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Cristobal becomes the earliest third Atlantic named storm on record

(CNN) The 2020 hurricane season is only two days old and is already an active one. Cristobal is now the third named storm of the season. It's the earliest a third named storm has ever formed.

2020 Atlantic Hurricane Season Facts >>>

Right now Cristobal is a tropical storm with sustained winds of 40 mph with higher gusts. It is moving to the southwest at 3 mph. On its current track, it is expected to continue to interact with southern Mexico over the next several days.

The main risk for this storm will continue to be rain. Ten to 20 inches of rain is possible across the Mexican states of Tabasco, Veracrus and Campeche. There could be isolated amounts of more than 2 feet of rain.

Some of the Pacific locations in southern Mexico received 20 inches of rain over the weekend, and could get an additional foot of rain. According to the National Hurricane Center, "Rainfall in all of these areas may produce life-threatening flash floods and mudslides."

"The Bay of Campeche is notoriously the warmest part of the Gulf region this time of year," said CNN Meteorologist Chad Myers.

In fact, sea surface temperatures for this area are running 3-4 degrees Fahrenheit above normal right now, providing a lot of fuel for the storm.

Check the forecast from CNN's team of meteorologists >>>

In the long term, the storm's forecast gets a little tricky. CNN Meteorologist Brandon Miller says, "The long-term forecast is very complex due to potential interactions with land and strong winds that are expected to influence the vortex.

"Model forecasts display a myriad of possibilities ranging from the storm dying over the rough terrain of southern Mexico, to a second circulation forming in the southern Gulf of Mexico that could become Tropical Storm Dolly."

States along the Gulf Coast should closely monitor the situation during the next several days and have a plan in place, should a storm threaten the coast.

CNN Meteorologist Haley Brink contributed to this story.