Canada's soybean industry is benefiting from an investment of $358,175 from the federal government.

The money will go to Soy Canada to help identify new and emerging international markets and demand for Canadian soybean products.

With the funding Soy Canada will be able to implement a market development strategy, attend international trade shows and lead missions to raise awareness of Canadian soybeans.

"As acreage and production of soybeans increases quickly in Canada, our industry is seeking to develop new markets and expand existing ones," said Jim Everson, Executive Director of Soy Canada. "This strong support from the Government of Canada will be invaluable in helping our industry expand exports"

The organization will be concentrating its efforts on expanding key markets in China, the United States, Korea, Japan and Europe.

Soybeans are now the 4th largest crop by acreage in Canada with a production of 6.04 million metric tonnes in 2014.