Autoscroll Won't Set in New or Load

I'm creating a form with a panel with a large picture box inside it (larger then the size of the panel). Autoscroll is set to true for the panel. All I want to do is set the Autoscroll position when the form starts up to a midway point, but when I use Panel1.AutoscrollPosition = new Point (0, 700) it doesn't have any effect. When I debug and execute the line the Autoscroll point remains at (0,0). This occurs in the form's load and new event.

I added a MouseWheel event and that autoscroll code works fine - it's just at the start up where I can't get the scroll point where I want.

What am I missing here?

Thanks! :)