Winner on the day was Andrew CAMPBELL (USA), who climbed from 13th to eighth.
"I know I can win races here. I went through a lot of streaky currents today and had a nice couple of puffs," CAMPBELL said.
Shifty conditions and currents frustrated the fleet and race officials were kept busy with mark changes to keep pace.
After two days and three races, the only one of the pre-Games favourites still in a top five spot is Julio ALSOGARAY (ARG), whose 10th place finish added to his first and 12th on day one, left him third.
"I had a good time - but the course was not my favourite. The wind changed a lot and shifted me 10 degrees. I was in fifth place at the beginning, but the wind just pushed me back a lot so I had a lot of catching up to do," said ALSOGARAY.
Paul GOODISON (GBR), the world # 3 and Tom SLINGSBY (AUS), world #1 and World Champion, had mediocre days, finishing 15th and 21st respectively. The Briton is in seventh place while the Australian is way back in 21st.
The 43-boat fleet resumes competition on Thursday when officials hope to stage two races.
Overall Results - click here