I ask the blameless tester/friend of monks (=God) to further my travels (help my on my way).
bið + (e)k = I ask (biðja, strong verb Class V) reyni, acc.sg. = tester, friend (reynir, m.) munka, gen.pl. = of monks (munkr, m.) meinalausan, m.acc.sg. = blameless (meinalauss, adj., cf. mein, n. hurt, harm, injury) farar, acc.pl. = journeys (för, f.) at beina, infinitive = to assist, help with, further, promote (beina, -da, -dr)
Heiðis haldi hárar foldar
hallar dróttinn of mér stalli.
May the lord of earth's high hall (=God) hold his hawk's perch (=arm) over me (i.e. protect me).
haldi, 3-subj.sg. = may/let ... hold (halda, strong verb Class VII) of mér = yfir mér = over me heiðis, gen.sg. = hawk's (heiðir, m.) stalli, dat.sg. = perch (stallr, m.), direct object of haldi. dróttinn, nom.sg. = lord (dróttinn) hárar hallar, gen.sg. = of the high hall (há höll, f.) foldar, gen.sg. = of the earth (fold, f.)