Fresh bread may be exposed (5)
I believe the answer is:
bared
'be exposed' is the definition.
(I've seen this in another clue)
'fresh bread' is the wordplay.
'fresh' indicates an anagram (a fresh re-ordering of the letters).
'bread' anagrammed gives 'BARED'.
'may' acts as a link.
(Other definitions for bared that I've seen before include "Uncovered" , "Stripped" .)
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