Yes, I am not convinced reaction as written will proceed to the end. Where did you got it from?
This will be an equilibrium system. Solubility of dihydrate listed as 0.097 g per 100 mL of water suggests Ksp around 3×10-5, without calculating exact numbers: if you just mix sulfate with oxalic acid I would expect some precipitate, but definitely not all iron will react.
Also: oxalate is a strong complexing agent, reaction equation can refer to the creation of a soluble complex.