Albert Barnes on Matthew 26:27

And he took the cup. That is, the cup of wine which they used at the feast of the passover, called the cup of Hallel, or praise, because they commenced then repeating the psalms with which they closed the passover. See Mt 26:30. This cup, Luke says, he took after supper. That is, after they had finished the ordinary celebration of eating the passover. The bread was taken while they were eating, the cup after they had done eating.

And gave thanks. Mt 26:26.

Drink ye all of it. That is, "all of you, disciples, drink of it ;" not, "drink all the wine."