Definition of contango:
(n) :
The situation in a futures market where prices for future delivery are higher than prices for immediate (or nearer) delivery, indicating the expectation that the price of the underlying asset will go up.
(n) :
The amount by which prices for future delivery are higher than prices for near delivery.
(n) :
(obsolete, London Stock Exchange) Fee paid by a buyer to the seller on settlement day when the buyer wishes to defer settlement until the next settlement day.
(v) :
(obsolete, London Stock Exchange, ambitransitive) To charge (a buyer) a fee to defer settlement until the next settlement day.