Obama projected to win Iowa

NBC News and CNN are projecting that Barack Obama will capture Iowa. The New York Times reports he's benefiting from some of the more conservative precincts:

8:23 p.m. | More on the Numbers More evidence of Mr. Obama pulling away: he’s ahead in conservative areas that might have been Edwards territory. The Democratic side is starting to look like a photo finish for second place between Mr. Edwards and Mrs. Clinton.

Markos adds:

The youth turnout numbers are stellar, and it looks like the Democratic caucuses got double the turnout that Republican ones did.

The latest count, as of 6:31 PM Pacific Time, is:

Obama: 35.96%
Edwards: 30.60%
Clinton: 30.41%
Richardson: 1.92%
Biden: 0.98%
Uncommitted: 0.10%
Dodd: 0.03%
Precincts Reporting: 1382/1781

UPDATE, 6:54 PM: Obama continues to increase his lead, while Edwards has pulled away from Clinton, just a little bit:

Obama : 37.03%
Edwards : 30.08%
Clinton : 29.70%
Richardson : 2.15%
Biden : 0.91%
Uncommitted : 0.11%
Dodd : 0.03%
Precincts Reporting: 1611/1781
SDEs Reporting: 2216.15/2500