Abstract More information about current soil water level and future evapotranspiration and rainfall can allow irrigators to improve irrigation scheduling decisions, make better use of limited water and increase net returns. A simulation and optimization model was constructed to optimize irrigation scheduling decisions and estimate the value of better information under uncertain weather conditions. More information allowed high yields to be obtained with less irrigation water resulting in higher net returns. Soil water information accounted for most of the increase in net returns. Future evapotranspiration and rainfall information accounted for a small portion of the total returns of information. Information had a higher value when water was in limited supply and also had a higher value on lower water holding capacity soils.