Go to this link below:
http://www.sacrednamebible.com/kjvstrongs/B46C010.htm
Scroll down to the Greek words in the Greek texts mirroring verse 16 in English.
Then click on the second line of the first Greek text for "blood" of that verse, and you should find this definition for haima.
"of uncertain derivation; blood, literally (of men or animals), figuratively (the juice of grapes) or specially (the atoning blood of Christ); by implication, bloodshed, also kindred:--blood."
Then clicking on the back arrow in the upper left hand corner of that web page, look at verse 16 again and then click on the third line on the third Greek text and you should find the definition for soma.
"from swzw - sozo
4982; the body (as a sound whole), used in a very wide application, literally or figuratively:--bodily, body, slave."
As for deciding how to read that figuratively rather than literally, Paul started off this topic telling readers to flee idolatry in verse 14, and it has everything to do with what he was talking about in regards to communion in verse 21 because the idol is mentioned again there in verse 19.
1 Corinthians 10:14 Wherefore, my dearly beloved, flee from idolatry. 15 I speak as to wise men; judge ye what I say. 16 The cup of blessing which we bless, is it not the communion of the blood of Christ? The bread which we break, is it not the communion of the body of Christ? 17 For we being many are one bread, and one body: for we are all partakers of that one bread. 18 Behold Israel after the flesh: are not they which eat of the sacrifices partakers of the altar? 19 What say I then? that the idol is any thing, or that which is offered in sacrifice to idols is any thing? 20 But I say, that the things which the Gentiles sacrifice, they sacrifice to devils, and not to God: and I would not that ye should have fellowship with devils. 21 Ye cannot drink the cup of the Lord, and the cup of devils: ye cannot be partakers of the Lord's table, and of the table of devils. 22 Do we provoke the Lord to jealousy? are we stronger than he?
So Paul warned believers to flee communion when it is turned into idols of having the presence of "god" in them that was offered to be received as a sacrifice.
1 Corinthians 11
27Therefore whoever eats the bread or drinks the cup of the Lord in an unworthy manner, shall be guilty of the body and the blood of the Lord.
If you agree with not worshiping idols, then consider what an idol is; an inanimate object that believes to have the presence of "god" in it.
That would be eating the bread and drinking the cup of the Lord in an unworthy manner.
Jesus Christ is in you. It is redundant & apostasy to receive Him again in any form, spirit-wise as well as physically with His presence in food.
2 Corinthians 11:3 But I fear, lest by any means, as the serpent beguiled Eve through his subtilty, so your minds should be corrupted from the simplicity that is in Christ. 4 For if he that cometh preacheth another Jesus, whom we have not preached, or if ye receive another spirit, which ye have not received,.....