A rich variety of physical effects in spin dynamics arise at the interface between different magnetic materials1. Engineered systems with interlaced magnetic structures have been used to implement spin transistors, memories and other spintronic devices2,3. However, experiments in solid-state systems can be difficult to interpret because of disorder and losses. Here we realize analogues of magnetic junctions using a coherently coupled mixture of ultracold bosonic gases. The spatial inhomogeneity of the atomic gas makes the system change its behaviour from regions with oscillating magnetization—resembling a magnetic material in the presence of an external transverse field—to regions with a defined magnetization, similar to magnetic materials with ferromagnetic anisotropy stronger than external fields. Starting from a far-from-equilibrium fully polarized state, magnetic interfaces rapidly form. At the interfaces, we observe the formation of short-wavelength magnetic waves. They are generated by a quantum torque contribution to the spin current and produce strong spatial anticorrelations in the magnetization. Our results establish ultracold gases as a platform for the study of far-from-equilibrium spin dynamics in regimes that are not easily accessible in solid-state systems.