With 25% of precincts in as of 9:05 EST

UPDATE: ABCNews as well.

UPDATE: (Politico)

Just under an hour after the caucuses began, Mitt Romney conceded Iowa to Mike Huckabee on Fox News.

“Congratulations for the first round to Mike,” the former Massachusetts governor said.

He downplayed the significance of his defeat — despite having spent far more than his wise-cracking, bass-playing Baptist preacher opponent.

“Mike has a natural base here, and he was able to call on that base.”

His predicted second-place finish was “a lot better than where I started,” he said, adding: “I expect that by the time this is finished, I’ll be the one with the nomination. See you in New Hampshire.”

UPDATE: Ron Paul is currently running 5th, behind McCain, a guy who hasn’t really campaigned in Iowa. Only 10% thus far. Where was this angry army of Ron Paul support? Didn’t he win all those straw polls?