!st off--I'd recommend removing the grille so you have access the the latch, cable and bottom of the hood pin (a part that need lubrication too). With the hood open have an assistant pull the release lever while you observe how far the sliding locking plate moves. It should withdraw from the opening completely.
Next--lower the hood slowly and observe if the pin is entering the latch dead center. Adjustment of the pin as far as length goes is accomplished by loosening the locking nut and then screwing the pin in or out. If the pin doesn't enter squarely it can be persuaded with a "smack". If it enters squarely and everything is lubed it may be a bit too short (in your case). Too long will allow the hood to lift a bit even when latched.
With the grille removed, in a worst case scenario if the hood seems stuck latched, you can use "persuasion" on the bottom of the pin with your assistant pulling the lever at the same time. Keep in mind the latch assembly is also adjustable by loosening the three screws that secure it. -- Dave