Technical Abstract: Integrated pest management provides the potential for better insect management in stored wheat, as well as increased worker safety and reduced environmental concerns. Many country elevators, however, continue to use chemical-based approaches. To determine if this choice is economically justified, total costs – including both costs of implementation and costs of failing to control insects – for sampling-based IPM and calendar-based chemical approaches were compared for a typical country elevator under environmental conditions of the Central and Southern Plains. Results suggest that country elevators storing hard red winter wheat under standardized assumptions likely find it more economical to use calendar-based fumigation than to adopt a sampling-based IPM approach when both cost of treatment and cost of failing to control insects are considered. However, if managers can reduce immigration rate of insects into at least some bins and store the grain a shorter amount of time, or if sampling cost can be reduced, sampling-based IPM becomes an economically attractive alternative.