FPUS42 KTAE 200109 City Forecast for Panama City, FL Issued Monday morning - May 20, 2013 .Monday... Partly cloudy, high 70, 5% chance of precipitation. .Monday night... Low 85, 10% chance of precipitation. .Tuesday... Partly cloudy, high 69, 5% chance of precipitation. .Tuesday night... Low 85. .Wednesday... High 71.