John Edwards will use a speech in New Orleans today to drop out of the presidential race, MSNBC's Chuck Todd reports today. The last major casualty in the Democratic race before the nomination is decided, Edwards is ending his campaign in the same city he launched his bid in late 2006.

Edwards' exit will likely aid Barack Obama in some northern states, where liberals can't wrap their minds around Hillary Clinton, and will help Clinton in the South, where race now becomes more of a factor in many voters' minds. Clinton, too, will likely benefit from Edwards' labor backing; Obama has shown a marked lack of ability to win union support, while Clinton has backing from as many major national unions as Edwards did.

The real winner: MSNBC, which holds the race's first one-on-one debate tomorrow night in Los Angeles. With Edwards out of the race, there's no one left to play peace-maker between Clinton and Obama.