Wheat (Triticum aestivum L.) is the third‐most cultivated field crop in the United States and a very important source of nutrition globally. The economic value of wheat motivates farmers to optimize yield and grain quality, which can be obtained with additional inputs that are often expensive. This study investigated three management intensity levels on grain yield, straw yield, grain test weight, and disease on winter wheat in Wisconsin across 4 yr and 20 varieties. All management practices included a pre‐emergence herbicide and N application, with a mid‐level management strategy adding another N application and a single fungicide application to the current strategy, and a high‐level management intensity strategy adding a growth regulator, two micronutrient applications, and another fungicide application to the mid‐level strategy. Our study revealed that increasing management intensity from current strategies to mid‐ or high levels significantly increased grain yields by 0.81–1.22 kg ha−1, straw yields by 1.2–1.2 t ha−1, and grain test weights by 2.6–3.2 kg hl−1, respectively (P < .05). In addition, the high‐level management intensity led to significant reductions in stripe rust incidence and severity, whereas both mid‐ and high‐level management intensity reduced Fusarium head blight incidence and severity, and mycotoxin contamination (P < .001). The economic considerations of intensified management were also examined, and the mid‐ and high‐level management practices resulted in US$306 and US$242 ha−1 greater profit than current management, respectively, as a result of the improved disease protection and yields.