This paper describes the application of a novel Bayesian estimation technique to extract the structural components, i.e., trend and daily patterns, from blood glucose level time series coming from home monitoring of insulin dependent diabetes mellitus patients. The problem is formulated through a set of stochastic equations, and is solved in a Bayesian framework by using a Markov chain Monte Carlo technique. The potential of the method is illustrated by analyzing data coming from the home monitoring of a 14-year old male patient.