Indiana Grain Company, LLC

Posted: 01/04/12

By: tomgrisafi

Traders are closely watching the returns in Iowa tonight.

With so many economic and market related matters hinging on the 2012 presidential election, investors want to know who the GOP candidate will be.

On Tuesday, however, Iowa pointed to further confusion in the top ranks of the Republican party.

Rick Santorum, running in single digits in polls a month ago, was neck-and-neck with Mitt Romney for first place in Tuesday night's Iowa caucuses, CNN reports.

CNN has projected Ron Paul will finish third in Iowa, but the race for first was still too close to call late Tuesday.

And Texas Gov. Rick Perry, running in fifth, said late Tuesday that he would return to Texas to consider whether his campaign would continue.

With 97% of precincts reporting, Santorum, a former U.S. senator from Pennsylvania, had 25% of the vote. Romney, a former Massachusetts governor, also had 25% of the vote, and Paul, a U.S. representative from Texas, had 21%.

Former House Speaker Newt Gingrich was at 13%. Texas Gov. Rick Perry was at 10%, Rep. Michele Bachmann of Minnesota had 5%, and former Utah Gov. Jon Huntsman had 1%.

Source: CNN

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