A seed planting unit of an agricultural implement may include a depth adjustment assembly having a cam member and a depth adjustment gear rotatably coupled to the cam member. The cam member may be configured to be rotated to adjust a vertical position of a wheel of the unit relative to a ground engaging tool of the unit. The seed planting unit may also include an actuating member configured to rotationally drive the depth adjustment gear. The depth adjustment gear and the actuating member include interlocking engagement elements, such that when the actuating member is rotated, the cam member is rotated relative to the support structure to vary the penetration depth setting for the ground engaging tool.