IRS NUMBER:				264036796
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-134552
		FILM NUMBER:		091076274

	BUSINESS ADDRESS:	
		STREET 1:		10 SOUTH RIVERSIDE PLAZA, SUITE 1800
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		312-471-6023

	MAIL ADDRESS:	
		STREET 1:		10 SOUTH RIVERSIDE PLAZA, SUITE 1800
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0502</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001471995</cik>
        <entityName>AgraShares Fund III, LLC</entityName>
        <issuerAddress>
            <street1>10 SOUTH RIVERSIDE PLAZA, SUITE 1800</street1>
            <street2></street2>
            <city>CHICAGO</city>
            <stateOrCountry>IL</stateOrCountry>
            <zipCode>60606</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>312-471-6023</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>ILLINOIS</jurisdictionOfInc>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2009</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <middleName></middleName>
                <lastName>AgraShares, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>10 South Riverside Plaza, Suite 1800</street1>
                <street2></street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60606</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <middleName></middleName>
                <lastName>BlueStem Holdings, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>10 South Riverside Plaza, Suite 1800</street1>
                <street2></street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60606</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Beneficial Owner</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Commercial</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>No Revenues</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <yetToOccur>true</yetToOccur>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Jeff Simpson</recipientName>
                <recipientCRDNumber>2204191</recipientCRDNumber>
                <associatedBDName>Ausdal Financial Partners, Inc.</associatedBDName>
                <associatedBDCRDNumber>7995</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1811 N. Main Street</street1>
                    <street2></street2>
                    <city>Wheaton</city>
                    <stateOrCountry>IL</stateOrCountry>
                    <zipCode>60187</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>IL</state>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>30000000</totalOfferingAmount>
            <totalAmountSold>0</totalAmountSold>
            <totalRemaining>30000000</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>0</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>2400000</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>Based upon maximum offering amount.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>264500</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>Based upon maximum offering amount and anticipated use of funds. Management is entitled to a fee of 1% annually as to funds used to purchase agricultural real estate.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>AgraShares Fund III, LLC</issuerName>
                <signatureName>/s/ Jon Brorson</signatureName>
                <nameOfSigner>Jon Brorson</nameOfSigner>
                <signatureTitle>Manager</signatureTitle>
                <signatureDate>2009-09-02</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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