An electronically controlled multifeed circular knitting machine having an electromagnet needle selector in each knitting feed system. A matrix is provided for storing the operating pattern of the needles with respect to the formation of loops in each wale and course, and a reading device for activating the matrix in dependence on the position of the needles. The reading device includes a counter for determining the passage of the needles determining and successively feeding to the input of the matrix data as to the specific needle located at each electromagnet. The output of the matrix is fed to a sweep circuit connected to the electromagnet associated with the respective feed system for each data input.