Soybeans and soybean oil declined on Monday after investors sold some commodities to raise cash following a demand from banks for more money to back the available money positions in stocks and bonds.

Soybean futures for May delivery decreased by 0.2 percent, or 2.25 cents, to $14.065 a bushel on the Chicago Board of Trade.

Soybean prices increased to $15.8625 on March 3, and surged 880 percent last after U.S. farmers planted few acres of the bean.

Soybean oil futures for May delivery fell by 1.9 percent, or 1.19 cents, to 62.14 cents a pound.

Soybean increased by 8 percent last week, after China, the world's biggest importer of the vegetable oil revealed its intentions to sell cooking oil reserves to tame inflation.

Soybean oil futures more than doubled last year following an increase in demand for alternative fuels and cooking oil use.

Soybeans are the second largest U.S. crop valued at $26.8 billion last year, after corn which was valued at $52.1 billion.