Giants beat writer Dan Graziano on Rashad Jennings' rumored demotion: I did not see Rashad Jennings on the field with Eli Manning or the first-team offensive line either of the past two days. He did take a lot of reps with the second team, while Andre Williams and Shane Vereen got a bunch of the first-team work.
Now, I know the coaches really like Williams and the work he's done to improve this offseason. And there's a specific role for Vereen, especially on passing downs. I also know there is concern among the coaches about Jennings' health, as he's 30, missed five games last season and has never played 16 in a season. So it's possible they're just limiting his reps. However, if health were the concern with Jennings, I don't think we'd be seeing him take as many special teams reps as he's taking right now. That as much as anything might indicate a bit of a slide down the depth chart.
Friday Update: Jennings was practicing with the first team on Friday, while Williams was running with the second team.