The Sydney Cup may be re-run on a soft track if Randwick is spared possible showers.
The track was rated a heavy 8 on race eve but racecourse manager Nevesh Ramdhani said conditions could improve by Saturday morning assuming Randwick is spared possible overnight showers.
"We've had a heavy shower on Wednesday afternoon, 4.4mm fell in a half-hour period. It didn't help with the drying," Ramdhani said.
"We've also had a lot of dew over the past couple of mornings.
"Hopefully those showers forecast for later tonight miss us and there's a good chance we'll get to an upgrade of hopefully a (soft) seven by tomorrow morning."
The Sydney Cup on April 8 was declared a no-race after Almoonqith fatally broke down and Who Shot Thebarman lost his rider.
Ramdhani earlier said the rail would go out to 10m for Tuesday's Anzac Day meeting.
"There's a couple of millimetres of rain every day through the weekend and into next week, so we'll have to watch that as well," he said.