A method for producing a stable dry composition of flax seed comprising grinding the flax seed in the presence of vitamin B-6 and zinc ion at a temperature of about 160.degree. F. to just above freezing. A stable dry composition of flax seed producted by the aforementioned method. A method for producing a stable emulsion or suspension of flax seed comprising: (1) grinding the flax seed in the presence of vitamin B-6 and zinc ion at a temperature of about 160.degree. F. to just above freezing; (2) soaking the flax seed in an aqueous solution for about 10 minutes to overnight at a temperature of about 160.degree. F. to just above freezing; and (3) blending or homogenizing said soaked, ground flax seed, with or without further additives, to form a stable emulsion or suspension; provided that the steps (1) and (2) can be conducted in any order. A stable emulsion or suspension of flax seed. A method of lowering serum triglycerides and/or cholesterol comprising administering a therapeutically effective amount of the stable emulsion or suspension of flax seed. A method of treating the symptoms of psoriasis comprising administering topically to an affected area the stable emulsion or suspension of flax seed.