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Races have been scrapped for the day at sailing's Finn Gold Cup world championship in Melbourne due to a lack of wind.

A lack of wind means no sailing has been possible on day three of the Finn Gold Cup in Victoria, where an Australian can lock in an Olympic quota spot just by finishing the event.

The world's best Finn sailors were kept off the water on Wednesday due to Port Phillip's still conditions on a torrid 40-plus degree day.

Three races are scheduled for Thursday, when a 10-to-15 knot southerly breeze is expected.

New Zealand's Josh Junior holds a 14-point lead after four races from Croatia's Nenad Bugarin, with Jake Lilley - eighth at the Rio Olympics - the best-placed Australian in 12th.

With the Kiwis already locking in their Tokyo Finn berth, an Australian competitor only has to complete the event on Saturday to earn the remaining Oceania slot for next year's Games.