I need help understanding these instructions

I am knitting the St. James sweater and I have made it through slipping the stitches to scrap yarn for the sleeves. The next instruction really confuses me. Here are the instructions and I have put in bold what is confusing:

Divide Sleeves, Front, and Back
Next rnd: k68 [77, 85, 95, 104, 111, 120] sts (Front), remove m, sl 49 [52, 55, 65, 68, 72, 75] sts to scrap yarn for Right Sleeve, sl m, k68 [77, 85, 95, 104, 111, 120] sts (Back), remove m, sl 49 [52, 55, 65, 68, 72, 75] sts to scrap yarn for Left Sleeve. [B]Sizes medium, 2x, and 3x only:*knit to m, CO – (-, 1, -, -, 2, 2); rep from * once[/B]. All Sizes:(68 [77, 86, 95, 104, 113, 122] sts each for Front and Back). Work even in stockinette for 4 rnds without shaping.

I am doing the medium so it looks like I should CO 1 stitch, but I have no idea how to do that mid knitting. I long tail cast on to get started knitting, but I am clueless as to what they are wanting me to do here. Also, it says I am to knit to the marker and then repeat once before this cast on of one stitch. That will have me only knitting on the front part of the sweater. How do I repeat it since I am on circulars? :wall:

Here is a pic of where I am:

To cast on a stitch, you can do a backward loop, knit, or cable cast-on. Actually, you could get away with just increasing since it’s at the underarm.

When they say to repeat, they’re saying to work to the marker, co1, slip the sleeve stitches, work to the marker, co1, slip sleeves . That brings you back to the beginning of the round where you’ll join the body into the round and work from there.

The sleeve sts may have been slipped onto a holder the previous round, where you knit the Front, put the R sleeve sts sts on a holder, knit the back and put the L sleeve sts on a holder. Then you knit to the marker that you left on the needle (that’s the front), inc 1, and repeat, which would have you knitting the back sts, inc and you’re back all the way around and ready for the 4 rounds of stockinette.

Thanks to both of you. That makes sense. I did that and got the next 4 rows of stockinette done. Now I am about to start the portion where you shape the body.