No. The Sacramental Union states the Eucharist is a union of the actual body and blood of Christ with the bread and wine. It's compared to the Hypostatic Union in that in the same way that Christ is God and Man distinct, but not separate; united, but unconfused so is the Eucharist the ordinary bread and wine and truly Christ, body and blood, flesh and all. It is Jesus Christ, in the flesh, crucified and risen from the dead and seated at the right hand of God the Father and who will come again.
-CryptoLutheran
As usual, CL is correct.
Consubstantiation | Define Consubstantiation at Dictionary.com
consubstantiation
- 4 dictionary results
con·sub·stan·ti·a·tion
 
 [kon-suh
b-stan-shee-ey-shuh
n]
noun Theology. the doctrine that
the substance of the body and blood of Christ coexist in and with the substance of the bread and wine of the Eucharist.
Origin:
15901600; < Neo-Latin consubstantiātiōn- (stem of consubstantiātiō

, equivalent to con-
con- + (trans)substantiātiōn-
transubstantiation
Can be confused: consubstantiation,
transubstantiation.
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Based on the Random House Dictionary, © Random House, Inc. 2011.
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consubstantiation
World English Dictionary
consubstantiation (ˌkɒnsəbˌstænʃɪˈeɪʃən)
n 1. the doctrine that after the consecration of the Eucharist the substance of the body and blood of Christ coexists within the substance of the consecrated bread and wine 2. the mystical process by which this is believed to take place during consecration
Collins English Dictionary - Complete & Unabridged 10th Edition
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Word Origin & History
consubstantiation
1590s, from Mod.L. consubstantionem, noun of action from consubstantiare, from con- "with" + substantia (see
substance).
Online Etymology Dictionary, © 2010 Douglas Harper
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Encyclopedia
consubstantiation
doctrine of the Eucharist affirming that Christ's body and blood substantially coexist with the consecrated bread and wine.
The term is unofficially and inaccurately used to describe the Lutheran doctrine of the Real Presence; namely, that the body and blood of Christ are present to the communicant "in, with, and under" the elements of bread and wine. Consubstantiation differs radically from the Roman Catholic doctrine of transubstantiation, which asserts that the total substance of bread and wine are changed into the substance of the body and blood of Christ at the moment of consecration in such a way that only the appearances of the original elements remain.
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