Below is a GIF I prepared and used in an earlier question, and the answer seems quite reasonable. With a height to diameter ratio of about 70 m to 3.7 m (nearly 20:1) a weight-conscious design, focused primarily on withstanding axial stresses (e.g. thrust + drag), and allow for some flexing.
But if it bends this much in a breeze, what about in flight?
This answer references the detailed, knowledgable Flightclub simulation of a recent Falcon 9 launch. At one point when the speed of the rocket (wrt Earth's rotating frame presumably) is about 1000 m/s and the pressure must be roughly 0.06 or 0.07 bar at 22km altitude, the angle of attack is estimated to be 4.6 degrees. That would present a crushing-type force, but would it tend to bend the rocket since the fairing is so much wider than the body?
Just how much can tall skinny rockets bend? (roughly, safely)

Brittle aluminium will fail under a stress of 320 MPa in one cycle only, but under a stress of 150 MPa, 10000 cycles are possible. If a first stage is reused, it depends on construction if this stage may be reused 10 times or 100 times due to failure by bend cycles. Unfortunately the structural mass would increase when the stage is constructed for more bend cycles. – Uwe Apr 05 '17 at 19:36