I have also talked with Lutherans of the LCMS church on this issue of transubstantiation as well in stating the question of consubstantiation vs. transubstantiation. Incidentally, contrary to the statements made by NEO and Jess in regard to this issue, the LCMS holds the eucharist as an unexplainable mystery that terms like transubstantiation and consubstantiation get in the way of. The concepts are not rejected per se but the terms are.
The Orthodox Church does not reject transubstantiation though. The Orthodox Church states in their liturgy in regards to the bread and wine that Jesus is “changing them by your Holy Spirit“. Further, the Anglican Church has never condemned the teaching of transubstantiation and the Council of Trent is seen as perfectly compatible with Anglican theology as well.
What indeed though is the main problem is the want by us humans to try and define and explain the mysteries of God. Do I affirm transubstantiation? I affirm what the liturgy says–the body of Christ broken for you, take eat and be thankful. There are no definitions in regard to Aristotelian philosophy necessary for one to eat and receive the body of Christ. One simply sees they eat the body of Christ. When we explain the mysteries or try to explain the mysteries rather than just accepting them for what they are, we start pulling God down to our level. Similar to objections I hear about whether Mary is the Mother of God or not. I’ve heard objections of the nature that end up falling into Docetism and Partialism much more than Christianity when Mary is objected to as the Mother of God. Many want to be comfortable in trying to explain the mystery but I prefer not to. I’m more influenced by the East in this regard. It seems to me rather than rejecting transubstantiation, the Orthodox Church rather takes a firm stance that they accept the mystery but dare not define it. Or as St Angela of Foligno would say, “My words blaspheme.”
I guess one like Philip Augustine could call this transubstantiation if he wants and I’m not going to argue about it. Rather, when I receive my Lord’s body on my tongue I will rejoice and be grateful that I receive his body on my tongue.
*I do not have a new computer yet but I shall return to this post in the near future and add a blurb from my favourite–St Angela of Foligno–who is saddened when a priest administers the body of Christ too soon. This I think encapsulates the doctrine of the eucharist.