U.S. soybean futures closed at a fresh seven-month high Thursday, boosted by optimism about export demand and favorable outside markets.

Soybeans for May delivery at the Chicago Board of Trade closed up 19 cents, or 1.3%, at $14.41 a bushel, the highest settlement price for the contract since Sept. 9.

May soy meal rose $7.80 to $394.60 a short ton, while May soy oil rose 0.78 cent to 57.23 cents a pound.

Soybeans, along with grains, were boosted by favorable outside markets Thursday, including a weaker dollar and higher equities and crude oil prices.

Soy also benefited from fresh signs of strong export demand from China, despite concerns that high U.S. soybean prices could deter demand. China's Commerce Ministry overnight said the country's soybean imports in April will likely reach 5.6 million metric tons, up 16% on month and 44% on year.

Separately, the U.S. Department of Agriculture on Thursday announced the sale of 115,000 metric tons of soybeans for delivery to China, including 55,000 tons for delivery during the current marketing year. USDA also announced a sale of 189,000 metric tons of soybeans to "unknown destinations," including 79,000 tons for delivery in the current marketing year. Traders say "unknown destinations" may mean China.

Traders and analysts remain concerned that soybeans could be vulnerable to a price drop, amid a large build-up of long positions by investment funds and fears that tighter supplies and increased demand have been factored into prices over the past few months.

"At the end of the day you've got to find buyers to push the market higher. If everyone's already long, who's a buyer?" said Linn Group analyst Jim Riley.

However, soybeans could still rise higher if further signs arise showing strong demand, especially from China, or if concerns grow that the U.S. crop's yield could be poor, Riley said.

For corn, futures eased off of gains made during the day but still closed higher, supported by the rise in soybeans and by strong weekly export-sales data reported in the morning. Concerns about weather risks for the U.S. crop and tight cash markets also supported prices.

CBOT May corn rose 1 1/2 cents to $6.37 1/2.

U.S. wheat futures closed higher, propelled by outside markets and by weather risks for the U.S. winter wheat crop. Expectations for greater wheat demand for use in animal feed also supported futures.

CBOT May wheat rose 11 1/4 cents to $6.39 1/4 a bushel, while Kansas City Board of Trade May wheat gained 9 cents to $6.53 a bushel and MGEX May wheat fell 1 3/4 cents to $8.36 1/2.

-By Owen Fletcher, Dow Jones Newswires; 312-750-4120 begin_of_the_skype_highlighting 312-750-4120 end_of_the_skype_highlighting; owen.fletcher@dowjones.com