Letter from the General Partner extending Management Agreement with PGR Capital LLP, from June 30, 2017 to June 30, 2018, dated June 1, 2017

Exhibit 10.7(a)

522 Fifth Avenue                

New York, NY 10036        

June 1, 2017

PGR Capital LLP

Liberty House

222 Regent Street

London W1B STR,

UK

Attention: Casey Grylls

Re:   Management Agreement Renewals

Dear Mr. Grylls:

We are writing with respect to your management agreements concerning the commodity pools to which reference is made below (the “Management Agreements”). We are extending the term of the Management Agreements through June 30, 2018 and all other provisions of the Management Agreements will remain unchanged.

Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of Mr. Patrick T. Egan at 522 Fifth Avenue – 7th Floor, New York, NY 10036 or fax to ###-###-####. If you have any questions, I can be reached at ###-###-#### or contact Jack Yuen at ###-###-####.

Very truly yours,

CERES MANAGED FUTURES LLC

PGR CAPITAL LLP