Flaxseed is a delicious agricultural plant obtained from the fruits of the flax plant. Flaxseed, an odorless spice, is available in different forms today as oil, grain, powder and flour. The spice, which adds flavor to both sweet and salty recipes, has become a popular spice in recent years. Flaxseed contains healthy fats, antioxidants, fiber and proteins, Omega-3. If you are wondering what flaxseed is good for; it can help lose weight and balance blood sugar.