Cotton futures fell, heading for the second straight weekly decline, on signs of increasing global supplies.

The U.S. Department of Agriculture said on April 10 that global stockpiles of cotton will be 82.45 million bales in the year ending July 31, or 0.9 percent bigger than a March estimate and 18 percent more than a year earlier. Traders in a Bloomberg survey projected world inventories of 81.6 million. A bale weighs 480 pounds (218 kilograms).

“WeΆve just got too much supply in the world,” Keith Brown, the president of Keith Brown & Co., a broker in Moultrie, Georgia, said in a telephone interview. “The marketΆs coming to its fundamental senses and saying, ΅Why am I up here?Ά”

Cotton for July delivery fell 0.9 percent to 85.94 cents a pound at 10:31 a.m. on ICE Futures U.S. in New York. A close at that level would leave the most-active futures down 1 percent this week after losing 1.9 percent last week.