Caballero surpassed previous world leading mark of 70.08m set by world and Olympic champion of Sandra Perkovich of Croatia. Second place in the event took compatriot Yaime Perez who managed to throw 65.11m.
Jorge Fernandez won the men's discus with a throw of 60.55m.
Current world triple jump leader Pedro Pablo Pichardo of Cuba made an official long jump debut by wonning the event with a leap of 7.81m.
There was another win in Bilbao by Cuban athlete in the women's 800m race. Rose Mary Almzanza crossed the line after 2:00.49 ahead of Sahily Diago, who posted a time of 2:01.26.
The men's 800m race was won by Moroccan Benhanbel Nader in 1:45.82 ahead of South Africa's Rynhardt Van Rensburg 1:46.78.
Double sprint victory took Nigeria's Obinna Metu. He first won 100m in a new meeting record of 10.28 and later in the day he came back to claim victory in 200m in a time of 20.98 seconds.