Early results point to a close fight in Iowa caucuses

The Iowa caucuses appear to be a three-man race, with entrance polls indicating that either Ron Paul, Mitt Romney or Rick Santorum is likeliest to win the first contest of the 2012 presidential race.

Such a result would be in line with expectations before the gatherings of party activists Tuesday night around the Hawkeye State.

As of 8:06 pm Central Time, Paul led with 24% of the vote, followed by Romney at 23.2% and Santorum at 23.0%. Just over 15% of the 1,774 precincts have reported results so far.

LIVE COVERAGE: Iowa GOP caucuses

Fox News, based on its entrance polling, projected that Minnesota Rep. Michele Bachmann would finish last of the six candidates most fiercely contesting the state.

The presidential vote is just part of the business conducted at precinct caucuses throughout Iowa on Tuesday. Attendees were also to choose delegates to represent their precincts at the GOP’s county conventions, which will be held in March.

It is at those conventions that delegates will be chosen for the state convention, where, in June, the party will decide how to apportion its 28 delegates for the national party’s nominating convention.

That means that while much will be made of the presidential balloting tonight, the results won’t technically produce guaranteed delegates for any of the candidates. Still, the results are likely to narrow the field.