We propose to produce pulses of strongly squeezed light by Raman scattering of a strong laser pulse on a spin squeezed atomic sample. We prove that the emission is restricted to a single field mode which perfectly inherits the quantum correlations of the atomic system. PACS numbers: 03.75. Fi, 05.30.Je Squeezed light and entangled beams of light can be used to probe matter and to study mechanical motion with better resolution than classical light [1]. Entangled photon sources can be used for lithography with a resolution below the optical wavelength [2,3], and the active field of quantum information profits from the development of non-classical light sources [4,5,6]. Nonlinear crystals in optical parameter oscillators and laser diodes with suitable feed-back have been the work horses in most experiments on non-classical light. As a figure of merit for the degree of non-classicality of these light sources, one may refer to the noise suppression observed in direct or homodyne photon detection measurements. Compared to classical sources it has so far been possible to reduce the noise (variance) by about one order of magnitude. In order to make a significant difference in practical applications, further noise reduction is really necessary.It has been proposed that the large non-linearity and low absorption in resonant Raman systems can lead to ideal four-wave mixing and substantial squeezing [7,8,9]. As an alternative approach we propose in this Letter to use spin squeezed ensembles of atoms as sources of squeezed light. Atoms can be entangled in such a way that the fluctuations in occupancies of different internal states are significantly suppressed. This phenomenon is refered to as spin squeezing, because a two level atom can be described formally as a spin 1/2 particle, and the interest in spin squeezed states arose already a long time ago in connection with ultra-precise spectroscopy and atomic clocks [10]. Squeezing of spins was originally believed to be very complicated, but recent proposals based on quantum non-demolition measurements of atomic populations [11], on coherent interactions in Bose-Einstein condensates [12,13], and on interactions between laser excited atoms [14] have changed this impression and suggested that really significant spin squeezing is achievable. The main purpose of the Letter is to demonstrate that the atomic quantum correlations can be perfectly transferred to the field. This result is readily obtained within a simplified model where both atoms and field are described by single harmonic oscillators [15] but we show that correlations in the atoms can be mapped perfectly on the field also in an a priori multimode situation.The emission of light is treated by a simple generalization of the theory of stimulated Raman scattering [16,17,18] to and this part of our proposal can be analyzed without specifying the model for spin squeezing. Our ensemble of two-state atoms is assumed to be strongly elongated and it is treated in a 1D approximation. It is illuminated by a strong laser field ...