Dr Warren Wiersbe notes that when Jesus said, “This is my body,” and, “This is my blood,” he did not transform either the bread or the wine into anything different. When the disciples ate the bread, it was still bread; when they drank the wine, it was still wine. However, the Lord gave a new meaning to the bread and the wine, so that, from that hour, they would serve as memorials of his death. In 1 Corinthians 11v24-25, Paul uses the phrase, “Do this to remember me.” The word “remember” carries the idea of a present participation in a past event. Because Jesus is alive, as we celebrate the Lord’s Supper, by faith we have communion with him (1 Corinthians 10v16-17). This is not some “magical” experience produced by the bread and cup, it is a spiritual experience that comes through our discerning of Christ and the meaning of the Supper (1 Corinthians 11v27-34).

Source: The Transformation Study Bible (NLT), Colorado USA: David C. Cook Publishers (2009), supplementary commentary on Mark 14:22-24, p.1704 by Dr Warren W. Wiersbe