… The Passover meal, which the Jews celebrated in commemoration of the deliverance from the bondage of Egypt, incidentally was a type of the eternal meal of joy and bliss in heaven, where the Lord will feed them that are His with heavenly manna and have them drink of the river of His pleasures. Christ, as the true Passover Lamb, was now about to be brought to the slaughter and thereby gain for all sinners the joys of eternal life. For that reason He had the great longing to eat this Passover meal with His disciples, because it introduces His suffering and death. As the Savior of sinners He was consumed with eagerness to earn salvation for all sinners.
… His very first words showed that He was deeply moved. He had desired most earnestly, He had longed with a great longing, to eat this Passover meal with them before His great Passion. For He would celebrate no more festival meals with them until the perfection of the kingdom of God would be attained.. He then spoke the customary blessing upon the cup of wine, which was drunk by all the partakers of the meal, and gave it to them with the instruction that they should pass it along and all partake of it, that they should divide it among themselves. And here He declared just as solemnly that He would not drink with them of the fruit of the vine, as the Passover wine was called, until the kingdom of God would come, until the revelation of the Kingdom of Glory, when the Church Triumphant will enter upon its eternal feast.
… While they were still at the table, the Lord took some of the bread which had remained, consecrated it with a prayer of thanksgiving, broke it, and gave it to them with the words: This is My body, which is given for you; this do for My remembrance. In going from one to the other, He varied the formula, but the content, the substance of His words, remained the same. Then He took the cup, very likely the third cup of the Passover meal, the cup of thanksgiving, saying: This cup is the new covenant, or testament, in My blood, which is shed for you. In and through the blood of the Savior the New Testament is established. He has removed the wall of separation between the holy, righteous God and the sinful world by the shedding of His blood, and wants to give the glorious benefits of His atonement to all that believe on Him, in the Sacrament. Through the eating and drinking of His body and blood the forgiveness of sins is assured, sealed to the believers. – Kretzmann Commentary