Lunar Flare has failed a Melbourne Cup morning veterinary inspection and has been scratched from the $8 million race at Flemington.

Lunar Flare has been withdrawn from the Melbourne Cup after failing a veterinary examination.

In doubt for the $8 million race because of a bruised heel, Lunar Flare was ruled out close to Tuesday's scratching deadline.

Racing Victoria veterinarians re-examined Lunar Flare on Tuesday morning and found she was not fit to contest Australia's greatest race at Flemington.

Interpretation, also under an injury cloud for the past 24 hours, has been passed fit to run.

The import will be one of five runners for co-trainers Ciaron Maher and David Eustace.

Lunar Flare's withdrawal leaves 22 runners to face the starter in the Melbourne Cup.

"We are trying to get the soreness out of the heel but rest assured if she doesn't come up, she doesn't come up and her welfare will be paramount," trainer Grahame Begg said on Monday.

Officials have posted a better-than-expected track rating.

The Flemington track was rated just into the slow range on Tuesday morning but rain and hail is forecast to hit Melbourne during the meeting.

UK stayer Deauville Legend remains a clear-cut Melbourne Cup favourite with Australian jockey Kerrin Mcevoy chasing his fourth win in the race.