Is there one strong enough for an 85 hp tractor?
Well, you can put a too-big hoe on a too-small tractor, but you can't really put a too-small
hoe on a too-big tractor.
A backhoe uses hydraulic power, which is limited by its relief valve. If the flow rate from
your tractor's implement pump is a bit high and makes your hoe move too fast, just lower
the engine speed a bit. The M8540 puts out 11GPM at full speed, so that's not too much.
And despite all my harping about using subframes for backhoes, your tractor has a Category 2
3-point hitch. A Cat 2 is strong enough to support a hoe on the 3-pt. That means that even
if you got a tiny 6.5' hoe, you can lower the hitch enough for the outriggers to properly engage
the ground. I don't know who makes a subframe for the M40s, but they are probably not common.