Forecasters said satellite images and surface observations from Mexico indicate the broad area of low pressure is centered near the west coast of the Yucatan Peninsula.
The system is expected to move over the Bay of Campeche and the southwestern Gulf of Mexico during the next couple of days, where environmental conditions are expected to be conducive for the formation of a tropical depression.
According to the National Hurricane Center, this system has a 70 percent chance of becoming a tropical cyclone during the next 48 hours and an 80 percent chance of becoming a tropical cyclone during the next five days.
An Air Force Reserve Hurricane Hunter aircraft is scheduled to investigate the system later Wednesday, if necessary.
The disturbance will likely spread heavy rains over portions of eastern Mexico and could cause life-threatening floods and mudslides over areas already impacted by torrential rains during the past several days.
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