The Cubs reinstated Palencia (shoulder) from the 15-day injured list and optioned him to Triple-A Iowa on Monday, Maddie Lee of the Chicago Sun-Times reports.
Palencia will stick around with Iowa after he made six rehab appearances with the affiliate while he was on the shelf with a right shoulder strain. Though Palencia struck out eight over 4.2 scoreless innings across the last four appearances, the Cubs didn't have room for the right-hander in the bullpen. Palencia should rank high on the list for a call-up the next time the Cubs require an extra relief arm.