From our Spaceflight Meteorology Group:
At 4:00 PM CDT, Monday, June 1, Tropical Depression Three had formed at 19.6 N 91.2 W or 50 miles WSW of Campeche, Mexico in the far southern Bay of Campeche moving WNW at 7 MPH. Maximum sustained winds were 30 MPH.
TD 3 is forecast to slow down tonight and meander over the southern Bay of Campeche through late Wednesday. Motion and intensity beyond Wednesday has great deal of uncertainty with it. TD 3 may not survive beyond 2 or 3 days. As of now the NHC keeps the forecast track just barely offshore of the Mexican coast before turning north late in the week. The larger scale weather patterns across much of central America are conducive to tropical depression or storm formation for the next several days.
Tropical Weather Info from National Hurricane Center: