Cryptic crossword clue
Grandees, lionised, holding back something for the press? 7

The most common and most likely answer to this crossword clue is the 7 letter word OILSEED

I've seen this crossword clue in The Times
O
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Buddy explains!

The straight part
We know that "something for the press?" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case something for the press? = oilseed.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does OILSEED mean?

OILSEED noun
  1. The seed of any of several plants which are used commercially as a source of vegetable oil
  2. The plant that yields such seed

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