Assuming the OP is serious:
You can analyze the question by assuming that the bucket sits on the plywood, the Earth attracts the bucket and the plywood deflects, moving the bucket towards the center of the Earth. Then the gravitational attraction of the Earth is stronger, so the bucket moves a tiny bit closer to the center of the Earth, again slightly increasing the force on the bucket, … and so on infinitely.
But you should not assume that the sum of this infinite series of deflections is enough to break the plywood, or even noticably increase the deflection of the plywood.
You can do it more easily by successive approximations. Calculate the force ignoring the deflection of the plywood. Calculate the deflection of the plywood. Recalculate the force at the new distance. Recalculate the deflection of the plywood under the new total force. Repeat until the answer doesn’t change any more.
The Earth masses about 5.97610[sup]24[/sup] kg. Let’s start with the bucket at the Earth’s equatorial radius, about 6378 km, plus one meter, or 6378.001 km. Let’s assume your bucket is pretty heavy, 10 kg (about 22 pounds). The universal gravitational constant G is 6.67210[sup]-17[/sup] Newton km[sup]2[/sup] per kg[sup]2[/sup]. So the force between the Earth and the bucket is:
F = G*m[sub]1[/sub]*m[sub]2[/sub]/r[sup]2[/sup]
F = 6.672*10[sup]-17[/sup]5.97610[sup]24[/sup]*10/(6378.001)[sup]2[/sup]
F = 98.0161095301043366351828082911877 Newtons.
(yes, I know that not all those figures are significant).
Now, plywood is actually a pretty complex material, and a sheet of plywood is more like a plate than a beam, so neither you nor I want to get into a real calculation. Let’s assume a pretty soft piece of plywood that deflects 25 mm (about one inch) under a force of 100 Newtons (a weight of about 22 pounds), so the deflection at 98.0161095301043366351828082911877 Newtons is 24.5040273825260841587957020727969 mm. (It’s not really linear, but this is close enough). So the distance between the two bodies is now:
r = 6378.001 km - 0.0000245040273825260841587957020727969 km = 6378.0009754959726174739158412043 km
Now re-run the calculation:
F = 6.672*10[sup]-17[/sup]5.97610[sup]24[/sup]*10/(6378.0009754959726174739158412043)[sup]2[/sup]
F = 98.0161102832523670904061621040281 Newtons
In one step, the force changed by 0.00000077 percent!
You are welcome to try another step or two if you wish; the change at the second step will be much smaller. You may have a hard time finding a calculator or program that will carry the number of digits you’ll need to see any change at all in the next step.
The change in force on the plywood due to the bucket moving closer to the center of the Earth (when the plywood deflects) would be difficult to measure with very sensitive instruments.