A lot depends upon what you want to do with the balsa wood, The old traditional balsa cement for model making was simply thickened cellulose nitrate or butyrate ,
This got banned in a lot of places because kids were sniffing the solvent fumes released to get high.
You also have cyanoacrylate glues which are popular with modelers because of the quick drying times, then of course you have aliphatic resin " white glue" , of course , any of the wood glues will work with it.
If you are using it as a core reinforcement then most laminating resins Polyester or epoxy work well with it. So again What do you want to do with it ?
B.E.
You are judged not by what you know, but by what you can do.