No elm can yield fruit! (5)
I believe the answer is:
lemon
'fruit' is the definition.
(lemon is a kind of fruit)
'no elm can' is the wordplay.
'can' is an anagram indicator (I've seen 'canned' mean this (canned can mean drunk)).
'no'+'elm'='noelm'
'noelm' with letters rearranged gives 'LEMON'.
'yield' acts as a link.
(Other definitions for lemon that I've seen before include "Yellow fruit (it's also the answer!)" , "Useless object" , "Dab" , "A fruit; a worthless item" , "definitely not a peach" .)