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This research project estimated economic costs and benefits of winter wheat production in the Canadian Prairies at a farm level. A combination of Net Present Value analysis and Monte Carlo simulation was used to build cash flow farm models by province and soil zone. The objective of this study was to examine the economic feasibility of winter wheat production on the Prairies. Results show that Prairie farmers will benefit from growing winter wheat if crop research further improves cold tolerance, yield, or quality of winter wheat. Incorporating winter wheat into crop rotations has potential to increase farmers’ wealth in the Canadian Prairies. / Agricultural and Resource Economics