At least on my webcam, the v4l2-ctl -l command shows two settings related to white balance:
# v4l2-ctl -l
[...]
white_balance_temperature_auto (bool) : default=1 value=1
[...]
white_balance_temperature (int) : min=2800 max=6500 step=1 default=4000 value=4000 flags=inactive
[...]
I must set the white_balance_temperature_auto setting to 0 before the white_balance_temperature setting will have any effect.
# v4l2-ctl -c white_balance_temperature_auto=0
# v4l2-ctl -c white_balance_temperature=3000 # or whatever value you want
Note that the white_balance_temperature setting controls what the camera assumes the lighting environment to be, so decreasing the value makes the camera assume the ambient light is more reddish, and so it will make the picture more bluish to compensate.
Use the -d option to use a specific video device like -d /dev/video0.