Flower bud seen around middle of July (5)
I believe the answer is:
tulip
'flower' is the definition.
(tulip is a type of flower)
'bud seen around middle of july' is the wordplay.
'bud' becomes 'tip' (I can't justify this - if you can you should believe this answer much more).
'seen around' means one lot of letters goes inside another.
'middle of' means to look at the middle letters.
The middle of 'july' is 'ul'.
'tip' going around 'ul' is 'TULIP'.
Can you help me to learn more?
(Other definitions for tulip that I've seen before include "Popular garden flower from Amsterdam?" , "Flowering bulb (from Amsterdam?)" , ""Dutch" flower" , "It blooms in 11 down" , "Spring-blooming plant" .)